Brazil’s C6 Bank Enables Sending, Receiving Euros Abroad

Customers who have a Global Account with C6 Bank with a balance in euros have a new feature that “allows them to make international transfers in foreign currency.”

The option, which was already available in the Global Dollar Account offered by C6 Bank, serves those customers “who wish, for example, to send money to their children abroad, receive salary from a foreign company, receive rent for their own property located abroad, pay for courses, among other needs.”

The new feature “allows account holders to send and receive euros from any bank account abroad, using the Global Euro Account, in a few steps and directly from the C6 Bank app.”

Maxnaun Gutierrez, head of products and individuals at C6 Bank, said:

“We extended the functionality that already existed for transfers in dollars to euros, making the two versions of the Global Account even more complete for the customer.”

To send an amount in euros , just open the C6 Bank app, tap “Global Account” and then “Transfer euro”.

The next step is “to fill in the data and the amount to be sent, and write the reason for sending.”

The one-time fee “is 30 euros per shipment.”

To receive amounts in foreign currency, just tap on “Receive euro” and, in the “My Data” section, select the “Share” icon. Then, the customer needs “to inform the data of his Global Euro Account and C6 Bank, sharing this information with those who will transfer the money.”

The fee “for receiving is 15 euros.”

It is necessary “to authorize the receipt by the app, which will inform the customer with a notification.” The deadline for receipt “is up to three business days after confirmation of this notification.” For shipping, there are “up to three business days after the customer’s request in the app.” Transfers can be “made any day and time, but will be processed from Monday to Friday, during business hours.”

Available in dollars and euros, the Global Account “offers an international debit card that allows purchases abroad (in physical and virtual stores) and withdrawals in foreign currencies at 2 million ATMs of the Cirrus network and JPMorgan Chase bank, in addition to transfers between accounts abroad that operate via wire transfer.”

To have a Global Account, it is enough “to be an individual account holder at C6 Bank and request the opening of the service in the bank’s application.”

Money is “sent to the account as follows: the customer transfers reais from his current account to his Global Account and there the amount is automatically converted into dollars or euros, depending on the currency of the account in question.”

The transfer “takes place immediately.”

Compared to a credit card purchase, the savings “when using the Global Account is around 7%.”

This is because, “in addition to using the commercial exchange rate at the time of conversion, the service adopts IOF of 1.1% and, during business hours, a spread of 2.5%, in the case of the euro version, and 2% in the account in dollar.”

In a credit card purchase abroad, “the IOF transaction is levied at 6.38% and an exchange spread of 4%.”

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