Ueno Bank: The Easiest Digital Bank for Expats in Paraguay
What is Ueno Bank?
Ueno Bank is Paraguay's first 100% digital bank, launched to the public on February 28, 2022. It's part of the Vázquez Group, which has over 76 years of experience in the country. Since December 2021, it has built the largest customer base of any financial institution in the country, with more than 2 million registered users as of October 2024.
For expats, Ueno Bank is undoubtedly the easiest and most convenient option to open a bank account and get a card in Paraguay.
Why Ueno Bank is Ideal for Expats
Ultra-Simplified Opening Process
No paperwork: you only need to have your Paraguayan ID card at hand and you can open your account in a matter of minutes. The entire process is done through the app and consists of: downloading the application, creating an account with email and phone, confirming with SMS code, creating a password, validating identity with video-selfie and ID photos, and entering personal data.
Instant Card with No Costs
You get an international virtual debit card for your purchases on websites in Paraguay or worldwide. With 0 issuance costs and 0 annual fee costs. You activate it in 2 minutes and use it in Paraguay and the rest of the world.
First Dual Card in the Country
Ueno Bank offers Paraguay's first dual card: credit and debit in a single plastic, with 0 costs and no fine print: no issuance costs, no annual fee costs.
Requirements to Open an Account
Main Requirement
- Paraguayan identity card: This is the only document needed to open the account
Verification Process
During registration you must:
- Take a video-selfie to validate your identity
- Take photos of the front and back of your ID card
- Enter personal data: address, occupation, and declare if you are a politically exposed person
Important Note: For non-residents, having a Paraguayan ID card is the basic requirement of every bank in Paraguay. Without being a resident, your options are very limited, although some banks allow opening an account only with the receipt of your residency application.
Services and Benefits
Savings Account with No Costs
Your Ueno Bank account has no opening or maintenance costs. You can deposit whatever money you want and transfer for free to other accounts.
QR Payments and Transfers
You open your app, scan the QR code and pay with your account money. No cash and safer. No costs, no difficulties.
Virtual Debit Card
You enjoy a virtual debit card to buy and pay for subscriptions on sites in Paraguay and worldwide.
24/7 Customer Service
Ueno Bank offers a unique service model in Latin America, with human and technological attention 24 hours a day, 7 days a week.
Unique Experience Centers
They are throughout Paraguay to simplify your life with innovative and digital solutions, with personalized attention, human warmth and closeness.
Technology and Security
100% Digital
With Ueno Bank you can have your savings account in seconds and use your money to pay for services or make transfers without any commission.
Guaranteed Protection
At Ueno Bank, all your data and transactions are protected. Your money is always taken care of: they have the protection of the Guarantee Fund administered by the Central Bank of Paraguay.
International Compatibility
When you register, you have an international virtual debit card so you can pay for everything from your subscriptions to your online purchases.
Business Services
Ueno Bank for Companies
For companies they offer:
- Account with no opening cost, no average balance to maintain
- 100% digital operations in guaraníes or dollars
- Monthly or annual interest capitalization
- Management from web or app 24 hours a day
Awards and Certifications
Recent Awards
Ueno Bank was awarded by Fintech Americas in the "Business Model Innovators" category and won the Top of Mind 2024 award as number one in the digital banks category.
Integrity Certifications
It is the first and only entity regulated by the Central Bank of Paraguay to have received the Integrity Seal from the National Anti-Corruption Secretariat (SENAC) and the Ministry of Industry and Commerce (MIC). It is also affiliated with the United Nations Global Compact.
Financial Support
Growth and Strength
Ueno Bank became Paraguay's second-largest bank after acquiring Visión Banco. In November 2024, IDB Invest provided a loan of 150,000 million guaraníes (approximately $20 million) to support Ueno's portfolio growth for micro, small and medium enterprises.
Considerations for Expats
Expat User Experience
According to recent expat experiences, the bank works very well for residents with Paraguayan ID cards, although there may be some inconveniences for digital nomads who travel frequently, especially related to changing international phone numbers.
Key Requirements
- Have Paraguayan identity card (essential)
- Active Paraguayan phone number
- Address in Paraguay
Contact Information
- Website: ueno.com.py
- Physical address: Avda. Santa Teresa e/ Av. del Chaco y Herminio Maldonado, Asunción
- Mobile apps: Available on Play Store, App Store and App Gallery
- Swift code: COMAPYPA XXX
- Customer service: 24/7 through the app and digital centers
Conclusion for Expats
Ueno Bank is definitely the easiest and most convenient option for expats looking to open a bank account in Paraguay. Its completely digital process, absence of maintenance costs, immediate international card, and 24/7 service make it the best alternative for foreign residents in the country.
For expats with Paraguayan ID cards, there are no simpler options in the Paraguayan financial market. The bank has revolutionized the traditional banking experience, eliminating the bureaucracy and waiting times that characterize other banks in the country.
Information updated as of June 2025. For more details, consult directly with Ueno Bank or download their mobile application.