USD business account in Chile
A Chilean company can hold US dollars in a dollar current account at a Chilean bank, or in a USD account abroad in its own name, because the Banco Central de Chile states that no exchange restrictions currently apply. What a company must do is route certain operations through the Formal Exchange Market and report them under the new Compendium of Foreign Exchange Regulations, in force since 1 January 2026. This guide covers the options, the rules, the documents and where stablecoins sit under the Fintech Law.
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- Under Banco Central de Chile Agreement 2617-03-240125, international exchange operations may be carried out freely by any person, and the Agreement states that no exchange restrictions currently apply.
- The new Compendium of Foreign Exchange Regulations took full effect on 1 January 2026, reducing the rules from fourteen chapters to two and moving reporting to the SICAM system.
- Certain operations with the rest of the world must be channeled through the Formal Exchange Market and reported to the Banco Central de Chile, either by the company directly or through a Formal Exchange Market entity.
- Banco Santander Chile publishes a monthly cost of $0 for its US dollar current account for companies, with or without a plan, and the account requires a peso current account plan.
- Chile's Fintech Law, Law 21,521 of 4 January 2023, defines crypto assets as digital representations of units of value and includes them in its definition of financial instruments.
- Airwallex does not list Chile among eligible countries for business registration, while Wise lists Chile among countries where customers can hold money.
How a Chilean business can hold and receive US dollars
Chile is one of the more open markets in Latin America for holding foreign currency. The Banco Central de Chile (BCCh) states in Agreement 2617-03-240125 that international exchange operations may be carried out freely by any person, subject to its legal powers to impose limits, and that no exchange restrictions currently apply. A Chilean company can therefore earn, hold and pay out US dollars without being required to convert them to pesos.
A business in Chile has four practical ways to hold and receive US dollars:
- A dollar current account at a Chilean bank. Several Chilean banks offer current accounts in US dollars to companies. A foreign buyer pays by SWIFT, the international network banks use for cross-border payments, identified by an 8 or 11 character bank code.
- A USD account abroad held by the Chilean company. Some international providers open accounts with US routing and account numbers for companies registered outside the United States. Eligibility depends on each provider's country list.
- A US company with its own US bank account. Some exporters form a US entity to contract with US customers. This adds a second company with its own tax filings.
- Stablecoins. USDC and USDT are crypto assets designed to track the US dollar. Chile's Fintech Law brings the firms that provide certain services with them under the Comisión para el Mercado Financiero (CMF), Chile's financial market regulator.
| Option | Account holder | How dollars arrive | Main point to check |
|---|---|---|---|
| Dollar current account at a Chilean bank | The Chilean company | SWIFT wire, or local transfer in dollars | Bank's published fees and whether a peso account plan is required |
| USD account abroad in the company's name | The Chilean company | ACH, Fedwire or SWIFT, depending on the provider | Provider eligibility for Chile; BCCh reporting of assets abroad |
| US company route | A separate US entity | ACH, Fedwire or SWIFT | US formation, Employer Identification Number (EIN) and US tax filings |
| Stablecoins (USDC, USDT) | Company, through a provider | Blockchain transfer | Provider's status under the Fintech Law; not a bank deposit |
Comparison of option types, not a ranking. Sources: Banco Central de Chile Agreement 2617-03-240125; Law 21,521, as published on 29 October 2026.
Banco Central de Chile rules on receiving, holding and paying USD
Chile's exchange rules are set by the BCCh in the Compendio de Normas de Cambios Internacionales (CNCI), its Compendium of Foreign Exchange Regulations. The BCCh Board approved a new Compendium on 25 January 2024, and it took full effect on 1 January 2026. It cut the rules from fourteen chapters to two: Chapter I sets the general exchange policy framework, and Chapter II sets up SICAM, the BCCh's online system for reporting international exchange operations. The BCCh also notes that the exchange restrictions in Articles 49 and 50 of its Organic Law have not applied since 19 April 2001.
Two duties remain. Certain operations must be carried out only through the Formal Exchange Market (Mercado Cambiario Formal, MCF), which is made up of the banks and other entities authorized to deal in foreign currency. And certain operations must be reported to the BCCh. Operations with assets and liabilities abroad by persons who are not institutional investors fall under the reporting rules, and reports can be filed by the company directly or through an MCF entity.
| Activity | What applies | Who acts |
|---|---|---|
| Receiving USD from a foreign buyer | Free to receive and keep in dollars; no requirement to convert to pesos | The receiving bank processes the payment |
| Holding USD in a Chilean bank | Permitted; banks offer dollar current accounts | The bank |
| Holding USD in an account abroad | Permitted; operations with assets abroad fall under the BCCh reporting rules for non-institutional investors | The company, directly or through an MCF entity |
| Foreign loans and other liabilities | Reported under the Compendium's Chapter II rules on foreign liabilities; ask your bank whether the operation must go through the MCF | The company and its MCF bank |
| Paying a supplier abroad in USD | Free to pay; the bank handles the transfer | The sending bank |
Sources: Banco Central de Chile, Agreement 2617-03-240125 and Compendio de Normas de Cambios Internacionales; Cuatrecasas and Carey summaries of the new Compendium. As published on 29 October 2026. Confirm reporting duties for your operations with your bank.
The practical point for a Chilean importer or exporter is that the rules ask for routing and reporting, not conversion. If you hold dollars abroad, ask your bank or adviser which SICAM reports apply to your company, because the obligation can fall on the company itself rather than the bank.
Dollar current accounts at Chilean banks
Chilean banks offer current accounts in US dollars, often called cuentas corrientes en dólares. Most require the company to hold a current account in pesos with the same bank. Banco Santander Chile publishes the terms of its US dollar current account on its website.
| Item | Published term |
|---|---|
| Currency | US dollars |
| Who can open it | Clients with a current account plan, subject to the bank's commercial assessment |
| Monthly cost for companies (Empresas) | $0, with or without a plan |
| Monthly cost for small and medium-sized firms (Pymes) | $0 with the Comercios, Empresas and Clientes Internacionales plans; 0.08 UF with other plans |
| International transfers | Send and receive international transfers online |
| Limitations | No card; cannot pay local utility bills; no ATM withdrawals; dollar cash withdrawals at selected branches |
Source: Banco Santander Chile, Cuenta Corriente en Dólares, as published on 29 October 2026. The page also shows a banner with a monthly cost of 0.8 UF, which differs from the detail; confirm with the bank.
The UF (Unidad de Fomento) is an inflation-indexed unit of account that Chilean banks use to set fees and loan amounts in pesos. Other banks publish their own fees for incoming SWIFT transfers, so ask for the full inbound fee, including what the bank's US correspondent deducts, before you give the details to buyers. A correspondent bank is the US bank that holds dollars for your Chilean bank and passes the payment on.
For the details a US buyer needs on an invoice, including the RUT, Chile's tax identification number issued by the Servicio de Impuestos Internos (SII), see our guide for Chilean exporters receiving USD from US buyers.
Foreign USD accounts: who accepts Chilean companies
A USD account abroad is useful when US buyers prefer to pay by ACH, the low-cost US domestic bank transfer system, rather than by international wire. For a Chilean company, the first question is whether the provider accepts companies registered in Chile. Check the provider's own eligibility page.
| Provider | What its own page says | What it means for a Chilean company |
|---|---|---|
| Airwallex | A business must be registered in a supported country or territory; Chile is not on the list | Not available to a company registered in Chile |
| Wise | Chile is on the list of countries where customers can hold money in a Wise account | Confirm business account features and USD account details with Wise |
Sources: Airwallex Help Centre, Eligible Countries and Territories; Wise Help Centre, where can I open a Wise balance. As published on 29 October 2026.
Some US fintech accounts accept only companies formed in the United States, which leads to the US company route. It suits a business that sells mainly to US customers and wants a US contracting entity. It requires forming the entity in a US state, obtaining an EIN from the Internal Revenue Service (IRS), and identifying the company's beneficial owners to the US bank. It does not replace the Chilean company's own tax and BCCh reporting duties.
Documents banks and providers ask for
Chilean banks identify a company by its RUT and its registration documents. The list below is typical; each bank and provider sets its own.
| Stage | Typical documents |
|---|---|
| Opening a dollar current account at a Chilean bank | RUT; bylaws and registration of the company; certificate of good standing; powers of the legal representatives; identity documents of signatories; information on beneficial owners; existing peso current account with the bank where required |
| Opening a USD account abroad | Company registration documents and bylaws, with translation if asked; RUT; identity documents and proof of address of directors and main owners; description of the business, customers and expected volumes |
| Receiving payment for an export | Commercial invoice; export customs document; transport document such as the bill of lading; sales contract or purchase order |
| Paying a supplier abroad | Supplier invoice; supplier's bank name, SWIFT code and account number; purpose of payment |
Typical checklist; requirements vary by bank and provider. As published on 29 October 2026.
Large payments draw more questions from the sending bank about the origin of funds, so keep the invoice and contract ready for every transfer.
Freelancers and sole traders
The same open rules apply to individuals. A freelancer invoicing foreign clients can hold dollars in a personal US dollar current account at a Chilean bank. Banco Santander Chile, for example, publishes a monthly cost of $0 on certain personal plans and 0.08 UF on others, and requires a current account plan.
Freelancers should check whether a basic account can receive international wires at all before giving its details to a client, and should keep the invoice for each payment for their tax records with the SII. A business that has become a company, such as a sociedad por acciones (SpA), should use a company account in the company's name.
Where stablecoins sit legally in Chile
Chile regulates crypto assets through Law 21,521, known as the Fintech Law, published in the Official Gazette on 4 January 2023. The law defines virtual financial assets or crypto assets as digital representations of units of value, goods or services, excluding money in national or foreign currency. It includes virtual financial assets in its definition of financial instruments.
That definition matters because the law regulates services provided with financial instruments, including custody, order routing, intermediation, alternative trading systems and crowdfunding platforms. Firms that provide these services professionally must register with the CMF, and some services also need prior CMF authorization before they start.
For a company, the practical points are to check the provider's status with the CMF, to treat a stablecoin balance as a crypto asset held with a provider rather than a bank deposit, and to record each receipt against its invoice like any other export collection.
Where a Helm USD account fits
Helm serves companies registered in Chile. A Helm account gives the company USD account details in its own name, with a US routing and account number that receives ACH, Fedwire and SWIFT. Fedwire is the Federal Reserve's same-day system for large payments. A US buyer pays the invoice as it would a domestic supplier, and the company can keep the balance in dollars, convert it, or move it to its Chilean bank.
- Collecting from US buyers by ACH or Fedwire, held in USD or converted.
- Paying suppliers abroad by SWIFT and by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before sending. See our guide on how to pay suppliers in Chile for the buyer's side of the corridor.
- Stablecoins: receive, send and convert USDC and USDT to USD inside the account.
- Trade finance: supplier finance, receivables finance and working capital, arranged case by case.
Each company 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, and accounts are held with regulated partner institutions. Helm agrees pricing with each business in writing before the account opens. A dollar balance held abroad is an asset abroad, so confirm your BCCh reporting duties with your adviser. For a neighboring market, see our guide to a USD business account in Peru.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Can a Chilean company open a US dollar account?
Yes. Chilean banks offer current accounts in US dollars to companies, usually alongside a peso current account. Banco Santander Chile, for example, publishes a monthly cost of $0 for its dollar current account for companies.
Does Chile have exchange controls in 2026?
The Banco Central de Chile states that international exchange operations may be carried out freely by any person and that no exchange restrictions currently apply. Certain operations must still be channeled through the Formal Exchange Market and reported to the central bank.
Do Chilean exporters have to convert dollars to pesos?
No rule requires a Chilean exporter to sell its dollars for pesos. The exporter can keep the proceeds in a dollar account in Chile or abroad, subject to the central bank's reporting rules for operations with the rest of the world.
What changed in Chile's foreign exchange rules in 2026?
A new Compendium of Foreign Exchange Regulations took full effect on 1 January 2026. It reduced the rules from fourteen chapters to two and moved reporting of international exchange operations to the central bank's SICAM system.
What is the Formal Exchange Market in Chile?
The Formal Exchange Market (Mercado Cambiario Formal, MCF) is made up of the banks and other entities authorized to deal in foreign currency. Certain international operations must be carried out only through these entities, which also report them to the Banco Central de Chile.
Can a Chilean company hold USD in an account abroad?
Yes. Holding dollars abroad is permitted, and operations with assets abroad by companies that are not institutional investors fall under the central bank's reporting rules. Reports can be filed by the company directly or through a Formal Exchange Market entity.
Can a Chilean company open an Airwallex or Wise account?
Airwallex states that a business must be registered in a supported country and does not list Chile. Wise lists Chile among the countries where customers can hold money in a Wise account, so confirm the business features with Wise directly.
Are stablecoins legal in Chile?
Chile's Fintech Law, Law 21,521 of 2023, defines crypto assets and includes them among financial instruments. Firms that provide custody, intermediation and other regulated services with them must register with the CMF, and some services need prior authorization.
What is a RUT in Chile?
The RUT (Rol Único Tributario) is Chile's tax identification number, issued by the Servicio de Impuestos Internos. Banks and foreign providers ask for the company's RUT to open an account, and buyers often include it in the payment details.
References
- Banco Central de Chile: Agreement 2617-03-240125, new Compendium of Foreign Exchange Regulations (text on vLex Chile)
- Banco Central de Chile: Compendio de Normas de Cambios Internacionales, from 2026
- Cuatrecasas: New Compendium of Foreign Exchange Regulations of the Banco Central de Chile
- Carey: Banco Central starts trial period for the new SICAM exchange information system
- Banco Santander Chile: Cuenta Corriente en Dólares
- Diario Oficial de la República de Chile: Law 21,521 (Fintech Law), 4 January 2023
- Airwallex Help Centre: Eligible countries and territories
- Wise Help Centre: Where can I open a Wise balance
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.