How Chilean exporters receive USD from US buyers
Chilean exporters receive USD from US buyers by SWIFT wire into an account at a Chilean bank, or into a US dollar account in their own name in the United States that buyers pay by ACH or Fedwire. Since 1 January 2026, the Banco Central de Chile's new Compendium of Foreign Exchange Regulations lists the operations that must pass through the Formal Exchange Market, and it has no specific provision on export proceeds. This guide covers those rules, the RUT, invoice details, published fees, cut-offs and holidays.
- Chile runs a regime of exchange registration in place since September 1999, under which anyone may freely carry out international exchange operations within the limits set by the Banco Central de Chile.
- A new Compendium of Foreign Exchange Regulations took effect on 1 January 2026 under Central Bank Agreement 2617-03-240125, with two chapters and reporting through the SICAM system.
- Under the new Compendium, only listed operations must go through the Formal Exchange Market and be reported: asset and liability operations with abroad, and certain derivatives; the Agreement has no specific provision on export proceeds.
- For companies that are not institutional investors, the Compendium's rules on assets and liabilities abroad apply only to operations of US$10,000 or more.
- The RUT (Rol Único Tributario) is Chile's tax identification number, which legal persons obtain through the SII, Chile's tax authority.
- BancoEstado's SWIFT code is BECHCLRM, and a sender must provide the beneficiary's name, account number, address and telephone.
How a US buyer pays a Chilean exporter
A US buyer can pay a Chilean exporter in US dollars by bank transfer to one of two places: an account at a Chilean bank, or a US dollar account in the exporter's own name in the United States.
SWIFT is the messaging network banks use to send payment instructions across borders, and a SWIFT code (BIC) is the 8 or 11 character code that identifies one bank on it. Fedwire is the US central bank's same-day system for dollar transfers between US banks, and ACH is the US batch system for low-cost domestic transfers. A US buyer can use Fedwire or ACH only when the receiving account is in the United States.
| Route | How the money moves | What to check |
|---|---|---|
| SWIFT wire to a Chilean bank | The buyer's US bank sends an international payment order, usually through a correspondent bank (a bank that holds dollar accounts for the Chilean bank), to your account in Chile. | Whether your bank credits dollars to a dollar account or converts to pesos, and its incoming fee. |
| US dollar account in your company's name | The buyer pays US account details by ACH or Fedwire, as a domestic US payment. You move the dollars to Chile when you choose. | How Chile's rules on assets held abroad apply to your balances. |
From invoice to credited dollars, step by step
- Agree in the sales contract that the price and payment are in US dollars, the payment terms and who pays bank fees.
- Get your bank's written instructions for incoming international payment orders, or the US account details in your company's name.
- Put those details, the amount, the due date and the invoice number on the invoice. Show one receiving route only.
- Ask the buyer for the payment confirmation on the day they pay; for a SWIFT wire it carries the reference used to trace the payment.
- Check the amount credited against the invoice and, if it is short, find which bank deducted a fee.
- File the payment with the shipment documents for your bank, your accountant and the SII, Chile's tax authority.
Banco Central de Chile foreign exchange rules for exporters
Chile's foreign exchange rules are set by the Banco Central de Chile (BCCh) in the Compendio de Normas de Cambios Internacionales (CNCI, the Compendium of Foreign Exchange Regulations). The Central Bank describes the framework as a regime of "anotación cambiaria" (exchange registration) in place since September 1999, under which anyone may freely carry out international exchange operations, subject to the limits the Bank sets. The exchange restrictions in Articles 49 and 50 of the Bank's Organic Constitutional Law have not been applied since 19 April 2001.
A new Compendium from 1 January 2026
The Central Bank's Board approved a new CNCI by Agreement 2617-03-240125, in force from 1 January 2026, after a trial period that began in January 2025. The new Compendium has two chapters: Chapter I on exchange policy and the Mercado Cambiario Formal (MCF, the Formal Exchange Market, meaning the banks and other entities authorized to deal in foreign currency and report to the Central Bank), and Chapter II on SICAM, the Central Bank's foreign exchange information system.
Older guides often say that Chilean export proceeds over US$10,000 must pass through the Formal Exchange Market and be reported under a dedicated exports chapter. That describes the previous Compendium. Under the new one, only the operations on the following list must be carried out through the MCF and reported by the parties involved:
| Operations that must go through the MCF and be reported (CNCI from 2026) | Who it concerns |
|---|---|
| Asset and liability operations with abroad by banks and custodians in Chile | Banks and custodians |
| Asset and liability operations with abroad by individuals and companies that are not institutional investors | Most companies, including exporters, when they hold assets or take on obligations abroad |
| Derivatives with persons abroad, and derivatives in Chile with MCF entities on foreign underlyings | Companies that hedge with derivatives |
Source: Banco Central de Chile, Agreement 2617-03-240125, Chapter I, Section V, as published on 21 October 2026.
The Agreement states that operations not on this list do not need to be channeled through the MCF or reported, although they may be voluntarily. The Agreement contains no specific provision on export proceeds.
What this means for an exporter
- Selling dollars for pesos. When you sell dollars to your bank, the bank formalizes the purchase and reports it to the Central Bank, because purchases, sales and transfers of foreign currency by MCF entities must be reported. The Central Bank's explanatory note on the new Compendium shows export proceeds classified under their own code (300101, FOB value).
- Keeping dollars in an account abroad. A balance in a US account is an asset abroad. For companies that are not institutional investors, the Chapter II rules apply only to operations of US$10,000 or more. Periodic reports are required when monthly gross changes in assets or liabilities abroad reach US$50,000,000, or when balances reach US$10,000,000 at any time in the period. Operations made with funds already held abroad are reported directly to the Central Bank.
- Check your own case. Ask your bank or adviser how these thresholds apply to your volumes before you open an account abroad.
The RUT and the company details a bank needs
The RUT (Rol Único Tributario) is Chile's tax identification number, registered with the Servicio de Impuestos Internos (SII), Chile's tax authority. Legal persons such as limited liability companies, closed corporations and SpAs obtain it through the SII's website or offices.
Keep the RUT ready for your bank's onboarding and for any supplier form a US buyer asks you to complete, and give it exactly as registered with the SII. The payment itself needs the details below.
| Item | Who uses it | Where it appears |
|---|---|---|
| RUT | Your Chilean bank and the SII | Account opening and tax filings |
| Legal name and address | The buyer's bank and every bank in the chain | Beneficiary fields of the payment |
| SWIFT code of your bank | The buyer's bank | Beneficiary bank field |
| Account number | Your bank | Beneficiary account field |
| Invoice number | Your accounts team | Payment reference |
Source: ChileAtiende, Inicio de actividades e inscripción de RUT, as published on 21 October 2026.
Account details to put on the invoice
Ask your bank for its written instructions for incoming international payment orders and copy them exactly. BancoEstado's published instructions show the information a sender abroad needs:
| Field | What BancoEstado asks the sender to provide |
|---|---|
| Beneficiary bank SWIFT code | BECHCLRM |
| Beneficiary name | Full name of the account holder |
| Account number | The BancoEstado account number |
| Beneficiary address and telephone | Address and telephone of the account holder |
| Origin of funds | Evidence of the origin of funds for amounts over US$10,000, as required by the sending bank |
Source: ChileAtiende, information provided by BancoEstado on receiving foreign currency payment orders from abroad, last updated 17 March 2026, as published on 21 October 2026.
Two more items prevent most problems:
- Charges instruction. On a SWIFT payment, OUR means the sender pays all fees, SHA means each side pays its own bank, and BEN means the receiver pays all fees, deducted from the amount. Banco de Chile notes that choosing OUR "no garantiza" that the beneficiary's bank will not make a deduction, so agree with the buyer who covers any shortfall.
- Account currency. If you hold a US dollar account at your Chilean bank, give its details. A payment that reaches a peso account is converted by the bank.
Source: Banco de Chile, ¿Qué son los gastos al exterior?, as published on 21 October 2026.
If you use a US dollar account in your company's name in the United States, the invoice shows an ABA routing number (the nine-digit code that identifies a US bank for ACH and Fedwire) and an account number instead. For the buyer, that is a domestic payment with no correspondent banks.
Arrival times, cut-offs and holidays
A US buyer's payment runs on the US banking day at the start and the Chilean banking day at the end. BancoEstado states that funds are available in the time frames given by the sending bank, so the sending side matters most.
| Step | Published hours or timing | Source |
|---|---|---|
| Fedwire (US bank to US bank) | Business day from 9:00 p.m. ET on the preceding calendar day to 7:00 p.m. ET, Monday to Friday except Federal Reserve holidays; transfers for a bank's customer must be initiated by 6:45 p.m. ET | Federal Reserve Board |
| Transfers are final | Fedwire transfers are immediate, final and irrevocable once processed | Federal Reserve Board |
| SWIFT payment order to Chile | Available in the time frames reported by the sending bank | BancoEstado, via ChileAtiende |
Sources: Federal Reserve Board, Fedwire Funds Services; ChileAtiende; as published on 21 October 2026.
Ask the buyer to send early in the US day, on a day that is a business day in both countries, and to share the payment confirmation.
Holidays
| Date | Country | Holiday |
|---|---|---|
| Sat 31 October 2026 | Chile | Día de las Iglesias Evangélicas y Protestantes |
| Sun 1 November 2026 | Chile | Día de Todos los Santos |
| Wed 11 November 2026 | United States | Veterans Day (Fedwire closed) |
| Thu 26 November 2026 | United States | Thanksgiving Day (Fedwire closed) |
| Tue 8 December 2026 | Chile | Inmaculada Concepción |
| Fri 25 December 2026 | Both | Christmas Day |
| Fri 1 January 2027 | United States | New Year's Day (Fedwire closed) |
| Mon 18 January and Mon 15 February 2027 | United States | Martin Luther King Jr. Day; Washington's Birthday |
| Mon 31 May and Mon 5 July 2027 | United States | Memorial Day; Independence Day, observed |
| Mon 6 September and Mon 11 October 2027 | United States | Labor Day; Columbus Day |
| Thu 11 November and Thu 25 November 2027 | United States | Veterans Day; Thanksgiving Day |
Sources: Chilevisión, Feriados 2026 en Chile; Federal Reserve Financial Services, Holiday Schedules; as published on 21 October 2026.
Juneteenth (19 June) and Christmas (25 December) fall on a Saturday in 2027, and the Federal Reserve says it is open on the preceding Friday in that case. Chile's 2027 holiday calendar should be confirmed with your bank before you set due dates.
Fees as published
Receiving a wire from the United States can involve the buyer's bank fee, correspondent bank fees, your Chilean bank's incoming fee and, if dollars are converted, the exchange rate margin. Few Chilean banks publish their incoming fee for companies in a form that can be read on the web, so request your bank's current schedule in writing.
| Provider | Published fee for receiving from abroad | Notes |
|---|---|---|
| Banco Internacional (micro and small business tariff manual, code 1.6) | Payment orders sent or received, US$0 to US$10,000: US$25 plus IVA, plus US$10 SWIFT | IVA is Chile's value added tax. The manual states that foreign trade fees are subject to change |
| BancoEstado | Not stated; the sender is told to check costs with the correspondent bank | Receiving accounts include CuentaRUT, current account, electronic checkbook and savings account |
| Payoneer | Receiving into an account in a currency that is not your local currency: 1% (minimum US$1.00) | Withdrawal to a bank account in a non-local currency with conversion: 1.2% to 4%; annual fee US$29.95 if less than US$6,000 is received in 12 months |
| Wise Business | Not shown on Wise's Chile business pricing page on 21 October 2026 | Wise's help center lists Chile among the countries where customers can hold money with Wise |
Sources: Banco Internacional tariff manual, ChileAtiende (BancoEstado), Payoneer fees and Wise help center, as published on 21 October 2026. Airwallex's published regional availability table listed Chile for ledger accounts only on that date.
On a large invoice, the exchange rate margin usually costs more than the fixed fees. If you convert to pesos, compare the rate your bank offers with the Central Bank's published reference rate, the dólar observado, on the same day.
Helm's charges are agreed with your account manager; speak to the team.
Documents a Chilean exporter should keep ready
Banks reasonably verify the documents behind foreign exchange operations; the Central Bank's explanatory note on the new Compendium states that MCF entities must check the documentation. One file per shipment lets you answer a query the same day.
| Document | What it shows |
|---|---|
| Commercial invoice | Buyer, amount in US dollars, payment terms and the invoice number quoted on the payment |
| Customs export declaration | The goods, value and shipment, as processed through your customs agent |
| Transport document | Bill of lading or air waybill, with the shipment date |
| Sales contract or purchase order | Agreed currency, price, Incoterm and payment terms |
| RUT and company documents | Identify the company to the bank |
| Payment confirmation from the buyer | The SWIFT reference used to trace a payment |
| Statements of any account abroad | Support Central Bank reporting of assets abroad where thresholds apply |
Sources: Banco Central de Chile, Minuta explicativa on the new CNCI and Agreement 2617-03-240125, as published on 21 October 2026.
An Incoterm is the standard trade term, such as FOB or CIF, that sets who pays freight and insurance and where risk passes to the buyer. It also decides which value appears in the export records.
Where a US dollar account in your name fits
An exporter that sells to many US buyers can make paying easy for them by giving US account details: the buyer then pays by ACH or Fedwire, as a domestic transfer, with no correspondent banks deducting fees on the way. The exporter decides when to bring the dollars to Chile and when to convert, while following the Central Bank's rules on assets abroad described above.
Helm provides USD account details in your company's own name, with a routing and account number that receive ACH, Fedwire and SWIFT payments. Collections from buyers abroad can be held in US dollars or converted, and USDC and USDT can be received and converted to US dollars inside the account. Each client has a named account manager, and review questions are answered in writing within one business day. Helm is a financial technology company, not a bank; accounts are held with regulated partner institutions.
For the US side of the payment, read SWIFT vs ACH vs Fedwire. If your group also buys from Chile, see how to pay suppliers in Chile, and for a neighboring corridor, receiving USD in Peru.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Do Chilean exporters have to report export proceeds to the Central Bank?
Under the Compendium of Foreign Exchange Regulations in force since 1 January 2026, only listed operations must go through the Formal Exchange Market and be reported, mainly asset and liability operations with abroad and certain derivatives. The Agreement that approved it has no specific provision on export proceeds. When you sell dollars to your bank, the bank reports that purchase.
Is there a US$10,000 threshold in Chile's foreign exchange rules?
Yes, for companies that are not institutional investors, the rules on asset and liability operations with abroad apply only to operations of US$10,000 or more. Periodic reports apply when monthly gross flows reach US$50,000,000 or balances reach US$10,000,000.
Can a Chilean company keep export dollars in an account abroad?
Chile's regime allows anyone to carry out international exchange operations freely, within the limits set by the Central Bank. A balance abroad is an asset abroad, so check with your bank or adviser how the Compendium's US$10,000 operation threshold and periodic reporting thresholds apply to you.
What is the Formal Exchange Market in Chile?
The Mercado Cambiario Formal is made up of the banks and other entities authorized to deal in foreign currency and report operations to the Banco Central de Chile. Operations listed in the Compendium must be carried out through it.
What is a RUT in Chile?
The RUT (Rol Único Tributario) is Chile's tax identification number. Companies such as limited liability companies, closed corporations and SpAs obtain it through the SII, Chile's tax authority, online or at its offices.
What bank details does a US buyer need to pay a Chilean company?
The buyer needs your bank's SWIFT code, your company's full legal name, account number, address and telephone, plus the invoice number as a reference. BancoEstado, for example, publishes its SWIFT code as BECHCLRM.
Does choosing OUR guarantee the full amount arrives in Chile?
Not always. Banco de Chile states that the OUR option does not guarantee that the beneficiary's bank will make no deduction. Agree with the buyer who covers any shortfall.
How much does a Chilean bank charge to receive a wire?
Banco Internacional's tariff manual for micro and small businesses lists US$25 plus IVA, plus US$10 SWIFT, for payment orders of up to US$10,000. Other banks provide their schedules on request, and correspondent fees and the exchange rate margin are separate.
Can Chilean companies use Wise Business to receive USD?
Wise's help center lists Chile among the countries where customers can hold money with Wise. Wise did not show business fees for Chile on its pricing page on 21 October 2026, so confirm eligibility and fees with Wise before you invoice.
Which holidays delay a USD payment to Chile?
Chilean public holidays, such as 8 December, and US Federal Reserve holidays, such as Thanksgiving on 26 November 2026. Fedwire does not operate on Federal Reserve holidays.
References
- Banco Central de Chile: Regulación cambiaria
- Banco Central de Chile: Compendio de Normas de Cambios Internacionales, a contar de 2026
- Banco Central de Chile: Acuerdo 2617-03-240125 (new Compendium of Foreign Exchange Regulations)
- Banco Central de Chile: Minuta explicativa, nuevo Compendio de Normas de Cambios Internacionales
- ChileAtiende: Inicio de actividades e inscripción de RUT
- ChileAtiende: Envío de moneda extranjera hacia Chile desde el exterior a través de órdenes de pago (BancoEstado)
- Board of Governors of the Federal Reserve System: Fedwire Funds Services
- Federal Reserve Financial Services: Holiday Schedules
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.