Fact-checked 2026-08-07

Banking setup for foreigners

Use this page to work out what kind of account you need, which ID or tax number may be requested, and what evidence a bank will want before it accepts local or cross-border funds.

BCRA sets the framework, but each bank still applies its own onboarding, compliance, and risk controls.

Primary source: BCRA official site
Bank-controlled: onboarding, documents, risk review
Changes often: FX documentation, compliance thresholds, product criteria

Decide the account job first

One bank's answer is not the whole market

What the common account types are for

Account typeUsually used forMain watch-out
ARS savings accountPersonal payments, debit card use, transfers, and routine domestic expensesBank still controls identity, address, and KYC review
Cuenta gratuita universalFree peso savings account for people who have no other bank accountBCRA currently requires a DNI and a declaration that the applicant has no account at another bank
Business current accountCompany collections, payments, payroll, suppliers, and formal operationsExpect company, CUIT, representative, beneficial-owner, and activity evidence
USD or FX-enabled accountHolding, receiving, or transferring foreign currency where permittedExtra criteria, FX rules, tax support, and source-of-funds checks are common

Prepare this before sending funds

Open the account before the urgent transfer

1. Identify

Ask the bank exactly which ID, tax number, and address proof it accepts for your profile.

2. Document

Assemble source-of-funds evidence before receiving salary, investment, sale, loan, or crypto-related proceeds.

3. Test

Confirm limits, fees, product restrictions, and transfer timing with a small operation first.

4. Monitor

Keep contracts, invoices, exchange receipts, and tax filings because later compliance reviews can ask for history.

Read these before applying