PIX support and some BRL love

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 :money_with_wings:

https://wise.com/us/blog/easier-to-send-money-to-brazil-discover-the-power-of-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 :pensive:

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Will it take that long to do this integration?

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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 :cry:

I would love to know the size of the team working on the revolut Brazilian branch

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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

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@Cleber Hello, Welcome to the community. :blush:

@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. :pray:

Veda | Community team

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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.

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@dCo3lh0 Hello, Welcome to the community. :heart_eyes:

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. :frowning_face:

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. :pray:

Veda | Community team

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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 :cry:

Even traditional banks like itaĂş, satĂŁnder (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.

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“what would be the advantage of Revolut if the disadvantages are the same?”

I’m a client as well but i can answer you, you can hold your balances in most currencies in the world that you want to hold for long prospects evading inflating currency seasons that your country are printing without stop, you can trade cryptocurrencies, which lots of companies are hostile against. You can use it anywhere in the world, including your own country, for me inflation is much worse than transaction taxes. The only problem is doing transactions with other accounts without the card, you can use to pay anywhere, but to do transactions with other accounts in Brazil its impossible, you need to send money back to a Brazilian bank, since you can only send money from Revolut and back to your account in Brazil and do the transfer, deposit, ted, pix anything. that the only minus point, its a bad negative point but the others are hugely positive as well.

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Revolut seems pretty nice for an international travel account but it lacks the bare minimum of a Brazilian account.

I have my account for a year and didn’t used it yet, just converted some spare money do USD/Euro but haven’t used my card because makes no sense using it to pay in Brazil (just wasting 1.1% of the value in taxes since I need to convert my balance to USD to be available on my debit card).

I want to use my revolut but seems like my revolut doesn’t want me to use it.

On international traveling on the neighboring countries (Argentina, Uruguay, Paraguay) using my revolut card would save me 15% in taxes and spread of a regular Brazilian credit/debit card but I would like to use my revolut also in my own country (maybe with a credit card) :credit_card:

But most important are the PIX, BRL balance availability on debit card and possibility to pay bill and boletos.

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Seems like finally will happen!

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One year (ok 11 months) to be some news about it, but still waiting for an official announcement on Revolut app itself.

Or at least an e-mail informing my Brazilian bank account details.

I hope it also allow foreign to have BRL balance and PIX, it would be really useful when in Brazil.

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