Peru (PE)

Monthly fee: PEN 0 (Cuenta Sueldo — free if salary deposited directly by employer) / PEN 9–15/month for standard accounts; PEN 0 basic Cuenta Simple available with limited features

Requirements: CE (Carnet de Extranjería) required for standard accounts. Passport-only opening inconsistent — some branches allow restricted accounts. Local Peruvian phone number required. BCP is Peru's largest bank by assets, branches, and ATM network.

• + Peru's largest bank — 1,800+ ATMs and 600+ branches including provincial cities and towns
• + Yape QR payment integration — BCP account links to Peru's dominant QR app (14 million+ Yape users)
• + USD and PEN accounts available; Visa and Mastercard debit cards
• + Cuenta Sueldo: fee-free if salary received directly from employer
• + BCP app rated well for transfers, bill payments, and real-time card management
• + Best ATM coverage including supermarkets (Wong, Metro), petrol stations (Primax), and malls

• - CE required for full account — passport-only opening limited and inconsistent by branch
• - Spanish-only service — no English support at branches
• - Branch queues can be very long — expect 30–60 minutes at peak times; use app and ATMs instead
• - International SWIFT transfer fees: PEN 50–150 per outbound wire — use Wise for regular remittances

Monthly fee: PEN 0 (Cuenta Independiente — fee-free if digitally managed) / PEN 8–20/month for packaged accounts

Requirements: CE required for standard accounts. Local Peruvian phone number and email. Proof of address. BBVA Peru is the Peruvian subsidiary of BBVA (Spain) — one of Peru's top three banks by assets.

• + Highly rated Banca Móvil BBVA app — one of the best digital banking apps in Peru
• + Plin QR integration — BBVA connects to Plin (interoperable with Interbank and Scotiabank)
• + USD and PEN accounts; Visa and Mastercard credit and debit cards
• + Good Lima branch coverage including San Isidro, Miraflores, and Surco financial districts
• + International brand — familiar to European expats with existing BBVA relationships
• + Partially digital account opening process available for CE holders

• - CE required — passport-only opening generally not accepted
• - Spanish-only service — no English support at branches
• - International wire fees: PEN 60–180 per outbound SWIFT transfer
• - Fewer branches than BCP in provincial cities outside Lima

Monthly fee: PEN 0 (Cuenta Interbank Libre — fee-free if digitally managed) / PEN 10–18/month for full-feature accounts

Requirements: CE required for standard accounts. Local phone number and Peruvian address. Interbank is Peru's third-largest bank — known for branches inside Wong and Metro supermarkets (Supermercados Peruanos network).

• + Interbank branches inside Wong/Metro supermarkets — most convenient locations for Lima residents
• + Plin QR integration — interoperable with BBVA and Scotiabank Plin users
• + Good digital banking: Interbank app with instant Plin transfers and card management
• + USD and PEN accounts available
• + Extended hours — supermarket branches open on weekends and Sundays
• + Cuenta Interbank Libre: fee-free with digital account management

• - CE required for account opening
• - Spanish-only service — no English support
• - Fewer branches than BCP in provincial cities outside Lima
• - International SWIFT transfer fees similar to BCP — use Wise for regular international remittances

Monthly fee: PEN 0–15/month depending on account type and whether salary is deposited directly

Requirements: CE required for standard accounts. Passport-only possible for some nationalities — confirm at branch. Local phone number and Peruvian address. Scotiabank Peru is a subsidiary of Scotiabank (Canada).

• + Only major international bank with English-speaking advisors available in Peru
• + Plin participation — Scotiabank connects to the Plin QR payment network
• + International wire transfer experience — SWIFT to Canada and North America well-established
• + USD and PEN accounts; Visa and Mastercard credit and debit cards
• + Best for corporate employees posted to Peru by multinational employers
• + ScotiaConnect online business banking for company account holders

• - Smaller branch and ATM network than BCP or Interbank — gaps outside Lima
• - English support inconsistent at branch level — head office advisors speak English, not all branch staff
• - Monthly fees apply unless qualifying salary or minimum balance maintained
• - International transfer fees: USD 20–40 per outbound SWIFT wire

Monthly fee: Free account; small per-transfer fees (typically 0.5–2.5% depending on currency corridor)

Requirements: No CE or Peruvian address required — open before arriving. Home-country passport or ID verified online.

• + Open immediately without CE — usable from before arrival while waiting for residency documents
• + Best exchange rates for international transfers to and from Peru — significantly cheaper than SWIFT fees at Peruvian banks
• + Multi-currency account: hold USD, EUR, GBP, PEN, and 40+ currencies
• + Receive funds from abroad while local bank account application is being processed
• + Wise card not issued to Peru residents — transfers and multi-currency account available

• - Not a Peruvian bank — cannot receive PEN salary from Peruvian employers or link to Yape/Plin directly
• - No Peruvian banking relationship for credit, loans, or mortgage products
• - Cannot substitute for a local CE-linked account for SBS-regulated financial obligations
• - PEN corridor fees and routing subject to Wise's current availability — verify at wise.com