When you deposit via TED, our payments partner, Facilita Pagamentos S/A, is the party responsible for receiving and converting your money. When they receive your deposit, they charge 0.38% of IOF (federal tax), then add their 1% fee to the current Dollar/Real rate and convert your money to dollars. Once your Reais have turned into Dollars, they send it to us. As soon as we receive it, we deduct our 0.2% fee and then credit your account.
Here's an example of how your money is converted:
Deposit information is also available in the Deposit section of your Account menu.
Just copy this information to your bank’s mobile app or desktop and finish the deposit.
You can start investing as little as US$1.* If you deposit more than US$3,000/year, we will require a Proof of Address. If you go over US$20,000, your Declaration of Tax will be required. We will send you an email with instructions on how to upload these documents in order to move forward with your deposit.
*Please see our Fractional Shares Disclosure
The estimated time for the money to reach your account is between 1-2 business days.
There is no holding period for funds deposited by TED.
Facilita FX uses a service called Broadcast to get its rates. Conversion to U.S. dollars is made once your deposit is received by Facilita, which means that the conversion rate of your deposit will be confirmed after Facilita FX receives your deposit and converts the money.
Please note: Deposits made in cash directly in the bank will not be accepted. It has to be made via TED from an account registered under the same CPF as the one registered at Passfolio Financial. This way we will be able to identify and match your transaction with your Passfolio account.
*Passfolio is the brand name of Panchain, Inc. Passfolio Securities LLC and Passfolio Financial LLC are fully-owned subsidiaries of Panchain, Inc. Securities and cryptocurrencies are very different types of assets. Cryptocurrencies are not securities. Purchasing cryptocurrencies comes with a number of risks. Please read Passfolio Financial Cryptocurrency Risk Disclosure. Currency and cryptocurrency exchange services provided by Passfolio Financial LLC (“Passfolio Crypto”), a US Money Services Business registered with FinCEN. Passfolio Financial LLC is not a broker dealer. Cryptocurrencies are not protected by either FDIC or SIPC. Securities products and services offered to self-directed investors through Passfolio Securities LLC Member FINRA / SIPC. Passfolio Securities, LLC does not provide cryptocurrency-related services. Passfolio Securities LLC is a member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org. To purchase securities using cryptocurrencies, you must first convert it into U.S. Dollars using Passfolio Financial LLC. You must then move the U.S. Dollar proceeds to your brokerage account at Passfolio Securities LLC where you can use it to buy securities.