Banco Inter: the first digital bank in Brazil with a fee-free account

THE Inter Bank will complete 26 years of history on September 16, 2020. The Financial Intermedium CFI was founded in 1994 by the Menin family, owner of the MRV Engenharia group. From its inception until 2008, it was known as Intermediate.

From 2008 to 2017, as Intermedium Bank. And just 3 years ago it acquired the name that is still in force today. Headquartered in the city of Belo Horizonte (Av. Barbacena, 1219 – Santo Agostinho, Belo Horizonte – MG, 30190-924), it is duly recognized for being the 1st digital 100% bank in Brazil.

What is the code for Banco Inter?

Banco Inter's number and code for banking transactions is 077. This is important for those who are going to make transactions seeking to avoid paying fees.

Timeline

• 2007 – marked the reopening of real estate credit operations, with real estate refinancing being the main product in this portfolio.
• 2008 – was marked by the receipt of a patent letter from the Central Bank with authorization to operate as a multiple bank.
• 2014 – launched the Digital Account, one completely free checking account, which can be accessed by computers and cell phones and allows deposits, transfers, payment of bills, and even withdrawals at any Banco 24 Horas ATM, among other services.
• 2016 – as soon as resolution no. 4,480 of the Central Bank of Brazil came into effect, opening new digital accounts was made easier. In the same year, the bank recorded a net profit of R$25.5 million, with an expansion of R$10.31 billion in the credit portfolio to R$2.3 billion, of which R$52.51 billion corresponded to real estate credit. Fundraising increased by R$32.51 billion and totaled R$2.7 billion in December 2016. Also that year, the Bank ranked 14th in the GPTW (Best Companies to Work For) ranking in the 250 to 999 employees category in Minas Gerais.

Now it is Banco Inter

• June 8, 2017 – The bank renewed its brand. From Intermedium, it became Banco Inter. In the first half of 2017, Banco Inter had 184.7 thousand digital account holders, an increase of 804% compared to the first half of 2016, with the number of transactions carried out growing 29 times in the same period. Net income reached R$22.1 million in the period, an annual increase of 83.6%.
• April 30, 2018 – Banco Inter announces its IPO on B3, with its shares priced at R$ 18.50, having achieved R$ 721 million. In the first five days of its IPO, it cost R$ 21.50, but stabilized at R$ 18.95. The bank entered the stock exchange with a value of approximately R$ 1.9 billion, reaching R$ 8.5 billion in July 2019.
• July 2019 – In a secondary offering of shares, the bank raised R$1.3 billion. Of this, R$380 million went to preferred shareholders, and of the remainder, R$901 million went to SoftBank, which now holds R$101 million of the bank's capital. In August of the same year, Banco Inter updated its smartphone app with a new tool that allows customers to earn cashback when making purchases at various stores.  The financial institution also announced a partnership with insurance provider MetLife, which now offers dental plans on its Android and iOS app. The solution is 100% digital.

Negative Milestones in History

Data leak

In May 2018, the bank suffered a hack, which resulted in the leaking of account holders' data. There was also a leak and subsequent revocation of the encryption key. used by the bank to protect communication between the bank and its account holders. On July 31, 2018, the Personal Data Protection Commission of the Public Prosecutor's Office of the Federal District and Territories initiated legal proceedings against Banco Inter for collective moral damages. According to the Ministry, the investigations found that the data leak affected 19,961 of the bank's users. In December, the bank reached an agreement with the Public Ministry, paying 1.5 million reais.

Zero balance

On June 17, 2019, bank customers had their balances reset to zero during the morning. The bank stated that it was a display issue and, after temporarily blocking access to the accounts, corrected the problem the same day.

Banco Inter's Main Products

INDIVIDUAL

Banco Inter's Digital Account is the only 100% digital, complete and free checking account in Brazil. With it, you can make all transactions through the App, have a Mastercard card and can withdraw from the entire Banco24Horas network. Open yours now!

LEGAL ENTITY

With the Digital PRO Account, Banco Inter's account for legal entities, you can manage all your company's finances through Internet Banking and pay no fees. Request your invitation now!

MICRO ENTREPRENEUR (MEI)

The MEI Digital Account is Brazil's first bank account for individual microentrepreneurs. Are you starting a business? Choose a checking account with no fees, 100% digital and with all the services you need.

INTERPAG

Interpag is the most practical way to pay, receive and transfer, directly from your Digital Account. And an exclusive service for Banco Inter account holders: digital account for individuals and digital account for companies.

CREDIT FOR YOU OR YOUR BUSINESS

• Home Equity
  Banco Inter's Home Equity is a loan secured by real estate. It works like this: you request a loan of up to 50% of the value of your property, which serves as a guarantee of payment without you having to sell or leave it, and make monthly payments in installments that fit your budget.

• Public Consigned Credit
  Banco Inter's Public Loan is the best credit for employees and pensioners of state and federal agencies, so you can organize your finances without incurring interest on credit cards and overdrafts.

Make your dream come true with Real Estate Financing. At Banco Inter you can get credit starting from 7.7% per year + TR or 5% per year + IPCA. Learn more.

INVESTMENTS

With PAI – Plataforma Inter you can invest your way: without intermediaries and without interests that are not yours. With just one click on the app, you can access all investment products.

• Fixed income;
• Investment funds;
• Variable income;
• Private pension;
• Public offerings.

INSURANCE

Banco Inter is versatile. Here, in addition to having the advantages of a free Digital Account, investments, loans and financing, you can also take out insurance with our brokerage.

• Individual: for you and your family;
• Legal Entity: for your business and for your team.

EXCHANGE

International Remittances directly from your Digital Account.

• For you: send and receive international remittances, payments and transfers to different places around the world.
• For your company: payments for imports and receipts relating to exports, receipts of capital contributions abroad and transfers, in addition to other transactions in different currencies.

AUTO AND MOTORCYCLE CONSORTIUM

Is it worth investing in a consortium?

Low cost
You don't pay interest and there is no down payment.

Autonomy
With the letter of credit you can choose any vehicle manufactured in the last 5 years

Organization
The best way to create your financial plan.

How does it work?

• All participants (individuals or legal entities) have a share and contribute monthly with interest-free installments.
• The winner (defined by bid or draw) can choose between withdrawing their letter of credit and purchasing their vehicle, or leaving the money invested in the administrator.
• Maximum duration: 100 months.

REAL ESTATE CONSORTIUM

Advantages

• More chances of contemplation
  Draw, free throw and fixed throw of 20%.
• No surprises
  Find out how much you will pay until the end of the plan!
• Use your FGTS
  You can use the FGTS to bid, amortize or pay off installments.
• More time to pay
  Plans of up to 230 months

4 Reasons to Hire

1. Leaving the rental
   Invest in what's yours. Plan your payments with affordable installments and stop renting.

2. Build or renovate
   How about making that renovation you've always dreamed of happen? Take advantage of exclusive conditions and installments that fit your budget.

3. Planning your retirement
   Invest in your future by purchasing a property. With the rental income, you cover the installment of the consortium and still earn extra income.

4. Buy your first property
   Plan to acquire your first property, with installments that fit your budget and without surprises throughout the plan.

To obtain a second copy of the invoice

1 – Click on one of the buttons corresponding to the bill you need;

2 – Enter your CPF/CNPJ;

3 – Enter the internet code, which is on your bills.

Note: if you do not have a previous bill in hand, you can request the internet code by email: cobrancacri.ativa@bancointer.com.br or by phone: 3003 4070 option 4.

STAY TUNED

To ensure your security and prevent third-party fraud at the time the boleto is generated, please, check if the first three numbers in the typeable line are 077. If these numbers are not available, discard the bill immediately and call Banco Inter's Collections department – 3003 4070 option 4, which will send the correct file.

If you still have questions, access.

To find out about job opportunities at Banco Inter, visit.

Inter Bank Contact

• Capitals and metropolitan regions 3003 4070
• Other locations 0800 940 0007
• Customer Service (24 hours) 0800 940 9999
• Speech and hearing impaired 0800 979 7099
• Ombudsman 0800 940 7772

See also: Nubank: everything you need to know about the digital bank that captivated Brazil.

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