Close

Opening a Brazilian bank account

Recommend

Bank Accounts – The Brazilian banking system is one of the most complex and bureaucratic in the civilized world. You cannot hold a bank account in this country unless you have permanency (i.e. your RNE and CPF), you will need to produce proof of residence, proof of income and other documents in order to open an account.

NOTE: When you apply for your permanent visa and Carteira de Identidade Estrangeiro you will be issued a document called a Protocolo, this bears your photograph and all your personal information and is stamped by the Federal Police. If you examine the document you will find that on the right hand side, below the barcode there is a box entitled Tipo de Pedido. This MUST say "Permanente - Valido como documento oficial de identidade". This is the document you need in order to open a bank account if you don't already have the plastic ID card. If your status is anything less than permanent you're out of luck.

It is a frustrating process and may not be instantly successful. It may take several tries to get it right. I personally recommend opening an account with an international bank such as Citibank, HSBC or others that may also operate in your home country. This may facilitate transfers of funds you may have in your country of origin. If you are coming to Brazil and can’t open an account here then your best bet is open an HSBC account in your home country. If you have an HSBC account then you can perform international ATM transactions at any HSBC or affiliated network machine in the country. Otherwise, you can only perform international transactions at Banco do Brasil’s main branches and only at specific ATMs at that location. Trust me, this one is a real pain in the butt.

If you want to know just how complicated it really is to open a bank account read the article at this link........ it was written rather tongue in cheek, but it is TRUE

http://globalpost.com/dispatch/brazil/0 … ?page=full

 

We do our best to provide accurate and up to date information. However, if you have noticed any inaccuracies in this article, please let us know in the comments section below.
Recommend
James ViP
Member since 20 June 2010
Macaé, Brazil
3 Comments
vegielcastillo
vegielcastillo
5 years ago

in my case i can have an account to itau..empresa...

Reply
paulopereirra
paulopereirra
5 years ago

Updated insight to the \"status quo\" on this regard. Sad to say, many point the burocracy as part of the Portuguese colonialism history ( ie, blaim my ancesters ). Interesting article. Regards Paulo

Reply
wjwoodward
wjwoodward
5 years ago

Not the fault of the Portuguese.... this is purely a result of the government here in Brazil and the rules created by the Central Bank. Bureaucracy was not invented by Brazilians, they just turned it into a SCIENCE. Cheers, William James Woodward - Brazil Animator, Expat-blog

Reply
Latest articles written by wjwoodward

See also

To open a bank account in Brazil you first need a Brazilian residency card. The bank will help you to determine what documentation you will need afterwards
To work in Brazil, you must first obtain a work visa which can be challenging. However, if you are qualified, you may find a company to sponsor you.
It isn't generally easy to find legal work in Brazil. However, if you have special skills or can secure permanent residency, there are jobs available
Rio de Janeiro is the most-visited city in Brazil – and with good reason. The Marvelous City, as it is known, is culturally rich and beautiful.
Traveling to Brazil with your cat or dog is possible with proper planning. For other types of animals, you'll need to inquire and receive authorisation.