Uruguay has a very uncluttered financial system. Banks open accounts for non-residents, although some banks may not open accounts to U.S. citizens. Deposits can be held in local currency, US Dollars, or Euros.

The banking system is solid, and is made up of a dozen banks.

The banks that operate in Uruguay are:

• Banco de la República Oriental del Uruguay (BROU or “Banco República”). This is the largest bank, State-owned.
• Itau (Brazil’s largest bank)
• Scotiabank (Canada)
• Héritage (Switzerland)
• Santander (Spain)
• BBVA (Spain)
• HSBC (British)
• Citibank (U.S.)
• Banco de la Nación Argentina (Argentina)
• Bandes (local)

If you are interested in opening a bank account, please get in touch with us. We will be delighted to help you with the process.