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Best online Banks in Brazil

People often call online banks “neobanks,” “virtual banks,” “mobile banks,” “digital banks” or “challenger banks.” They only do business online and don’t have any physical locations.

Best online Banks in Brazil

In the last few years, we have looked at and used dozens of banks in Brazil, Latin America, and around the world. So we can give you this overview of the online banking market in Brazil.

In recent years, the number of start-ups in Brazil’s financial sector has grown dramatically, and many fintech start-ups have grown into full-service banks.

This is like what is happening in the rest of the world, where more and more digital-only banks are opening in Europe and the United States.

In 2018, banks made between R$30 billion and R$35 billion from account fees in Brazil alone. Maintenance fees and other hidden fees cost Brazilians a lot of money, and digital banks want to offer a more honest and open service.

Brazil could have more than 200 million digital accounts by the end of 2021. That’s a lot. Even though that could mean that almost everyone in Brazil, even kids, has a digital account, that’s not the case.

In reality, the average Brazilian has 3.6 bank or other financial institution accounts.

Based on the number of customers, the top three independent digital banks are:

  • Nubank with 35+ million
  • Inter with 11+ million
  • C6 Bank with 7+ million
  • Original with 5+ million

The numbers above show that there is still a lot of room for growth, which is clear from the fact that Brazilian bank apps and digital wallets are downloaded more than 20 million times each month.

Many online banks say that they are “fee-free” or that there are “no hidden fees.” In some cases, this also applies to transactions that take place outside of the country. Online banks that don’t charge fees for international transactions and ATM withdrawals abroad are especially appealing to people who travel often, since bank fees can add up quickly when you’re abroad.


Let’s find out which online banks in Brazil are the best.

Nubank bank - logo


  • Easy to start a personal or business account online
  • Credit card and metal card
  • No hidden fees
  • No monthly fee
  • Loans

At the moment, Nubank is the largest digital bank in the world. It got more than 40 million customers, most of them in Brazil but also some in Mexico and Colombia. It will soon make its app available to people in Argentina as well.

It’s easy to understand why. Both the personal and business accounts are free and have everything you need from a bank account. The personal account in particular.

Like any other online bank, Nubank has both good and bad points. But for such a big bank in Latin America, it’s surprising that there aren’t many things that are against it.

Agibank bank - logo


  • Easy to open online
  • Checking account
  • Investments
  • Debit and credit cards
  • Insurance
  • Pix
  • Loans

Agibank used to be called Agiplan, and it was started by Marciano Testa all the way back in 1999. It has the record for being the first bank in the world to turn users’ cell phone numbers into checking account numbers.

Even though Agibank is a completely online bank, it still has what are called “service points” in different parts of the country. This is unusual for a digital bank, but it gives them a leg up on the competition.

In addition to checking accounts, the bank offers personal and car loans, debit and credit cards, money transfers, and even ways to invest.

C6 Bank - logo

C6 Bank

  • Free to open
  • Free debit card
  • No-annuity credit cards
  • Rewards program
  • Toll and parking tag
  • Investing

In 2018, the C6 Bank was started, and in 2019, it got its license to do business and started taking on customers. C6 has free accounts for both personal and business use. On top of that, there are many kinds of credit cards, and one of them doesn’t have an annuity. You can also get a free debit card.

If you want to put your money to work, you can start with as little as R$1.

The things you can invest in are:

  • CDBs,
  • Funds,
  • BDRs,
  • Options,
  • ETFs,
  • Shares,
  • REITs.

C6 is a well-rounded bank that offers a lot of financial products and services, such as a global account, a dollar account, and a euro account.

banco Inter bank - logo

Banco Inter

  • Easy to sign up for
  • Accounts for personal and business use
  • Home mortgages and loans
  • Debit and credit cards
  • Investing
  • Exchange

Banco Inter started out as Intermedium Financeira all the way back in 1994. In 2008, they got a license to run a bank. In 2021, Inter had gained more than 9 million new account holders.

The company has a full range of financial services, including personal and business accounts, loans, mortgages, investing, insurance, and everything else you’d expect from a traditional bank.

Banco Pan bank - logo

Banco Pan

  • Apply online in minutes
  • Debit and credit cards
  • Car loans
  • Insurance
  • Overdraft

Pan has been around since 1969, when the all-around Silvio Santos started it. The bank doesn’t have any branches that are separate from it. Still, it has a large sales network that is run by a lot of partners.

It has a digital account, a credit card, payroll loans, cards, insurance, car loans, and finance. Banco Pan is one of Brazil’s biggest midsize banks, which makes sense.

Like the other digital banks in Brazil, Pan also lets you send money for free and instantly through PIX.

Banco original bank - logo

Banco Original

  • Personal and business account
  • Insurance
  • Investing
  • Loans
  • Cashback rewards

Banco Original used to focus on farming, but now it has accounts for both individuals and businesses. The account can be opened completely online and in just a few minutes. For only R$19.90 a month, you can use as many services as you want without being charged extra.

You can choose from four Mastercard credit cards that either don’t have an annual fee or give you the first year for free.

You can also get a loan, insurance for your home or car, or invest in CDB, LCA, LCI, or any of a number of investment funds.

Neon bank - logo


  • Accounts for personal and business use
  • Free transfers
  • No-annuity credit card
  • Free international debit card
  • Loans and investing

Neon gives you a free digital account and credit cards that don’t cost you anything every year. Also, there are no hidden fees, and the two most important ones are R$5.90 for ATM withdrawals from Banco24Horas and 4% + IOF for international transactions.

There are also free MEI accounts for people who make up to R$ 81,000 per year in sales.

Superdigital bank - logo


  • Accounts for personal and business use
  • Ready to go
  • Card and transfers are free
  • 1 physical card and up to 10 cards you can use online
  • Loans

Superdigital has free accounts for both personal and business use that can be closed at any time. You also get a prepaid Mastercard and up to 10 virtual cards you can use to shop online.

People with a bad credit history can also get a prepaid credit card from Superdigital. You don’t have to show proof of your income or good standing with the SPC or Serasa. Just make a virtual card in the Cards > Virtual Card section of your Superdigital app and load it with the exact amount you want to spend on products or services.

Will bank - logo

Will Bank (Meu pag!)

  • Easy to open online
  • Credit card
  • International card
    Virtual cards
  • Pix transfers

Will Bank’s name used to be Meu pag! But the two companies are now one company with one brand. Users who already have a Meu pag card won’t need to change it unless it’s expired. The only important thing is to update the old app.

Will Bank is a payments account and credit card with no extra features. It will work for people who don’t need much, especially millennials and Gen Z.

Benefits of best online banks in Brazil

Online banks have finally made it possible for people in Brazil who don’t have a bank account or don’t have enough money in their bank account to open one for free using only a smartphone. The economy is doing much better now that credit cards with no annual fees and much better interest rates than those offered by greedy traditional banks are available.

Best online banks in Brazil

There are, of course, other good things about it as well. Aside from the credit cards and fee-free accounts already mentioned, another big plus is how easy it is to open an account and how easy it is to use in general.

People can now send money right away to friends, family, or institutions. This is possible because of the revolutionary PIX, which brought Brazil into the 21st century. No more high fees and waiting for days to get the money.

All financial apps in Brazil also have some of the best security features, like fingerprint or two-factor authentication (2FA) logins and real-time alerts every time you use your app or card to spend money.

The budgeting and analytics features are also helpful because they show you exactly where your money is going and where you spend the most (rent, restaurants, take-out, car, etc.). You can set limits so you don’t spend more than you can afford and can save a few pesos.

Of course, digital banks in Brazil have more pros than cons, but let’s look at some of the cons.

Drawbacks of online banks in Brazil

Some digital banks have been around for more than 20 years and have served customers for that long, but others are very new and were started less than five years ago.

Compared to the rest of the world, and especially to neighboring Argentina, digital banks offer a good range of financial products and services, such as investing, loans, and even mortgages.

What you need depends on what kind of account you want. If you don’t need all the features a bank has to offer, choose a digital bank with fewer options.

One problem with mobile banks is that their customer service isn’t always as good, but you could say the same thing about traditional banks.

How safe is digital banking?

Most of the time, digital banks are on the cutting edge of safety and security. They care about the safety of their customers and give them the latest ways to keep their money safe.

Some people may be wary of digital banks because they are still new. This is especially true when it comes to safety. But in the past few years, digital banks have shown traditional banks the way, with many traditional banks quickly adopting the technology that challengers were the first to use.

The best online banks in Brazil and most popular have either full banking licenses or limited banking licenses that let them guarantee deposits up to a certain limit. The FGC (Fundo Garantidor de Créditos) will back up each creditor’s loans up to R$250 thousand.

How to get started with online banking

In Brazil, you have to live there, have a regular CPF status on the Receira Federal Brasileira, and be at least 18 years old to open a digital bank account.

A digital banking account is very easy to set up. Just get the app from the Google Play Store or the Apple App Store and fill in all the personal information it asks for. Most of the time, the account will be verified in a few minutes, a few hours, or a day.

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