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Banking in Bolivia

Best banks in Bolivia for expats & digital nomads

Opening a bank account is one of the first things you do after moving to Bolivia. Here are the accounts that work for newcomers and non-residents, plus the fintech we would set up before you fly.

How to open a bank account in Bolivia

You must hold at least temporary residency and a foreigner ID (Carnet de Identidad de Extranjero, CIE) to open an account; tourists cannot open accounts and are limited to ATM use with a foreign Visa/Mastercard. Bring your passport, CIE/residence permit, proof of a local address and a small initial deposit; opening is done in person and usually requires Spanish.

Top banks in Bolivia

Banco Mercantil Santa Cruz (BMSC)

traditional
Reliable primary bank, low fees

Largest bank in Bolivia by assets (~116 branches, 450+ ATMs); generally lower commissions, strong for savings and wire transfers.

Banco Nacional de Bolivia (BNB)

traditional
Premium service, SWIFT transfers

One of the oldest and top-rated banks; dense network, personal and corporate accounts, international transfers.

Banco de Crédito de Bolivia (BCP)

traditional
Best digital banking + USDT access

Subsidiary of Peru's Credicorp; strong Soli app for QR payments and transfers, and offers regulated USDT accounts.

Banco BISA

traditional
USD transfers and stablecoin/crypto

Corporate-oriented bank; launched Bolivia's first USDT custody service (Oct 2024); international transfers in USD/EUR/BOB.

Banco Unión

traditional
Wide branch coverage

State-owned bank focused on financial inclusion; large office and correspondent network, savings and Western Union remittances.

Banco Ganadero

traditional
Santa Cruz region customers

Commercial bank headquartered in Santa Cruz de la Sierra; full retail products, debit/credit cards and remittance alliances.

International accounts & neobanks

Wise

Bolivia is NOT in Wise's list of countries where residents can open and hold a balance, so Bolivian residents cannot maintain a Wise multi-currency account; usable mainly for inbound/outbound transfers where supported.

Payoneer

A practical option for Bolivian freelancers to receive Upwork/Fiverr and client payments (USD/EUR/GBP receiving accounts) and withdraw to a local Bolivian bank. It is a payments platform, not a local bank account.

Availability changes; confirm on each provider's site.

Next steps in Bolivia

See the full Bolivia tax, cost and visa profile, or compare Bolivia with other destinations. Not sure where to go yet? Take the finder quiz.