How a specialized foreign exchange bank facilitates your company’s entry into the Brazilian market By Studios

In 2021, foreign investment in the country represented $58 billion, an expressive growth compared to 2020, which was $28 billion, as disclosed by Unctad. The Commerce Department expects these investments to accelerate in the second half, reaching $60 billion by the end of the year, representing a 76% growth in Foreign Direct Investment (FDI) compared to the previous year. Investing in Brazil requires transfer of funds and registration of any capital transactions, which involve cross-border transactions. The register of these transactions can be of a high complexity. That’s why a bank specializing in FX makes all the difference to your business by providing expertise and reliability when it comes to operating in the Brazilian market. This article introduces Travelex Bank, the largest foreign FX specialist in Brazil, products and solutions are designed to support your company in expanding into Brazil and doing business in the country. About Travelex Bank
Travelex Bank, founded in 2010, is the first foreign exchange bank in Brazil, meaning it is the first financial institution specializing in and operating only in the exchange of foreign currencies fully licensed by the Central Bank of Brazil. Travelex Bank is a specialist bank that combines operational efficiencies, product and regulatory expertise with recognized advisory capabilities to help clients securely conduct their transactions and develop solutions, all at competitive rates. The differences of Travelex Banks The bank offers a complete suite of products for international payments, foreign trade, capital investment and other specific products such as batch transactions for remittance companies and payment facilitators, Travelex Bank‘s capillarity. “The bank grew with a focus on providing the best solutions in the foreign exchange market, for both corporate and private customers. Today we are expanding our activities and working with foreign companies that want to bring their business to Brazil,” said Paulo Marcos, commercial director of Travelex Bank† Specific knowledge The bank’s unique foreign exchange expertise in the Brazilian market provides an advisory capacity that makes a difference to your company’s business operations. According to Paulo, the specialized assistance provides a better working environment, identifying the most appropriate time to transact with tailor-made solutions, reducing risks, costs and taxes on the final transaction value. “We want our customers to have access to a complete service that fully understands the needs of any business while providing an excellent experience, both physical and digital,” concludes Paulo. 100% Personal The team of highly experienced FX specialists is a clear difference in the market. The bank offers a bilingual and multi-channel service available on its various platforms. All solutions are designed according to customer needs and guarantee a personalized service close to the customer. Tailor-made solutions
Travelex Bank has solutions that meet the most diverse foreign exchange needs and the experience of specialists who have extensive knowledge of the market characteristics and the rather specific local regulatory framework. For foreign trade companies starting negotiations with new suppliers or buyers in Brazil, Travelex Bank offers products such as letters of credit and document collections, making international export or import goods operations simple yet secure. More complex, non-daily transactions, such as the payment of dividends and royalties or capital transfers, are handled by our specialists with a focus on due diligence with legal requirements. For international payment facilitators and remittance companies, the bank offers a state-of-the-art technology platform and highly efficient performance with compliance and AML risk assessment required by local authorities. “We recently attended the International Money Transfer & Payments Conferences (IMTC), the largest money transfer event in the world. There was an overwhelming audience due to the strong interest in the Brazilian market and we have the ability and expert knowledge to support these companies in growing their business safely and reliably,” says Paulo. 100% digital
Travelex Bank provides an internet banking platform that allows clients to digitally record FX trades up to US$300,000. The platform is accessible from any country worldwide once the responsible relationship manager has gained access. Travelex Bank in brief Compared to the previous year, in 2021 the currency volume in USD negotiated by the bank in the primary market will grow significantly by 80%, according to the ranking of the Central Bank of Brazil. The volume of inbound cross-border transfers increased by 50% compared to 2020, proving the relevant role of the bank in the local currency markets. In addition to expanding its business with foreign customers, Travelex Bank intends to expand the bank’s physical presence abroad as well. “We plan to expand our commercial presence in Miami and London in 2022 and 2023. We are studying the market and our options for taking action,” concludes Paulo Marcos.

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