Banking & Finance
Opening a bank account in Brazil as an expat: difficulty level, required documents, digital banking options, and international transfer tips.
Opening a bank account in Brazil is one of your first tasks after landing. The process varies depending on your visa type.
Banking Overview in Brazil
| Feature | Details |
|---|---|
| Currency | Brazilian real (BRL) R$ |
| Bank Account for Foreigners | May be possible — confirm with the bank |
| Access Difficulty | Medium |
| Remote Opening | No |
| Wise Available | No |
| N26 Available | No |
Opening a Bank Account in Brazil
Foreign nationals may be able to open a bank account in Brazil, but we have not independently verified this — confirm the current rules directly with the bank, in writing, before you rely on it. The process difficulty is rated as medium, which means you should expect some bureaucracy and possibly language barriers.
Required Documents
- Valid passport or national ID
- Proof of address / residence registration
- Residence permit (if applicable)
- Tax identification number (if available)
- Initial deposit (amount varies by bank)
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Banks in Brazil — remote & non-resident opening
Named banks operating in Brazil, and what our automated research found about non-resident remote account opening (no branch visit required). This has not been verified by a human reviewer — use it as a starting point and confirm directly with the bank.
| Bank | Remote opening | Confidence | Details |
|---|---|---|---|
| Banco Bradesco | May require an in-person visit — confirm with the bank directly | Medium | Serves non-residents via CDE accounts but remote opening needs in-person visit or apostilled power of attorney. |
| Banco BTG Pactual | May require an in-person visit — confirm with the bank directly | Medium | International account aimed at Brazilian CPF investors, not foreigners with no Brazil ties. |
| Banco do Brasil | May require an in-person visit — confirm with the bank directly | Medium | Serves non-residents but physical signature requirement makes truly remote opening impractical. |
| Banco Inter | May require an in-person visit — confirm with the bank directly | High | Digital retail requires CPF and Brazilian residency; no non-resident accounts from abroad. |
| Banco Safra | May require an in-person visit — confirm with the bank directly | Medium | Brazilian retail requires CPF; non-resident only via separate Safra National Bank UHNW private banking. |
| Banco Santander Brasil | May require an in-person visit — confirm with the bank directly | Medium | Non-resident CDE account requires CPF and usually a proxy in Brazil; no remote foreigner onboarding. |
| Caixa Econômica Federal | May require an in-person visit — confirm with the bank directly | Medium | Requires CPF, Brazilian ID and proof of address; foreigner accounts handled at branch, not remote. |
| Itaú Unibanco | May require an in-person visit — confirm with the bank directly | Medium | Non-resident CDE needs CPF; traditional bank typically requires physical visit or local facilitator. |
| Nubank | May require an in-person visit — confirm with the bank directly | High | Digital retail bank requires Brazilian CPF, residency and local address; no non-resident accounts. |
Last checked 2026-06-22 · Source: official bank websites, gathered via automated research that has not been reviewed by our founder — treat every row as a lead, not a verified fact, and confirm directly with the bank before you rely on it. Research confidence: High = clear supporting evidence found · Medium = partial or indirect evidence · Low = weak or conflicting evidence · Unrated = no confidence assessment recorded (unreviewed automated research).
Digital Banking Options
Wise (TransferWise)
Wise has limited availability in Brazil. While you may be able to send money to Brazil, full local account features may not be available. Check their website for the latest on Brazil-specific services.
N26
We have no record of N26 operating in Brazil — check N26's own country list, as their coverage changes. You may need to consider local digital bank alternatives or traditional banks.
International Transfers
When transferring money to or from Brazil, consider these factors:
- Exchange rate: The currency is BRL. Always compare the offered rate with the mid-market rate.
- Transfer fees: Transfer fees vary — compare providers like Wise for the best rates.
- Transfer speed: Bank-to-bank (SWIFT) transfers take 2-5 business days. Digital services often complete within 1-2 days.
- Regular transfers: If sending money home regularly, set up a recurring transfer to lock in better rates.
Salary and Everyday Banking
The average salary in Brazil is approximately €571 per month. Your employer will typically require a local bank account for salary deposits. Most banks offer:
- Debit card (Visa or Mastercard)
- Online banking portal and mobile app
- Direct debit setup for rent and utilities
- ATM withdrawals (check fee policies)
Tips for Expats
- Learn key banking terms: A few words in the local language go a long way at the bank counter and when reading statements.
- Carry cash for the first week: Card acceptance varies. Have enough local currency to cover taxis, meals, and small purchases until your account is active.
- Open your account early: Visit a bank branch within your first week. Having a local account speeds up everything from rent to mobile contracts.
- Keep your home bank account: Maintain an account in your home country for at least the first year, in case you need to transfer funds back.
- Use a multi-currency card: A multi-currency travel card (Wise, Revolut) saves you exchange fees during the transition period.
Additional Practical Information
The following information is compiled from expat community sources and recent reports to complement the official data above.
Additional Data Points
Recent reports and expat sources provide these additional figures for Brazil:
- If you'd like to get a savings account, the good news is, interest rates are High. Expect around 6%, plus it's tax-free. There's a tax exemption on interest earned because the Brazilian government wants to protect its people against inflation.
- There are both notes and coins. The denominations for notes are 2, 5, 10, 20, 50, and 100. For coins, the denominations are 5, 10, 25, and 50 centavos, as well as 1 real.
- Each bank will have its own requirements for opening an account, and the documentation you must produce may vary depending on the specific type of account you wish to open (savings, checking, credit card, etc.). But be prepared to produce the following:
- Note, however, that obtaining a credit card will be subject to meeting additional conditions, such as minimum income. Be careful in any case about obtaining a credit card in Brazil, as there are High annual fees, and the High interest rates charged here would be illegal in many countries.
- With most banks, you'll be able to do online banking. However, do note that these services are usually available only in Portuguese. Also, generally, Brazilian banks only provide accounts for Brazilian reals. It's not possible to get bank accounts for foreign currencies, although rarely, some exceptions are made for expats who are only in the country temporarily.
- Important:
Additional data sourced from expat community reports. All information should be verified with official sources.
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Frequently Asked Questions
Is mobile banking widely available in Brazil?
Yes, most major banks in Brazil offer mobile banking apps with features like transfers, bill payments, and balance checks. Local banks are increasingly investing in mobile technology.
Is cryptocurrency banking available in Brazil?
Cryptocurrency regulation in Brazil varies. Some banks allow crypto-related transactions while others restrict them. Dedicated crypto exchanges operate in many countries. Check local regulations before trading or holding crypto assets in Brazil.
Can I receive my salary in a foreign bank account in Brazil?
Technically yes, but most employers in Brazil prefer paying into a local bank account. Using a local account avoids international transfer fees and delays.
What are the best banks for expats in Brazil?
For expats in Brazil, options depend on your needs. CPF needed. Itau and Bradesco accept foreigners. We recommend comparing traditional banks with digital alternatives based on your transaction patterns and whether you need international transfers.
Can I open a bank account remotely before moving to Brazil?
Remote account opening is generally not available in Brazil. You will likely need to visit a branch in person with your documents.
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About the author
António Mira is the founder of whereTOemigrate. For over a decade he has worked at the intersection of Portuguese real estate and overseas business, helping international clients navigate the cross-border decisions that come with relocating. He sits on the board of CCIAP (Portuguese-Arab Chamber of Commerce), the Portuguese-Saudi Business Council, and the Portugal-Hong Kong Business Association — always with one focus: enabling overseas business and human mobility into and out of Portugal.
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