Banking
As you plan to buy a property in Brazil it is recommended that you gain some knowledge of the banking systems in Brazil as it will aid the purchase of your property. You will find some general information below which should assist you.
You will find that a large number of banks in Brazil have ATM facilities which you will be able to get foreign currency from while you are in Brazil . However if you have a Brazilian bank account and wish to transfer funds either to or from the account it is advised to compare commission rates as they can vary. In banks where they have a foreign exchange counter in the majority of cases you should find staff that speaks English.
Brazil is a country that predominantly uses cash however the use of credit and debit cards are increasing and being encouraged by the economy as they develop the technology to handle cards in more locations. Currently you will find that it is common for the larger shops, hotels and petrol stations to except cards from foreigners. However cheques are used very little as a means of local payment.
In Brazil The Association of Commerce Banks, known as 'ACB' is a body that represents all recognized financial institutions and as such acts as a bond of reputability.
Members of Brazilian's ACB banks:
