Brazil has a modern banking system which, like many countries, allows foreigners to withdraw local currency from ATM machines. Many retailers support the use of debit and credit cards, particularly in larger urban areas and those popular with tourists.

Brazil is still, however, primarily a cash economy and the availability of debit and credit facilities varies enormously depending upon where you are. The penetration of these services is nothing like that of European levels, and it is wise to remember to carry enough cash, particularly in rural areas.

If you are intending to purchase property or spend a significant amount of time in Brazil, you may well decide to open a Brazilian bank account. The convenience of withdrawing local currency against your UK account is obviously offset by charges and unfavourable exchange rates, therefore opening an account with a local bank and thereby avoiding or reducing these overheads makes financial sense.

When looking for a bank, try to find one that is accredited with the Association of Commerce Banks (ACB) – a recognised umbrella organization for reputable banks. Most Brazilian banks employ some English speaking staff who can assist you in opening your account. Increasingly banks in Brazil, particularly the larger ones, such as Banco de Brasil, are adopting online banking services to facilitate transfers, bill payments and the like. It also possible to pay certain bills at ATM machines – the bill will include a machine readable bar code that you “swipe” through the ATM.

Incidentally “hole in the wall” type cash machines are uncommon in Brazil since Brazilians dislike the perceived lack of privacy and security when undertaking any transactions directly on the street. As a result most ATMs are situated within banks, lobbies or dedicated booths.