Offered by some banks, digital accounts in US dollars are becoming an alternative for anyone. This type of account allows you to send and receive money from abroad, make purchases in other countries, and even convert currency more quickly.
The global account, as it is also called, has as its main feature the payment in foreign currency, being an alternative when it comes to transfers, with fewer fees and less bureaucracy than having an account abroad.
If you want to know how to open a digital dollar account, keep reading, as we have separated some options for dollar accounts in Brazil and the advantages of opening one. Check it out!
What is a digital dollar account?
A digital dollar account is a type of bank account where users can store and conduct transactions directly in US currency, rather than local currency.
With transactions based on commercial dollar exchange rates, this account is very advantageous for those who frequently deal with dollar transactions, such as travel, purchases on international websites, or investments outside Brazil.
Some Brazilian banks already offer this type of account to both individuals and companies. Generally, a digital dollar account can be opened directly through the bank’s app, quickly and without red tape.
What is the advantage of having a digital account in US dollars?
Now that we have a better understanding of what a digital dollar account is, let’s take a look at the main advantages of this type of account. One of them is the practicality, convenience, and cost reduction in international transactions.
As we mentioned earlier, with a global account, you can make payments, receive money from abroad, and make international purchases without worrying about fees, such as IOF, or exchange rate fluctuations.
In an increasingly globalized and digitized world, with remote work where professionals offer services to foreign companies or serve customers from around the world, a global account is an excellent option.
Regardless of the case, having a global account allows you to receive payments in foreign currencies without the need for conversion or extra fees, simplifying your transactions.
What is the best digital account in US dollars?
If you need to make transactions in foreign currencies, we have selected the best digital dollar account options in Brazil. Check them out!
1. Nomad
Nomad offers a US checking account designed to facilitate and reduce the costs of your purchases abroad.
With Nomad’s digital dollar account, you have access to a US bank that operates globally. It allows you to transfer and convert your money from Brazilian real to US dollars quickly and easily.
This international account from Nomad has no monthly fees, allowing you to convert Brazilian reais to US dollars with just a few clicks.
Nomad is a digital bank with no maintenance fees, regulated to facilitate currency exchange, receiving international transfers, and purchases outside Brazil. In addition, it offers an international debit card with no annual fees or extra charges.
Headquartered in the United States, the Nomad card can be used in online and physical stores, in digital wallets, or to subscribe to international services.
The exchange is made at the commercial dollar rate, and with a reduced IOF of 1.1% and a service fee of only 2%, you can save up to 10% on your purchases abroad.
2. Santander Select Global
Santander’s Select Global account is a fully digital international solution, ideal for customers who travel or make purchases abroad.
Santander’s digital dollar account offers a debit card accepted in over 200 countries, with exchange rates based on commercial rates and a reduced IOF of 1.1%. In addition, you can make withdrawals without fees at Santander ATMs abroad.
However, this Santander Select Global international account is exclusively for Private, Van Gogh, Select, and Special plan customers. It is worth mentioning that information on fees may be limited.
With this account, you will have access to:
- No maintenance fees or annual fees;
- Conversion at the commercial dollar exchange rate;
- Transfers from reais to dollars available 24 hours a day, 7 days a week;
- Reduced IOF tax of 1.1%;
- Free withdrawals at Santander ATMs in various locations around the world.
3. Accont Global C6
Another option for a digital account in dollars is the C6 Bank global account, which allows you to make transactions in both dollars and euros, always using the commercial exchange rate. For ease of use, C6 allows you to manage all your digital accounts, including international ones, in a single app.
One of the highlights of the C6 international account is the ability to schedule automatic currency conversion as soon as the exchange rate reaches a predefined value. In addition, the account has no monthly fees, annual fees, or maintenance fees.
Another advantage of this account is the ability to make free withdrawals from the Chase network in the US. For withdrawals at Cirrus ATMs around the world, there is a fee of US$5.
International transfers can be made via wire transfer, with applicable fees, and the C6 Global Account card can be used anywhere in the world. When using a currency other than the dollar or euro, there is an additional spread of 2%.
However, to open a digital account in US dollars free of charge, you must invest R$ 20,000 in CDBs through the C6 Bank app, have a C6, C6 Platinum, or C6 Carbon card, and carry out a foreign exchange transaction of at least US$ 100 or € 100 by the last day of the month following the account opening. The opening cost is US$10, which is refunded after these conditions are met.
In terms of costs, transfers to the account have an IOF (tax on financial transactions) of 1.1%, in addition to a 2% exchange spread. Purchases made in different currencies are also subject to this 2% spread.
4. BS2 Go
BS2 Go is the digital account in US dollars offered by Banco BS2, but you don’t need to be a BS2 account holder to access your international account.
In addition, BS2 Go does not charge maintenance, inactivity, or monthly fees. The associated international debit card is a Mastercard Platinum, offering up to 10% discount on purchases made outside Brazil.
In terms of fees, BS2 stands out for its competitiveness compared to its competitors. Check out the main costs:
- IOF for converting reais to dollars: 1.1%;
- IOF for credit card use: 5.38%;
- IOF for receiving AdSense: 0.38%.
Although there is no monthly fee, Banco BS2 requires its customers to deposit at least US$30 to activate the card.
Unlike other options on the market, BS2 Go charges a fee of US$5 for each withdrawal made at ATMs. The BS2 Go dollar account can be easily opened through the app, available for Android and iOS.
5. Nubank
Exclusively for Ultraviolet customers and in partnership with Wise, Nubank offers a digital account in US dollars that allows transactions in euros and US dollars at a more advantageous rate than traditional exchange rates.
In addition, Nubank’s global account offers a Mastercard World Elite debit card, which allows you to make withdrawals at ATMs abroad and transactions in more than 200 countries. Another advantage of this account is a virtual chip with 10GB of internet for 30 days, for more than 40 countries, ideal for those who are traveling.
The dollar account facilitates automatic currency conversion and displays the balance separately. Another detail is that Nubank does not charge anything for opening or maintaining the account, in addition to offering two free withdrawals per month abroad. All of this is managed within the Nubank app itself.
The only fees charged are 1.1% IOF and 0.8% for currency conversion.
6. Bank Inter
Global Account, Banco Inter’s digital dollar account, allows you to make transactions in dollars without being charged IOF per transaction. This account is ideal for those who shop in the US or at international online stores, keeping their balance in foreign currency.
In addition, the account has no opening, maintenance, or inactivity fees. Customers can make transfers to more than 60 countries and between US accounts free of charge using the ACH system.
Currency conversions use the commercial dollar exchange rate, which is more advantageous than the tourist dollar rate. The account also allows free withdrawals from the Allpoints network and offers a Mastercard debit card with no IOF tax per transaction.
Another benefit offered by Inter is cashback in dollars on purchases made at the global shopping mall or on the purchase of gift cards through the bank’s app.
Main fees for the Inter Global Account:
- Account opening: free;
- Account maintenance: free;
- Spread: 0.99%;
- IOF: 1.1%;
- Transfers between accounts in the US via ACH: no cost.
7. Wise
Another option for a digital account in US dollars is the Wise global account, which, in addition to US dollars, allows you to choose from 40 different currencies to use in your account.
The platform allows you to convert currencies in a matter of seconds, ensuring that you always have the currency you need for your purchases. In addition, Wise also allows you to receive money from abroad in eight major currencies at no additional cost.
8. Easy BB Americas
Banco do Brasil also offers a digital account in US dollars, the Easy BB Americas account. Unlike other options, this account can be opened in person at a physical branch or through the app and website.
Easy BB Americas customers have access to online banking services and a mobile app, available every day. Account holders receive a BB Americas Bank Visa debit card, which allows free withdrawals at more than 40,000 partner ATMs.
However, an initial deposit of US$100 is required to open this account. This account allows you to transfer money to Banco do Brasil accounts and vice versa.
Digital dollar accounts in Brazil may be worthwhile
For those who travel abroad frequently or make international purchases, opening a digital account in US dollars in Brazil is very advantageous. It offers lower costs when purchasing with a traditional credit card.
Which banks offer dollar accounts?
Basically, the main banks that offer digital accounts in US dollars are: Banco do Brasil, Santander, Nubank, Nomad Global, C6 Bank, BS2, Wise, and Banco Inter.
How to open a digital account in US dollars?
Although each institution has its own process for opening a digital account in US dollars, most follow a standard opening process:
- Access the app or platform of your chosen institution;
- Fill in your registration details (name, email, address, and other information);
- You will then need to submit some documents, such as your ID and a photo of yourself;
- Next, wait for your profile to be reviewed;
- Finally, if approved, you can transfer funds in Brazilian reais to the account and convert them to US dollars or another currency.
Found the best digital bank for US dollars
We hope this article has helped you find the best digital bank in dollars that meets all your needs to open your global account without any headaches.