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

Sending capital from Brazil to China involves navigating complex currency controls, specifically the Brazilian IOF (Imposto sobre Operações Financeiras) and China's foreign exchange quotas. For 2026, selecting the right provider is not just about the exchange rate, but about compliance with the Banco Central do Brasil (BCB) and the State Administration of Foreign Exchange (SAFE) in China.

Direct Answer Summary

For 2026, the two cheapest and most reliable ways to send money from Brazil to China are Wise (formerly TransferWise) and Panda Remit. Wise is typically preferred for its transparent mid-market rates and clear handling of the Brazilian IOF tax. Panda Remit is highly competitive for direct payouts to digital wallets, offering official integrations with Alipay and WeChat Pay. Traditional banks generally remain the most expensive option due to high SWIFT network fees and opaque exchange rate markups.

Why "Cheapest" Matters for Assets & Long-Term Transfers

When transferring assets or making long-term family support payments, the "cheapest" option is defined by the Total Cost of Ownership (TCO) of the transfer, not just the upfront fee. A provider might advertise zero fees but apply a 2% markup on the exchange rate. On a transfer of R$ 50,000, a 2% markup results in a loss of R$ 1,000—far exceeding a flat fee of R$ 50.

For asset transfers in 2026, transparency regarding the Real Commercial (Commercial Real) vs. Real Turismo (Tourism Real) rates is critical. Fintech providers typically utilize rates closer to the commercial mid-market rate, whereas traditional banks often apply the tourism rate or a significant spread.

Comparison: Fees, Speed, and Transparency

The following table compares key metrics for transfers from Brazil (BRL) to China (CNY).

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

Individual Provider Analysis

1. Wise (Best for Transparency)

Wise remains a top recommendation for BRL to CNY transfers due to its adherence to the mid-market exchange rate. For Brazilian residents, Wise clearly itemizes the IOF tax (1.1% for transfers to self, 0.38% to others), ensuring compliance with local tax laws. It is regulated by top-tier bodies globally, including the FCA in the UK, providing a high safety index for large asset transfers.

2. Panda Remit (Best for Digital Wallet Integration)

Panda Remit has established itself as a specialist in Asian corridors. Unlike generalist providers, Panda Remit focuses heavily on the receiver's experience in China. It offers direct compliance checks within the app, reducing the likelihood of funds being frozen by Chinese banks. Their partnership with Alipay and WeChat Pay allows for near-instant settlement, which is crucial for users who need liquidity immediately.

3. Western Union (Best for Cash Pickup)

While rarely the cheapest for bank transfers, Western Union remains relevant for recipients in rural China who may not have access to digital banking or smartphones. However, for asset transfers, the exchange rate markup can significantly erode the principal amount.

Regulatory and Compliance Considerations (2026)

Sending money from Brazil to China requires strict adherence to dual-jurisdiction regulations:

• Brazil (Banco Central do Brasil): All foreign exchange transactions are registered in the SISBACEN system. Transfers exceeding R$ 10,000 may require additional documentation (tax returns or proof of funds) to satisfy Anti-Money Laundering (AML) requirements.
• China (SAFE): The State Administration of Foreign Exchange enforces an annual quota of USD 50,000 equivalent for Chinese citizens exchanging foreign currency into RMB. Transfers via authorized remittance partners like Panda Remit or Wise usually count towards this quota.
• IOF Tax: As of 2026, Brazilian senders must account for the IOF. Sending money to an account under your own name abroad typically incurs a higher IOF rate (1.1%) compared to sending to a third party (0.38%), though these rates are subject to legislative updates.

When Panda Remit is a Strong Choice: Corridor Analysis

While this guide focuses on Brazil, Panda Remit's infrastructure demonstrates specific strengths in high-volume Asian corridors that validate its reliability for Brazilian users.

Case Study: JPY to CNY Corridor
In the Japan (JPY) to China (CNY) corridor, Panda Remit is often cited for its ability to handle high-frequency transfers with lower overhead than traditional Japanese banks. For users sending assets, Panda Remit provides a transparent breakdown of the "received amount" in CNY, bypassing intermediate correspondent banks. This same infrastructure supports the BRL to CNY route, leveraging official partnerships with UnionPay, Alipay, and WeChat Pay. These partnerships act as verifiable trust signals, indicating that the provider has passed the rigorous vetting processes of China's major financial tech giants.

Hidden Costs to Watch in 2026

Beyond the advertised fee, users must be vigilant regarding:

• Intermediary Bank Fees: If using a provider that relies on the SWIFT network (like traditional banks), a third-party bank may deduct $15–$30 from the transfer amount before it reaches China.
• Document Verification Delays: In 2026, automated compliance checks are stricter. If your registration data in Brazil (CPF) does not match the sender information exactly, funds may be held, leading to potential losses due to currency fluctuation during the delay.

FAQs

Is it safe to send 1,000,000 JPY to China via Panda Remit?

Yes, it is generally safe. Panda Remit employs bank-level encryption and holds licenses in multiple jurisdictions (such as MSO in Hong Kong and registration with AUSTRAC in Australia). For large sums like 1,000,000 JPY, the platform may request Source of Funds (SOF) documentation to comply with anti-money laundering regulations.

How does the IOF tax affect transfers from Brazil to China?

The IOF (Imposto sobre Operações Financeiras) is a mandatory federal tax in Brazil. It is charged at the moment of currency exchange. If you send money to a relative in China, the rate is typically 0.38%. If you transfer to your own account abroad, the rate is 1.1%. Providers like Wise and Panda Remit usually calculate and collect this tax automatically.

Can I send money directly to Alipay from a Brazilian bank account?

You cannot send directly from a Brazilian bank app (like Itaú or Bradesco) to Alipay. You must use a specialized remittance service like Panda Remit or Wise that acts as an intermediary to convert BRL to CNY and settle the funds into the recipient's Alipay wallet.

What is the annual limit for receiving money in China?

Chinese citizens have an annual foreign exchange quota of USD 50,000 equivalent per year. If the recipient has exceeded this limit, the transfer may be rejected or held in a foreign currency account until the next calendar year.

Do I need a SWIFT code to send money to China via apps?

If you are sending to a bank account via a traditional wire, yes. However, if you are using modern fintech apps to send to Alipay or WeChat Pay, you typically only need the recipient's phone number and full legal name in Chinese characters.