Consumers of Latin American (LatAm) investment bank, BTG Pactual (BPAC11) are now able to access US dollar accounts and banking services as the bank expands its operations to North America.
The services available to clients include instant exchange, debit cards, transfers and investments. Furthermore, they will be able to make withdrawals, payments and transfers in physical stores and online. They can do all while maintaining access to their Apple Pay and Google Pay digital wallets.
“We are very pleased and satisfied in delivering a platform that meets the demand of the market and of our clients who intend to invest abroad or want to rely on a differentiated product in their overseas travels, with the quality and solidity of the largest investment bank in Latin America“, says Marcelo Flora, the partner responsible for digital platforms at BTG Pactual.
Perks of an International Investment Account
With the International Investment Account, clients will have access to several listed assets. These include shares, ETFs, ADRs (which enable investing in shares of foreign companies) and REITs (similar to Brazilian real estate funds), which enable the construction of a diversified investment portfolio.
The bank’s expectation is to expand the product shelf in the coming months. It aims to offer investment funds and fixed-income bonds, in addition to other services.
“Everything is integrated into our banking and investment applications. This makes the client experience as simple as possible when opening and using their accounts. We already offer an investment account option in the United States, but more suited for larger tickets. Now, we are democratising access to the US market so that everyone can invest or do their banking in the USA“, Flora adds.
Local accounts and international accounts will open simultaneously directly on the app. To be eligible, clients must have active BTG Investimentos and BTG Banking accounts in Brazil. There is no cost for opening accounts, and clients who already invest in the Bank may be exempt from monthly fees, according to the product’s rules.
The platform also enables custody transfer and clients will be able to transfer assets from other institutions to their international investment account at BTG. Other benefits include access to research content, and integration with a tax calculation platform.
The announcement of the international account underscores BTG Pactual’s international expansion strategy. The Bank recently received approval for acquiring the FIS bank in Luxembourg and will complement the activities of existing offices in Portugal, Spain, and the United Kingdom.