Banco do Brasil is the oldest bank in the country and one of the largest financial institutions in Latin America. Founded in 1808, shortly after the Portuguese royal family arrived in Brazil, it has followed the country's history for more than two centuries. Today, it is controlled by the Brazilian federal government and also has shares traded on the stock exchange. It serves individuals, small and large companies, public institutions and, notably, the agricultural sector. This guide explains its main services and what to consider before choosing a product.
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A brief history
Banco do Brasil was created in 1808 by Prince Regent Dom João to help finance the Portuguese court that had moved to Rio de Janeiro. Over the centuries, it went through closures, reorganizations and expansions, becoming a key part of Brazil's financial system. For a long time, it also performed functions that today belong to the Central Bank of Brazil, which was created in 1964. Today, Banco do Brasil operates as a commercial bank with a national network of branches and strong digital channels.
Accounts
Checking accounts
Checking accounts are used for everyday transactions: receiving salaries, paying bills, making transfers and using debit cards. Banco do Brasil offers service packages that vary in price and in the number of transactions included. Customers can also choose essential services that Brazilian regulations require banks to offer without monthly fees, with limited transactions.
Digital account
Customers can open an account through the BB app, sending documents and a selfie for identity verification. Digital accounts are practical for people who rarely need to visit a branch.
Savings account (poupança)
The traditional Brazilian savings account remains popular for its simplicity and liquidity, although its return is often lower than other fixed-income options.
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Accounts for young people and students
The bank offers options designed for teenagers and university students, with simplified fees and features to help young people start managing their money.
Payments and transfers
- Pix: Brazil's instant payment system, created by the Central Bank and launched in 2020, available 24 hours a day in the BB app.
- TED and boletos: traditional transfers and bank slips are still widely used for bills and payments.
- Debit and prepaid cards: for daily purchases.
- Bill payment and automatic debit: to avoid late fees on utilities and other bills.
Credit cards
Banco do Brasil issues cards under the Ourocard brand, on networks such as Visa, Mastercard and Elo. The lineup ranges from basic cards with lower costs to premium cards with travel benefits, such as lounge access and insurance. Customers can request cards, check limits and pay bills through the app.
Loans and financing
Personal loans
Banco do Brasil offers personal loans with different conditions according to the customer's profile and relationship with the bank.
Payroll-deductible loans (crédito consignado)
These loans are deducted directly from salaries or pensions, which usually allows lower interest rates. They are available to eligible public servants, private-sector workers and retirees and pensioners of the national social security system (INSS), within legal limits.
Vehicle and real estate financing
The bank finances cars, motorcycles and homes, with terms and rates that depend on the type of credit and the customer's profile.
Student financing
Banco do Brasil is one of the financial agents of FIES, the federal government's student financing program for higher education in private institutions.
Agribusiness
Banco do Brasil is the main lender to Brazilian agriculture. It provides rural credit for planting and harvesting, financing for machinery and equipment, credit lines for family farming and support programs for producers of all sizes. This role makes the bank especially important in regions where agriculture drives the economy.
Investments
- Fixed income: CDBs (bank certificates of deposit), LCAs (agribusiness credit notes) and LCIs (real estate credit notes), among others.
- Tesouro Direto: Brazilian government bonds that individuals can buy through the bank.
- Investment funds: managed by the bank's asset management arm, with different risk levels.
- Stocks and other variable income: available through the bank's brokerage services.
- Pension plans: long-term savings products, such as PGBL and VGBL plans.
Before investing, it's important to understand the risks, liquidity, fees and taxation of each product.
Insurance
Through partner companies, Banco do Brasil offers life, home, auto, travel and other types of insurance. Customers should compare coverage and prices with other options on the market.
Services for companies
- Business checking accounts.
- Payment solutions, such as card machines and Pix collection.
- Working capital and investment credit lines.
- Payroll services.
- Support for foreign trade and exchange operations.
Digital channels
The BB app and online banking allow customers to check balances, pay bills, send Pix, invest, request cards, simulate loans and talk to support. The bank also keeps a large branch network throughout Brazil, including in small cities.
Safety tips for customers
- Download the app only from official app stores.
- Never share passwords, codes or card details by phone, message or email.
- Be suspicious of calls or messages asking for urgent transfers or "account verification."
- Turn on transaction alerts.
- Contact the bank only through official numbers listed on the website or on the back of your card.
How to choose the right products
- Compare service packages: choose the one that fits how often you use banking services.
- Check the total cost of loans: look at the CET (total effective cost), not just the interest rate.
- Evaluate investment options: consider risk, liquidity and fees.
- Read the terms: especially for cards, loans and insurance.
- Compare with other banks: competition helps you find better conditions.
Related reading:
- How to Get the Ourocard Credit Card from Banco do Brasil
- Bank of America: Origins, Purpose, and the Powerful Benefits
Frequently asked questions
When was Banco do Brasil founded?
In 1808, making it the oldest bank in Brazil.
Can I open a Banco do Brasil account online?
Yes, through the BB app, subject to the bank's requirements and identity verification.
Does Banco do Brasil offer Pix?
Yes. Pix is available through the BB app and other digital channels.
Is Banco do Brasil a public bank?
It is controlled by the Brazilian federal government and also has shares traded on the stock exchange.
What is crédito consignado?
A loan with payments deducted directly from salaries or pensions, usually with lower interest rates.
Does Banco do Brasil finance agriculture?
Yes. It is the main lender to Brazilian agriculture.
Conclusion
Banco do Brasil offers a complete range of services, from accounts and Pix to cards, loans, investments, insurance and strong support for agribusiness. Its long history and national presence make it a reference in Brazil's financial system. As with any bank, always compare fees, rates and conditions on official channels before choosing a product.
ACCESS THE BANK HERESource of information: www.bb.com.br
Brasil Acima de Tudo is not affiliated with Banco do Brasil. This article is for informational purposes only and is not financial advice. Check the official website for current terms and rates.