Mercado Pago review

The account pays a headline rate of 105%. The rate type is variable, so the figure can move rather than staying set for a term. Interest accrues daily on business days and the money remains usable at any time.

The monthly fee is BRL 0 and the pricing model is no monthly fee, so there is no recurring charge to keep an eye on. Money also leaves without a listed charge, at ARS 0 per transfer.

There is no minimum deposit, listed as BRL 0, and no minimum balance to maintain. The account is easy access and the money is usable at any time, with no IOF charged on the balance.

Delivery is Instant and the transfer fee is free, which works out at ARS 0. Because the account is digital only, transfers are handled in the app rather than at a counter.

The account is run by Mercado Pago Instituicao de Pagamento Ltda., which is headquartered in Brazil. The listed audience is business and teen, so readers comparing on the legal entity behind a balance rather than on the rate can start from that name.

Support runs on help centre and phone, meaning a help centre and a phone line are the listed routes. A specific payment or balance query can be raised on the phone line, with the help centre holding the written detail.

The account covers 2 currencies, which sits below the 5 median across the accounts listed here. That points to spending in one region rather than holding a stack of currencies for travel.

The listed audience is business and teen: business users and teens. Set against a 105% headline rate, a BRL 0 minimum deposit and easy access access, it reads as a payment account that pays interest rather than a dedicated savings product.