USD to CLP for business payments
To pay a Chilean supplier in pesos, convert US dollars to Chilean pesos (CLP) and pay the supplier's peso account; to pay in dollars, wire USD to its dollar account. Chile's exchange rules are light for this kind of payment, so the choice comes down to the invoice currency and who should carry the exchange risk. This page covers how the peso is set, the Banco Central de Chile rules, the details to collect, costs and how to choose.
- The Chilean peso is issued by the Banco Central de Chile, which has let the peso float since 1999 and keeps the option to intervene only in exceptional circumstances of excessive volatility.
- The Banco Central de Chile describes its framework as exchange registration (anotación cambiaria), in place since September 1999, under which anyone may freely carry out international exchange operations within the limits it sets.
- Under the Compendium in force from 1 January 2026, operations not on the Banco Central's list need not go through the Formal Exchange Market or be reported, and the Agreement has no specific provision on export proceeds.
- ChileAtiende states that the sending bank may require proof of the origin of funds for transfers of more than US$10,000.
- Banco de Chile notes that choosing OUR charges does not guarantee that the beneficiary's bank will make no deduction.
The Chilean peso and how its rate is set
The Chilean peso (code CLP) is issued by the Banco Central de Chile (BCCh), the central bank. A BCCh presentation of December 2020 states that the bank has let the peso float since 1999, calls that key to an independent monetary policy, and says the bank reserves the option to intervene in exceptional circumstances, when it judges that the exchange rate faces excessive volatility.
The BCCh's exchange regulation page describes the legal 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 BCCh also publishes the dólar observado, the reference exchange rate for the dollar in Chile, under a regulation in its Compendium of International Exchange Rules. If a supplier prices in pesos by reference to the dólar observado, agree in writing which day's rate applies.
| Item | Chile |
|---|---|
| Currency and code | Chilean peso, CLP |
| Issuer | Banco Central de Chile (BCCh) |
| Exchange rate | Floating since 1999; intervention only in exceptional circumstances |
| Legal framework | Exchange registration regime since September 1999; Compendium of International Exchange Rules |
| Reference rate | Dólar observado, published by the BCCh |
| Company tax number | RUT, from the SII |
Sources: BCCh, Lecciones de la última intervención cambiaria; BCCh, regulación cambiaria; BCCh, Compendio; SII. As published on 29 October 2026.
The 2026 exchange rules and what they mean for a payment
The BCCh's Board approved a new Compendium by Agreement 2617-03-240125, in force from 1 January 2026. It 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 BCCh), and Chapter II on the BCCh's foreign exchange information system.
Under the new Compendium, only listed operations must go through the MCF and be reported: assets and liabilities abroad of banks, custodians and of individuals and companies that are not institutional investors, and certain derivatives. The Agreement states that operations not on the list need not be channeled or reported, and it contains no specific provision on export proceeds. When a supplier sells your dollars to its bank, the bank formalizes and reports that purchase as an MCF entity.
- Your side. A foreign buyer files nothing in Chile.
- Large amounts. ChileAtiende tells BancoEstado customers that the sending bank may require proof of the origin of funds for amounts over US$10,000. Keep the invoice and purchase order ready.
- Account currency. A dollar payment that reaches a peso account is converted by the supplier's bank.
Details you need to pay a Chilean supplier
The RUT (Rol Único Tributario) is the number that shows a person or entity is registered as a taxpayer with the SII, Chile's tax authority; every company must obtain one. It appears on the supplier's invoices and bank records, so it is the fixed point to match bank details against. BancoEstado's instructions, published by ChileAtiende, ask senders abroad for the bank's SWIFT code (BECHCLRM), the beneficiary's full name, account number, address and telephone.
| Detail | What to ask for | Why it matters |
|---|---|---|
| Beneficiary name | Full legal name (razón social) | Must match the account holder |
| RUT | Company RUT, as on its invoices | Links the payment to the invoicing company |
| Address and phone | Registered address and a telephone number | BancoEstado lists both for senders |
| Bank and SWIFT code | For example BECHCLRM for BancoEstado | Routes the payment |
| Account number and currency | Account number, and whether it is CLP or USD | Decides whether the bank converts |
Sources: SII, obtaining a RUT; ChileAtiende (BancoEstado). As published on 29 October 2026.
Holidays, including the year-end bank closure question, are covered in our guide on how to pay suppliers in Chile.
What converting USD to CLP costs
The cost is the mid-market rate, the margin added by whoever converts and the payment fee. On a SWIFT wire, intermediary banks can also deduct charges on the way. Banco de Chile notes that choosing OUR, where the sender pays all charges, "no garantiza" that the beneficiary's bank makes no deduction, so agree in the contract who covers any shortfall.
US banks price the wire, not the rate. Chase charges $40 for an online international wire in US dollars and $5 for one in foreign currency, or $0 at $5,000 or more. On a peso wire with a low or zero fee, the cost sits in the exchange rate. Compare the rate you are quoted with the mid-market rate or the dólar observado on the same day.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.
Helm shows the rate, fee and expected arrival before you confirm, and pays by SWIFT or by local rails in the supplier's currency where available, confirmed by your account manager. See Helm pricing.
Pay in USD or in CLP?
| Question | USD invoice | CLP invoice |
|---|---|---|
| Who converts | The supplier's bank, if paid into a peso account | You or your payment provider |
| Who carries exchange risk | The supplier | You |
| What to ask the supplier | Details of a USD account, if it has one | Details of the CLP account and the exact peso amount |
| Reference rate to agree | Not needed | Which day's dólar observado, if the price is indexed |
| Best fit | Exporters with dollar pricing | Suppliers with peso costs and peso price lists |
Sources: BCCh, Compendio de Normas de Cambios Internacionales; ChileAtiende. As published on 29 October 2026.
A supplier that prices in dollars and holds a dollar account is simplest to pay by USD wire. A domestic manufacturer with a peso price list is better paid in pesos. Chilean companies collecting dollars can read our guide to a USD business account in Chile and the Chile country guide.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Does the Chilean peso float?
Yes. The Banco Central de Chile states that it has let the peso float since 1999 and reserves the option to intervene in exceptional circumstances of excessive volatility.
What is the dólar observado?
It is the reference exchange rate for the US dollar in Chile, published by the Banco Central de Chile under its Compendium of International Exchange Rules. Suppliers that index peso prices to it should state which day's rate applies.
Do I have to report a payment to a Chilean supplier?
No. A foreign buyer files nothing in Chile. Under the Compendium in force from 2026, only listed operations must go through the Formal Exchange Market and be reported, and the supplier's bank reports its own currency purchases.
What is a RUT?
The RUT, Rol Único Tributario, is the number that shows a person or company is registered as a taxpayer with the SII. Every Chilean company has one, and it appears on its invoices.
Will my bank ask questions about a large payment to Chile?
It may. ChileAtiende states that the sending bank may require proof of the origin of funds for transfers of more than US$10,000, so keep the invoice and purchase order ready.
Does OUR guarantee the supplier receives the full amount?
Not always. Banco de Chile notes that OUR does not guarantee the beneficiary's bank will make no deduction, so agree in the contract who covers any shortfall.
References
- Banco Central de Chile: Lecciones de la última intervención cambiaria (23 December 2020)
- Banco Central de Chile: Regulación cambiaria
- Banco Central de Chile: Compendio de Normas de Cambios Internacionales
- Banco Central de Chile: Acuerdo 2617-03-240125 (new Compendium of International Exchange Rules)
- Servicio de Impuestos Internos: Obtaining a RUT
- ChileAtiende: Sending and receiving foreign currency (BancoEstado)
- Banco de Chile: ¿Qué son los gastos al exterior?
- Chase: How Performance Business Checking works (wire fees)
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.