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Direct Deposit

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cregger
4/16/2019 14:34 EST

Hello. I was wondering if Bradesco accepts direct deposit of Social Security? If not, are their other Brazilian banks that do ? Thank you

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pensadenos
4/16/2019 15:06 EST

cregger..........I'm not sure why you would like to make direct deposits of your US SOC into a Brazilian Bank, but I would advise against it. Here are my reasons. I have lived in Brazil for 9 yrs and Brazilian Banks ARE NOT YOUR FRIEND! Remember that especially when they make it difficult to withdraw large sums out of your account or when they switch the type of account you have to something that will cost you more in fees without telling you! Bill pay for each bank is different and Bradesco for instance will not allow us to pay the electric bill on line unless we call the bank first or go down in person to authorize release of this payment. Best idea is to leave it in an account in a bank like Bank of America and then withdraw it as needed. Even to withdraw money to deposit into the Brazilian bank to pay bills. BofA's debit card works well in Brazil at points of sale and for ATM withdrawals. In Brazil.....PROTECT your money and limit how much exposure you have with Brazilian Banks.

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cregger
4/16/2019 15:28 EST

Thank you, I appreciate the advice.

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Brazil16
4/17/2019 10:20 EST

Just from what been told Social Security won’t due direct deposit out of the US.

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