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:
Name of beneficiary: Facilita Pagamentos S/A
Bank: Santander (033)
Branch ID: 1142
Account number: 13001384-4
Beneficiary: Other beneficiary
Purpose: Credit to checking account
Deposit information is also available in the Deposit section of your app on the your Account menu. Just copy this information in 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 then go over US$20,000, your tax declaration 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.
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.