Cost of Living in Brazil

[az08]

Originally Posted by DGM42

az08

I'm not going to get involved in the you can't have a bank account in Brasil row, but I have one with Banco do Brasil and CPF and it works fine. One of the lucky ones I guess.

Did you open an account on a Tourist Visa?
Went into a Banco do Brasil branch yesterday and theres no way to open one as a Tourist, only reason i need one is it would be much easier to have an account with Reis then taking loads of cash with me every time i go to Brasil!

[debzor]

Originally Posted by az08

Did you open an account on a Tourist Visa?
Went into a Banco do Brasil branch yesterday and theres no way to open one as a Tourist, only reason i need one is it would be much easier to have an account with Reis then taking loads of cash with me every time i go to Brasil!

The law actually states that you do NOT need to be a resident to open a bank account here, but in practice no bank will do it nowadays, because of the enormous paperwork every single transaction entails that a non-resident account holder makes, and they are totally liable for the behaviour of the account. But at least this stipulation just needs to be removed to allow accounts in the future, not a change in the law.

I have several non-resident friends who have accounts, but none opened recently, and most have had them closed. Either live with the cash issue, or use a friends account for non bank-to-bank transfers, or get a Brazilian to open an account in their name on your behalf - really, really bad idea!!!

[DGM42]

The account was opened 4 months ago in Belo Horizonte with no problems.
I went with my fiance and got a CPF, then to another office and got a Declaracao of residency when in Brasil with the Servico Notarial (I think).
I opened the account then with Banco do Brasil in Belo Horizonte.
I have been into the London branch and they have set me up with a paying in book (via Nat West) where you have to pay cash only into and it gets transferred free into your Banco do Brasil account and when in Brasil I draw money out and spend it. Otherwise you have to do a money transfer which is expensive.
This works fine, as I say one of the lucky ones I guess.

[debzor]

Originally Posted by DGM42

The account was opened 4 months ago in Belo Horizonte with no problems.
I went with my fiance and got a CPF, then to another office and got a Declaracao of residency when in Brasil with the Servico Notarial (I think).
I opened the account then with Banco do Brasil in Belo Horizonte.
I have been into the London branch and they have set me up with a paying in book (via Nat West) where you have to pay cash only into and it gets transferred free into your Banco do Brasil account and when in Brasil I draw money out and spend it. Otherwise you have to do a money transfer which is expensive.
This works fine, as I say one of the lucky ones I guess.

I think you will find that the keys words here are "fiancee" and "Declaracao [declaration] of residency".

This is not the same as non-residents opening an account here!!!

[timatthebeach]

az08
try getting a nationwide flex account. it has a debit card which works fine in brazil. NO charges for withdrawing money from atm's in brazil (or anywhere else in the world). although the local daily limit is enforced so about £300 i think.

[debzor]

Originally Posted by timatthebeach

az08
try getting a nationwide flex account. it has a debit card which works fine in brazil. NO charges for withdrawing money from atm's in brazil (or anywhere else in the world). although the local daily limit is enforced so about £300 i think.

Yes - I agree - I have one...

The daily limit without a charge is £300, but locally there is a max withdrawal of
R$1000 during the week (or sometimes less, for example if banks are on strike as they are now), and around R$400 at weekends and on holidays!!

Right now it is not working because of international problems with the Visa system...?

[DGM42]

Yes I have a flex account as well. They save a lot of money.
I wanted a bank account in Brasil so i can use it when I am there and also regularly transfer money without paying transfer charges. Eventually I will probably be moving to Brasil within a couple of years.

[debzor]

Originally Posted by DGM42

Yes I have a flex account as well. They save a lot of money.
I wanted a bank account in Brasil so i can use it when I am there and also regularly transfer money without paying transfer charges. Eventually I will probably be moving to Brasil within a couple of years.

If you also have a Nationwide e-savings account, you can transfer funds between the two by internet from anywhere in the world when you need to make withdrawals, but earn top interest from the e-savings account on the funds that sit there.

[timatthebeach]

was going to mention the esavings account too debzor but thought i would sound too much like a nationwide employee but agree the savings account linked to flex account is ace as you can keep most cash in savings so if you get pin stolen wont lose too much from current............ well better go pack flight tomorrow just as its getting proper cold here....

[mitico67]

does anybody know of supermarkets who have a website. It'd be interesting to check the prices