How to Open a Bank Account in Peru as a Forigner

In Peru, opening a bank account seems simple until you try it. What worked for one person might not work for you, requirements can vary, and different banks may tell you different things.

This useful guide explains what to anticipate, what paperwork you could need, and how to steer clear of the most common problems.

A common concern is if you need a Carnet de Extranjería. The answer is usually “yes.” It simplifies the process considerably and is the standard form of identification for foreigners residing in Peru. Without it, things could become difficult. Depending on the branch and even the person assisting you that day, some banks will let you open a basic account with just your passport and occasionally a visa. In one place, you might be told “yes,” while in another, “no.”

It is essential that you bring a passport and, if you have one, your Carnet de Extranjería. Additionally, a lot of banks will request proof of address, such as a utility bill or a lease. It’s helpful to have a Peruvian phone number, and you might occasionally be asked simple questions about your job or income. Being overprepared is usually the safest course of action because the process isn’t always consistent.

Not all banks in Peru are equally easy to work with as a foreigner. Banco de Crédito del Perú is the largest and tends to be the most accessible, with a wide network of branches and ATMs. Interbank is often seen as more modern and sometimes a bit more flexible, depending on the branch. BBVA Perú is another solid option, though it can be a little stricter with requirements. It’s worth trying more than one bank if you run into issues, because the experience can vary more than you’d expect. A lot of expats prefer Scotiabank. Scotiabank can be a good option, but it’s not usually the easiest place to start if you’re new and still figuring things out. If you don’t have your Carnet yet, you’ll probably save yourself time by trying another bank first and coming back to Scotiabank later.

Most people will open a basic savings account, known locally as a cuenta de ahorros. These accounts usually come with a debit card and access to online banking. You’ll often have the option to open the account in Peruvian soles or U.S. dollars. Some banks also offer simplified or digital accounts, but these may come with limitations, especially if you don’t have a Carnet de Extranjería.

The biggest challenge for many people isn’t the paperwork itself, but the unpredictability of the process. It’s common to receive different answers depending on who you speak to. You might be told to come back another day due to a system issue, or that a document you brought isn’t sufficient, even if someone else told you it would be. Wait times can also be long, so it’s a good idea to go early and plan to spend at least a couple of hours there. It’s best to go to banks in touristic areas, as they are likely to have more employees trained or knowledgeable on how to open accounts for foreigners.

Once your account is open, things become much easier. Most accounts include a debit card, access to mobile banking, and the ability to withdraw cash from ATMs across the country. Some accounts don’t charge monthly fees as long as you maintain a minimum balance, but it’s important to ask about this upfront. Fees can also apply when using ATMs from other banks, so that’s something to keep in mind.

In the end, opening a bank account in Peru is completely doable, but it rarely feels straightforward the first time. If you have your Carnet de Extranjería, the process is much smoother. If you don’t, it may take a few attempts and a bit of persistence. Once it’s done, though, having a local account makes everyday life much more convenient, from paying bills to receiving money and avoiding international transaction fees.

One thing you’ll quickly notice in Peru is how common mobile payments are. Apps like Yape and Plin are used everywhere, from small market vendors to taxis and even some restaurants. QR codes for these apps are everywhere. In many situations, people will ask if you can pay this way before mentioning cash.

The catch is that you can’t really use these apps without a Peruvian bank account. Both Yape and Plin are tied directly to local banks, so having an account is what makes them work in the first place.

Yape is connected to Banco de Crédito del Perú, and while it’s one of the most widely used apps in the country, it’s not always easy for foreigners to set up. In most cases, it requires a DNI rather than a Carnet de Extranjería, which means many expats can’t use it right away, even if they have a bank account.

Plin is a bit more flexible since it works with several banks, including Interbank and BBVA Perú. That makes it a more realistic option for foreigners, especially once you have your account set up. Still, the key point is that without a Peruvian bank account, neither of these apps will be very useful.