Still need some Help/advice---Banking

@easygoer1050

IMHO you will have two problems opening an account stateside. 1) Banks always want a physical address with proof of such. 2) Banks (and just about any other government agency or business) want a Brazilian cell phone number. They love the sms codes to login etc.. Anyway, maybe the gurus here have more hopeful information for you.

Good luck!

@easygoer1050

Mickey, I think you will need to physically walk into a bank branch to open an account in Brazil, but others more knowledgeable than I on this forum may offer better advice.

Alan

@bepmoht

Thanks,...that might be the case   and hence why I am reaching out here....as I am sure someone has thought/Did what I am trying to do...

@alan279

Thanks...funny my wife's niece (who was a asst mng at ITAU) told me all I needed was a CPF..lol...went physically into the bank in May 2024...waited for 2 hours and was told..no....you need a CRNM......ok started the process---then thought this would not be a problem when coming back to the US  (As I had to wait for CRNM on my last trip to Brazil in Jany 2025....saw the FP..and all went well)---but now it seems that I might have to go back if that is my only option.....is there w way to also get a phone with a Brazil number withot going physically back to Brazil?....My dad is 88 an lives with my wife and I the past 10 years...so it is hard to get away as I basically watch him and work from home....

Mickey

as I am sure someone has thought/Did what I am trying to do... - @easygoer1050

Hi Mickey,

I have thought about doing this with a CPF only - but did not proceed because of the large amount of past posts that said that you needed at least the CRNM or the protocolo.  However as soon as I got the protocolo,I was able to walk into the bank and open the account. 

I think that the walk in is important because 1) you will need to set up a user name and password for the online (phone) banking - as this is where you will do most of your banking anyways, 2) you will apply for your debit card - and this will also need a PIN, 3) you need to set up a PIX PIN, 4)you need a mailing address (usually not a problem) and 5) you need to get a copy of signature (actually 2 copies) for reference.

The bank manager also zapped me the copy of the bank info - which means that the bank also gets your phone number.

Hopefully this short blurb helps...

Next time you go to Brasil walk into a TIM cell store. Everyone there is younger and you may find an English speaker if you need one. They do not care what your Serasa score (their credit bureau) is and get a prepaid account. Claro for example won't even give you a prepaid account without a reasonable score, stupid IMHO. Take the contract printout as you can use that as a proof of address for the bank. Use an Air BnB or hotel address when they ask and do not elaborate. If you or your friends, relatives, etc, have an address, even better.

Take the proof of residence/cell account with your passport, CRNM, and go to a brick and mortar bank and ask to open an account. You should have no problem. ITAU and Santander will give you a debit card on the spot (maybe even a C/C) provided you have a sufficient deposit to start. I'd recommend something over R$10,000 minimum in cash....about $1,750 USD........try and get a basic no fee low limit credit card ASAP to start building a Serasa score. Even R$5.000 initially works. Buy stuff for R$100 and have it shipped to your legit address twice a month and pay the C/C immediately. Keep pumping R$10K or more into the bank via XE or another transfer service. In 12 months you'll have a higher Serasa score and you'll start seeing C/C offers on your bank app with R$30-50K limits.

There are 3 accounts you'll have in the bank app. Conta Corrente is "checking".......money goes there first, keep R$5K there.....next, put your lump sums in a poupanca (savings acct)  where you get 6-7% tax free. When you hit R$25-50K on deposit there start putting it in a CDI for 11-13% rates paid and compounded daily tax free until maturity. when you will pay a rate of 15-25% on the intetest earned based on the initial term.

FWIW I didn't do this except for the cell phone part, as I had an introduction to the bank via relatives, but it will work, trust me on that.

Good luck.

@Pablo888

   Thanks...Yeah I was trying to get this done in the US...but I guess in reality it is going to have to be in person.....  I have all the documents but thought it could get done (without physically) being there......

thanks

Mickey

@kolyaS122HSU

Kolya

Good Morning......excellent information..thanks for sharing    Is that from ITAU bank or others?...Also can you really get 7% interest tax free?

thanks

mickey

@easygoer1050 That is my Majic run for the exits term "All You Need". I always follow the Boy Scouts motto "Be Prepared"

Roddie in Retirement🕵

ITAU will give you a basic orange colored debit card that is also a low limit C/C if set up accordingly. Whereas Santander has two cards for example.

Of course those rates are genuine. Santander is at 7.31 % this month, the rates change (the last 12 months annualized yield was 5.97%) but that's my actual poupanca rate and CDI's are 12% and up at one of my banks.

They also have credit unions here. SICOOB, CRESOL and SICREDI have branchs that may be worth investigating as well.

Good luck !!!