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If you regularly conduct business in Brazil, you might want to consider a native financial institution. There are several banks in Brazil suitable for business use. However, banking regulations differ between countries, so it is important to understand the policies of your specific bank as well as any federal safeguards to protect your money.
Banco do Brasil, also called the Bank of Brazil, is the largest bank in the country. It is also the oldest running bank in Brazil and was founded in 1808. The bank currently offers business and consumer services such as loans, checking and savings accounts, and investment accounts. The Bank of Brazil has branches all over the world, including a branch in New York City and one in Miami.
The Bank of Brazil and three other large banks are called the Big Four. Banco Bradesco, Ita Unibanco, and Caixa Economica Federal are the other banks of this informal group. These banks offer the same types of services as the Bank of Brazil. Before opening an account, you should investigate the fees from each bank and decide which bank's services will best serve your needs.
To learn more about banks in Brazil, visit Business.com and click on some of the provided links.