BTG Pactual, the largest investment bank in Latin America, announces that it is starting to operate its international accounts in the United States. Gradually, clients will have access to a complete platform of services, including instant exchange, debit cards, transfers, and investments.
“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”, says Marcelo Flora, the partner responsible for digital platforms at BTG Pactual.
Clients will have access to a US dollar account and banking services including withdrawals, payments, and transfers, an international debit card for purchases in physical stores or online, and access to Apple Pay and Google Pay digital wallets.
With the International Investment Account, clients will have access to several listed assets, such as Shares, ETFs, ADRs (which enable investing in shares of foreign companies) and REITs (similar to Brazilian real estate funds), which enable the construction of a diversified investment portfolio. The Bank’s expectation is to expand the product shelf in the coming months, offering investment funds and fixed income bonds, in addition to other services.
“Everything is already integrated into our Banking and Investment applications to make client experience as simple as possible, when opening and using their accounts. We already offer an investment account option in the United States, but more suited for larger tickets. Now, we are democratizing access to the US market so that everyone can invest or do their banking in the USA”, Flora stresses.
As with local accounts, international accounts will be opened simultaneously, all done directly on the app. To be eligible, clients must have an active BTG Investimentos and BTG Banking accounts in Brazil. There is no cost for opening accounts, and clients who already invest in the Bank may be exempt from monthly fees, according to the product’s rules.
The platform also enables custody transfer and clients will be able to transfer assets from other institutions to their international investment account at BTG. Other benefits include access to research content, and integration with a tax calculation platform.
The announcement of the international account underscores BTG Pactual’s international expansion strategy. The Bank recently received approval for acquiring the FIS bank in Luxembourg and will complement the activities of existing offices in Portugal, Spain, and the United Kingdom.