If you are a foreigner and wish to open a bank account in reais in Brazil without having a National Registry of Foreigners (RNE), being unmarried, not working in the country, or having any other official relationship, know that it is possible through certain branches of Santander Bank. Although this is not achievable through platforms like Wise or traditional banks, the Spanish-origin bank offers a solution, provided you approach the right branches.
Why open an account in reais?
Having a bank account in reais offers several benefits for foreigners:
1. Payment of Bills in Brazil: Simplify the payment of local bills, including boletos, PIX, and other types of payments.
2. Investments: Invest directly in Brazilian projects.
3. Money Transfer: Transfer funds to a reais account in your name, which is faster than other methods.
4. Real Estate Transactions: Facilitate payments for buying apartments in several installments without interest
5. Debit and Credit Cards: Use cards with benefits such as access to VIP lounges and earning miles to buy plane tickets.
6. Withdrawals and Transfers with Fingerprint: ATMs in Brazil are equipped with fingerprint readers, allowing you to withdraw money and make transfers with just your fingerprint, without needing your card.
Santander: a Spanish bank with global presence
Santander, of Spanish origin, has a global network, meaning you can get assistance at any Santander branch worldwide if you encounter issues with your Brazilian account.
Our services
We offer comprehensive support to open your account in reais in Brazil. Here's how we can assist you:
1. Documentation Preparation: We provide the complete list of required documents and assist you in gathering them.
2. Account Opening: We handle all procedures at specific Santander branches that accept opening accounts for foreigners without RNE.
3. Continuous Support: After opening your account, we remain available for any questions or issues you may encounter.
Required documentation
Here are the key documents you will need to open an account:
- CPF (Cadastro de Pessoas Físicas) : Mandatory for all financial transactions in Brazil.
- Official Photo ID: Your national ID card, driver's license, or passport.
- Proof of Address: An address in Brazil or abroad.
- Proof of Income: Pay stubs and recent tax return.
- NIF (Número de Identificação Fiscal): The equivalent of CPF in your country of origin.
Costs and conditions
- Opening Fee: 1,000 BRL, payable once at the account opening.
- Fee Exemption: The first three months are free. After that, a monthly fee of 100 BRL applies unless you have investments:
- 100% fee waiver for investments of 150,000 BRL or more.
- 50% fee waiver for investments of 75,000 BRL.
- Transaction Fees: For transactions above 100,000 BRL, a commission of 800 BRL per transaction applies.
Contact us
If you wish to open an account in reais in Brazil or have additional questions, feel free to contact us. We are here to assist you throughout the process.
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