BankingUpdated 2025-01
Can I open a bank account in Paraguay without residency?
Yes, some banks allow tourists to open accounts, though options are limited. Full banking requires residency.
Key Takeaways
- Banco Atlas and Banco Familiar accept tourists
- Basic accounts possible with passport only
- Full banking services require residency
- Keep international accounts (Wise) during transition
- Residency opens all banking options
Yes, you can open a basic bank account in Paraguay without residency, though your options are limited. Here's the complete picture.
Tourist Account Options
Some banks will open accounts for tourists/non-residents:
**Banco Atlas** - Most foreigner-friendly
- Opens accounts for tourists with passport only
- USD and Guaraní accounts available
- Debit card issued
- Online banking access
- Minimum deposit: ~$100
**Banco Familiar** - Also works with tourists
- Similar requirements to Atlas
- Good for basic banking needs
**Requirements for Tourist Accounts**
- Valid passport
- Proof of address (hotel receipt or rental agreement)
- Initial deposit ($100-500 depending on bank)
- In-person visit required
**Limitations of Tourist Accounts**
- Lower transaction limits
- May not get credit cards
- Some investment products unavailable
- Wire transfer limits may apply
- Some banks close accounts if inactive
Full Banking with Residency
Once you have residency (even temporary), all banks open to you:
- **Banco Itaú** - International, good for transfers
- **BBVA** - Spanish bank, solid reputation
- **Banco Continental** - Local favorite
- **Sudameris** - Good savings rates
With residency you get:
- Higher limits
- Credit cards
- Investment accounts
- Easier international transfers
- Full online banking
Practical Strategy
- **While Tourist**: Open Banco Atlas account for local payments
- **Maintain International**: Keep Wise, Revolut, or US bank for transfers
- **After Residency**: Open primary account at preferred bank
- **Transfer Method**: International wire or Wise to local bank
**Tips for Success**
- Bring original documents, not copies
- Go to main branches (better English, more experience)
- Dress professionally (Paraguay is formal)
- Bring more money than minimum (shows seriousness)
- Be patient - process takes 1-2 hours
Alternative: Digital Banking
While in transition, use:
- Wise (best for USD/Guaraní exchange)
- Payoneer (good for freelancer income)
- These work great alongside local account
Sources
Have More Questions?
Explore our comprehensive guides to Paraguay