Opening a bank account in Bolivia

Hi all,

is it difficult for expats to open a bank account in Bolivia ?

Which documents are required to open a bank account in Bolivia ?

How long does it take to open it ?

Is there any restriction for expats regarding the services (loans for instance)  ?

Which bank would you recommend ?

Thanks in advance for your participation,

Julien

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It is easy to open a bank account in Bolivia.  You do need to have a Carnet de Identidad (See Carnet de Identidad for Extranjeros) and a copy of your passport, as well as proof of your address.  So this means you at least need to have a residency Visa. It normally takes about an hour.

We use Banco Nacional de Bolivia (BNB) but it will all depend on your personal preference.  They have both accounts and ATMs for USD and Bolivianos.

Once you have an account I don't think getting a loan would be a problem and long as you can provide security in Bolivia.

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Hi Altiplano Bolivia:

Thanks for your help ;)

Armand

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all bank loans are at 18 percent interest for ten year max. most loans are for five years.
that should stop you cold and persuade you to consider other options before you concern yourself with formalities.

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ChefJeff wrote:

all bank loans are at 18 percent interest


Wow, sounds like bank interest on deposits is going to be a lot more than the current .1% in the US.

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greed has crippled forward progress. if you dont live here, you should be thankful.

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