Itaú Unibanco

traditional bank

Itaú Unibanco is Latin America's largest private-sector bank by assets, formed from the 2008 merger of Banco Itaú and Unibanco. Headquartered in São Paulo, it serves over 60 million clients across retail, corporate, private banking, and investment segments in Brazil, Argentina, Chile, Colombia, Uruguay, Paraguay, and select international hubs including New York, London, and Luxembourg. For expats and immigrants in Brazil, a CPF number is the non-negotiable prerequisite for any account — it can be obtained at a Receita Federal office or Brazilian consulate before arrival. Once a CPF is in hand, Itaú's digital onboarding via its mobile app allows account opening without a branch visit. The bank offers current accounts (conta corrente), savings accounts (poupança), investments via Íon (equities, fixed income, funds), and credit cards on Visa, Mastercard, and Elo networks. Monthly service fees are waived when minimum balance or transaction thresholds are met. US persons are accepted subject to FATCA disclosure and W-8/W-9 requirements; Itaú New York branch is regulated by the Federal Reserve and NYDFS. Currency handling is primarily BRL; USD and EUR transfers are supported via international wire. Itaú is regulated by the Banco Central do Brasil and deposits are protected under the FGC guarantee scheme up to BRL 250,000.