Exchange

01

I just made an exchange, why can’t I trade?

02

How is the increase in exchange limit calculated?

03

My exchange is not working

04

How to execute an exchange order?

05

Exchange error

06

Exchange settlement

07

Exchange costs and availability

08

Increase exchange limit with Tax Report

09

Increase exchange limit without Tax Report (18K USD/year)

10

Understand your exchange limit

01

I just made an exchange, why can’t I trade?

In this case, check the exchange rate performed. Remember, the values are only available immediately if you choose the immediate exchange. If you have opted for the T+1 exchange (next day), the values available on the next business day.

You can confirm the type of exchange carried out in the Reports > Exchange Reports tab. In this case, check the time of the exchange carried out. The values are only available immediately if you choose the immediate exchange. If you have opted for the T+1 exchange (next day), the values available on the next business day.

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02

How is the increase in exchange limit calculated?

Calculation of $ USD exchange limit increase in your account is performed using your declared annual earnings (50% of them) plus net assets and rights (Shares, Savings, Gold, Fixed Income, Investment Funds, Other Funds in its last statement), divided by the dollar quotation of the day before the calculation. The deadline for replying to this assignment is up to 3 business days.

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03

My exchange is not working

The settlement date for stock trading is two (2) business days after the trade date. Withdrawals can only be requested after they are settled.

Ex .: Sale carried out on Monday (06/04(.
Net sale on Wednesday (08/04).

The exchange can be requested only on 08/04. Date the funds are available in the account.
If the exchange is requested on April 8, the following day (April 9), you can request a direct withdrawal in reais to your registered account.

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04

How to execute an exchange order?

By clicking on the “Exchange” tab you can convert from reais to dollars or vice-versa.

REMEMBER: to carry out currency conversion, it is necessary that the funds in account are liquidated.

Select the currency, choosing from the transfer times, detailed below:

Instant (available on weekdays between 9:00am 2:25pm, Brasilia time) – The amount will be immediately available for purchases in the American market on the Avenue account.

Next Day (T+1) – The amount will be available on the business day following the request (available on consecutive days as long as requested until 6:00pm, Brasília time).
Fill in the gross amount for the transfer, check the amount referring to the IOF (0.38%), the net amount, and click on the “Make Exchange” button.
Ready! You just switched currencies. Incredible, isn’t it? When your balance is net in dollars you can already make your investments.
While in “Exchange”, you can also check your available limit. This is individual for each customer, according to the documentation delivered. Check how this limit works.

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05

Exchange error

Check the notification (bell) at the top of the screen.

The most common causes are: exchange limit unavailable, signature of pending contract, balance unavailable (values are not yet available for exchange – in settlement period).

If the notification is not clear, contact us and we will help you via chat or telephone.

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06

Exchange settlement

Before sending an exchange order it is necessary that the resources to be moved are liquidated.

The settlement of a sale takes place in T+2 (two days later). So, if you sell a stock today, you can only request the exchange/redemption two days later. In the case of US > BR exchange, the delivery of values is in T+1 (business day following the request).

In the case of the BR > US exchange rate, it is necessary first to make the TED in Reais, in order to request the exchange.

That can be immediate (request until 2:25pm Brasilia time), or for the next day, where the delivery of dollars is made in the morning of the next business day.

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07

Exchange costs and availability

There are two exchange options available:

1) Instantly – Your exchange will be immediately, usually within a few seconds, and available for transactions. Trading hours are 9:00am – 2:25pm following Brasilia time. Changes requested after the cut-off time, will be executed automatically as D+1.

2) Next business day – the exchange will be available on the next business day after the exchange request. Trading hours are 9:00am – 6:00pm following Brasilia time. The exchange rate on the return of funds to Brazil is available for the day following the request. To check the chosen exchange rate, go to the Reports tab > Exchange Orders.

The VET (Total Effective Value) is presented to the customer before the exchange order is executed. There is no exchange rate or fee. You pay the value of the Avenue exchange rate + IOF of 0.38%. The exchange is calculated based on the commercial dollar, plus a spread (which varies from 1.3 to 2.5%)

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08

Increase exchange limit with Tax Report

In this case, you must send the receipt of your last Tax Return Report plus the complete declaration document (all assets). Go to the exchange tab and click on “Reuqest Limit”, upload the documents and click on “Request Change”.

The calculation for the exchange limit, based on your documents, is made according to the amounts received in the last year (50% of net income) added up to your liquid assets (funds, savings, stocks and other assets with imediate liquidity).

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09

Increase exchange limit without Tax Report (18K USD/year)

To request an increase in your exchange limit, simply upload the requested documents. Go to the exchange tab and click on “Request Limit”, upload the documents and click on “Request Change”.

Currently, the limit increase process is being done on the same day. If there is any inconsistency in the documents a notification will be sent as well as an email.

In order to proceed with the increase limit request to $18,000.00, you need to send proof of address in your name, dated within 3 months and also an ID card or Driver’s License with maximum of 20 years since date of issue. We will not accept proof of address on behalf of third parties (except on behalf of your spouse or on behalf of your parents if you are single).

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10

Understand your exchange limit

Accounts that are opened with automatic registration validation without the need of showing documents (RG/CNH and Proof of Residency) will have an exchange limit of US$ 3,000/year;

In the other hand, accounts that need to show documents in order to proceed with the account opening, will have an exchange limit of up to US$ 18,000/year. Documents: ID card or Driver’s License with maximum of 20 years since date of issue, proof of residence for the last 3 (three) months, in your name. We will not accept proof of residency on behalf of third parties (except on behalf of your spouse or on behalf of your parents if you are single).

For higher exchange limits, it will be necessary to send your last income tax return to us, so that the limit is adjusted according to your declared values plus the receipt of this declaration. In case of partial or total return of the capital sent abroad, the limit for new remittances is updated.

To calculate your exchange limit based on your Tax Report, the amounts received in the last year plus the total value of your net worth (shares, funds, savings and other liquid investment products) will be considered. For this reason, we suggest sending the complete declaration plus the delivery receipt, because when you send the complete declaration we are able to establish a limit based also on your investments.

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