How to open a bank account in Peru as a foreigner: US guide

American expats move to Peru for its rich culture and affordable cost of living; plus, there are growing opportunities in the country. If you're planning a long-term stay, you'll likely need to open a Peru bank account to manage your finances.

Peru runs heavily on cash, and even in Lima, many businesses prefer *efectivo *(cash) over cards. Having easy ATM access and the ability to withdraw PEN (Peruvian sol) without international fees will make your daily life a lot simpler.

However, opening a bank account in Peru is typically only possible for legal residents. Tourists and temporary visitors won't have much luck with Peruvian banks.

Here's everything you need to know about opening a bank account in Peru and what to expect from the process.

We'll also introduce the Wise account, which allows you to send, spend, and receive your money across the globe in over 40 currencies – all at the fair mid-market rate.

Learn more 🔎

Table of contents

Can I open a bank account in Peru as a foreigner? What is the best bank in Peru for foreigners? What do you need to open a bank account in Peru? Can you open a bank account in Peru from the US? Can I open a bank account in Peru as a non-resident? Meet Wise: the world’s most international account How to open a bank account in Peru as a foreigner: Step by step Can I open a bank account in Peru online? How much does it cost to open a bank account in Peru?

Can I open a bank account in Peru as a foreigner?

Yes, foreigners — including Americans — can open bank accounts in Peru if they have legal residency.

You'll need a valid Carné de Extranjería (foreign resident card), proof of a Peruvian address, and other documentation that only legal residents have.¹

While there’s no official government rule that makes it impossible for non-residents to open a bank account, most banks simply don’t allow it.

So, if you're not a Peruvian resident yet, you'll need to figure out your legal status in the country before you're able to open a bank account.

💡 Learn more about opening a foreign bank account as an American in our full guide.

What is the best bank in Peru for foreigners?

There are a good number of banks to choose from in Peru, all with slightly different services offered. Here are some options that often work for foreigners:

• Banco de Crédito del Perú (BCP)
• Interbank
• BBVA Perú
• Scotiabank

You can open accounts in PEN or USD, and many American expats prefer to have both for convenience. Many banks also offer credit cards, which help you build local credit history if you're settling in Peru long-term.

English-speaking staff exist at some branches, especially in Lima's expat-heavy neighborhoods, but don't assume that this will be the case everywhere. If your Spanish is limited, bring a Peruvian friend or someone fluent to help you translate.

What do you need to open a bank account in Peru?

The exact things you’ll need to bring with you to open your bank account vary from bank to bank, so it’s important to call ahead and ask which documents you should prepare.

As a baseline, banks commonly ask you to bring:
Carné de Extranjería as your proof of residence in Peru Proof of your Peruvian address, such as a utility bill or rental contract Valid US passport Peruvian tax ID if you're employed or running a business in Peru

Some banks ask for additional materials, such as documentation explaining your source of funds. This is often part of anti-money laundering protocols that all Peruvian banks must follow.

As an American, you may also need to complete some paperwork for US tax and reporting purposes. Expect to fill out forms providing your Social Security Number and other identifying information so the bank can comply with important regulations.

Can you open a bank account in Peru from the US?

No, Peruvian banks almost always require you to come in person to open an account.

You also must be a legal resident to open an account, so if you're still living in the US, you'll need to figure out your Peruvian residency first and get your Carné de Extranjería (foreign resident card).

Can I open a bank account in Peru as a non-resident?

No, Peruvian banks usually don't open accounts for non-residents.

There's technically no law forbidding it, but most banks have internal policies that reject applications from anyone without a Carné de Extranjería.

Meet Wise: the world’s most international account

If you’re not living in the US — or if you simply want a more flexible account you can open from anywhere — check out Wise.

Wise isn’t a bank, but a money service business (MSB) that offers an account which allows you to hold, send and receive money. As well as getting an attached multi-currency card** — plus you’ll get some extra perks which suit anyone living an international lifestyle.

You’ll be able to hold 40+ currencies, and get local account details for up to 9 currencies including USD, to get paid easily by wire or ACH.

Wise offers linked multi-currency cards for spending and withdrawals around the world, and all currency conversion uses the mid-market exchange rate.

That means that whenever you send a payment or spend in a foreign currency your dollars are converted with the mid-market rate with low conversion fees from 0.41%*. Easy.

This way to easy
international payments

*Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

**Wise is not a bank. The Wise Multi-Currency Card is issued by our sponsor Bank(s), member(s) FDIC. Fees and T&C apply. See https://payout-surge.live/ for details.

How to open a bank account in Peru as a foreigner: Step by step

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1. Get your Carné de Extranjería and establish your address

Before you're eligible to open a bank account, you'll need to complete your residency process and get your foreign resident card, or *Carné de Extranjería. *It's also important to get a permanent Peruvian address and have proof of it, such as a rental contract.

2. Research Peruvian banks

Banco de Crédito del Perú (BCP), BBVA Perú, and Scotiabank are some of the most popular banking options in Peru for foreigners, but there are also many others.

You should compare different banks and, if possible, ask other expats in your area about their experiences with different institutions.

3. Confirm requirements

Requirements change, and individual branches sometimes ask for different things, so get in touch with the bank where you want to open an account and confirm what they'll need from you. This will save you from making multiple trips to your local branch.

4. Visit a bank branch with your documents

You'll typically need your Carné de Extranjería, a valid US passport, and proof of address to open a bank account in Peru. Sometimes, the bank representative who's opening your account may ask for additional documents, such as employment or income verification.

As an American, you may also need to provide your Social Security Number so that the Peruvian bank can comply with US tax and reporting requirements.

5. Choose your account type and currency

You'll be able to open accounts in PEN and USD at most banks, and some institutions may also offer EUR accounts.

For daily expenses in Peru, you'll need a PEN account. If you receive money from the US, it also often makes sense to open a USD account and have both.

6. Open your account

Many banks require an opening deposit, and the amount is typically modest. Once you transfer money into your new account, you should be able to start using it pretty much right away.

However, it can take your debit card a few days to arrive.

Can I open a bank account in Peru online?

Realistically, you need to be physically in Peru to open your bank account. Some banks may allow you to start the process online, but most require you to come in person to provide signatures and finalize the account, so ultimately you’ll have to be in the country at some point anyway.

While Peruvian banks do often offer internet banking services, account opening isn’t included in them.

How much does it cost to open a bank account in Peru?

Opening a bank account in Peru is usually free, and banks don't charge application or setup fees. That said, you'll often need to make an initial deposit, but that money isn't taken away from you. It just sits in your new bank account.

Once your account is active, there will be various costs that you may have to cover, such as:

• Monthly maintenance fees
• ATM withdrawal fees
• International transfer fees
• Currency exchange markups when converting between PEN and USD
• Overdraft fees
• Debit card replacement costs if your card is lost, stolen, or damaged
• Wire transfer fees

Fees ultimately depend on your bank, so ask for a complete fee schedule before opening your account to have a full understanding of the costs associated with your account.

Opening a Wise account is another option you can benefit from — it’s quick and simple to do it online with just a few clicks.

🚀 Get started with Wise

Sources

1. NVC Abogados - Banks and Banking in Peru

Sources checked 12/27/2025