November has come, school holidays and corporate break times are near and it’s time to plan year-end trips. Those who are leaving Brazil should already have booked travel packages, tickets, hotels, park tickets … but it is worthwhile to plan the purchase of the money that you will use in the country you will be visiting.

Basic care can help you save a few hundred dollars and avoid inconvenience. First, estimate how much you will spend on the trip and how much you will take in kind, and then schedule currency purchases over the next few months. One idea is to split the purchases to marry the pay of the salary, down payment, 13th and bonuses, for example. So you thin the expenses and reduce the card bill on the return of the vacation.

With programming in mind, it’s easier to enjoy the days when the prices are more favorable to shopping. And it is worth doing a search among the financial institutions authorized to sell and buy foreign currency. The Central Bank of Brazil (BC) updates an online list of those who offer the best total cost of ownership, called VET, which is the best quotation considering the fees charged by the institution.

A survey among the VETs of September showed that between the first and last place in the ranking, the difference of rates came close to 8%. Think about how much it weighs in your pocket if you buy $ 5,000.

Brokers and exchange banks are among those offering the lowest rates. But there is a consumer stigma for confusing these institutions with doleiros. There is a big difference between them. Doleiros are illegal. But brokerages, like banks, only operate with the authorization of the Central Bank, which monitors, regulates and requires a series of procedures to prevent money laundering and currency evasion. Exchange correspondents are also legitimate institutions that require authorization from the CB and are under the supervision of banks and brokerage firms.

“Research is critical because rates vary widely,” said Kelly Massaro, director of Institutional Relations at the Brazilian Association of Foreign Exchange Brokers (Abracam). “It is also imperative to be careful with the institution where you will buy currency. This needs to be done in an authorized brokerage or bank, to avoid wear and tear, such as those caused by counterfeit notes found in the parallel market, “he adds.

A list of brokers and exchange banks associated with ABRACAM is available on the association’s website. Kelly recommends that the tourist always carry the exchange contract – that proof of the purchase of the international currency – in case it is demanded by the inspection at airports, and not make purchases for third parties.

These institutions also offer some consumer amenities such as home delivery, debit card payment, and the ordering of exotic currency calls, which are more unusual such as the Australian or Canadian dollar, Mexican peso, yen, yuan or South African rand. They are strategies to be able to compete with the bigger rivals and that end up benefiting the consumer.

It pays to take some money from your first destination in your pocket, at least to pay for the first expenses like transport to the hotel or a meal when you disembark.

To find a financial institution closer to us, Abracam offers a free application called UNICAM that has a geolocation device that lists brokers, banks and exchange correspondents throughout Brazil. All authorized to operate.