We’ve had several inquiries on how to open a bank account in Uruguay. Instead of addressing everyone separately, we thought we’d just write a blog about how to open a bank account in Uruguay.
We knew we needed to open a bank account in Uruguay for business purposes when we arrived, so we did a little research about which bank to choose. We found the law states that US Citizens who do not yet have their Uruguayan residency can only open a bank account at the Banco Republica of Uruguay (BROU).
Opening a Banco Republica of Uruguay bank account was super easy to do. You just walk in, take a number and, when it’s called, let them know you need to open a bank account. We used our debit card to put $500 into the new bank account (that’s the minimum deposit to open a bank account with no extra fees at the Banco Republica of Uruguay).
You’ll be required to fill out a little paperwork and present two forms of identification (we used our US Passports and California Drivers Licenses). They’ll also ask you a few questions about how much you’ll be depositing each month, etc. Banco Republica of Uruguay will even issue your debit cards on the spot.
They’ll also provide you with all of the information you need to wire money from your US bank account to your Banco Republica of Uruguay bank account (although your US Bank may not make that so easy…).
And you are done opening your Banco Republica of Uruguay bank account. I wish there was more to tell, but there isn’t. It was one of the easier things we have done since moving to Uruguay.