09/07/2019, updated 15/06/2023
Banking in Chile can be complicated to understand, especially for a foreigner who just relocated in the country.
We have written several articles to answer the various questions that foreigners arriving in Chile usually have.
The first problem that occurs is the bank account.
- First, let's check if it is worth your time to open a bank account in Chile.
- Then, how to open a checking account in Chile. The checking account is the standard bank account that allows you to get a credit card. Yet, it requires a recurring income above $800,000 Chilean pesos per month.
- If you do not qualify to open a checking account, see how to open a CuentaRUT. The CuentaRUT is a more limited account. Yet, it is cheaper and available to anyone with a valid Chilean ID Card.
Please read also our articles about:
- The Chilean currency: details about notes and coins available in Chile
- Credit and debit cards in Chile: how does the system work?
- Banks cheques: in most countries, they do not exist anymore. In Chile, you can still pay with a check. If you carry your checkbook with you, read this article, because your money can be at risk.
- UF and UTM, 2 financial indexes that you will see everywhere in Chile. It is good to know what they are, and how to check what their value is.
- Our review about online payment systems in Chile.
- A few extra tips about banks in Chile: opening hours, which bank to choose
- Our guide on how to transfer money from / to Chile
If you need more details, or want to have access to specific regulation about Chile financial system. You can check the website of the Comisión para el Mercado Financiero.
If you have a problem or a conflict with your bank, you can liaise with SERNAC, the National Consumer Service (el Servicio Nacional del Consumidor), which can help solving the conflict.
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