MyNomadWorld MyNomadWorld
Home › Chile › Banks

Banking in Chile

Best banks in Chile for expats & digital nomads

Opening a bank account is one of the first things you do after moving to Chile. 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 Chile

A RUT (tax/ID number) is the prerequisite for any Chilean account. Traditional banks are conservative and often ask foreigners for proof of local income and can be reluctant without residency; BancoEstado's CuentaRUT is the most accessible and can be opened once you have your national ID. Full accounts usually need passport, cédula/RUN, RUT, proof of address and proof of income, typically with an in-person visit.

Our top pick

Wise multi-currency account

Wise is the option we recommend for almost anyone moving to Chile: hold and convert 40+ currencies, get local account details to be paid like a local, and send money at the real exchange rate with low, transparent fees. It works before you even arrive, so you can receive income and pay deposits while your local account is still being set up.

Open a free Wise account →

Affiliate link: we may earn a commission at no cost to you. Wise is a fintech, not a bank; balances are safeguarded, not covered by deposit insurance.

Top banks in Chile

BancoEstado (CuentaRUT)

traditional
Most accessible for new arrivals / temporary residents

State bank; its CuentaRUT can be opened by essentially any RUT holder, with low barriers and nationwide coverage.

Banco Santander Chile

traditional
Multi-currency accounts, European residents

Largest by Tier 1 capital; strong digital banking; more oriented to clients with steady income or assets.

Banco de Chile

traditional
Residents with stable local income, long-term banking

Second largest by deposits; largest branch network; conservative underwriting.

BCI

traditional
US-Chile connectivity and entrepreneurs

Owns City National Bank (Florida); its 'BCI Nace' service targets new entrepreneurs.

Scotiabank Chile

traditional
US persons (Bank of America partner)

Canadian-owned; useful for those needing US-Chile banking links.

Banco Falabella

traditional
Everyday retail banking and store-linked credit

Retail-focused bank tied to the Falabella group.

Tenpo

digital
Fast digital CLP/USD wallet without a branch visit

CMF-licensed fintech (backed by Credicorp); accepts some non-residents; useful as a transitional account.

MACH

digital
Prepaid card and app wallet

Digital wallet operated by BCI.

International accounts & neobanks

Payoneer

Available to Chilean freelancers and businesses to receive international USD/EUR payments.

Availability changes; confirm on each provider's site.

Next steps in Chile

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