Almost a full year with my Brazilian revolut account and still waiting for it to become a little more Brazilian, at least a way to use my BRL balance on my debit card.
But your biggest competitor is now supporting the amazing Brazilian instantly payment and bank transfers, I mean the PIX
I won’t repeat myself complaining about all the things missing for the Brazilian clients, there’s another topic for it, I’m just a little disappointed because things are taking longer than expected to happen
Will it take that long to do this integration?
I’m pretty sure that all Brazilian accounts are still on Singapore branch of revolut, they only receive BRL on their (revolut) account (not individual number accounts) on a exchange house, so basically we can only receive bank transfer from ourself and by seeing who send the money they deposit on the Revolut account of the same CPF (TAX ID).
And the BRL balance isn’t available on the revolut card, needs to be converted to another currency paying 1.1% taxes on it.
When revolut start to host their BRL accounts by themselves, integration with PIX should be easy.
Isn’t like something very secret, PIX have a GitHub GitHub - bacen/pix-api: API Pix: a API do Arranjo de Pagamentos Instantâneos Brasileiro, Pix, criado pelo Banco Central do Brasil.
Everyday a new digital account appears in Brazil already with PIX support, I don’t understand why revolut is taking so long, they got their banking license (open accounts without a bank partner and issue credit cards) for over 6 months is I remember correctly
I would love to know the size of the team working on the revolut Brazilian branch
If I understand correctly, there is github about pix and there is still no integration? For Brazilians, PIX is like FEDNOW for Americans, PIX is really very important in a digital account
@Cleber Hello, Welcome to the community.
@Eudes Thanks for your insightful feedback! We fully understand your frustration and eagerness for PIX integration. While we can’t disclose specific timelines rest assured we are working on improving our service offerings.
Veda | Community team
I have problems regarding payments as well, i cant receive payments by Pix in my Revolut account, nor can i pay someone using their CPF, i do only have this other brazillian bank account to receive payments in Pix and pay people using their CPF. Unfortunately this is the only way brazillian people move money now, they dont use TED anymore.
@dCo3lh0 Hello, Welcome to the community.
We understand your frustration regarding Pix payments and payments using CPFs. Currently, Revolut in Brazil doesn’t support receiving payments via Pix or sending payments using CPFs directly.
We’re aware that these are popular methods in Brazil, and we’re actively working on expanding our functionalities to include them in the future.
Veda | Community team
An airline (GOL) just started to offer their own bank account in Brazil, since it doesn’t requires offering credit (like credit card, that they already offer but not everyone qualifies to receive credit) and they already support PIX, like any other random account that just appears from nowhere.
I’m very disappointed with Revolut because of the slowness, in a few days my account will be one year old and nothing changed since opening
Even traditional banks like itaú, satãnder (sorry santander) and Bradesco who are slow to innovate and very conservative are already offering USD/international some even euro accounts (partnering with some fintech or foreign bank).
I read that Revolut already got their Brazilian bank license but is still using a partner for hosting BRL balance, why it’s taking so long?
Credit card would be an attractive for Brazilians on the way you guys doesn’t see in other countries, but the exchange rate and taxes (IOF) on foreign transactions worries me, if ending being the same was any Brazilian credit card, what would be the advantage of Revolut if the disadvantages are the same?
But I would like to primary having a functional BRL account on Revolut since I already have too much credit cards.