How to Open a Bank Account in Uruguay — Straight Talk

Opening a bank account in Uruguay is totally doable, but a lot depends on whether you have a Cédula and what kind it is. That’s the key detail.

If you already have a permanent Cédula, most banks will open an account for you without much hassle. If your Cédula is still “en trámite” (in process), it’s trickier. Some banks will still work with you, but they may ask for a deposit — usually around $5000 locked for 6 months. This is common with banks like BROU and Itaú.

If you don’t have a Cédula yet and just have your passport, you likely won’t get far with traditional banks. But no worries — fintech platforms have your back. They’ll open an account just with your passport, and you can do it all online. You’ll get a card delivered to your address in Uruguay and can use it for transfers, payments, savings — all the basics.

What Banks Typically Ask For

Traditional banks (not fintechs) usually want:

• Your passport
• A second ID (like a driver’s license)
• Proof of income (pay stubs, tax forms, contracts, etc.)
• Proof of address in Uruguay (rental contract, utility bill)
• And sometimes, a deposit

If you don’t have all of that, or just don’t want the paperwork headache, fintech is your best bet.

Where You Can Open an Account

BROU — Uruguay’s biggest public bank, with branches all over. They’re the most flexible if your legal status isn’t finalized, though they might still ask for a deposit. Solid, but their online system is pretty outdated.

Itaú — Modern, with a great app and smoother client service. Similar to BROU in terms of requirements, but generally a better experience.

Santander, Scotiabank, BBVA, HSBC — These international banks are solid and offer excellent service, but they’re picky with foreigners who don’t have full residency. They usually want full documentation and a clear financial profile.

Fintech Is Your Easy Option

If you’ve just arrived and don’t want to mess with documents, go with fintech:

• Prex
• Midinero
• OCA
• Redpagos
• Meru

These services will open accounts with just a passport. You sign up online, confirm your address, and get your debit card in the mail. You can receive transfers, hold pesos or dollars, shop online and in stores — works like a regular bank.

Things to Keep in Mind

Uruguay takes its banking system seriously. You won’t be able to open an account “just in case” without a clear purpose. Even if you get the account, you’ll likely be asked to explain where your funds are coming from and what the account is for. That’s normal.

The good news? The system is stable, secure, and well-regulated. As long as you’re transparent, there won’t be issues.