Startup will provide US account with zero monthly payment and debit card
2 min read
A Avenue, A brokerage firm that invests overseas, has announced that it will be offering a free digital account to its customers. Innovation will facilitate the process for Brazilians to have a current account in the United States, and the product will be International debit card More banking services.
Avenue’s overseas checking account has no launch date yet, but the broker has already contacted customers on its website and opened a waiting list for interested parties. Only persons residing in Brazil and already having an investment account will be eligible for the new product.
One of the advantages of Avenue’s current account is that it is integrated with the investment account. fintech does not charge a monthly fee or transaction fee – and there is no extra charge (Spread) Overseas procurement. The only rate of discharge is associated with cash withdrawals, which is $ 2 plus regional fees for ATMs overseas; Anyone wishing to withdraw money in Brazil must pay 3% of the selected amount and regional fees.
In addition to MasterCard’s physical debit card, Avenue works with Apple Bay, Samsung Bay and Google Bay, which is a big difference compared to national competitors. Services are provided by Evolution Bank and the Foundation, which is behind Nomad.
Having a dollar bill would be a good thing for international travelers. In addition to the easier exchange rate and lower fees than prepaid cards, using a foreign debit card can help you escape the 6.38% IOF levied by Brazilian bank cards.
Avenue Account will compete with BS2, C6 and Nomad
It is not new for companies to provide accounts abroad to Brazilian customers.
- Oh PS2 There is an international account with free education. The service, based in the Cayman Islands, is available to Brazilian digital banking customers and includes a MasterCard debit card that allows them to withdraw money from Cirrus ATMs.
- Oh C6 Bank Has a global account with editions in dollars and euros. Maintenance is free, but customers with less than R $ 20,000 invested in Fintech CDBs are required to pay US $ 30 to issue a debit card. This service is located in the Cayman Islands.
- Oh Nomad An American digital bank that also provides services to Brazilians. However, Fintech does not yet offer a physical fire debit card and restricts payments to virtual cards, such as Apple Pay or Samsung Pay.
Startup will provide US account with zero monthly payment and debit card
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