How to open a dollar account in Brazil by cell phone

With the advancement of the digital age, there was a significant growth of the so-called digital banks and fintechs — companies focused on financial technology. In addition to offering convenience, agility and low fees for customers, some allow you to open a dollar account.

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This is possible, because institutions such as C6 Bank, BS2 and Nomad offer the so-called global or international account, with the which is possible to make transactions with foreign currencies (among them, the dollar). Interested? Well know that, currently, this procedure is less complex than it appears.

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If you live in Brazil and still want to open a dollar account using your cell phone, check below what options are available, and more information about an international account!

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What is an international account

An international account is a type of digital account that allows you to use foreign currencies and can be opened without leaving Brazil. In addition to the international transaction option, some may even offer an international debit card.

Usually, transactions for this type of account are made using the commercial dollar rate as a reference, not the of the tourism dollar. Because it is cheaper, this model can be more interesting for customers. Even so, it is very important to be aware of the extra fees that may be charged.

How to open a dollar account in Brazil by cell phone

C6 Bank

To create an international account at C6 Bank (Android | iOS), also known as a “Global Dollar Account”, you need to be already a customer of the bank — something that can be done for free. However, the fee for opening and issuing an international debit card is US$ 18.

The amount will be converted to reais in the daily rate and will be deducted from the bank’s Brazilian account. C6 Carbon customers or who have investments starting at R$ 20 thousand in CDBs of the institution are exempt from the fee.

To open a dollar account on C6 Bank, you must pay a fee of US$ 30 ( Image: Matheus Bigogno/Canaltech)

There are no fees for account maintenance, transfers, debit card purchases. The IOF charged is 1.1% per transfer (remembering that the rate is 6,20% for credit cards), the annual transfer limit is R$ 12 thousand and the minimum amount to send money to the account is US$ 100.

Also, it is important to be aware that there is a fee of US$ 5 per withdrawal and in case the account becomes inactive for one year, a fee of US$ will be charged annually 12.

BS2

In BS2 Bank (Android | iOS), for you to open an international account, you must have a traditional one on the platform. Once this is done, access the “International Account” option on the app’s home screen, read and accept the terms, send a document with a photo (RG or CNH).

Unlike C6 Bank, the institution does not have an account opening fee and allows transfers to other banks and international BS2 accounts. However, for ordering and sending international payment, the cost is US$ 15 per operation.

The BS2 international account can be opened free of charge (Image: Matheus Bigogno/Canaltech)

There is also a debit card available, which allows withdrawals at self-service terminals – the fee per withdrawal is US$ 5, excluding the own fees that may be charged by ATM networks.

Nomad

Unlike C6 Bank and BS2, Nomad (Android | iOS) offers an account directly in the United States and, therefore, the money is guaranteed by the FDIC (US federal agency, analogous to the FGC, which ensures deposits in bill up to US$ 100.000,) .

To open your account, you must be older than 15 years old, have a fixed address in Brazil and a driver’s license, ID card or national passport. It is noteworthy that no fees will be charged for opening or maintenance, and the account can be used within two business days. The platform also offers a virtual debit card (which can be used with Samsung Pay, Google Pay and Apple Pay) and will soon offer the physical card, allowing you to make withdrawals abroad.

In addition to the international account, Nomad offers investment options in foreign assets (Image: Matheus Bigogno /Canaltech)One of the most interesting features of the app is the US Asset Investments tab. However, you must be aware that, when sending money to the account, the transaction may take up to two business days to become available.

Done! Now you can use one of the three options listed above to open a US dollar account in Brazil directly on your cell phone.

This article is not an advertorial. It is for informational purposes only and does not exempt the reader from the duty to know and understand the entirety of the terms of use of the service mentioned in the news article published here. Canaltech is not responsible for the conditions and changes of use provided by companies, platforms or external agents, given that the use of third-party services by our readers occurs exclusively at their own risk.

Source: C6 Bank, BS2, Nomad

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