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Peru – Banking

Peru is a country in South America with a diverse and growing economy. If you are planning to move to Peru, you will need to know about the banking system in the country. In this article, we will answer some common questions about banking in Peru.

Main Local Banks in Peru and Contact Details

There are several local banks in Peru that you can choose from, including:

Presence of UK and USA Banks in Peru

Several major UK and USA banks have a presence in Peru, including:

  • Citibank Peru – Citibank operates in Peru and offers various banking solutions.
  • HSBC Peru – HSBC serves customers in Peru with its banking services.
  • Standard Chartered Peru – Standard Chartered is a major international bank with a presence in Peru.

Accounts and Services for Expats

Most banks in Peru offer accounts and services that are available to both residents and non-residents. However, some banks offer specific services aimed at expats, including:

  • BCP’s Cuenta Experta – BCP provides expats with a free debit card and online banking services in English.
  • Interbank’s Expat Banking – Interbank offers a range of services, including accounts in multiple currencies and help with visas and residency permits.

Typical Bank Opening Hours in Peru

Most banks in Peru are open from Monday to Friday, from 9:00 AM to 5:00 PM. Some banks may also be open on Saturdays, but with shorter hours.

Specific Areas of Concern for Expats

One area of concern for expats in Peru is the high fees associated with banking services. Some banks may charge high fees for international transactions, so it is important to compare fees before choosing a bank.

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Opening a Bank Account as an Expat

Opening a bank account in Peru is a straightforward process and can be done in a few easy steps:

  1. Choose a bank – research and compare different banks to find one that meets your needs.
  2. Gather the required documents – you’ll typically need a passport, proof of residence, and proof of income.
  3. Visit the bank in person – bring your documents and visit a branch in person to complete the account opening process.
  4. Fill out the account opening forms and agree to the bank’s terms and conditions.
  5. Make an initial deposit into your new account.

Note that some banks may require additional documents or information, depending on the type of account you are opening. It is best to check with the bank in advance to see what is required.

In conclusion, banking in Peru is a relatively straightforward process, with several options available to expats. By doing your research and choosing a bank that suits your needs, you can easily manage your finances while living in Peru.