Best account to receive USD in Brazil
There’s no single “best” account for everyone. The right choice depends on your fees, exchange rates, tax situation, and how you use your money.
What actually determines the cost of receiving USD
- Conversion fee and the spread baked into the rate (a low advertised fee means nothing if the spread eats the difference).
- IOF and settlement speed.
- Whether you can hold a dollar balance and who controls it (self-custody vs the provider holding your funds).
- Card, sending and crypto, and the quality of business support.
Watch out for hidden spreads
A practical example: receiving $4,000 a month
- Traditional bank via SWIFT: often costs 4%–8% all-in, or roughly $160–$320 per month. That's up to $3,840 per year, with funds typically taking several business days to arrive.
- Other fintechs: commonly charge 1.5%–4%, or about $60–$160 per month.
- Ruvo: 0.3% for businesses (~$12 per month) or 0.5% for individuals (~$20 per month), with 0% IOF, free to receive, and Pix settlement in seconds.
For a detailed breakdown at $5,000/month, see our developer case study.
What’s not included in your rate
- Lets you hold USD instead of forcing an immediate conversion to reais, avoiding forced conversions at bad times when exchange rates can be worse - including differences between market-hour and off-hour pricing.
- Clearly explains whether your funds are custodied by the provider or held in accounts you directly control.
- Doesn't impose restrictive receiving limits or recurring monthly fees.
- Includes useful features such as a card, local transfers, and the ability to send funds.
- Allows Pix transfers to third parties, not just your own bank account.
- Provides fast, responsive customer support when issues arise.
Choosing the right account
- Recurring USD income as a business? Focus on low costs and holding dollars. See how to receive USD as a business.
- Comparing providers? See Wise vs Ruvo and Nomad vs Ruvo for direct comparisons.
- Spending abroad frequently? A 0% IOF card can often save more than small FX differences, depending on how you spend.
- Working remotely for a foreign company? Your employment structure also affects which account works best — see our guide to remote work for foreign companies.
Pix to any key, not just your own
Where Ruvo wins
- Receive funds with no incoming fees
- Hold USD under your control
- Convert at 0.3% (business) or 0.5% (individual)
- Spend on a 0% IOF card
- Send via Pix, ACH, wire, or crypto
How to compare your options
| Criteria | Ruvo | Traditional banks | Other fintechs |
|---|---|---|---|
| IOF | 0% | 1.1% to 3.5% | Varies |
| FX (business) | From 0.3% | 4% to 8% (all-in) | 1.5% to 4% |
| Settlement | Instant (Pix) | 1 to 5 business days | Hours to 1 day |
| Dollar balance | Yes, self-custody (USDT/USDC) | Rarely | Sometimes (custodial) |
| International card | 0% IOF, 0% spread | With IOF | Varies |
| Send / crypto | Any Pix key, ACH, wire, crypto | No | Often own Pix key only |
It is when an account advertises "no fee" but offers a rate worse than the real one, burying the margin there. So compare the effective rate, not just the advertised fee. Ruvo shows the market rate and charges an explicit fee on top.
Not always. Businesses have higher volume and benefit from lower FX (0.3% at Ruvo). Individuals often prioritize simplicity and the no-IOF card for spending abroad.
Yes. The Ruvo international card has 0% IOF and 0% spread on dollar purchases (1% on other currencies), unlike Brazilian cards that add 3.5% IOF plus a 2% to 5% FX markup on spending abroad.
It depends on your cash-flow needs and view on the rate. Holding dollars means you avoid converting at a bad rate and can spend internationally without reconverting. But if you have predictable reais expenses, convert enough to cover them and hold the rest. Most people find a mix works best: convert a fixed monthly amount for bills and expenses, hold the remainder.
Ruvo supports both PJ and PF accounts under one login with separate balances and conversion rates. Using a single account for both types of income is not recommended — keeping them separate simplifies accounting and avoids mixing that can complicate your IRPF and CNPJ filings.
Safety depends on the institution and how the funds are held. Ruvo holds dollar balances in a regulated US account structure. Stablecoin balances (USDT/USDC) are backed by the issuing reserve structure, not by Ruvo itself. For very large balances, diversification across institutions and asset types is worth discussing with a financial adviser.
