2006 General Reports

[Java Man]

i have a US Citibank account. i was looking at my statement: a monthly (i think) $4.62 fee for use of non-Citibank ATM and a foreign fee depending on amount of withdrawal. curious thing about that $4.62 charge-i used the Citibank ATM in Copa.
another difference between US and Brazil Citibank:
open US savings account with $501.00.
open Brazil savings account with R2000. problems with US Citibank account while in Brazil? you'll have to return home to resolve it. if you have problems here in the US, Citibank will direct you to the branch where the account was opened!

[Ardgneas]

That's very interesting. I have had a similar experience with banks in Brasil. My HSBC branch in UK advised me to open an international account in order to access funds when in Brasil. I needed it for a property deal.

This may be the case if you need the funds required for a property deal but is NOT the case for a regaular holiday trip.

I have used my UK HSBC card in a HSBC branch in Copa without any problems for the last 3 years since I got it. It is not a credit card but rather their basic ATM/Debit Card which is "Solo" but not "Switch" enabled and has the Cirrus and Maestro logos on the back. My only gripe is their GBP1.75 fee and thus I tend to use a credit card issued by another bank with the HSBC card as back-up. For credit cards I have always found Bradesco to be the most reliable and haven't encountered any problems in hundreds of withdrawals over the last 6 years or so.

[Java Man]

opening any type of bank or credit account in the US requires a social security number. you need to be a legal resident or citizen to get one.

in brazil, one needs a CPF number.

[FadeToJade]

Does anyone out there know what the extradition laws are for Brazil to the US? I have committed no crimes nor plan to, just curious. Thanks. (If this offends your sensibilities, then you need to wake up to the current state of things in the USA judicial system). Believe me, if you don't know this, the police are not your friends, and my father, whom I dearly love, was in law enforcement.

[Sprite13]

That's very interesting. I have had a similar experience with banks in Brasil. My HSBC branch in UK advised me to open an international account in order to access funds when in Brasil. I needed it for a property deal.

Of course I am familiar with the requirements for opening a normal current account, CPF, residential status but I found this response perplexing.

Lo and behold I get to Brasil Fortaleza and they won't even let me open that. Surely not in keeping with the info on the website and the advice from my UK HSBC manager.

I think they operate under different entities somewhat although on appearance you would assume they were all part of the same organisaiton.

Are there any international banking experts that can explain.

Super Sir out

I also had a similar experience with my account. I opened specifically for Brasil an HSBC account and when in Brasil, my HSBC card would not work on HSBC machines!!! Even Banco do Brasil didn't accept them. The only machines which accepted my HSBC card was the Banco Bradesco and to make it even more convenient, of all the banks I tried, Bradesco were the only ones with an English menu which was quite practically since at the time I wasn't very familiar with the banking lingo in Portuguese.

Super Sir you're right when you say that HSBC in Brasil and the ones in Europe/North America operate under different systems and thus, one with a Euro/NA card cannot just go to any branch of HSBC in Brasil and get cash. I was also advised of that by my banker. Weird huh?

Question: To open a Bank of America account, the type that is mentioned in here with no fee when used at BOA machines, to open one, does one have to be a US citizen or can citizens of any country open one? If anyone can answer that, it would helpful.

Cheers.

[Off Road]

I am in the final stage of buying an apartment in Fortaleza.

Any availlable info/tip on the procedures, money tranfer, what to watch out will be greatly appreciated.

Although I have read some info in the past I was not able to find it again although I did some extensive search. Can someone, please, help on that too?

Thanks

El Greco

Get an attorney or advocate. They will help you with a few things:
1. You have to have someone check out the deed documents and other legal documents to ensure that the transfer can be a clean one to you. There are a lot of leins that can be placed against a property, and also family fights and splits can mess it it a lot. This is very important
1A. There is a sinal.. a good faith payment in cash, 5-10%..
2. The agreed amount will be paid part as the apartment fee and part as another fee, sort of under the table. The apartment fee is like 70% and it is taxed.. this is normal.
3. The funds. I transfered the under the table funds to my attorney, who paid them at the right time. Then the bulk will be sent to a holding company (like usa escrow) to give out at the closing..

Similar, but no title insurance.. your insurance is your attorney and staff..

[El Greco]

I am in the final stage of buying an apartment in Fortaleza.

Any availlable info/tip on the procedures, money tranfer, what to watch out will be greatly appreciated.

Although I have read some info in the past I was not able to find it again although I did some extensive search. Can someone, please, help on that too?

Thanks

El Greco

[Rio Bob]

Rio Bob.. If you are staying in a Hotel I guess it’s no problem but I wonder if you are staying in an apartment if they will be available to meet you at 12:30AM - 1AM to give you the keys ?????? Just a thought..

I once took a flight of this timeframe it was Continental about 8 years ago, they don't have it anymore, I was staying in a hotel, and it worked out great. I know many guys who rent apartments but they keep the keys so for them it would be OK. It would depend how hungry or accommodating your rental agent is, I’m sure you can find someone.

Also the Citi Banks in Copa. and Ipanema really have nothing to do with the ones in the USA. A few friends have tried using them like going into any branch in the USA and for some reason it does not work like that in Brazil.. Same name but they actually do not work like a branch office in the USA.

Yeah, well the offices are on their website but I guess being a different country you wouldn't get the same services like you would at home. I only mentioned it for ATM use as I’m always afraid of coming down with just 1 ATM card and for some reason mid way through your trip you can't get cash, this would be a bummer. In recent years I have been bringing cash for my whole trip but for some reason whether it's the reports of robberies coming from the airport or not I don't feel like bringing cash on my next trip. I would feel more secure with a Citibank ATM card as backup using a Citibank ATM machine in Rio.

[Super Sir]

Rio Bob.. If you are staying in a Hotel I guess it’s no problem but I wonder if you are staying in an apartment if they will be available to meet you at 12:30AM - 1AM to give you the keys ?????? Just a thought.

Also the Citi Banks in Copa. and Ipanema really have nothing to do with the ones in the USA. A few friends have tried using them like going into any branch in the USA and for some reason it does not work like that in Brazil.. Same name but they actually do not work like a branch office in the USA.

That's very interesting. I have had a similar experience with banks in Brasil. My HSBC branch in UK advised me to open an international account in order to access funds when in Brasil. I needed it for a property deal.

Of course I am familiar with the requirements for opening a normal current account, CPF, residential status but I found this response perplexing.

Lo and behold I get to Brasil Fortaleza and they won't even let me open that. Surely not in keeping with the info on the website and the advice from my UK HSBC manager.

I think they operate under different entities somewhat although on appearance you would assume they were all part of the same organisaiton.

Are there any international banking experts that can explain.

Super Sir out

[Trippleecks]

Rio Bob.. If you are staying in a Hotel I guess it’s no problem but I wonder if you are staying in an apartment if they will be available to meet you at 12:30AM - 1AM to give you the keys ?????? Just a thought.

Also the Citi Banks in Copa. and Ipanema really have nothing to do with the ones in the USA. A few friends have tried using them like going into any branch in the USA and for some reason it does not work like that in Brazil.. Same name but they actually do not work like a branch office in the USA.

[Rio Bob]

I found this to be interesting and useful for those of you who do not have a Citibank account. They offer free checking and savings if you open it online and they give you an ATM card. You can put your Rio money in the account and Citibank has several branches in Copacabana, Ipanema and Barra among others.

http://direct.citibank.com/CBOL/06/e...8E75AD50F9AAC5


Another thing I found interesting recently is that Tam airlines has day flights to and from Rio. I don't particularly like flying overnight leaving 10 pm and arriving next day at 12 noon, I just feel like crap the next day after trying to sleep on the plane all night. But Tam has a flight that leaves JFK at 8 am and stops in SP for an hour and arrives in Rio 10:45 PM that same day. Just in time to make Help at 12:30 AM, who could beat this. They even have a similar one on the way back, leaves Rio 7 AM arrive JFK 3:45 PM. This is just a different way of doing it.

[Off Road]

i've gone to Help just to exchange dollars and didn't go in. it was not a problem. just had to do it after midnight. (had to wait for them to get Reals.) just tell the person at the window you want to exchange dollars and they'll let you into the foyer. there was no fee.

Very cool. I had not thought of that.. thanks guys..

[Pipe Layer99]

Problem is that you have to pay $22-$33R to get INTO help to just get $200R, which you spend very quickly anyway. Probably not an every day way to withdraw cash, but something good to remember once you are in there. I do think they have an ATM fee though.

I've used Help to change $ to Reals without going inside.
Just tell the guy at the window or security you want to change dollars.
Then go inside to the desk, get the rate and change the money. No problem.

Donnie D

[Java Man]

i've gone to Help just to exchange dollars and didn't go in. it was not a problem. just had to do it after midnight. (had to wait for them to get Reals.) just tell the person at the window you want to exchange dollars and they'll let you into the foyer. there was no fee.

[Off Road]

I just got back today from Sampa and Rio.
Rio- Help 2.2 ($100 limit)

Problem is that you have to pay $22-$33R to get INTO help to just get $200R, which you spend very quickly anyway. Probably not an every day way to withdraw cash, but something good to remember once you are in there. I do think they have an ATM fee though.