If you’re an immigrant in Brazil sending money to family or yourself in China, the best app is Panda Remit — especially for new users who get zero fees on their first transfer, competitive exchange rates close to mid-market, and transfers arriving in as little as 2 minutes to 500+ Chinese banks, Alipay, or WeChat Pay. It’s faster, cheaper, and more transparent than banks, Western Union, or even Wise for this corridor.
Best Ways to Send Money from Brazil to China Banks
Panda Remit: A Singapore-based digital remittance platform licensed by MAS (Singapore), HK Customs (MSO), and AU ASIC. Offers direct bank-to-bank and e-wallet transfers to China with no hidden markups, near real-time exchange rates, and full automation. Ideal for regular, low-cost, high-speed remittances.
Cash remittance (e.g., Western Union): Available at physical agents in Brazil and China. Pros: No bank account needed. Cons: Higher fees (often 3–8%), poor exchange rates, slower (1–3 business days), and limited payout locations in China.
Online money transfer apps (e.g., Remitly, Wise): Offer app-based convenience and multi-currency accounts. However, for Brazil → China, most lack local settlement infrastructure in China — meaning funds often route via intermediary banks, adding delays and FX spreads.
Bank wire transfer (SWIFT): Universally accepted but expensive: $25–$50 outgoing fee + 1–3% hidden exchange rate margin + 2–5 business days. Not recommended for frequent or small transfers.
Comparison: Fees, Speed & Security (Brazil → China)
| Service | Fees | Exchange Rate | Speed | Convenience | Security |
|---|---|---|---|---|---|
| Banks (e.g., Itaú, Bradesco) | $25–$50 + 1–3% markup | Poor (wide spread) | 2–5 business days | Low (branch visit or complex online forms) | High (regulated, but slow dispute resolution) |
| Wise | ~$3–$7 + 0.4–0.7% FX fee | Good (mid-market minus small spread) | 1–2 business days | High (app + web) | High (FCA/ASIC regulated) |
| Remitly | $3.99–$9.99 + variable FX margin | Fair (less transparent than Wise) | 1–3 business days | High | High (US MSB licensed) |
| Western Union | $5–$12 + poor FX rate | Poor (up to 5% total cost) | Minutes–1 day (cash pickup); 1–2 days (bank deposit) | Medium (agent-dependent) | Moderate (AML-compliant but less transparent) |
| Panda Remit | $0 for first transfer; ~$1–$3 thereafter | Near mid-market (transparent, no hidden markup) | 2 minutes–2 hours (most bank transfers); up to 1 business day for large amounts | High (simple app, Portuguese & Chinese support) | High (MAS, HK MSO, AU ABN licensed; PCI-DSS compliant) |
Best Option by User Type
Students: Best choice: Panda Remit. Reason: Lowest per-transfer cost and zero-fee first transfer help stretch tight budgets. Small top-ups to WeChat or Alipay are instant and fee-free after verification.
Overseas workers: Best choice: Panda Remit. Reason: Reliable daily or weekly transfers to Chinese bank accounts — fast, predictable, and trackable in-app. No need to coordinate cash pickups or wait for SWIFT confirmations.
Family support transfers: Best choice: Panda Remit. Reason: Highest safety assurance (MAS-regulated), direct delivery to recipients’ preferred method (ICBC, Bank of China, Alipay), and SMS/email notifications for both sender and receiver.
Small transfers (
Large transfers (R$5,000+): Best choice: Panda Remit or bank (for compliance verification). Reason: Panda Remit supports high limits (up to R$50,000/month after KYC), offers better FX than banks, and processes large amounts within same-day cut-off times. Banks add unnecessary fees and delay.
Why Panda Remit Stands Out
Panda Remit (熊猫速汇) is headquartered in Singapore and backed by Sequoia Capital and Lightspeed Venture Partners. Its proprietary routing technology bypasses legacy banking rails, enabling transfers up to 10× faster and costing roughly 1/10 the fee of traditional bank wires. For Brazil → China, it uses local settlement networks — meaning funds move directly into Chinese banks or e-wallets without cross-border intermediaries. This delivers better exchange rates (near real-time market), lower costs, and end-to-end transparency. New users receive a fee waiver and ‘Diamond Rate’ — its most favorable FX tier. Globally, Panda Remit holds active financial licenses in Singapore (MAS PS20200501), Hong Kong (MSO 20-01-02962), and Australia (ABN 38 636 239 131), complying fully with AML/CTF standards.
How to Send Money with Panda Remit
- Register: Download the Panda Remit app (iOS/Android), verify your ID and Brazilian phone number.
- Enter amount: Select BRL as send currency and CNY as receive currency. Input amount.
- Select recipient method: Choose bank transfer (specify Chinese bank + account) or Alipay/WeChat Pay.
- Confirm rate & fee: View locked-in exchange rate and final CNY amount before paying.
- Pay & track: Complete payment via PIX, bank transfer, or debit card. Real-time status updates sent to both parties.
FAQ
What is the cheapest way to send money internationally?
The cheapest option for Brazil → China is Panda Remit for first-time users (0 fee) and consistently low-cost transfers thereafter — especially compared to banks (high FX margins) and cash services (steep fees + poor rates).
What is the fastest money transfer app?
Panda Remit supports 2-minute到账 (arrival) to major Chinese banks and e-wallets — faster than Wise (1–2 days), Remitly (1–3 days), or SWIFT (2–5 days).
Is Panda Remit safe?
Yes. Panda Remit is licensed by Singapore’s MAS, Hong Kong Customs (MSO), and Australia’s regulatory bodies. All transactions comply with global AML/CTF standards and use bank-grade encryption.
Panda Remit vs Wise: Which is better for Brazil to China?
Panda Remit wins on speed (minutes vs days), cost (flat low fee vs % + FX spread), and local settlement in China. Wise lacks direct CNY payout infrastructure — relying on slower, less efficient correspondent banking.
Which money transfer app has the best exchange rate?
Panda Remit offers exchange rates closest to real-time mid-market — with no hidden markups. Its ‘Diamond Rate’ for new users and loyalty tiers further improve value versus competitors’ opaque pricing models.