If you need to transfer money to friends or family in Brazil, Wyre is one of the fastest options available.
- Minimum transfer amount. No limit after signing up for a Wyre account.
- Maximum transfer amount. No limit after signing up for a Wyre account.
- Transfer methods. Back account transfers only to select countries.
- Transfer options. One-off and scheduled payments.
- Delivery speed. 6 to 24 hours, depending on receiving country.
- Fees and exchange rates. Outside of any payment fees from local methods, Wyre charges $0 fees for finder.com readers.
- Customer service options. Phone and email.
Wyre exchange rates and fee
Wyre doesn’t actually have a standard markup over mid-market rate. They typically use the blockchain rate, which is often better than the mid-market rate. Visit the site to instantly see the current exchanges rates.
Because Wyre is a partner of finder.com, you can send any amount of money for free by signing up through the link on this page.
Normally, its “cross-border” fee is a mere 0.25% of your transfer amount, in addition to any payment fees from the transaction method — a bargain compared with the 1% to 4% charged by competitors. Domestic transfers between Wyre user accounts are free.
How does Wyre compare to more well-known brands?
Wyre competes on speed and exchange rates, but there may be better options for your needs:
Minimum transfer fees and available countries
After creating an account with Wyre, you can begin transferring money to select countries with no minimum or maximum.
At this time, Wyre offers full services to the US, Mexico, Brazil, China and Hong Kong only. It offers payout-only services to India and Canada.
And though it’s adding states to its business roster, you cannot use Wyre if you live in Wyoming, New York, Idaho, Oregon, Washington, North Dakota, South Dakota, Vermont, New Hampshire, Connecticut, Virginia, North Carolina and Georgia.
What types of transfers does Wyre support?
Transfer options vary by country, but US customers can send money to Brazil by bank account only using:
- ACH bank transfers
- Wire deposits
What is an ACH bank transfer?
The Automated Clearing House (ACH) is a network that moves money and information between bank accounts through direct deposits and payments. It processes more than $40 trillion each year and supports more than 90 percent of all electronic payments in the United States.
How do I send or receive money through Wyre?
To start using Wyre, you must sign up for an account. As it ramps up service, Wyre is manually onboarding new accounts. So to sign up for a Wyre account, you will need only:
- Your full name
- A valid email address
- A phone number
You will receive a confirmation email when Wyre’s associates have completed creating your account.
Once you’ve scheduled a transfer with Wyre, you can track its progress through your Wyre account. Your recipient’s pickup method will depend on their country.
Benefits and drawbacks
- Global services. Wyre offers highly competitive transfers speeds of under 24 hours.
- $0 domestic transfers. Domestic transfers between Wyre users are free.
- Low fees. With strong exchange rates and a low 0.25% “cross-border” fee for international transfers, you’ll save big over banks and most competitors.
- No minimum or maximum. Send as little or as much as you need to.
- Schedule regular payments. Wyre allows for recurring payments to its select countries.
- Limited US service. You can’t use Wyre if you live in Wyoming, New York, Idaho, Oregon, Washington, North Dakota, South Dakota, Vermont, New Hampshire, Connecticut, Virginia, North Carolina or Georgia.
- Limited countries. Wyre offers full service to the US, Mexico, Brazil, China and Hong Kong. It offers payout-only services to India and Canada.
- Limited transfer options. Wyre accepts payment by bank account only.
To find a provider that’s better suited for your international money transfer needs, compare exchange rates, transfer fees and delivery speeds of other money transfer specialists.