Not all banks require minimum balances and there are often ways to avoid one, such as utilizing only online services, setting up direct deposits, and for students, opening a student account. Margin accounts require at leastR$2,000 as the minimum balance, as required by FINRA.

Financial institutions are required to report large deposits of overR$10,000. However, if the bank reports your cash deposits before you do, you may end up with a fine or, worse yet, have your account frozen. There are also a few other situations that can put you on the IRS's radar.