Send Money from the UK to Brazil
Fast & cheap. Save on IOF tax (up to 3.5%). Deposit via SEPA, recipient spends instantly via Pix — no CPF or Brazilian bank account needed.
Sending money from the UK to Brazil with Peanut is not subject to IOF tax (up to 3.5% on outbound transfers), gives you instant Pix access, and lets recipients spend immediately — all without needing a CPF or Brazilian bank account. Deposit via SEPA from your UK bank, and your recipient can pay merchants, friends, or family via Pix in seconds.
Why Peanut for UK to Brazil Transfers
Better Value — IOF Tax Savings
Brazil's Tax on Financial Operations (IOF) charges 0.38% on inbound transfers and up to 3.5% on most outbound transfers. Traditional bank transfers, credit card foreign transactions, and remittance services are all subject to IOF. Peanut's digital dollar-to-BRL conversion is not subject to IOF because digital dollar transactions are not covered by IOF legislation. On a £1,000 transfer out of Brazil, that's a saving of up to £35 compared to traditional methods — plus the rate you see is the rate you get through Peanut's rate provider.
Easy Deposits from the UK
UK users deposit via SEPA (for EUR) or bank transfer. Although the UK left the EU, UK banks retain SEPA membership for euro-denominated transfers. 90% of SEPA deposits arrive in under 20 minutes, and deposits are completely free. If you hold GBP, your bank converts to EUR, then Peanut converts EUR to digital dollars, then to BRL at the cripto dólar rate. For UK users with exchange accounts, you can also deposit directly via digital dollars on Arbitrum, Base, Solana, or other supported networks — typically faster than SEPA.
No Fees
Peanut charges no fees on deposits, Pix payments, or withdrawals. Gas fees on digital dollar deposits are covered by Peanut. The only cost is the exchange rate itself — the rate you see is the rate you get — and you still save compared to traditional services that charge both fees and apply IOF.
Instant Spending in Brazil via Pix
Your recipient doesn't need to wait for a bank transfer. They receive funds instantly in their Peanut account and can spend via Pix immediately at restaurants, supermarkets, gas stations, online stores, ride-hailing apps, hotels, and street vendors — virtually everywhere in Brazil. Over 150 million people use Pix. It's instant, 24/7/365, and works on weekends and holidays. No CPF required, no Brazilian bank account needed.
How to Send Money from the UK to Brazil
- 1
Sign up for Peanut and complete verification
Create an account with email or phone. You'll need to verify your identity using your passport or national ID card. Verification is handled by Persona (SOC 2 Type 2, GDPR-compliant, ISO 27001-certified) and takes under 2 minutes for most users.
- 2
Deposit from the UK
If you're depositing via SEPA, go to the app and tap "Deposit" then select "SEPA." Copy the IBAN and reference number displayed. Go to your UK bank's app or website and send a EUR transfer to that IBAN with the exact reference number. 90% of SEPA deposits arrive in under 20 minutes. If you hold digital dollars (USDC or USDT) on an exchange or wallet, you can deposit directly via a supported network. Select your network (Arbitrum, Base, Solana, Tron, Polygon, or Ethereum), copy your deposit address, and send from your exchange or wallet. Deposits confirm in 1-2 minutes on most networks.
- 3
Send to recipient
Once your deposit arrives, tap "Send" in the app. Enter the recipient's email or phone number. They'll receive a Peanut Link and can claim the funds instantly — no Peanut account required upfront (though they'll create one during the claim process).
- 4
Recipient spends in Brazil
Your recipient opens the Peanut Link, claims the funds to their new or existing Peanut account, and can immediately scan Pix QR codes at merchants. They review the amount in BRL, confirm the payment, and the merchant receives BRL instantly. No CPF needed. No Brazilian bank account required.
Where the Money Goes in Brazil
Pix
Pix is Brazil's national instant payment system with over 150 million users. It works 24/7/365 — weekends, holidays, midnight — and payments confirm in seconds. Merchants receive BRL immediately.
Where it works:
- Restaurants and cafes
- Supermarkets and grocery stores
- Gas stations
- Online stores
- Ride-hailing apps (Uber, 99)
- Hotels and hostels
- Street vendors and markets
How to use it: The merchant displays a Pix QR code. Open Peanut, tap "Pay," scan the QR, review the BRL amount, and confirm. Done.
For more details, see the Pix payment guide.
Bank Withdrawal
Recipients can also withdraw funds to a Brazilian bank account if they have one. Withdrawal times depend on the Brazilian banking system and typically process within 1-3 business days. However, most users prefer spending via Pix directly since it's instant.
Cost Comparison: UK to Brazil
Peanut Total Cost
- SEPA deposit fee: Free
- Conversion: 0.8% spread
- Pix payment fee: Free
- IOF: Does not apply (digital dollar transactions are not subject to IOF)
Total cost on a £1,000 transfer: ~£8 (0.8% spread only)
Competitor Comparison
| Provider | Deposit Fee | Fee | IOF (Outbound) | Total Cost (£1,000) | Speed |
|---|---|---|---|---|---|
| Peanut | Free | 0.8% | Exempt | ~£8 | Instant (Pix) |
| Wise | Free | 0.4-1.5% | Not applicable* | ~£4-£15 | 1-2 days |
| PayPal | Free | 3-4% | Not applicable* | ~£30-£40 | 1-3 days |
| Western Union | £5-£15+ | 5-10% spread | Not applicable* | ~£55-£115+ | Hours to days |
*Traditional services sending to a Brazilian bank account may still trigger IOF on the recipient side depending on how the transaction is structured. IOF does not apply to Peanut because the conversion happens via digital dollar infrastructure.
Savings Calculation
Compared to PayPal on a £1,000 transfer: save ~£22-£32.
Compared to Western Union on a £1,000 transfer: save ~£47-£107.
Compared to Wise: Peanut's advantage is speed and instant local spending (Pix), not necessarily cost. Wise may charge slightly less on bank-to-bank transfers, but recipients wait 1-2 days and cannot spend locally without a Brazilian bank account.
Common Use Cases for UK to Brazil
Tourists Traveling to Brazil
Heading to Rio, Sao Paulo, or the northeast for a holiday? Pay like a local from day one with Pix. Scan QR codes at restaurants, markets, and shops without needing a CPF or Brazilian bank account. Get better value than credit cards and avoid carrying large amounts of cash.
See how tourists use Peanut in Brazil.
Digital Nomads Working Remotely from Brazil
Living in Brazil on a UK income? Peanut lets you deposit from your UK bank via SEPA and spend instantly via Pix. No need to open a Brazilian bank account or obtain a CPF just to pay your rent, groceries, or bills. Your balance stays in digital dollars until you spend it, so you're not exposed to BRL fluctuations between paydays.
See how digital nomads use Peanut in Brazil.
Sending Money to Family in Brazil
Sending money to family in Brazil? They receive it instantly via Peanut Link and can withdraw to their bank, spend via Pix, or hold it in their Peanut balance. No IOF tax on the transfer, no waiting days for a bank wire to clear. They get the real rate, not the remittance rate.
See how Peanut works for family remittances.
FAQ
How long does it take to send money from the UK to Brazil?+
Deposit time from the UK via SEPA: 90% of users see funds arrive in under 20 minutes. Once your deposit arrives, sending to a recipient is instant — they receive the funds in seconds via Peanut Link. Spending via Pix is also instant. Total timeline: under 30 minutes from your UK bank to a merchant payment in Brazil for most users.
What's the exchange rate for UK to Brazil?+
Peanut converts GBP to EUR (at your bank) to digital dollars to BRL. The digital dollar-to-BRL conversion uses the cripto dólar rate via Peanut's rate provider. The rate you see is the rate you get. You save on IOF tax (up to 3.5% on outbound transfers), so your effective rate is significantly better than traditional bank transfers or remittance services that pass IOF costs to the sender or recipient.
How do I deposit from the UK?+
Use SEPA for EUR transfers from your UK bank. Although the UK left the EU, UK banks still support SEPA for euro-denominated payments. Alternatively, if you hold digital dollars (USDC, USDT) on an exchange or wallet, you can deposit via supported networks including Arbitrum, Base, Solana, Tron, Polygon, or Ethereum. Both methods are free — Peanut covers gas fees on digital dollar deposits.
Does the recipient in Brazil need a bank account?+
No. The recipient needs a Peanut account (which they create in under 2 minutes when they claim your Peanut Link). They can spend immediately via Pix without a CPF or Brazilian bank account. If they want to withdraw to a bank account, they'll need one — but for everyday spending via Pix, no bank account is required.
Is Peanut cheaper than Wise for UK to Brazil?+
It depends on what the recipient needs to do. Wise charges 0.4-1.5% on bank-to-bank transfers, but the recipient waits 1-2 days and receives money in a bank account. Peanut charges no fees and the recipient gets instant Pix access without needing a Brazilian bank account. If the recipient needs to spend locally right away, Peanut is faster and more convenient. If they're holding the money in a bank account, Wise may be slightly cheaper but slower.
Is Peanut subject to IOF tax in Brazil?+
Yes. Brazil's Tax on Financial Operations (IOF) applies to traditional cross-border transfers, charging 0.38% on inbound and up to 3.5% on outbound. Digital dollar transactions are not covered by IOF legislation, so IOF does not apply to Peanut's digital dollar-to-BRL conversion. This is one of Peanut's biggest advantages for UK to Brazil transfers.
Can I send money to myself in Brazil?+
Yes. Send a Peanut Link to your own email address. Claim the funds in your Peanut account when you arrive in Brazil and spend via Pix immediately. This is a common use case for travelers who want to move money ahead of a trip.
Disclaimer
The information on this page is for general informational purposes only and does not constitute tax, legal, or financial advice. Tax treatment of digital asset transactions varies by jurisdiction and may change. Consult a qualified professional for advice specific to your situation.
