Webster Bank international wire transfer: Fees, limits, and rates
Read on for everything you need to know about sending and receiving international wire transfers with Webster Bank.
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.
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.
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.
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.
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.
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.
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: |
---|
|
Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up-to-date pricing and fee information
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.
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 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.
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.
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.
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.
Sources:
Sources checked on 07.25.2023
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
Read on for everything you need to know about sending and receiving international wire transfers with Webster Bank.
Here’s everything you need to know about sending money orders with Publix. We cover fees and costs, limits, and how to fill one out. Read on to learn more.
Here’s everything you need to know about sending money orders with Kroger. We cover fees and costs, limits, and how to fill one out. Read on to learn more.
Read on for everything you need to know about sending and receiving international wire transfers with Everbank.
Read on for everything you need to know about sending and receiving international wire transfers with Huntington Bank.
Here’s everything you need to know about international wire transfers, including the options available, what information is needed, and how to fill one out.