Uruguay: banking for non-residents and digital nomads. Uruguay is outside the EU where, for a foreigner, accounts open with some effort and generally leaves foreign income untaxed. Most banks work mainly with local and regional clients, so it pays to come prepared with proof of address, source-of-funds evidence and a clear account purpose.
Opening an account and going remote. A personal branch visit is normally needed to open the account; others note an in-person branch visit was still required.
Reporting, AML and stability. Uruguay takes part in CRS automatic exchange, so an account here is reported to your tax-residence country each year; it is not on the FATF/EU AML high-risk lists, so onboarding follows standard due-diligence rather than enhanced scrutiny; political and economic stability is rated high (World Bank governance indicators), which shapes the risk of capital controls, abrupt banking-rule changes or currency turmoil affecting your account.
What applicants report. What people brought: passport, $500 USD minimum deposit, proof of address (hotel address accepted), two forms of identification, ID document, proof of address, minimum deposit, minimum deposit of 25,000 UYU. practical tips from the community: bring two forms of ID (DNI, cédula, passport); hotel address is acceptable as proof of address; choose branch carefully as it determines future service location; foreign address from abroad is acceptable; personal account is straightforward with basic documentation; can register a company in Uruguay as a foreigner. Treat this as community orientation, not a guarantee.
Bottom line. Banking access in Uruguay is workable but uneven, so come prepared and keep a backup.
One card per case and applicant type. Colour shows the reported outcome.
A non-resident looking to open a BROU account to receive dividends and foreign salary was told by commenters that BROU requires passport, $500 USD minimum deposit, and proof of address (hotel address accepted). Two forms of ID are mandatory. The branch chosen at opening becomes the permanent service location for all future transactions unless formally transferred.
A Chilean entrepreneur planning to open a Uruguayan bank account for an online business was told personal account opening is easy with ID, proof of address, and a minimum deposit. Business accounts require more paperwork and company registration, but opening a company in Uruguay as a foreigner is possible.
A foreigner who moved to Uruguay was planning to open an Itaú account to transfer savings from Revolut. Fellow users confirmed Itaú receives international Revolut transfers within minutes at a combined cost of ~$13.55 USD. The OP noted Revolut ceased service after detecting the Uruguay move as it lacks a local license. A minimum balance of ~25,000 UYU is required to avoid monthly fees, and domestic transfers between Uruguayan banks under 50,000 UYU can be done without visiting a branch.
A Bolivian national planning a non-resident account at Itaú confirmed via phone the requirements: apostilled bank reference letter, apostilled utility bill, two forms of ID, and a $200 USD minimum deposit. Another user noted Itaú historically required $50,000 USD for non-resident accounts, suggesting the bank may have relaxed requirements or that the $50k threshold applies to specific account tiers.
A user seeking a bank account for Google Adsense payments received fee comparisons: Itaú charges ~UYU 300 monthly account fee plus $10 USD per international incoming transfer, while Scotiabank charges $17.50 USD per transfer with no monthly cost. One user recommended HSBC as the best option.
An Uruguayan living abroad asked about Uruguayan bank accounts for non-residents. A respondent reported Itaú has the lowest international transfer fees and superior online banking. Two users strongly advised against BROU, describing it as an 'absolute disaster' with contradictory information between staff, confusing international transfer processes, and a requirement to visit the branch in person for everything. One user closed their BROU account entirely and was happier. BBVA was also recommended as an alternative to Itaú.
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