BTG Pactual Enhances Banking and Investment Services in the United States
Latin American investment bank, BTG Pactual (BPAC11), is extending its reach to North America, offering a range of US dollar accounts and banking services to its clients, as reported by The Fintech Times. This expansion marks a significant step in the bank’s strategy to provide comprehensive financial solutions to its customers.
Clients of BTG Pactual will now have access to a wide array of services, including instant currency exchange, debit card facilities, seamless transfers, and diverse investment options. Moreover, they can make withdrawals, payments, and transfers through both physical stores and online platforms, all while retaining the convenience of their Apple Pay and Google Pay digital wallets.
Marcelo Flora, the managing partner at BTG Pactual, expressed his satisfaction with this development, stating, «We are very pleased and satisfied in delivering a platform that meets the demand of the market and of our clients who intend to invest abroad or want to rely on a differentiated product in their overseas travels, with the quality and solidity of the largest investment bank in Latin America.»
One of the standout features of BTG Pactual’s International Investment Account is the access it provides to a variety of listed assets. These assets encompass shares, ETFs, ADRs (which allow investment in foreign companies’ shares), and REITs (similar to Brazilian real estate funds), enabling clients to construct diversified investment portfolios tailored to their preferences.
In the future, BTG Pactual plans to expand its product offerings further by introducing investment funds, fixed-income bonds, and additional services to cater to the evolving needs of its clientele.
Marcelo Flora added, «Everything is integrated into our banking and investment applications. This makes the client experience as simple as possible when opening and using their accounts. We already offer an investment account option in the United States, but more suited for larger tickets. Now, we are democratising access to the US market so that everyone can invest or do their banking in the USA.»
The bank’s app allows for the simultaneous opening of both local and international accounts. To be eligible, clients must have active BTG Investimentos and BTG Banking accounts in Brazil. The account opening process is cost-free, and clients who already invest with the bank may be exempt from monthly fees, as per the product’s rules.
Furthermore, BTG Pactual’s platform offers the convenience of asset custody transfer, allowing clients to move their assets from other financial institutions to their international investment accounts with BTG. Other benefits include access to research content and seamless integration with a tax calculation platform.
This move to offer international accounts underscores BTG Pactual’s commitment to its international expansion strategy. The bank recently received approval for its acquisition of FIS bank in Luxembourg, a move that will complement its existing operations in Portugal, Spain, and the United Kingdom.
BTG Pactual’s expansion into North America not only broadens its global footprint but also positions the bank to better serve the financial needs of its clients in an increasingly interconnected world. With a diverse range of services and investment opportunities, BTG Pactual is poised to become a go-to choice for individuals looking to navigate the complexities of international banking and investment.