Banks in Paraguay: Local and International

Choosing the right bank (or banks) depends on your needs. We can open an account for you at any of the main banks we work with regularly:

Local Banks

  • Ueno Bank - EXCLUSIVE PARTNER

    Ueno is an innovative, 100% digital Paraguayan bank built for a modern, simple, and fast banking experience. Hugely popular with entrepreneurs and international clients, it offers powerful online services with no hidden fees.

  • Continental Bank

    Banco Continental is one of Paraguay's largest private banks, offering a full range of financial services to individuals, businesses, and investors. Known for its stability and customer service, it plays a major role in financing large national projects.

  • GNB Bank

    A subsidiary of Colombia's GNB Sudameris financial group, Banco GNB Paraguay stands out for its focus on high-net-worth clients and businesses. It offers a range of banking products, including loans, investments, and wealth management solutions.

International banks

  • Itaú Bank - EXCLUSIVE PARTNER

    A subsidiary of Brazil's Itaú Unibanco group, Banco Itaú is one of Paraguay's strongest and most modern banks. It offers full banking services for individuals and businesses, with a strong digital presence and excellent customer service.

  • Banco Santander

    Present in Paraguay for decades, it's part of the internationally recognized Spanish banking giant. It offers a variety of financial solutions, especially for investment and international trade.

Our rate:

  • Single price: €250

    • Account Opening: We offer a complete bank account opening service in Paraguay, with personalized English-speaking support.
    • Document Preparation: We prepare all the required paperwork and go with you to your bank appointment.
    • Foreign Currency Accounts: Your account can be opened in Guaraníes and/or foreign currencies (USD/EUR), with a debit/credit card included if you qualify.
    • Online Access: We help you set up online banking and international transfers.
    • Business Account: For entrepreneurs, we also open business accounts with your RUC.
    • Follow-up: Ongoing support after opening for any questions or help you need.

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See also

Opening a Paraguayan bank account first requires getting your Paraguayan residency card. To make the most of your situation, we also recommend establishing your tax residency in Paraguay to benefit from the 0% territorial tax regime.

FAQ: Bank Account in Paraguay

Do I need to be a Paraguayan resident to open a bank account?

Yes, you need both the residency card and the Paraguayan Cédula to open a bank account in Paraguay. That's why we offer a full-service package combining residency and account opening in a single trip.

Which banks can you help me open an account with?

We work with Paraguay's leading banks, including Ueno Bank, Banco GNB, and Banco Itaú. We'll recommend the best fit for your situation.

Can I manage my account remotely?

Yes, every bank we work with offers full online banking. You can make transfers, check your balances, and manage your account from anywhere in the world.

What are the benefits of a Paraguayan bank account?

A Paraguayan bank account lets you receive international payments, hold funds in a country with territorial taxation, and access the local financial services you need to start a business or invest.

On top of that, some banks offer annual interest rates of up to 10%.

How long does it take to open an account?

Your account is opened during your stay in Asunción, usually within 1 to 2 days. We book the appointments ahead of time to make the most of your time on site.

Have a Question? Write to Us