Banco Itaú International guide

Banco Itaú®¹ is formally called Banco Itaú Unibanco®, and was created in 2008 through a merger of Banco Itaú and Unibanco®. It’s the biggest Brazilian bank and the largest in Latin America, with operations in several other countries in the region, too.

This guide walks through the services available from Banco Itaú International®, the Itaú private banking arm which operates globally². We’ll look at what you can do with Itaú international banking, and also some of the alternatives you may want to compare for international exchange and payment services, such as money transmitter Wise.

What is Banco Itaú International?

Banco Itaú has a couple of international and global service subsidiaries or divisions — including Banco Itaú International which is a marketing name of Banco Itaú Private Banking.

There’s a UK subsidiary called Itau BBA International³ (IBBA), similar operations in Europe, and in the US, Banco Itaú customers can get a selection of services through Banco Itaú Private Banking, online and through their agent offices in locations including Miami.

What services does Banco Itaú International offer?

Banco Itaú international services are offered through the Itaú private banking arm. We’ll take a look at some of the key products and services provided for customers looking for wealth and asset management in just a moment.

First though, let’s check out one specific offering that may appeal to anyone looking to manage their money internationally: the Itaú Global Wallet⁴.

With a Banco Itaú Global Wallet you can hold and exchange 7 global currencies and get a linked card for convenient spending and withdrawals globally.

The wallet is a digital only account linked to your Banco Itaú Private bank international account, which lets you set up automatic top ups so you never run short of funds. Just link your international account to the Global Wallet, and activate automatic top ups to get preferential exchange rates and easy ways to spend globally.

Private banking with Banco Itaú International

Banco Itaú Private Bank primarily offers wealth and asset management, as well as advisory services for high net worth individuals looking to save and invest.

Services include investment, portfolio management and wealth planning, and are generally delivered via personal advisors and brokers.

As with most private banking services you’ll find there are high minimum balance requirements and strict eligibility rules. If you’re unable to maintain the balance needed for the products you want to open, you’ll pay a high fall below fee.

Corporate services at Banco Itaú International

Banco Itaú International has a selection of services, accounts and products aimed at businesses and enterprise level customers, as well as institutional investors.

Learn more about Itaú corporate services on the desktop site of the specific Itaú country or region you’re in.

Can you make international transfers with Banco Itaú International?

Banco Itaú International is part of the Itaú Private Banking division. Whether or not you can make international transfers will depend on the specific account type and Itaú entity you’re with.

Double check all the terms and conditions that apply to your account to see what services are available for you.

Banco Itaú customers who use a local Itaú banking operation, such as Banco Itaú Brasil can make Banco Itaú international payments and transfers online and through mobile banking easily.

International money at the tip of your fingers: get the Wise Account

Open a Wise Account online or in the Wise app, to hold and exchange 40+ currencies, with the mid-market rate and low fees from 0.41%.

Get cash conveniently around the world, with some fee free withdrawals every month, and low fees of 1.5 USD + 2% after that. That can work out cheaper than using your bank card for overseas withdrawals.

Check out these other handy Wise personal account features:

Hold and manage money in 40+ currencies from your phone Send and receive money internationally to 80+ countries with low fees from 0.41% Opt in to receive Annual Percentage Yield (APY) on your USD balance with Wise’s interest feature (subject to change, certain limitations apply — see Program Agreement for more information) Spend in 150+ countries with the Wise card, with transparent and competitive fees Conveniently get instant updates and track transactions on the go with the Wise mobile app Robust security measures and encryption to protect your funds and personal information.

Get a Wise Account
in minutes

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up-to-date pricing and fee information

How can you open an account with Banco Itaú International?

To open an account with Banco Itaú International you’ll need to head to their desktop site and fill in your personal and contact details on a form.

You’ll then be contacted by the specific team which can support your request to handle your application and onboarding.

Banco Itaú International alternatives

There are quite a few alternatives you may want to compare to Banco Itaú, although which suits you will depend to a large extent on which services you need.

If you’re interested in Itaú for the Global Wallet product, check out Wise as a smart alternative which supports more currencies with fewer eligibility requirements. With a Wise account you can quickly send payments to 80 countries, and pay with Pix, bank transfer or card.

You’ll be able to hold 40+ currencies, spend with your Wise card in 150+ countries and get paid with local bank details in 9 currencies too. Best of all, every time you need to convert currencies to send or spend, you’ll get the mid market rate with now fees from 0.43%⁵.

If you’re more interested in private banking or investment and portfolio planning solutions with a global edge, you may also want to compare Banco Itaú to other big global banking giants like HSBC®.

HSBC International⁶ offers overlapping services to Banco Itaú, including wealth management and investment for high net worth individuals. There’s also a handy digital wallet⁷ you can use for global spending with preferential rates.

Banco Itaú International locations

Banco Itaú has a US office in Miami where you can get personal support and service if you’re an investment client. Other US offices are available based on your specific account type and relationship with the bank, including in New York.

They also have a presence in other countries including Portugal and Colombia⁸.

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Banco Itaú International FAQ

Does Banco Itaú International offer online banking?

There’s online and mobile banking on offer from Banco Itaú, although exactly what you can do will depend on the type of account you hold, and which Itaú entity you’re a customer with.

How does Banco Itaú International ensure the safety of my funds?

Banco Itaú is a large and reputed bank, which is safe to use. However it’s important to understand that your money may not be protected in the same way as it would be in a US based, FDIC insured bank.

The exact protection offered depends on the account or product type you have and which local Itaú entity you opened it with.

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Banco Itaú is a large and reputable bank which offers services primarily in Latin America, across a broad selection of countries. Itaú also has a presence in the US, Europe and beyond, through their Itaú Private Banking arm which includes Banco Itaú International.

The international services available tend to focus on high wealth individuals who are looking for wealth and asset management solutions, although there’s also a handy wallet for holding and spending foreign currencies.

Compare Banco Itaú with alternative solutions, like Wise which offers multi-currency accounts with no minimum balance or ongoing fees, as well as easy ways to send and spend in foreign currencies, with the mid-market rate whenever you need to switch from one currency to another.

Wise isn’t a bank, it's a licensed money transmitter, but if you’re looking for simple, flexible ways to manage your money across currencies, it could be a good fit, with low, transparent fees and the mid-market rate every time.

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Sources:

1. Banco Itaú
2. Banco Itau Private banking
3. Itau BBA International
4. Global wallet
5. Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information
6. HSBC International
7. HSBC Global Money account
8. Banco Itaú - USA

Sources checked on 07.25.2023