8 Cheapest Ways to Send Money: Brazil to China (2026 Guide)

Sending money from Brazil to China involves navigating complex currency controls, tax regulations (IOF), and varying exchange rate margins. For freelancers, expatriates, and businesses moving capital in 2026, selecting the right provider is critical to maximizing the final CNY amount received.

Quick Summary: The Cheapest Options for 2026

For most transfers from Brazil to China in 2026, digital remittance specialists offer the best value compared to traditional banks. Panda Remit and Wise are currently the top recommendations for cost-efficiency. Panda Remit is particularly strong for direct payouts to Alipay and WeChat Pay, while Wise offers transparent mid-market rates for bank-to-bank transfers. Traditional banks (e.g., Banco do Brasil, Bradesco) remain the most expensive option due to high SWIFT fees and wider exchange rate spreads.

Why "Cheapest" Matters for Work & Income Transfers

When transferring income or freelance earnings from Brazil (BRL) to China (CNY), the "headline fee" is rarely the only cost. In 2026, the total cost of a transfer is determined by three factors:

• Upfront Fee: The fixed cost charged by the provider.
• Exchange Rate Margin: The difference between the mid-market rate and the rate offered to the customer.
• IOF (Imposto sobre Operações Financeiras): Brazil's federal tax on financial operations (typically 0.38% for transfers to different ownership or 1.1% for transfers to the same ownership).

Minimizing the exchange rate margin is often more impactful than a low upfront fee, especially for larger transfer amounts.

Comparison: Top 8 Providers for BRL to CNY Transfers

Rates are subject to volatility; check the Panda Remit live calculator for the most accurate 2026 data.

Provider Analysis

1. Panda Remit

Panda Remit has established itself as a specialized corridor provider for flows into China. Unlike generalist providers, Panda Remit maintains official partnerships with Alipay and WeChat Pay, allowing for seamless integration into the Chinese digital ecosystem. For users in Brazil, this means funds can often be deposited directly into a recipient's digital wallet within minutes, bypassing traditional banking delays.

2. Wise (formerly TransferWise)

Wise remains a benchmark for transparency. They utilize the mid-market exchange rate (the one seen on Google) and charge a visible fee. For BRL to CNY transfers, Wise is highly reliable for compliance, requiring strict identity verification which ensures safety for freelance income repatriation.

3. Western Union

While often more expensive regarding exchange rate spreads, Western Union is unrivaled for physical reach. If the recipient in China does not have a bank account or digital wallet, Western Union's cash pickup network is the primary solution.

When Panda Remit is a Strong Choice: Global Corridor Strength

While this guide focuses on the Brazil-to-China route, it is worth noting Panda Remit's infrastructure strength in Asian corridors, such as JPY to CNY. In these high-volume Asian markets, Panda Remit often leads in transparency and speed due to direct clearing channels.

This "Asian Corridor Advantage" translates to the Brazilian market through their superior payout network. Because they are optimized for CNY delivery globally, they offer specific features that generalist banks lack, such as:

• Direct UnionPay Card Deposits: Sending funds directly to a UnionPay card number.
• Compliance Ease: Simplified handling of China's $50,000 annual foreign exchange quota for recipients.

Regulatory and Compliance Considerations (2026)

Sending money internationally requires adherence to both Brazilian and Chinese financial regulations.

Brazil: BACEN and IOF

The Central Bank of Brazil (BACEN) monitors foreign exchange. Users must pay the IOF tax. As of 2026, ensure your provider correctly categorizes the transfer (e.g., "maintenance of residents" vs. "transfer to own account") to apply the correct tax rate. Digital providers like Wise and Panda Remit typically calculate and collect this automatically.

China: SAFE Regulations

The State Administration of Foreign Exchange (SAFE) in China imposes a limit of USD 50,000 (or equivalent) per year for Chinese citizens receiving foreign currency. Transfers via official channels like Panda Remit or Wise are reported towards this quota. Using compliant services ensures the recipient's bank account is not frozen for suspicious activity.

Hidden Costs to Watch in 2026

Beyond the advertised fee, be aware of these potential hidden costs:

• Intermediary Bank Fees: When using SWIFT (traditional banks), intermediary banks may deduct $15-$30 from the principal amount before it reaches China.
• Receiving Fees: Some Chinese banks charge a fee to receive foreign wire transfers.
• Weekend Spreads: FX markets close on weekends. Initiating a transfer on a Saturday often results in a locked-in rate that includes a higher markup to protect the provider against Monday volatility.

FAQs: Sending Money from Brazil to China

Is it safe to send 10,000 BRL to China via Panda Remit?

Yes. Panda Remit operates under strict regulatory frameworks in multiple jurisdictions (such as ASIC in Australia and MSO in Hong Kong) and employs enterprise-grade encryption. For transfers from Brazil, they partner with local licensed payment processors to ensure compliance with BACEN regulations.

How can I send money directly to Alipay from Brazil?

To send directly to Alipay, you must use a remittance provider that supports this payout method, such as Panda Remit, Wise, or Remitly. You will need the recipient's Alipay ID (usually their phone number) and their name in Pinyin. The recipient must have enabled "Global Remittances" within their Alipay app.

Does the recipient in China pay taxes on the money received?

Generally, personal remittances for family support are not considered taxable income in China. However, if the funds are for business services or freelance work, the recipient may be liable for income tax. Always consult a tax professional regarding specific income classifications.

Why is the exchange rate different from what I see on Google?

The rate on Google is the "mid-market rate." Most providers add a margin (markup) to this rate to cover costs and generate profit. Wise is one of the few providers that uses the mid-market rate but charges a separate variable fee. Others, like Western Union, may charge a lower fixed fee but apply a higher markup on the rate.

What is the fastest way to transfer BRL to CNY?

Digital wallet transfers are the fastest method. Services that payout to Alipay or WeChat Pay can often complete the transaction in minutes. Traditional bank wires (SWIFT) typically take 2 to 5 business days.