Permanent residency & deposit

If you hold a Bachelor's degree you wont need to deposit the 5k usd into an account IF you have an invitation from local company to be hired for work. This is rather difficult to get since the migration office looks up at the company's profile, taxes, list of employees with social health and retirement insurance.
The easiest way to go is by making a deposit in a local bank (it can be any bank, not necessarily the Banco de Fomento) and all you need is a copy of the same documents you'll present to apply for residency.
It does not have to be an account, it's more like you hand them your money and they give you a certificate for it that is equal as cash (you need to be very careful about this) and leave a certified copy with migrations, not the original. Once your application is approved you can withdraw your money again.

Dear LoreLaterra,
Thanks for info.
Kindly also mentioned which is most reliable bank?
Thanks again

I would recommend staying away from Interfisa, a financial institution who is having some problems right now.  Lots of expats are a bit upset as they have stopped accepting or doing wire transfers of money.     A regional bank, such as Itau, would be a good bet as it is in multiple countries, well established and we haven't heard any negative reports about it.   Based on this we've used it for over 2 years and been very happy with it.

You are correct.  Ever since Interfisa became a bank it has been a pain to deal with. Many of my clients have an account with them and due to the  no international transfer restriction they cannot move funds here. Very inconvenient and annoying.

Itau will open with cedula only. BNF special account only option?

Okay people, just to straight things up, if the 5k deposit is for permanent residency application,  a bank account is not needed. In that case, any other bank is the same as the next one. I'd say, pick a bank that looks good/has good reference among other expats and once you obtain PR switch from the CDA to a checking account.  Any bank, financiera or cooperativa is okay for the 5k deposit.
The only risk that might come from said deposit is if you lose your original document (it has the same value of cash) so please be very careful when submitting your PR application and DO NOT leave the original but a notarized copy instead.
I know this can be very problematic because I know of two cases (one of them in court) where the original is lost and you'll have to start a judicial process to get your money back.  It can take 2+ years before it is over and you'll need to hire a lawyer,  pay fees, etc.
PM me if any of you have more questions.

Regards