ATM Fees in Brazil: Bradesco Is Free If You Press the Right Button

Last updated on 12 September 2026

Brazil holds the most dangerous conversion trap in our entire dataset. At Bradesco the withdrawal itself costs nothing — but accept the conversion the machine offers and our data records a surcharge of up to 16 percent. On top of that sits something no bank and no machine can avoid: a government tax on every transaction made with a foreign card.

The machines at a glance

As of 12 September 2026. ✓✓ = confirmed by two independent sources: that Bradesco charges foreign cards no ATM fee and allows the highest withdrawal amounts was independently confirmed on 12 September 2026. The remaining figures come from the POVNOMAD fee dataset (ATM Fee Saver, as of 1 September 2026). Sources disagree on Banco24Horas: our dataset says R$40, an independent source says R$20.

The recommendation is unusually clear-cut: Bradesco. No fee, the highest limits, dense coverage in every city. Everything else is worse, and two large banks do not accept foreign cards at all.

The 16 percent trap

The greatest risk sits at Bradesco too. Our dataset carries an explicit note for this bank: a surcharge of 16 percent applies if you fail to decline the offered currency conversion. Travellers report similar orders of magnitude in forums, where figures around 9.5 percent come up.

The exact number cannot be pinned down; the magnitude can. It is by far the highest conversion surcharge we have encountered across this series. For comparison, the Czech Republic and Mexico sit at 5 to 8 percent.

On Bradesco machines the button reads “Cancel Conversion” or “Cancelar conversão”. That is the one to press. Confirm instead and, on a R$2,000 withdrawal, you pay somewhere between R$190 and R$320 too much — at a machine that is otherwise free.

Why that button matters everywhere, and what it is called on different screens, is covered in With or without conversion? — the ATM screens are reproduced there.

The IOF tax: unavoidable but plannable

Brazil levies a federal tax on every transaction made with a foreign card, the Imposto sobre Operações Financeiras (IOF). It is set centrally and does not depend on the bank or the machine:

As of 12 September 2026, per independent travel guides. The IOF is levied by the Brazilian state and cannot be avoided by choosing a different bank.

Two things follow. First: use the debit card, not the credit card. The gap between 1.1 and 3.5 percent is larger than any ATM fee in Brazil. Second: fewer, larger withdrawals. The IOF is a percentage and so indifferent to the number of transactions, but the limits are low and every extra withdrawal is another chance to accidentally accept the conversion.

So a R$2,000 debit withdrawal at a Bradesco machine costs roughly R$22 in IOF and nothing in ATM fees — as long as you decline the conversion.

Two banks that will not take your card

According to our data, Banco BV and BTG Pactual do not accept foreign cards at all. This is not a fault of the machine or a problem with your bank; these institutions are simply not connected to the international networks.

So a declined withdrawal in Brazil is not necessarily a card problem. Try again at a Bradesco machine before calling your bank. Itaú, too, accepts only certain foreign cards.

The limits are low

Between R$1,000 and R$2,500 per withdrawal, roughly €170 to €420. Bradesco leads at up to R$2,500, which is another reason it is the first choice.

One practical note: many Brazilian ATMs shut down overnight or dispense only small amounts after 10pm. This is a security measure and applies to foreign cards too. Plan withdrawals for daytime, ideally inside a shopping centre or a bank branch.

Pix is everywhere, but not for you

Brazil is well advanced on cashless payment — the national instant payment system Pix is accepted from beach stalls to taxis. For visitors it is largely unusable, because it requires a Brazilian bank account or a CPF tax number.

Card payment, by contrast, works smoothly in restaurants, supermarkets, hotels and larger shops, usually contactless as well. Cash is for beach vendors, small markets, tips and taxis outside the apps.

What your own bank adds

The ATM fee and the IOF apply whoever issued your card. On top of that, most banks add a foreign transaction fee, commonly around 1 to 3 percent, and some add a flat charge per withdrawal.

In Brazil that stacks into three items: IOF at 1.1 percent, your bank’s fee, and possibly the ATM fee. At Bradesco with a card that has no foreign transaction fee, only the IOF remains — that is the achievable minimum.

We deliberately name no individual issuer’s terms here; they change often, and only your bank can confirm them.

Why you want a signal at the machine

Many banks now require approval through a push notification in their app for withdrawals abroad; with no data connection the card is declined. In Brazil there is the added need to work out whether a refusal is your card or the bank, and to find the nearest Bradesco machine.

A Brazil eSIM from POVNOMAD starts at €1.00. Install it at home by QR code; validity starts when it first connects in Brazil. Unlimited plans include tethering at no extra cost up to the daily allowance, after which the connection continues at 1 Mbit/s.

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