Banking
Chile — Banking: Opening Account
Foreigners need a valid passport, a Chilean ID with RUN, a tax RUT, proof of Chilean address and proof of income to open a Chilean account.
VerifiedProfessional tax guide — not a government sourceGolden Harbors, bank account in Chile (commercial source, 2026 approximate fees)Last reviewed: 2026-10-26
Why this matters
A local bank account is essential for everyday life in Chile, including paying bills and receiving wages. Without one, you may face challenges in managing your finances.
Key facts
- Documents: passport valid at least 12 months, cedula with RUN, RUT from the SII, proof of address dated within 60 days, and proof of income (contract, three months of payslips, pension certificate or business statements).
- Sometimes required: a reference letter (about 30% of banks), visa certificate if the RUN is recent, and W-9 or W-8BEN for US persons.
- Initial personal deposit is USD 50 to 200; credit cards and overdrafts may take 4 to 8 weeks while the bank reviews credit history.
- Banks named include Santander Chile, Banco de Chile, BCI, BancoEstado, Scotiabank Chile and Itau Chile.
- Figures are approximate (about CLP 950 per USD); confirm with the bank.
Steps
- Step 1: Choose a Bank — Select a bank with which you are comfortable, considering factors such as location, fees, and online services.
- Step 2: Gather Required Documents — Collect the necessary documents, including proof of address, income, and a work visa (if applicable).
- Step 3: Open the Account — Visit the bank's branch in person and present the required documents to open the account.
- Step 4: Activate Online Banking — Once the account is open, you can activate online banking services to manage your account remotely.
Costs
- Initial deposit (personal): USD 50 to 200