C6 Bank reduces fees for converting dollars and euros into global accounts

C6 Bank customers will now spend less to buy dollars and euros on the C6 Global Account, the bank’s international account. Fintech announced the reduction of so-called spread rates – which represent the difference between the purchase value of a foreign currency and the sale price.

In practice, this is the fee that the customer pays to financial institutions when making a remittance and exchanging the real for the dollar or euro, for example. Therefore, the lower the percentage charged, the lower the transaction costs.

From now on, the C6 conversion rate becomes flexible, varying from 0.9% to 0.75%, depending on the value of the shipment. The larger the purchase amount, the lower the transaction cost for the customer:

• 0.9%: shipments up to US$999.99 or €999.99;
• 0.85%: remittances of US$1,000 or €1,000 up to US$4,999.99 or €4,999.99;
• 0.75%: shipments from US$5,000 or €5,000.

Regardless of the exchange time, the rate will be the same. This allows consumers to carry out transactions at times that best suit their routine, without worrying about paying more.

Previously, the C6 system worked differently, as the spread was 2% for the dollar and 2.5% for the euro for transactions carried out during business hours. When operations occurred outside business hours, the conversion rate rose to 4% in relation to the two currencies.

With the change in rules, the bank issued a warning to customers: if the person uses the C6 Global Account and has a programmed exchange rate, it is necessary to make a new program with the update of the new spreads. Otherwise, the operation will take place at the old conversion rate.

How to open the C6 Global Account?

The C6 international account is available in the same application that the institution’s customers already use to carry out their daily banking transactions. The option offers an international debit card that allows you to make purchases in physical and virtual stores, as well as withdraw funds abroad at Chase and Cirrus cashiers.

It is worth noting that the account has no maintenance fee, adopts commercial exchange rates (cheaper than tourism) and charges Tax on Financial Operations (IOF) of 1.1% per transfer, lower than the 4.38% rate applied to purchases international credit cards.

To open the C6 Global Account, the customer must access the bank’s application, select the “All” icon and then go to “Global”, an option located next to “Brazil”. You must then choose between “Open dollar account” or “Open euro account” and click on “Contract”.

The next step is to personalize the international debit card, choosing the color and name printed on the plastic. Once this is done, the customer needs to read the contract carefully and select “Continue” to complete the procedure.