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T.S. Johnson

Guide to Banks in Chile

Banks in Chile offer opportunities for financial investment and export assistance


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Finding the right banks in Chile should be at the top of your "to-do" list if you're moving to or setting up a business in this South American country.

Take the time to carefully research your options for Chilean banks. Volatility in the financial sector of all countries is not uncommon these days. Here are a few things to keep in mind:
  1. Find a US bank with branch banking in Chile. This will make your transition easier since you can set up an account state side and will be familiar with all of the procedures and workings of the bank.
  2. Seek help with finding the right banks in Chile from people who have already gone through the process. Ask friends, family, expatriates or anyone who has banked in the nation about the different Chile banks and the steps you need to take to get things done.
  3. Use the largest commercial banks of Chile for personal use since they will be the ones that you will have the most access to throughout the country.

Action Steps
The best contacts and resources to help you get it done

Find US banks in Chile for your banking needs


Most major US banks operate abroad as well. Finding a US bank in Chile can make your transition to the country much easier. If you don't already have an account with the US bank operating in Chile, than open an account stateside before making a move to Chile or starting a business there.

I recommend: Citibank is one of several US banks that operate in Chile. Wachovia is another international bank in Chile that you can use.

Contact expatriates for advice on banks in Chile


If you don't know where to begin when banking in Chile, seek out expatriates for advice. They have already made the transition from the US to Chile, so they can give you the information you need to begin that process.

I recommend: Allo’ Expat has forums for expats that can help you with all the information you need to find Chilean banks. Transitions Abroad offers a list of resources covering business and economics in Chile. They can provided information on the various banks of Chile.

Use the largest Chile banking institutions for everyday business


Just as there are benefits to using the big banks here in the US, there are advantages to using the biggest of the commercial banks in Chile for your everyday banking in this South American nation. Using the largest Chile bank will give you more access to branches throughout the nation, more access to ATM's, as well as just making your transition to Chile much easier.

I recommend: Banco de Chile is the largest bank in the country’s banking sector. Banco BHIF offers the most developed online banking system throughout Chile and Latin America.

Tips & Tactics
Helpful advice for making the most of this Guide

  • Pay attention to the actions of the Central Bank of Chile. The decisions they make will affect monetary policy, other Chilean bank account holders and the economy as a whole.

The official source of Banks in Chile is the Banks in Chile page at Business.com

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