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Banking in Uruguay?

jjrapy

Active Member
May 13, 2020
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well thanks for the notice haha
in that case, are there any countries in the region that you'd consider as a choice of banking that meets the bare minimum?
What mínimums are we talking about? To be honest, in the region maybe Uruguay. No other one. I think we have some decent banking (low minimums, most fees are flat not a %, also low amount protected around $25k right now).
Access to brokers it very very hard (until now jus IBKR and T212 I’ve successfully tried.
but truly speaking, I don’t know a thing about the banks and their relationship with crypto and Emi related transactions.
 
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What mínimums are we talking about? To be honest, in the region maybe Uruguay. No other one. I think we have some decent banking (low minimums, most fees are flat not a %, also low amount protected around $25k right now).
Access to brokers it very very hard (until now jus IBKR and T212 I’ve successfully tried.
but truly speaking, I don’t know a thing about the banks and their relationship with crypto and Emi related transactions.
thanks, will check Uruguay banks out :)
 
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Do banks in Uruguay allow foreigners to open a bank account without being present in the country?

Many countries in South America don't allow foreigners to open accounts at all and some of them don't even allow it to people with a temporary residence permit.

I personally find it curious that someone is looking to open a bank account in South America when so many people in the region are trying to open accounts in other currencies like USD, EUR, and cryptos to avoid the rampant devaluation of their currencies :)
 
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Do banks in Uruguay allow foreigners to open a bank account without being present in the country?

Many countries in South America don't allow foreigners to open accounts at all and some of them don't even allow it to people with a temporary residence permit.

I personally find it curious that someone is looking to open a bank account in South America when so many people in the region are trying to open accounts in other currencies like USD, EUR, and cryptos to avoid the rampant devaluation of their currencies :)
All it’s negotiable. In the boundaries cities, between Brazil and Paraguay for example it’s easy to open a bank account for the foreigners.
that said, many Brazilians have accounts in Paraguayan banks and viceversa, specially Brazilians because I think they are not allowed or it’s very difficult to open an USD account in Brazil.
Most make businesses in the area or so some laundry that’s why they’re people looking for South America.
 
returning back to the original topic...

What banks in Uruguay allow foreigners? there are banks that allow account opening without visiting the country?

I remember that some years ago many software developers from Argentina opened bank accounts in Uruguay to be able to receive USD payments from clients outside of Argentina but as far as I remember a personal visit to Montevideo was required to open the accounts.
 
Many countries in South America don't allow foreigners to open accounts at all and some of them don't even allow it to people with a temporary residence permit.
is this new? Uruguay was much more open years back, you just needed to visit the country, take your lawyer or tax advisor with you to the bank and wola you got your secret bank account.
 
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is this new? Uruguay was much more open years back, you just needed to visit the country, take your lawyer or tax advisor with you to the bank and wola you got your secret bank account.

I'm not particularly familiar with Uruguay since my last visit there was 7 years ago, but it's the case for Colombia, Ecuador, Peru, and Chile.

I'm interested in reading more about experiences with banks in Uruguay :)