Money Money Money


Its the key ingredient for any "session" or "garota" in Rio from what I have read. My question is whats the best way to manage your cash flow while visiting? Should I bring USD cash and get it converted at the hotel? And if I decide to just use a credit card at the termas do they charge in USD? Any money management suggestions for a Rio visit would be greatly appriciated.



(Message edited by j43143 on December 04, 2004)

2nd Question:

I cut and pasted this from a website that handles VISA processing for entry into Brazil. Where it states "signed and vaild for 6 months from the date of application" does that mean that your US passport must be 6 months old before you can even apply for a visa?




BRAZIL

IMPORTANT PASSPORT AND VISA INFORMATION


WASHINGTON, DC EMBASSY


REQUIRED FOR U.S. CITIZENS: PASSPORT (signed and valid for 6 months from date of application); VISA.


TOURIST VISA REQUIREMENTS: Passport, 1 DC application, 1 photo, and a copy of itinerary. SEE CONSULAR PROCESSING FEE SCHEDULE BELOW.


BUSINESS VISA REQUIREMENTS (TEMPORARIO II) REQUIREMENTS: Passport, 1 DC application, 1 photo (original, no reproductions are acceptable by the Embassy), and company letter detailing exact nature of trip (The purpose normally explained, as "business discussions" may not be accepted. It is advisable to give as much detail on the discussions as possible), guaranteeing all expenses and moral conduct, and stating contact's name, address, and phone number in Brazil. Additionally, also required with business visa applications is a proof of residence - a copy of a driver's license is the only item the Embassy will accept as proof of residence. SEE CONSULAR PROCESING FEE SCHEDULE BELOW.

You can bring cash but only a maximum of about $3,000 (R$10,000). You can change at cambios (hotels won't give as good a rate). Best bet is to bring an ATM card and just get what you need on a daily basis. Termas will charge a premium for using a credit card but accept them;

RE: the passport question; It must have at least 6 months validity remaining before expiration.

A lot of your questions can be answered more clearly in Bwana Diks guide to Rio. Recommended reading for a first timer!

Tchau

I recently moved to Brazil. Before I came down, I got a Citibank checking account so that I could pull money from Citibank in Rio and Belo Horizonte without transaction fees. Before I got the Citibank account, I was charged about US$4-$5 per transaction and had a daily withdrawal limit of US$300 (R810). With a Citibank account, the limit is US$1,000 (R2,700). Citibank always uses the current exchange rate, whereas Banco do Brasil and the cambios take a cut -- at least 5%, sometimes more. The hotels are even worse.

Even with the ATM fees, the Citibank ATMs in Copa and Ipanema are the best ways to get reals.

If you use your credit card, the card's issuing bank will automatically perform the currency transaction. Like the Citibank ATMs, they use the current exchange rate without taking a cut. On my credit card statement, the exchange rate is printed in parentheses next to the description of the transaction. For example, my July mastercard statement shows several transactions at Hugo's Bar in Rio de Janeiro, each for 216.60 in reals, at .3312 reals per dollar, converted to US$71.74. (FYI, Hugo's = Luomo)

Unless you're a high roller, you should be able to manage your trip nicely with a non-Citibank ATM card and a credit card. If you find you're spending too much money, come visit Belo Horizonte and I'll show you the R7 brothels.

(Message edited by achilles on December 05, 2004)

(Message edited by achilles on December 05, 2004)

Best place to exchange UD$ right now is help, I just got back and have been getting $2.95 exchange. This is awesome in comparison to the Jeweller across from Bobby's that exchanges at 2.65 or Blockbuster and HSBC that were exchanging at 2.73-2.75 (Nov 17-30/04).

Termas charge your credit card in BR$ and the exchange rate will depend on what your credit card exchanges at. Also keep in mind that most termas with the exception of 4X4 will not allow you to charge the girl to your card.

Your passport does need to have at least 6 months validity left on it from your date of entry. I would suggest that you renew your passport if it has less than a year or two left on it since your Brazil visa is valid for 5 yrs and god knows i've already used mine 10 times in two years! LOL

Damn, that's a terrific rate at Help. How much will they change for you? Mebbe I'll head over with a couple thousand $$$...

When I asked, Luomo let me use a credit card for the girl, but they charged me a little extra for it (R10 or R20, I forget).

(Message edited by achilles on December 05, 2004)

Rate today at Citibank was $2.70 "Ouch". - Hemp

It's been a year or so since I've changed money at Help - these days, I only carry about US$100 on me when I go to Brasil and that's primarily for taxis to and from my house and the airport and as a very small emergency stash. However, I seem to remember that Help only exchanges money when you are buying an admission, and that there is some limit to the amount that can be exchanged.

Obviously they're losing money on the exchange right now, so it's a loss leader to get guys to go in. Does anyone know what the limit is? The couple of times I did it last year, I just exchanged a hundred, which paid for admission plus reals back.

Slight correction: you can bring more than R$10,000 (Approximately $3000 US) cash into Brazil, but you should declare the amount on the customs form you are given on the plane.

Then, when you hand that document to the customs "gatekeeper" after collecting your luggage, let them know you have cash ("Tenho dinheiro.")

They'll look at your customs form to confirm you've checked the box saying you have more than R$10,000 and then (in Rio at least), you and your luggage will go with a customs official to a small room nearby and you will physically count out the money in front of them. They'll fill out a form and give you a copy. You'll also sign your name.

Keep your copy of the form, as I think it will probably be useful if you leave the country with more than R$10,000 and are stopped for inspection (pretty rare, actually).

I presume the controls are in place to discourage money laundering, and would expect the penalty for failure to disclose might be confiscation of the money. Ouch.

Be aware it is not such a hot idea to bring a lot of cash to Brazil unless you have no choice. It is not beyond the realm of possibility that someone in the customs area could tip off a robber that you're holding...

I thought the no-fee withdrawals with a Citibank ATM were a good deal. Until one day I withdrew cash with my Citibank ATM and with another maior US bank Atm at the same time.

The other bank's exchange rate is consistently 2-5 cents better. 3 cents times 330 dollars is 9.90 R$ per withdrawal. Exactly the $ 3 atm fee my bank charges me!!! So Citibank pretends to not charge a fee from its own account holders. But in reality they rip them off with the exchange rate. Pretty clever

Help looks pretty good to me. I understand I have to buy a ticket to get the good rate!?? and can change only 100 $ at entrance and $ 100 inside??


(Message edited by BrazilSpecialis on December 06, 2004)

True; the limit is $100, and you must be purchasing a ticket.

I exchange at help frequently without going in..usually only do $300 at a time...remember they are laundering it for a good reason so the rate is of no consequence to them...

Don't forget about the gauntlet that you have to walk on your way to get a cab when leaving Help.

You guy's do take a cab RIGHT?

I plan to travel to Brasil the second week of Feb. 2005. My passport expires in Sept. 2005. I believe I'm within the 6 month limit, but my question is when I renew my passport, must I get a new 5 year visa or can I carry over what is left on current visa?

You can go to Brazil in Feb. with a passport that expires the following Sept., no problem. However, if you try to return anytime after July 1, they might not allow you in, because your maximum stay of 90 days would end after your passport has expired.

When you get a new passport I think you'll need a new visa, so the best thing to do is to get the visa as soon as you can after you get the passport and get your ass to Brazil right away. That way you can maximize the use of your BR visas by trying to keep their start/end dates as similar to your passport's dates as possible. You can ty to see if the US PAssport Agency will take the BR visa page from your expiring passport and put it into your new passport, but I have not heard of anyone getting this done.

In the Philippines I had a work visa in an old passport that had 1 year left on it and used both passports when re-entering the Philippines and they accepted it. Should work like that in other countries too. It would have been a real pain to go through the re-issue process again it took me 7 months of extensions and stuff to get the original work visa.

The exchange rate at Help is not a miracle.

Normally, there is a "spread". A cambio will buy your dollars for, say, R$ 2.75 to the dollar, and sell it to someone else for, say, 2.90 to the dollar. Most likely, Help's exchange rate will be well within this margin. So, as long as they have someone who actually wants to BUY and keep dollars, they are not really making a loss.

You do not need a new visa when your passport expires. You just carry both passports around. I have been doing this for years.

actually, there are various exchange rates.

There is the "offical" "commercial" exchange rate. Then are tourism and black market rate. I just noticed in the newspaper exchange rate listing (yes, the black market rate is listed in the newspaper) that they are moving apart again. Something like official rate is 2.71, black is 2.90/3.00, a few days ago.

Historically, until a few years ago, the black market exchange rate was vastly superior to the exchange rate for banks/atm machines. Before the Real currency, it was typically 30% better and occasionally 200% better, so cash was the best bet.

Maybe you guys can give some exchange rates for cash and for atm machines. Anyone tried to change at the same day??

I can get you 2-5 cents better exchange rate at the cambio in front of my apartment, at the travel agency in Sá Ferreira in front of Spaccio restaurant. Normally, this would be the tour guide commission, but they can revert it to the customer, instead. This is a bit of a problem, as this higher exchange rate has to be hidden from the other customers, so if you do this, you need to do it very discreetly.

A visa in an expired passport is still valid for entry into Brazil. Carry both your current and expired passport and you'll be fine.

You need two things: a valid visa, and a valid passport. The two do not have be in the same cover.