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 in Reais: R$1.000,00
- IOF of 0,38%: R$3,80
- Available to conversion: R$996,20
- Current Dollar/Real rate: $5.16
- Dollar/Real rate with Facilita's 1% fee: $5.21
- Amount in Dollars sent to Passfolio: $191.21
- Passfolio takes 0.2%: $0.38
- Your account is then credited with: $190.83
Please keep in mind that this is an example and the numbers have been rounded for 2 decimals. Small differences may occur depending on the Dollar/Real rate.
- Name of beneficiary: Facilita Pagamentos S/A
- CNPJ: 10.789.035/0001-05
- Bank: Santander (033)
- Branch ID: 1142
- Account number: 13001384-4
- Beneficiary: Different beneficiary
- Purpose: Credit beneficiary's account
Deposit information is also available in the Deposit section of your Account menu. Just copy this information in your bank’s mobile app or desktop and finish the deposit!
Limits and minimums
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.
*Please see our Fractional Shares Disclosure
Time to reach your account
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 Pagamentos S/A uses a service called Broadcast to get its rates. Conversion to U.S. dollars is made once your deposit is received by Facilita Pagamentos S/A, which means that the conversion rate of your deposit will be confirmed after Facilita Pagamentos S/A receives your deposit and converts the money.
Problems with your deposit
Deposits must also be made from an individual account registered to your name and national ID number. If your deposit is not made from an individual bank account in your name, your money will be transferred back to your bank account within 3 business days with potential bank fees charged. For example, a deposit made from a joint bank account in you and your partners’ names will be returned.
Also, there may be problems with your deposit if you provide erroneous information when transferring, such as:
- Wrong Type of Account
- Wrong Branch ID
- Wrong Bank Account
- Wrong required identification number
Finally, always make sure the deposit information is correct so your money doesn’t get lost!
Please note: Deposits made in cash directly in the bank will not be accepted. It has to be made via TED. This way we will be able to identify and match your transaction with your Passfolio account.