Dollar accounts and IOF, explained for Brazilians

Moving dollars internationally to Brazil involves three layers every time: the payment rail that carries the transfer (SWIFT, ACH or stablecoin), the FX spread charged on conversion, and IOF — Brazil's federal tax on foreign-exchange operations. Most people focus on the exchange rate, but the rail determines the tax and the spread. A traditional SWIFT Wire can carry 3.5% IOF plus a 3–6% spread; an ACH into a US account is often free and avoids the SWIFT chain entirely; stablecoin settlement settles in seconds with 0% IOF. This cluster of guides breaks down each piece.

How dollars arrive shapes both what you pay and how long you wait. A SWIFT transfer passes through one or more correspondent banks, takes one to five business days, and can trigger up to 3.5% IOF on outbound remittances from Brazil. An ACH transfer stays inside the US banking system, is typically free, and is the standard way US employers, clients and marketplaces pay. Stablecoin rails settle in seconds with 0% IOF under current rules. For side-by-side comparisons: ACH vs SWIFT and stablecoin vs SWIFT.

Once dollars arrive, converting to reais involves two costs that are often buried in the rate you are offered. IOF is a federal tax — up to 3.5% on traditional foreign-exchange operations, 0% on stablecoin-settled accounts. The FX spread is the margin between the commercial rate (the one on Google) and the rate you actually get — from under 1% on competitive platforms to 5–6% at airport desks. Together they often cost more than the explicit transfer fee. See also how exchange rates work for the rate mechanics.

The right dollar account depends on what you need to do with the money. If you mainly receive and convert, look at the IOF on the inbound transfer and the conversion spread. If you plan to hold dollars and spend abroad, an international card with 0% IOF on purchases matters more. If you send money to clients or suppliers, check whether the account supports ACH, Wire and crypto sends. A general rule: the more directions you need to move money, the more it pays to use a complete account rather than a single-purpose receive-and-convert service.

Before opening any international account, ask: what is the IOF on each direction of transfer? What is the FX spread on conversion — is it shown explicitly or baked into the rate? Are there monthly fees, minimum balances or transfer fees? Can you hold dollars freely without being forced to convert? Is there an international card, and does it carry IOF on purchases? The answers vary widely between platforms. Reading the fee schedules of Wise, Nomad and Ruvo side by side is the fastest way to see where the real costs sit.