Live and Invest Overseas

Banking In Uruguay…Uruguay’s Best Climate


"With respect to your comments recently, Kathleen, about how increasingly difficult it is these days to open a bank account anywhere in the world, I thought I'd write to mention that, in fact, in Uruguay, you can open an account at the government's official bank just by showing your passport. I was not asked for any references. It's not only easy but convenient, at least for banking needs within the country. Most everyone has an account at the government bank, and inter-account transfers are easy via the bank's website. You can hold U.S. dollars, euro, or Uruguayan pesos and move money among the currencies online.

"Contrary to apparent logic, a U.S. citizen can easily open an account at a government bank in this country. We can sometimes open an account at a private non-U.S. bank, but the requirements are stricter, and it's really at the discretion of the manager. You may be turned down by a bank that doesn't want to be hassled by the IRS.

"An American will not be able to open an account in this country at an American bank, such as Citibank. Impossible.
 
"Regardless of which bank you choose, your account information is confidential, even from Uruguayan government agencies.
 
"Also, Kathleen you wrote recently, too, about the weather in La Barra, Uruguay. Not to pick nits, but La Barra's is not the warmest climate in Uruguay. That distinction (among cities I find attractive) would probably go to Salto, which is inland. La Barra is chilly, as are the coastal cities in general, in winter."

-- Latin America Correspondent Christian MacDonald, currently traveling in Brazil

 

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