Discover the ins and outs of opening a bank account in Uruguay for non-residents. Learn about the requirements for residents, tourists, and quick solutions. Explore your options in banking and payments in Uruguay today.
Is it easy for a non-resident to open a bank account in Uruguay? No, it is not. If you are a resident of MERCOSUR countries (Argentina, Brazil, Venezuela, Paraguay), you can easily get access to local and foreign banks in Uruguay. However, if you are from Europe and Asia, you will need to apply some effort. People often decide to find an easier way and use a foreign bank card to make payments.
Banking for Residence Permit Holders
Do you have a local ID document and the right to long-term residence in Uruguay? You can easily choose any bank and open an account. If you need a debit (credit) card, it will also be issued upon request. You will need to complete some formalities, though:
- Submit your Uruguayan ID
- Provide proof of the origin of funds (salary slip, real estate sale agreement)
- Provide proof of the place of residence in Uruguay
- Provide proof that you have a bank account in a foreign country.
Banking for Foreign Tourists
If your stay in the country is not very long, you will hardly get access to local banking services. Even the immigrants who have just arrived in the country complain about difficulties and say that each bank sets different regulations.
However, there is a way out!
Brou bank is ready to open a bank account for non-residents (even if they are not residents of MERCOSUR countries) – here are the requirements you will have to meet relevant as of May 2023:
- You will need to make a six-month deposit of 5,000 US dollars at a low interest. Upon completion of this term, you can transfer this amount to an ordinary account and spend it as you wish.
- You will need to confirm the income with a notary’s stamp and signature (there is no problem to do that in Uruguay).
- Get a registration (residence) certificate in any police department in Uruguay. You will need to confirm payment of local utility bills or take two local residents with you to serve as your attorneys for one day.
- You will need to provide a passport and a second ID document at the bank.
- It would be good to have a local phone number as the bank may need it (or it may be interested in offering some products for you in return for easy account opening).
Quick Help for Non-Residents
You are not a resident of a MERCOSUR country or a residence permit holder, and you don’t have 5,000 dollars to keep with a Uruguayan bank for 6 months (or you have no desire to do so). What can you do?
- Set up an account with any bank abroad (make sure its payments are accepted in Uruguay)
- Create an account in a payment system and get a payment card that will be accepted in Uruguay
- Take cash with you
You can contact our specialists to get a Unionpay card that is accepted almost anywhere. And if you need any advice or help with banking in Uruguay or opening an account in a payment system, click on the above link and get in touch with us via online chat. See you!
