Revolut, a global financial app with over 35 million customers around the world, identified that 61% of Brazilians who travel abroad still use cash and buy foreign currency in exchange brokers. The information is part of a study developed by the company to understand the behaviors of Brazilian travelers when it comes to financial products for international travel.  

In the survey, 58% of respondents said that they intend to travel abroad in the next 12 months and guarantee that they start planning 4 months to one year in advance. Financial planning,  one of the most important topics of any international trip is one of the things that most concern  Brazilians - 60% of them would like to have more control over their money during the trip and  46% want to have more visibility of their expenses which end up, sometimes, going to the traditional credit card.  

Glauber Mota, Revolut's CEO in Brazil, explains that global accounts are an interesting alternative for people who are looking for more safety and control in trips, but also a way to protect themselves from currency fluctuations. "When you go to exchange brokers to get different currencies, you end up paying more for every dollar, for example, because these brokers use the tourist rates and not commercial rates. Also, by taking cash on your trip, you have less security, because you can lose your money or it can get stolen. With Revolut's global account, you can exchange money 24/7, save different currencies on our app while you prepare for your next trip abroad, configure alerts so you can know when to buy currencies at a lower price and also keep track of your spending, and expenses in real-tim during your trip. If you  run out of money, you can instantaneously send a PIX to your account and get it ready to  exchange again", Glauber says.  

The study also shows that, in case of emergency, 66% of Brazilian tourists use their credit card.  For Luiz Henrique Didier JR., CEO from Bexs, a cross-border payments and currency exchange bank, which had its acquisition from Ebury recently approved by the Brazilian Central  Bank, the use of the traditional credit card during a trip can get in the way of more control during the travel. "The amount spent on cards abroad have IOF rates, usually above 5%, and also spread fees, which can be up to 6%, which are both added to the original cost of the purchase.