Comparison
Wise vs Nomad
Two options Brazilians use to handle dollars, with very different fee structures, and why a third, zero-IOF option is worth knowing.
Two different profiles
Wise is a global transfer platform that shines across many currencies. Nomad is a Brazilian dollar account with investing and millions of users. Both solve part of the problem, with very different costs.
IOF and FX
Wise applies 3.5% IOF on real-denominated operations (since July 2025) plus its conversion fee, commonly 4.5% or more all-in for BRL to USD. Nomad charges 1.1% IOF and an FX spread of 1% to 2% that improves only by loyalty tier, the best rate unlocking at roughly $20,000 invested, plus about $10 per transfer.
The third option: Ruvo
Ruvo takes a different route, settling in digital dollars:
- 0% IOF on every operation.
- 0.5% per conversion (reais to digital dollars, or digital to fiat), so 1% reais all the way to dollars, with no tiers.
- Receiving dollars is free, and you can hold the balance in USDT/USDC.
- Instant Pix and an international card with 0% IOF and 0% spread.
A note on fees
Third-party fees and tiers change often. These numbers reflect public data from mid-2026; verify current values on each provider's official site before deciding.
Ruvo vs Wise vs Nomad
| Criteria | Ruvo | Wise | Nomad |
|---|---|---|---|
| IOF | 0% | 3.5% | 1.1% |
| FX to convert | 0.5% per conversion | 3.5% IOF + fee (~4.5%+) | 1%–2% (by tier) |
| Best rate requires | Nothing (from day one) | None | Tier 5 (~$20k invested) |
| Per-transfer fee | None | Variable | ~$10 per wire |
| Hold dollars | Yes (USDT/USDC) | USD balance, no stablecoin | Oriented to reais |
| International card | 0% IOF, 0% spread | Yes (0% spread) | Yes |
Nomad (1.1%) is lower than Wise (3.5%). Ruvo keeps 0% IOF on every operation, lower than both.
The best Nomad rate depends on a loyalty tier that requires roughly $20,000 invested. Ruvo charges 0.5% per conversion from day one, with no tiers.
For the Brazil to US corridor, Ruvo usually costs less: 0% IOF, 0.5% per conversion, free to receive dollars, and a card with no spread.
