Opening a Bank Account in Brazil as a Foreigner
Which banks accept foreigners, what documents you need, and the fintech shortcuts.
Opening a bank account in Brazil used to be a bureaucratic nightmare for foreigners. It's gotten much easier, especially with fintechs.
The Fast Path: Fintechs
Wise and Nomad (a Brazilian fintech) both allow foreign residents to open accounts with minimal friction:- Wise: Open online before you arrive. Excellent exchange rates for receiving USD and converting to BRL.
- Nomad: Brazilian account for dollar-earners. No IOF tax on dollar transfers.
Traditional Banks
If you want a full Brazilian bank account:
- Banco Inter and Nubank are the most foreigner-friendly
- You'll need: CPF, passport, proof of address in Brazil, proof of income
- Processing takes 1–4 weeks
What You'll Need First
1. CPF (Cadastro de Pessoa Física) — your Brazilian tax ID. Get this at a Receita Federal office or Brazilian consulate before arriving.
2. Brazilian address — you need a utility bill or lease in your name
3. RNM card or visa documentation
Transferring Money from the US
- Wise — best exchange rates, low fees
- Remitly — fast transfers, good for larger amounts
- Avoid international wire transfers through US banks — fees are $25–$45 per transfer and exchange rates are poor