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Do you know what global accounts are? With them, you can easily store foreign currency to use when you travel. Read the text and find out more details.
To the global accounts They are still new to the market, but they are already attracting the interest of many people due to their advantages.
This is because they make life much easier for those who travel frequently, make international transfers and even for those who work remotely.
These accounts have become a more practical and economical alternative for those who need to carry out some type of operation or transaction with currencies from another country.
In today's text you will discover What is a global account and how does it work?, in addition, you will find some suggestions to have yours!
Don't miss it!
Text index:
- What is a global account?
- How do global accounts work?
- What is the advantage of having an international account?
- Which bank has a global account?
- Is it worth investing in global accounts?
- Conclusion.
What is a global account?
It's a international account. It works like a digital checking account, but in foreign currency.
With it, you can have an international account that is easy to use even if you live in Brazil, that is, without the need to be in another country.
In fact, you may have a international debit card to use for your purchases abroad. In fact, withdrawal fees are much lower compared to international cards from national accounts.
Additionally, you can use the balance to make transfers to other countries and buy on foreign websites, for example.
How do global accounts work?
Typically, these accounts are opened in partnership with other banks or branches abroad.
An example, Banco Inter acquired the company Using and thus, it became the first fintech to establish itself in the American market.
C6 Bank, in turn, has a branch in the Cayman Islands, so customers can make deposits in different foreign currencies.
One international account It works like a regular checking account, however, what sets it apart is that transactions are carried out in foreign currencies.
The entire account balance is kept in foreign currency, apart from that, deposits are reserved in accounts outside our country.
Having a global account can be very interesting for those who want to create a dollar reserve and reduce losses from foreign currency fluctuations.
You will understand a little more about how it works later, when you learn about the digital banks that offer it. global accounts.
What is the advantage of having an international account?
The main advantage is the reduction in exchange costs. This is because most transactions can be carried out without the need for conversion.
Furthermore, when withdrawing money abroad using an international card from a global account, you can save money, as the fees are lower.
One example is the spread, a fee charged when a credit card is used in another country.
As the card is international and the currencies are foreign, this fee is waived or reduced.
Certainly, a foreign account, in addition to being economical, it can bring more comfort and practicality to people's lives.
However, it is important to evaluate how often you need to use an account of this type, so it is easier to see whether it will really be advantageous and will make a difference to your finances.
Which bank has a global account?
To understand a little more about the international accounts, we have separated this topic to present you with some alternatives global accounts and how it works. Check it out!
#Banco Inter
Banco Inter customers who choose to open a Global Account will have a digital checking account in the United States.
This international account offers many advantages to its users. The first one to highlight is that it offers no monthly or annual costs to its users.
In other words, just like the Inter digital account, it is free, with no monthly fee or maintenance fee.
Additionally, customers can make free withdrawals at more than 55,000 ATMs across the United States.
Another way to save with Inter's foreign account is through free transfers to other American accounts.
The application is very user-friendly, simple to use and the account opening process is carried out entirely online.
This account already comes with a virtual card, but customers can request a physical card to take on their travels.
The international debit card from Global Account There is no IOF on purchases, only on exchange rate conversion.
The IOF fee is only charged when loading the account balance or when there is a balance withdrawal. See the interest rate below.
| Cost of loading balance into the account | 1,10% |
| Cost on balance redemption | 0,38% |
To open a global account at Inter, you must be a customer, as the first steps are taken through the Super App Inter.
In this case, if you are not yet a customer, find out how to open your account. If you are already a customer, access the Global Account section and download the Usend app.
With global accounts, concerns about exchange rate fluctuations will no longer be a problem!
#Banco C6 Bank
C6 Bank also offers a international account for your customers. With it, you can carry out transactions in foreign currency and other financial transactions.
In addition, it also offers an international debit card for customers who wish to travel and shop in foreign stores.
The account can only be requested by C6 customers and there are two relevant alternatives: Global Euro Account and Global Dollar Account.
It is even possible to have both accounts at the same time, if it is useful for your finances and needs.
This bank does not charge fees and charges on many services and operations, for example, it does not charge maintenance fees or fees on purchases made with the debit card.
However, it charges a $30 fee for opening an account and issuing a physical card.
Customers who have a C6 Carbon credit card or investments in amounts above R$1,400,000 in CDB do not need to pay the account opening fee.
See below some more fees charged on the C6 Bank international account.
| IOF | 1.1% per transfer |
| ATM withdrawal fees | 5 dollars for each withdrawal with the Global Dollar Account and 5 euros for each withdrawal with the Global Euro Account |
| Transfers from reais to foreign currencies | Trade Currency + Spread of 2% |
| Inactivity fee | $10 a year |
#Banco BS2
THE BS2 international account It is free and also has a physical debit card, but there is no virtual card.
Account approval can take up to 7 days and can only be opened by Brazilian residents. BS2's customer service is available 24/7, meaning you'll receive personalized service no matter what time or place you are.
To open your account you don't need to have a checking account in Brazil, just download the BS2 Go app and register.
It is also a cost-effective alternative, as it has no maintenance, monthly or inactivity fees.
In addition, the debit card is free and there is no issuance fee. However, to request the first copy of the card, you must transact at least 30 dollars in the account.
See below the BS2 international debit card fees:
| IOF of 1.1% | to convert the balance in reais to the international account in dollars |
| IOF of 0.38% | to convert the balance in dollars to reais |
Is it worth investing in global accounts?
To the global accounts are very advantageous, but they may be more useful for one audience than another. Therefore, to know whether or not it is worth having one international account, you need to evaluate why you need an account of this type and how it will be useful in your life.
To help you decide, see below the main profiles that can benefit from opening an international digital account:
- People who travel abroad frequently;
- Have a habit of shopping on foreign websites, for example, Amazon, eBay and Aliexpress;
- Receive payments from foreign companies or clients;
- Send money to people living outside the country;
- You want to have reserves or investments in foreign currencies.
There are many advantages to opening a global account through a digital account, for example, simplicity and convenience.
However, you can perform the same services on digital international transfer platforms, for example, Remessa Online, Nômade Global and TransferWise, but without being tied to these accounts.
To know which is the best alternative for your pocket, you need to evaluate your needs and then the services and rates that each of them offers and charges.
From this, it becomes easier to know if it is worth counting on global accounts.
Conclusion
With the continuous variation of the dollar, having a international account can be a great alternative, especially for those who travel frequently and like to shop abroad.
This is because they offer greater savings and have simple maintenance of a foreign currency account, without needing to be outside Brazil.
Therefore, if the global accounts meet your needs, be sure to learn more details about the alternatives mentioned here to find out which is the best alternative for you.
