Global66, a Latin American remittances startup, has announced a new feature for its Global Account, providing Colombians with a 6% annual effective (E.A.) interest rate on individual dollar accounts and 5% E.A. for company accounts. This service allows Latin Americans to earn interest in real dollars without opening an account outside their home country.
As of the start of October, the dollar’s exchange rate in Colombia is approximately $1 USD to 4,053 COP, with an average rate of $1 USD to 4,131 COP. Predictions suggest an end-of-year rate between $1 USD to 4,150 COP – 4,200 COP.
“With the changing dynamics of Latin American currencies, we identified a need for dollar accounts that can generate interest. Our Global Account aims to address this,” stated Tomás Bercovich, co-founder and CEO of Global66.
Additionally, Global Account users have access to instant transfers between Global66 accounts, international transfers to over 65 countries, a Mastercard debit card in Chile, Colombia, and Peru, and currency exchange options for several Latin American currencies, dollars, and euros.
Read more at latamfintech.co