Dollars to Reais: using the ATMs

Reais for my next trip to Brasil.

Be careful when you use ATMs in Rio! I knew of several cases where friends after using an ATM had their card numbers stolen and for the next several days $500 dollars a day would be deducted from their account. 

A little under $3,000.00 (that is US dollars) was withdrawn from a friend's account. Without fail, every morning at 8:00am he would immediately see an unauthorized deduction. He had to go to the Tourist Police and call his bank several times. His bank wasn't being very helpful either.  Nevertheless, he managed to solve the issue relatively quick and he's also telling everyone to be careful. As am I.

Having your debit card and using an ATM is of course way more convenient than having to go to a Casa de Câmbio every several days. I used Citibank's ATM's twice and stopped very quickly. They charge you an insanely obnoxious fee and your bank of course charges you another fee. Not worth it! 

Across from O Cobal do Humaitá.

Stay away from HSBC as well, apparently that's where a lot of card numbers get stolen from. I felt comfortable using Banco do Brasil's machine boxes, though I would always choose either the ATM that was located at PUC or one that was actually located inside a bank's office. 

If you're planning to do a study abroad program in Brasil for 6 months or more, your best bet is to get a student type number and open an account with ITAÚ. It's a process but it can be done. You can only use ITAÚ's ATMs if you have an ITAÚ card. That apparently tends to dissuade the culprits.

Regardless, always check your online bank statement every day. When you do get money from an ATM, do print your receipt. It is never a bad idea to have a document of sorts. Regardless of where you're traveling or where you live, always be aware. Best of luck!