BTG Pactual expands to North America, providing customers with USD accounts and digital banking services to meet international investment demands.
As the bank extends its operations to North America, customers of Latin American (LatAm) investment bank BTG Pactual (BPAC11) can now access US dollar accounts and banking services.
Instant exchange, debit cards, transfers, and investments are among the options that customers can use. They will also be able to pay, withdraw, and transfer money both online and in real stores. All of this is possible while they still have access to their digital wallets for Google Pay and Apple Pay.
Marcelo Flora, the partner in charge of digital platforms at BTG Pactual, says, “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.”
Benefits of a Foreign Investment Account
Clients can access many listed assets with the International Investment Account. These include of stocks, exchange-traded funds (ETFs), American depositary receipts (ADRs), shares, and real estate investment trusts (REITs), which resemble Brazilian real estate funds and facilitate the creation of a diversified investment portfolio.
The bank anticipates growing the product selection in the upcoming months. Along with other services, it hopes to provide fixed-income bonds and investment funds.
Our banking and investing applications are fully linked. As a result, opening and utilising an account is as easy for clients as feasible. In the US, we now have an investment account option available, albeit it’s better suited for larger tickets. In order to enable everyone to invest or conduct business in the US, we are currently democratising access to the US market, Flora continues.
Direct app opening will occur concurrently for both local and foreign accounts. Clients must have current BTG Banking and Investimentos accounts in Brazil in order to qualify. Opening an account is free of charge, and depending on the terms of the product, customers who have already made investments with the Bank might not be charged monthly fees.
Clients will be able to move assets from other institutions to their international investment account at BTG through the platform, which also facilitates custody transfer. Access to research materials and connection with a platform for tax computation are further advantages.
The international account announcement highlights BTG Pactual’s plan for global expansion. The Bank’s acquisition of the FIS bank in Luxembourg was recently approved, and it will enhance the operations of the Bank’s current locations in Portugal, Spain, and the UK.
