How can I open a Chile bank account online as a foreigner?

How can I open a Chile bank account online as a foreigner?

How can I open a Chile bank account online as a foreigner?, for travelers, students and foreign workers, We teach you how to open an account in the state of chile as a foreigner.

Options for opening an account in Chile as a foreigner

You should know that it is not possible to open an account in a bank in Chile with only your home country’s passport. As a temporary alternative until you get an RUT, there are several international banks that have operations in Chile, such as BBVA, Santander or ScotiaBank.

If you have an account with one of these banks in your home country, you can inform them in advance of your trip to Chile and bring your debit and credit cards with you. This will allow you to withdraw money through some of these banks’ ATMs.

However, if you plan to legally settle in Chile for a longer period of time, you will need to apply for a visa that will allow you to stay in Chile for a longer period of time than you are staying as a tourist.

To do so, you will need to apply for a visa (temporary, contract, student, or whatever best suits your circumstances) to obtain a RUT, which is an identification document held by all Chileans and foreigners residing temporarily or permanently in Chile. the RUT is mandatory and is required for many procedures, including opening a bank account.

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You can read how to apply for a temporary visa in Chile here.

Main requirements to open a bank account in Chile as a foreigner

The most common requirements to open a bank account in Chile are.

  • Valid RUT (which is the Chilean identification card).
  • Proof of income in Chile.
  • Deposit for an amount of Chilean pesos.


Most banks will not open an account with a temporary visa, but will require long-term permanent status.

If you have a temporary visa, the option for having a bank account in Chile is a RUT account.

How can I open a Chile bank account online as a foreigner? RUT account – a bank account you can have as a foreigner


This is a very simple financial instrument and one of the most popular in Chile. It is an interest-free savings account with no maintenance or opening fees, although they do charge for some transactions.

The requirements to open a Rut account are very simple: be Chilean or foreign with a valid RUT and be over 12 years old if female or over 14 if male. There are no income requirements, no proof of income or salary, and no business history information.

Funds can only be transferred electronically or by debit card. You can make deposits, electronic transfers, ATM withdrawals, and in-store purchases, though there are some restrictions, which we explain below.

How to open an RUT account

RUT accounts are opened at Banco Estado, the National Bank of Chile.

The first thing you need to do is go to the BancoEstado website, select RUT Account in the Products section and click on Apply.

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Next, enter your RUT, your home address, and your contact information.

As you continue with this process, you should download the contract and read it carefully in case you have any questions.

When you move on to the next step, the page will show a number of branches, so you can take your valid RUT to one of them, sign the contract, record your signature, collect your card, and activate your RUT account.

To do an electronic transaction, remember to ask for your coordinator card and record your signature when you pick up your account.

RUT Tax Restrictions.

Certain restrictions apply to the RUT account in terms of transaction limits, credit balances, and balances:

  • Maximum balance limit of $3,000,000.
  • Monthly credit limit of $2,000,000 per month.
  • ATM withdrawal limit of $200,000 per day.
  • Limit for RedCompare, WebPay and international purchases is $200,000 per day and is cumulative.
  • First transfers to new beneficiaries are limited to $100,000 within 24 hours of registration.
  • The limit for online or in-app transfers to other cardholders within 24 hours of the first transfer is USD 1,000,000.
  • The maximum amount for transfers from Caja Vecina to another account of the same account holder is USD 200,000.
  • The maximum amount for transfers from Caja Vecina to another BancoEstado account holder is USD 200,000.

Despite the restrictions, the RUT account is the option that allows you to have a bank account, at least as long as you have a temporary visa. You will only be able to access other accounts after you become permanently inadmissible.

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Fees payable on the RUT account


Among the advantages of the RUT account are that there are no monthly fees to manage the account and that there are no fees for many transactions, such as transfers between BancoEstado accounts or replacing a card if it malfunctions.

However, there are other transactions for which fees are charged, such as transfers to other banks via the internet or the app, or transfers to BancoEstado and other banks’ ATMs.

Fees are charged online at the time of the transaction and may be adjusted once a year, in February, depending on the evolution of the consumer price index for the previous year.

Details of the fees are available on the BancoEstado website.

Bank accounts for international students in Chile


For international students, the university where you are studying may have an agreement with a bank that allows you to open an account.

In this case, you will need to submit the necessary documents.

How can I open a Chile bank account online as a foreigner?

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