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Old 07-29-2018, 04:10 PM
 
Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
7,409 posts, read 6,550,878 times
Reputation: 6685

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I am heading to Brazil at the end of August for the first time in a couple of years and just learned that Citibank no longer operates in the country. In the past, I was able to use my Citibank ATM card at Citibank branches in Rio with no problem and no transaction fees.

Can I open an Itau or Banco do Brasil account locally in Miami as a US citizen that would allow me to use their ATM’s in Rio??
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Old 07-29-2018, 04:35 PM
 
Location: western East Roman Empire
9,364 posts, read 14,307,279 times
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Quote:
Originally Posted by elchevere View Post
I am heading to Brazil at the end of August for the first time in a couple of years and just learned that Citibank no longer operates in the country. In the past, I was able to use my Citibank ATM card at Citibank branches in Rio with no problem and no transaction fees.

Can I open an Itau or Banco do Brasil account locally in Miami as a US citizen that would allow me to use their ATM’s in Rio??
Do you mean a dollar account or a real account?

Last time I inquired about a foreign-currency account in the US, there were too many restrictions: one bank was offering a euro account to permanent residents of its home country in the US temporarily. No other banks were offering anything: regulations became much more strict after 2001 and again starting in 2011.

You could inquire whether a Brazil-based bank offers USD accounts at US branches for US residents/citizens.

Good Luck!

Last edited by bale002; 07-29-2018 at 05:20 PM..
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Old 07-29-2018, 04:40 PM
 
Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
7,409 posts, read 6,550,878 times
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I guess I would put in US $ here in Miami and acces Reais in Rio...if not, I will use my Citibank ATM card and pay the friggin fees—only going to make 3-5 withdrawals so we are not talking about a large sum of fees.....if nothing else, I know I can get Reais here in Miami (even Wells will do that for me) so I can at least pay the taxi driver for the ride from the airport to my hotel.
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Old 07-29-2018, 05:33 PM
 
18,069 posts, read 18,815,515 times
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Just pay the fees...
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Old 07-31-2018, 11:51 AM
 
Location: Coral Gables / Bonita Springs
2,128 posts, read 2,356,029 times
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Buy Reals here in Miami (any mall will sell them, or big banks). Bring cash as well,
Then use credit cards with no foreign transaction fees (Chase Preferred, Amex, etc) for everything else to save the cash.

Hope you get your Visa in time before trip starts! Brazil is notoriously slow for Americans.
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Old 07-31-2018, 12:13 PM
 
Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
7,409 posts, read 6,550,878 times
Reputation: 6685
my 6th visit to Rio with current Visa, first trip of mine in which Citibank no longer has a presence in the country (sold Brazilian presence to Itau)...they will waive a currency conversion fee but only reimburse ATM fees that might be charged by other banks (i.e. Itau, Banco do Brasil, etc.) for balances of greater than 200,000 (Citigold, but not CitiPriority).

Quote:
Originally Posted by Marc Middleton View Post
Buy Reals here in Miami (any mall will sell them, or big banks). Bring cash as well,
Then use credit cards with no foreign transaction fees (Chase Preferred, Amex, etc) for everything else to save the cash.

Hope you get your Visa in time before trip starts! Brazil is notoriously slow for Americans.

Last edited by elchevere; 07-31-2018 at 12:49 PM..
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