Brazil (BR)

Monthly fee: BRL 0 (free account and card); NuConta savings earns 100% of CDI

Requirements: CPF + Brazilian phone number + selfie verification via app. Foreigners with a valid CPF can apply; CRNM or passport with CPF accepted. Account subject to Nubank's internal approval.

• + Largest neobank in Latin America — fully digital, no branches required, excellent app
• + BRL 0 monthly fee — no minimum balance and no annual card fee; saves BRL 50–90/month compared to traditional banks
• + Pix integrated natively — send and receive free instant transfers; Nubank Pix keys linked to CPF, phone, or email
• + NuConta interest-bearing account — idle balance earns 100% of CDI (Brazil's interbank rate) daily, automatically
• + Credit card available once approved — purple Mastercard widely accepted; credit limit grows with usage history
• + NuInvest platform — buy Tesouro Direto, CDBs, ETFs, and FIIs directly from the app

• - Portuguese-only interface — app, customer support, and all communications in Portuguese; no English option available; functional Portuguese required to navigate independently
• - Account opening subject to credit approval — Nubank reserves the right to decline applications without explanation; foreigners with thin or no Brazilian credit history may face rejection initially
• - No physical branches — all issues resolved via in-app chat; complex problems (blocked accounts, identity disputes, fraud) can take days or weeks to resolve through digital-only channels
• - CRNM or valid CPF link required for foreigners — CPF must be active and cleared with Receita Federal; any CPF irregularity (unpaid debts, "pendência") blocks account opening and card approval

Monthly fee: BRL 0 (free account); Global Account (USD) available at additional fee

Requirements: CPF + Brazilian phone number + selfie + proof of address (documento de residência). Foreigners with CPF and CRNM or RNE accepted via digital onboarding.

• + BRL 0 monthly fee — no annual card fee, no maintenance charge; fully free current account
• + Conta Global — USD account and international debit card for spending abroad and receiving USD salary
• + Full investment platform within app — Tesouro Direto, CDBs, fundos, FIIs, ETFs, and insurance products
• + Pix, TED, and boleto all integrated — complete Brazilian payment ecosystem in one app
• + Inter Shop cashback programme — earn cashback at partner retailers; useful for everyday purchases

• - Portuguese-only — app, customer support, and documentation entirely in Portuguese; no English service or interface available
• - No physical branches — fully digital bank; account problems and disputes resolved only via in-app chat or email; complex issues take longer without in-person option
• - Credit approval required for card — Banco Inter's credit card is not automatically issued with account; approval based on Brazilian credit history and income proof
• - Conta Global USD account has separate application and fee structure — not included in the free standard account; verify current USD account terms and limits at bancointer.com.br before relying on it for salary receipt

Monthly fee: BRL 0 (basic digital account) to BRL 70/month (standard package); fee waived with qualifying salary credit or minimum balance

Requirements: CPF + CRNM or passport + proof of address + income documentation (employment contract or bank statements). Branch visit required for full traditional account opening. Digital account available online with CPF and selfie.

• + Largest private bank in Brazil — widest branch and ATM network across all Brazilian states
• + English-speaking staff available at selected São Paulo and Rio de Janeiro international business branches
• + Itaú Private and Personnalité — premium banking tiers for high-income clients with dedicated relationship managers
• + Full product suite — salary accounts, mortgage (crédito imobiliário), auto loans, insurance, investments, and pension products under one roof
• + Strong business banking — Itaú Empresas is the leading business banking platform for payroll, invoicing, and corporate accounts

• - Monthly fees of BRL 30–70/month for standard packages — waived only with salary crediting or minimum balance; fees are significant for those not meeting conditions, especially in early months before Brazilian income is established
• - CRNM typically required for full traditional account — digital account (Conta Digital) accessible with CPF alone but with limited features; full account with credit products requires residence documentation
• - Bureaucratic onboarding — branch visit required for full account; forms in Portuguese; processing 1–3 business days; documentation requirements strict and non-negotiable
• - International SWIFT fees: BRL 100–250 per outbound transfer plus IOF tax on foreign currency transactions (3.5% for same-owner outgoing wire transfers as of 2026) — Wise is significantly cheaper for regular overseas remittances

Monthly fee: BRL 0 (Next digital account, Bradesco's neobank) to BRL 70/month (traditional packages); fee waived with salary credit

Requirements: CPF + CRNM or passport + proof of address + income documents. Branch visit required for traditional account. Next digital account available via app with CPF and selfie.

• + Second largest private bank in Brazil — extensive branch and ATM network nationwide including smaller cities
• + Next by Bradesco — fully digital neobank subsidiary with BRL 0 fees; separate app with modern interface
• + Large insurance group — home, health, auto, and life insurance all integrated; useful for foreigners navigating Brazilian insurance requirements
• + Payroll accounts widely held — many large Brazilian employers pay salary directly to Bradesco; convenient if employer uses Bradesco payroll
• + Agência Internacional in São Paulo — dedicated international banking services for expats and foreign business clients

• - Traditional account fees BRL 30–70/month — fee waivers require salary crediting or maintaining minimum balance; early-arrival expats typically incur full fees before salary relationship is established
• - Branch experience varies — service quality and wait times differ significantly across branches; São Paulo and Rio branches at peak hours can involve 30–60 minute queues
• - CRNM required for full product access — traditional mortgage, vehicle financing, and higher credit card limits require Brazilian residence documentation beyond CPF alone
• - International SWIFT fees: BRL 100–250 per outbound transfer plus 1.1% IOF tax — Wise is significantly cheaper for regular overseas remittances; use Wise for any cross-border transfers

Monthly fee: BRL 0 (Conta Fácil digital) to BRL 60/month (standard packages); fee waived with salary credit

Requirements: CPF + CRNM or RNE + proof of address + income documentation. Branch visit required. State bank — government salary and public sector payroll commonly channelled here.

• + State-owned bank — required for federal government employee salary; essential for public sector workers and those interacting with Caixa-related programmes
• + Largest presence in rural Brazil — branch and ATM coverage in cities and towns where private banks are absent
• + BB Americas — international banking services and USD account options for Brazil–US corridor
• + Tesouro Direto access — direct access to Brazilian government bonds via BB Investimentos platform

• - Portuguese-only — no English interface in app, internet banking, or at most branches; all communications, forms, and customer service in Portuguese only
• - More bureaucratic than private banks — government ownership means stricter documentation requirements and slower processing; account opening typically requires multiple branch visits
• - Technology lags behind Nubank and Itaú — app and internet banking platform less intuitive and less frequently updated than leading private banks and fintechs
• - International SWIFT fees: BRL 100–250 per outbound transfer plus 1.1% IOF tax — Banco do Brasil's international wire fees are not competitive; Wise is significantly cheaper for overseas remittances

Monthly fee: BRL 0 (Free account with conditions) to BRL 90/month (premium packages); fee waived with salary credit or maintaining BRL 5,000+ balance

Requirements: CPF + CRNM or passport + proof of address + income proof. Branch visit required for traditional account; digital onboarding available for simplified account.

• + International brand — coordination possible with Santander accounts in Spain, Mexico, UK, and other countries; potentially useful for international transfers within the Santander network
• + English-speaking staff at selected international business branches in São Paulo — useful for complex banking needs
• + Full product range — mortgage, investments (Santander Invest), insurance, business accounts, and payroll services
• + Strong urban branch network — good coverage across São Paulo, Rio de Janeiro, and major Brazilian cities

• - Monthly fees BRL 40–90/month for standard packages — among the highest of the major banks; fees waived only with consistent salary crediting; early-arrival expats face full charges
• - CRNM required for full product access — credit card limits, mortgage eligibility, and higher-tier accounts require Brazilian residence documentation; passport alone limits services
• - Customer service complaints — Santander Brasil has below-average customer satisfaction ratings in PROCON surveys; complaint resolution via BACEN (Banco Central) may be necessary for disputes
• - International SWIFT fees: BRL 100–250 per outbound transfer plus 1.1% IOF tax — Wise is significantly cheaper for regular overseas remittances; in-house Santander international transfers are not competitively priced

Monthly fee: BRL 0 (standard account and C6 card); C6 Global account has additional fee

Requirements: CPF + Brazilian phone number + selfie via app. Foreigners with active CPF accepted; CRNM or RNE useful for full product access.

• + BRL 0 monthly fee — free current account and black Mastercard with no annual fee
• + C6 Tag — toll payment tag and fuel discount card included; practical for car-owning expats
• + C6 Global — international account and card for USD/EUR transactions abroad; useful for travel
• + Investments, insurance, and consortium savings (consórcio) available within one app

• - Portuguese-only — no English interface in app or customer service; all menus, notifications, and support communications in Portuguese only
• - Less established than Nubank or Banco Inter — smaller brand recognition and customer base; fewer partner integrations and merchant cashback offers
• - Credit card approval dependent on Brazilian credit assessment — foreigners with no Brazilian credit history may receive low initial limits or be declined; limit increases require demonstrated repayment history
• - C6 Global account has separate terms and fees — international functionality is not part of the standard free account; verify current conditions and transfer limits at c6bank.com.br before relying on it for international salary receipt