Do I need a bank account in Guinea to send money to Brazil?
Not necessarily. Many international services operating in Guinea offer cash transfers to Brazil, so you can send money without a bank account. However, if you’re using online banking or bank-to-bank transfer from Guinea to Brazil, an account will be required.
What are the advantages and disadvantages of using a SWIFT bank transfer?
Advantages: Large amounts can be transferred securely.
Disadvantages: Longer processing time (several days), high fees from both sending and receiving banks.
Will the recipient in Brazil need identification to receive money from Guinea?
Yes. If you're sending money from Guinea to Brazil for cash pickup, the recipient in Brazil must show a valid ID and sometimes the transaction number. This helps ensure that money sent from Guinea is securely delivered in Brazil.
How to calculate taxes on foreign payments?
If for some reason the bank's rate on that day was higher than the Central Bank's rate (the rarest
case), the "service" received is also taxed. It is easier to follow this point than to deal with
additional calculations.
