Banco do Brasil
traditional bank
Banco do Brasil (BB) is Latin America's oldest bank and one of its largest by assets, founded in 1808 and majority-owned by the Brazilian federal government. Headquartered in Brasília, it operates over 4,000 branches and 100,000 Banco24Horas ATM network points across Brazil and maintains international offices in New York, London, Tokyo, Buenos Aires, and other financial centres. BB offers current accounts (conta corrente), savings (poupança), Pix instant transfers, investments through BB DTVM, credit cards on Visa and Elo networks, agribusiness financing, and trade finance. A CPF number is the essential prerequisite — foreigners can obtain it at a Receita Federal office or Brazilian consulate before arrival. Digital account opening is available via the BB app for those with a valid CPF and smartphone, eliminating branch visits for standard retail accounts. Monthly service fees are waived when minimum balance or activity thresholds are met. US persons are accepted and Banco do Brasil New York is supervised by the Federal Reserve and New York State Department of Financial Services. Currency handling is primarily BRL; USD and EUR international wires are supported. Deposits are protected under the FGC guarantee scheme up to BRL 250,000.
Details
- Headquarters
- Brazil
- Currencies
- 3
- Monthly Fee
- $6
- Non-Residents
- Not accepted
- US Persons
- Accepted
- Debit Card
- Available
- Business Account
- Available
Opening Requirements
- •Valid passport or Brazilian RG (identity card)
- •CPF (Cadastro de Pessoas Físicas — Brazilian tax registration number, mandatory for all account holders)
- •Proof of Brazilian residential address (utility bill, rental contract, or bank statement)
- •Proof of income or employment (salary slip, employment contract, or tax return for self-employed)
- •Minimum opening deposit (varies by branch and account type; typically BRL 0 on digital BB plans; BRL 150–BRL 500 at classic branches)
- •For foreigners: valid visa or residency permit (RNE/CRNM card) alongside CPF
Restricted Nationalities
Not available to nationals of: iran, north-korea, syria, cuba
Nationality Acceptance Matrix
Who this provider will and will not onboard. Refusals are listed first. Sourced from the provider's own published terms and recent public onboarding reports — confirm with the provider before applying.
| Nationality | Accepted | Notes |
|---|---|---|
| iran | NO | Blocked — BACEN AML compliance and OFAC/UN sanctions. |
| north korea | NO | Blocked — UN and OFAC DPRK sanctions. |
| syria | NO | Blocked — UN, OFAC, and BACEN sanctions compliance. |
| cuba | NO | Blocked — OFAC Cuba sanctions; USD-clearing risk for a government-affiliated institution. |
| us | YES | US persons accepted; FATCA reporting applies; W-9 or W-8BEN required. BB New York regulated by Federal Reserve and NYDFS. |
| uk | YES | UK nationals accepted as Brazilian residents; CPF registration and valid visa or residency permit required. |
| eu | YES | EU nationals accepted as Brazilian residents; CPF is the key prerequisite alongside a valid visa or residency status. |
| argentina | YES | Argentine nationals accepted; Banco do Brasil has significant cross-border trade-finance relationships with Argentina. |
| china | YES | Chinese nationals accepted as Brazilian residents; no specific restrictions beyond standard KYC and CPF requirement. |
| russia | YES | Russian nationals generally accepted in Brazil; Brazil has not adopted EU/US Russia sanctions. Enhanced due diligence likely for high-value or trade-finance accounts. |
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Sources & last verified
- Last verified 2026-06-15