Brazil’s digital economy is booming, and entrepreneurs are breaking past local borders and tapping into global markets.

But while the internet makes it easy to work with clients and customers from anywhere, the old-school problem of how to get paid efficiently still gets in the way.

Traditional banks often have high FX fees and require complex paperwork for international transactions. Virtual bank accounts, on the other hand, give Brazilian online entrepreneurs a faster, cheaper, and better way to manage cross-border payments.

The reality of cross-border business in Brazil

The e-commerce market is loud, lively, and full of opportunity.

A European client wants to pay in euros. A US marketplace settles in dollars. Your local bank promises an international transfer “in a few days,” then clips a fee and converts at a rate that’s unfavourable. Some global payout platforms don’t even settle directly to Brazilian accounts, and the ones that do may hold or reject transfers for extra checks.

In practice, here’s what it looks like:

• Currencies that don’t match: Clients prefer USD, EUR, or GBP, while you only have a BRL account. Someone has to convert, and it’s usually you.
• Slow processing: International transfers can take days, with little visibility into where funds are sitting.
• Terrible fees: Wire charges, intermediary bank fees, and unfriendly FX rates quietly reduce every payout.
• Limited platform support: Certain services won’t pay out to Brazil, or only do so with extra caution.

All of this is friction. In business, this friction translates into lost time, thinner margins, and awkward emails.

Also read: Why KYC is required to use global accounts (and how to do it easily)

What is a virtual bank account?

A virtual bank account lets you receive and hold money in foreign currencies as if you had a physical bank account in that country, but without needing to travel or open an account overseas.

With Grey, for example, a Brazilian business owner can open foreign-currency accounts in USD, EUR, or GBP and get proper bank details like a US routing/account number, a European IBAN, or a UK sort code/account number, even a SWIFT/BIC for international transfers. Your client pays you by regular bank transfer from their side; the funds land in your foreign-currency balance in Grey.

From there, you can hold the money in that currency or convert to BRL when the rate makes sense for you. There are no surprise conversions and no forced timing.

Why do Brazilian online entrepreneurs use virtual bank accounts?

Here are some of the most common advantages of a virtual bank account for Brazilian entrepreneurs.

• Get paid like a local: US, EU, or UK clients can send domestic transfers to you. It is often faster and simpler than traditional international wires.
• Protect your earnings from FX swings: You can hold USD/EUR/GBP and convert to BRL when the rate is in your favour.
• Look professional and get paid faster: You can generate invoices with local bank details, which finance teams tend to process more smoothly.
• Keep business money tidy: It helps separate multi-currency income from your personal banking, and export clean statements for bookkeeping.
• Integrate with global platforms: If you sell on marketplaces like Amazon, Etsy, or Shopify, or receive payouts from PayPal, Stripe, or Upwork, virtual accounts make withdrawals seamless, often without the extra intermediary fees.
• Get paid faster: No more waiting 5–10 business days for international wires to clear. Virtual accounts often process payments in 1–2 days, and sometimes, same-day.
• Expand your client base: Many overseas clients prefer paying into a local currency account. Offering them a US or European account removes hesitation and can help you close more deals.

What a virtual account is not

People sometimes don’t have a clear understanding of what a virtual account is. Here are a few common misconceptions:

• Not a loophole: You still complete standard KYC/KYB checks and comply with local regulations and taxes.
• Not a card or wallet: It’s a bank account with real account details. You can add a virtual card for spending if you need one, but that’s usually a separate feature.
• Not one-size-fits-all: Available rails and speeds vary by currency and region. Final fees and timing depend on the sender’s bank and route.

In short, a virtual bank account gives you the credibility and convenience of being “local” in multiple markets, while letting you decide when and how to convert and use your money.

Also read: How to get an instant USD debit card in Brazil

The challenges of relying only on Brazilian banks

Brazilian banks have made great strides in modernising their services, but they’re still not fully equipped for the global stage when running a business or freelancing across borders. These gaps can quickly become roadblocks for digital nomads, online entrepreneurs, and remote workers.

Here’s what you’re up against:

• Sluggish international transfers: Receiving an inbound wire can take days, and that’s before you factor in the delays caused by intermediary banks.
• Forced currency conversion: In most cases, any incoming payment in USD, EUR, or other foreign currencies is automatically converted into Brazilian reais (BRL), often at unfavourable rates that eat into your earnings.
• High fees at every step: Between SWIFT charges, intermediary bank deductions, and your bank’s handling fees, a significant part of your payment can disappear before it even hits your account.

Relying solely on a traditional local bank can limit your global potential. It can slow down payments, reduce how much you receive, and limit the currencies you can work with. For someone operating in the global economy, those are lost opportunities.

Also read: How freelancers in Brazil can receive payments from the US, UK & EU clients

How does Grey make it simple for Brazilian entrepreneurs?

Grey allows Brazilian online business owners to operate like a truly international company without leaving home.

Open real multi-currency accounts (USD, EUR, GBP)

Create foreign accounts from Brazil so clients in the U.S., UK, and EU can pay you directly using familiar bank details.

Get paid smoothly from clients and platforms

Share your account details on invoices or payment forms and receive transfers straight into your Grey account. Funds land in the currency you billed, ready to use.

Hold and convert on your terms

Keep balances in USD/EUR/GBP and convert to BRL only when necessary. Before you confirm, you’ll see the live rate and a clear fee breakdown, so there are no mystery deductions.

Pay for tools with a virtual USD card

Generate a virtual dollar card for subscriptions and business spending, such as design apps, cloud storage, ad platforms, domains, and other SaaS essentials, without worrying if your local card will be declined.

Pay partners abroad easily

Send money to contractors and suppliers in supported countries with transparent fees and estimated delivery times shown upfront.

Invoice like a pro

Create clean, branded invoices that include your foreign account details. Track when an invoice is sent, viewed, and paid so cash flow is no longer guesswork.

Built for growth and compliance

Grey uses verification and fraud-prevention checks to keep your accounts secure while you scale across borders.

Also read: The ultimate guide to using virtual accounts for global payments in 2025

Brazilian entrepreneurs are already proving they can compete globally, but competing is easier when your banking keeps up. Virtual bank accounts are now the foundation for smooth payments, better profit margins, and long-term growth.

Grey is the smart place to start if you’re ready to scale beyond Brazil without letting banking slow you down. Create your free Grey account today or download the app to make your creator journey easier, smarter, and borderless.

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