Banking In Brazil
Many Brazilian banks have ATMs enabling you to withdraw foreign currency during your stay in Brazil. If you have a Brazilian bank account, you are advised to compare commission rates for money transfers to and from Brazil as these will vary.
In most Brazilian banks you will find some English speaking employees, particularly in the foreign exchange section of the bank.
Although Brazil is predominantly a cash economy, the use of debit and credit cards is on the increase. The development of consumer services such as debit and credit cards is an ongoing procedure, while today personal cheques are almost unknown as a method of payment for locals.
Cheques and credit cards are mainly used by foreigners. Debit card payments are commonly accepted in hotels, many retail chains and fuel stations.
The Association of Commerce Banks (ACB) is a body which represents all recognized financial institutions in Brazil and as such acts as a bond of reputability.
List of Brazilian ACB member banks:
- Central Cooperative Bank
- Economic & Investment Bank
- Encouragement Bank
- ING Bank
- First Investment Bank
- Societe Generale
- Union Bank
- United Brazilian Bank
- Bank DSK
- Procredit Bank
- Tokuda Bank Plc
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