We’ve become a licenced financial institution in Brazil — so your international transfers are our responsibility now, without the use of intermediaries.
This means we have more flexibility in the future to bring down prices, offer new products and services, and add new payment methods.
Is Wise a bank in Brazil now?
We report directly to the Central Bank of Brazil now. But this doesn’t mean we’ve become a bank. We still need a local bank account to operate and move your money around. For this, we’re using JP Morgan — where we hold our own operating account to transfer money abroad, which is under our responsibility.
What you can and can’t do
We’re still making some operational adjustments to our new licence so some of our features aren’t available yet for Brazil.
Send money to personal BRL accounts
Send money from personal BRL accounts
Add money to your balances in BRL
Send money to or from BRL business accounts
Hold a BRL balance
Get a Wise card in Brazil