Originally posted by hpeak13 hmm, my wife is worried about the safety of withdrawing large sums of $$$ in BH. I would like to have some cash in local currency, but am aware that the dollar is getting stronger....hmm???

Man, safety is alright. There is a limit to how much you can withdrawl at once, I believe it is $500, and there is a special ATM for this kind of transaction (int'l withdrawls). The proper ATMs are usually located in good areas and I have used them even at night. No problems!

To get the maximum of R$1000 from an ATM in Brazil the daily cash withdrawal limit on your card has to be set up near US$600 with your bank back in the states (that is if you are an norte-americano) which usually isn't the case. You can change this limit with a phone call or via your internet banking site.
Best Luck!!!

Hi Friends,

Let me add my two bits about cambio.

What has been stated, to my knowledge, is true, but the danger, while possible, is not likely.   People all over Brazil regularly withdraw from ATM's, and it is reasonable to thank that only about 0.001% or less suffer from these attacks, and fewer still from these kidnappings. 0.001% is one in 100,000, and given that millions of Brasilians regularly withdraw at ATMs, it must be far fewer, although no studies have been done to let us know the real statistics. If you change at the ATMs on the street you obviously have more risk than in a shopping center, but if you simply pay attention, it is extremely unlikely you will have a problem, especially in Belo Horizonte.

The other issue, if you are using an American credit card, you will get the lowest exchange rate, and also be charged 3% for a foreign exchange fee. While it is convenient, if you are changing U$2000 a month, which is not too unusual, you are paying U$60 in fees.

If you are changing a little, ATMS here are OK, because you only loose a little.   

The exchange houses in shopping centers exhange at a very low rate, and I never consider using them. There are a few exchange houses, but one should never post there name and number on the Internet!

If you change $2000 a month, this is $24,000 a year, and $720 in 3% credit card fees. In addition, the parallel market (other than the lousy shopping center exchange houses) typically pays at least 2% higher, and usually 5% or more, but let's take 2% to be conservative. This totals 5%, and 5% of say U$10,000 is $500, of $30,000 is $1,500.

This says to me that if you can have dollars here, instead of using credit cards, you are much better off.

In years of traveling internationally, I have never been body searched, and I don't feel it is so dangerous to travel with dollars. Crime happens everywhere, but statistics show we don't need to live in fear!

I hope some of you can find these insights useful.

Cheers, Douglas

Hey I didn't mean to say you were going to get kidnapped ... just food for thought for the paranoid minded!

I think my situation may be sort of unique in that I won't have any bills, or a job for that matter. I will be living with my wife and mother in-law. Aside from groceries and going out thats all we will need $$$ wise. so it sounds like i may just take a bit out at a time