Opening a bank account in Uruguay as a foreigner
A local account makes paying BPS and DGI and getting paid by clients easier. Here's who can open one, the main banks, and the documents usually required.
Having an account at a Uruguayan bank is one of the first practical steps for newcomers: it makes paying taxes (BPS and DGI) easier, lets you get paid by clients, and smooths day-to-day life. Here's a simple guide to opening one as a foreigner.
Who can open one? Residents and non-residents
You don't need residency to open an account: banks serve both residents and non-resident foreigners. What changes are the conditions — non-residents usually face extra requirements (minimum amounts, deposits) worth checking beforehand.
What they usually ask for
Requirements vary from bank to bank, but in general they'll ask for:
- An ID document (cédula or passport) and, sometimes, a second document.
- Proof of address (a utility bill or rental contract).
- Proof of income or of your activity (pay slips, an accountant's certification).
- At some banks, a banking reference letter.
The main banks
The most-used options are BROU (the state bank, with the widest branch and ATM network), Itaú and Santander (private). Each has its own conditions. In BROU's case, there's a specific requirement for non-residents:
BROU sets it out like this for non-residents:
«Los nuevos clientes del segmento NO RESIDENTES extranjeros deberán contratar un plazo fijo por un mínimo de U$S 5.000 (dólares USA cinco mil) o equivalente si el mismo se pactara en otra moneda y a un plazo mínimo de 181 días.»
In English: New clients in the NON-RESIDENT foreigner segment must take out a fixed-term deposit of at least USD 5,000 (or equivalent in another currency) for a minimum term of 181 days.
BROU — Non-Resident Foreign Clientshttps://www.brou.com.uy/personas/cuentas/clientes-no-residentes-extranjerosItaú — Non-Resident Accounthttps://www.itau.com.uy/inst/cuentaNoResidente.htmlWhy it makes taxes easier
With a local account, paying the DGI and BPS is much simpler: you can do it by reference number or by direct debit, no hassle. It also tidies up getting paid by clients and invoicing. To see how taxes are paid step by step, we cover it in our “how to pay” post.
Quick guide
| Bank | Type | Note |
|---|---|---|
| BROU | State | Wide network; non-residents need a minimum fixed deposit |
| Itaú | Private | Usually asks for a banking reference; has a monthly fee |
| Santander | Private | Options for non-residents, remote opening |
Heads up: fees, minimum amounts and documents change over time and by bank. Treat this as a starting point and confirm the current requirements directly with the bank before you begin.
In short: as a foreigner you can open an account in Uruguay, resident or not — with your ID, proof of address and income, and in some cases a deposit or reference. A local account simplifies paying taxes and getting paid. Pick the bank for your case and confirm the current requirements.