Foreign Exchange in Rio de janeiro; banks in Rio

Foreign Exchange in Rio; Cash
To start with itīs important to know what todays exchange rate is. Go to www.xe.com to easily find out (click more currencies to get the Real). The rate you will get is a flat rate so donīt count on getting all that, but it gives you an idea. Then you will have to go to a travel agent or change office (cambio) that does exchange, they are located along the main streets in Copacabana and Ipanema. Itīs a good idea to compare maybe two or three of them, a little negotiating never hurts. Donīt count on them accepting odd currencies although they sometimes do; often with bad rates though. The exchange rates you get at the airport is not good so just change a little bit there. The change offices are open commercial hours, closed on Sundays and open only until about 2 PM on Saturdays. When it comes to banks only some agencies of Banco do Brasil offer this service, the rates are not better and the opening hours short so itīs really not worth the hassle.

Foreign Exchange in Rio; Cards
This is a complicated matter, depending on your bank and the configuration of your card decides what banks you can use. I will give you a few hints though. In general VISA works a lot better than Mastercard, American Express would be difficult. It should say on the machine what cards it accept (if it says Cirrus Mastercard should work). Avoid the machines where you insert the card entirely since it might chew it. The machines are normally open from 07h until 22h, the banks open around 10h and close 16h (this varies though). The banks below are worth trying, click on the link and with a bit of navigation you can find the agency closest to you:

- Banco do Brasil The bank that in general offers the best rates. Most of the time has machines that work with International cards. Also accepts withdrawals with VISA card and passport over the counter.

- Itaú International cards donīt seem to work in their machines. Accepts withdrawals with VISA card and passport over the counter though.

- Bradesco The machines work well with VISA cards. The rate is not always that good.

- Banco Santander Sometimes works with VISA, not the first choice.

- Citibank Reliable with both VISA and Mastercard, the rates and fees are not among the best for you.

- HSBC The same as with Citibank, works well but they take more of your money.

- Banco 24 Horas The machines work well with VISA and Mastercard. The rate is quite bad. They are often placed in commercial establishments and therefor available only when that particular one is open. The ATM at the International Airport (GIG) is always open.

Neither Unibanco, Caixa Economica or Banco Real seem to be working with foreign exchange in Rio.

Foreign Exchange in Rio; Traveller Cheques
Thomas Cook is not a good option. You will be given a really bad exchange rate if they are accepted. As for American Express they offer good rates and no charge in two of their own agencies. One is in Copacabana Palace hotel on Av. Atlântica 1702 map, and the other is in Terminal 2 at the International Airport (GIG).

Bank Services at the Airports (of interest)

GIG - The International Airport:
Banco do Brasil has a bank with exchange service open everyday 8h/22h in Terminal 1.

ATMīs in Terminal 1: Banco do Brasil, HSBC and 24 Horas. ATMīs in Terminal 2: Banco do Brasil and HSBC.

Exchange services in Terminal 1: Banco do Brasil. Exchange services in Terminal 2: American Express

SDU - Santos Dumont Airport:
There are two banks: Itaú and Bradesco

Sending and Receiving money
As for sending money the answer is simple. If you are not a holder of a Brazilian bank account, you cannot send money to other countries. You can receive money though, quite a few agencies of Banco do Brasil have Western Union services.

Safety
Itīs best to make your withdrawals cash daytime to minimize the risc of getting robbed. Keep your eye open for suspicious characters. A few words about the cloning of cards: There has been quite a lot of this the last few years, a little device is placed in front of the slot of the ATM and with the details obtained money has been stolen from accounts. I havent heard about anyone not getting the money back from their bank but unfortunately most people get it only when they return back home showing a police report. This could severely hamper your trip budget so watch out for suspicious ATMīs. If you have internet access to your bank account, always check after you have used the card.

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