As previously posted, there is a citibank branch in Sao Paulo allowing foreigners to open a bank account with only a CPF, passport and proof of residency although now they are even being quite leanient on the proof of residency. The manager for whatever reason is desperate for new accounts. If you by chance are needing to open an new account just PM me and I will send you the branch info. Last person I referred the branch manager even drove to her apartment at paulista to open the account for her. I am not kidding!!

It actually has 41 total branches in the municipality of Sao Paulo. Not of course as many as the other banks, but still a decent amount.

Well, if you think it sounds too good to be true why don't you go to the citibank branch and try for yourself!!

Uhh, yeah. Dealt too much with banks in the real world lately, so my mood is sarcastic for this Citibank pitch. I dumped that bank years ago in Brasil.

No, absolutely not. My last friend that opened an account there was told by the manager that the only requirement was to keep a minimum balance of R$300 at all times. That's it.