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never trust any Brazilian financial institution, they are lazy, bureaucratic and profit driven. whenever I need something "odd" from those institutions I spend
by fmeyer 17y ago
never trust any Brazilian financial institution, they are lazy, bureaucratic and profit driven. whenever I need something "odd" from those institutions I spend about 4 or 5 days on phone calls and in-site meetings.
- kiba 17y agonever trust any Brazilian financial institution, they are lazy, bureaucratic and profit driven. Do you mean that they have perverse incentives?
- rglullis 17y agoThe Brazilian banking system is actually pretty good. That's not to say that some banks are bad. State-owned banks are usually like you describe, but private banks usually work very well. Bear in mind also that in Brazil financial institutions are the ones who invest the most on IT, by far. After two years living in the U.S and having banks charging you outrageous fees for the most idiotic reasons, or having transactions taking almost one week to be completed, I can confidently say the Brazilian system has is pretty much first-class.
- LaPingvino 17y agoIt's just quite annoying that the Brazilian banks are not in the IBAN system, and only some banks work internationally at all. There are a lot of regional banks you can't even use to pay in another region of the country...
- hussong 17y agoI was mildly surprised to learn that US banks don't participate in IBAN either.