RUT and Bank Account in Chile: A Guide for Foreigners

Before choosing a neighborhood, enrolling children in school, or signing a lease, there is one number that unlocks all of it in Chile: the RUT. Without it, a newcomer cannot open an account at a traditional bank, sign a formal employment contract, take out a postpaid phone plan, or, in practice, settle in as a resident. Understanding the difference between a provisional and a definitive RUT — and the real step-by-step process for opening a bank account — avoids the biggest source of friction in the first 60 days in the country.

This article complements our guide to quality of life in Santiago and our comparison of Santiago’s neighborhoods, covering the bureaucratic piece that tends to trip up people who have already chosen where to live.

RUT and ID card are not the same thing

RUT (Rol Único Tributario): a tax identification number issued by Chile’s Internal Revenue Service (SII). It is the functional equivalent of a tax ID number.
Foreigner ID card (cédula de identidad para extranjeros): the physical (or digital) document that proves a foreign national’s identity in Chile, issued by the Civil Registry and Identification Service, containing name, nationality, visa status, and the Rol Único Nacional (RUN).

In practice, almost every everyday transaction — opening a bank account, signing an employment or lease contract, registering activities with the SII, enrolling children in school, buying a vehicle — requires the RUT. The ID card is the document that proves that RUT belongs to you.

Provisional RUT: for those without regularized residency yet

The provisional RUT is designed for foreigners who need tax identification before obtaining definitive residency in Chile — for example, to sign an employment contract, rent a property, buy a vehicle, or set up a company while the immigration process is still underway.

It is free and issued by the Internal Revenue Service (SII).
It can be requested in person at an SII or Civil Registry office, using Form 4415 (Application for Registration in the Tax Roll), presenting a valid passport and the document justifying the need for the RUT (employment contract, job offer, investment document, among others).
Part of the process can also be started online through the SII portal, using Clave Única or a temporary SII password.
It does not replace residency, a visa, or the Chilean ID card — it is simply a tax identification number for a specific purpose.

Disclaimer: be wary of websites that charge for the provisional RUT or ask you to send documents by email or through unofficial apps — the process is free and should be done only through official SII, Civil Registry, or ChileAtiende channels.

Definitive RUT and ID card: the step after residency approval

Once temporary or definitive residency has been approved by Chile’s National Migration Service (SERMIG), the next step is obtaining the foreigner ID card from the Civil Registry and Identification Service, which links the definitive RUT to the person:

Go to the Civil Registry and Identification website, click “First-time application for foreigners,” and book an appointment in your region and municipality of preference.
Attend the appointment with a valid passport, proof of approved residency, and any other documents requested when booking.
After processing, the Chilean ID card is issued, permanently linking the RUT to the individual.

Universities and relocation consultancies recommend booking this appointment as soon as possible after arriving in Chile with approved residency, since the government sets a deadline for regularizing the ID card — it’s worth confirming the current deadline directly with ChileAtiende at the time of your move, as this type of deadline can be updated by regulation.

Opening a bank account in Chile as a foreigner

CuentaRUT (BancoEstado) — the most common entry point

BancoEstado’s CuentaRUT is today the most popular account in the country, with more than 12 million account holders, and is typically the first bank account for people arriving in Chile:

No opening fee or monthly maintenance fee.
Since April 15, 2026, transfers from a CuentaRUT to accounts at other banks became free.
Specific fees still apply to certain operations — for example, withdrawals at other banks’ ATMs and balance inquiries outside the BancoEstado network, plus a fee for card replacement in case of loss, theft, or damage.
Can be opened 100% online through BancoEstado’s website or app, using your RUT and valid ID card — no need to visit a branch for the initial opening.
Only requires legal age and a valid RUT/ID card — no proof of minimum income or length of residency is required.

Other banking options

Bank/product	Requirements profile
BancoEstado — CuentaRUT	The most accessible; only requires a valid foreigner ID card and RUT
MACH (BancoEstado’s digital account)	100% online, no branch needed; ideal for newcomers
Banco Santander	Accepts foreigners with a valid ID card, generally requiring an employment contract
Banco de Chile / Scotiabank	Tend to require a longer employment history (months of seniority)
Checking account (any bank)	Includes a checkbook and access to credit, but depends on credit history built in Chile

The most common path is starting with a CuentaRUT or MACH, building banking history in Chile, and eventually moving to a checking account with credit access at another bank.

Before you have a RUT: alternatives so you’re not left without a payment method

While the definitive RUT isn’t ready yet, digital wallets that accept a foreign passport for registration — without requiring a RUT or minimum income — let you receive payments, make transfers, and pay at businesses in Chile, serving as a bridge until you’re fully banked.

Practical step-by-step to getting banked in Chile

Before traveling (if applicable): consider whether you need a provisional RUT to sign an employment or lease contract remotely.
On arrival, with residency approved: book and attend your Civil Registry appointment to get your ID card and definitive RUT.
With your definitive RUT in hand: open a CuentaRUT with BancoEstado (or MACH) through the app, to have an active account within a few days.
Register your account with the relevant agencies: link your bank details to the SII (for potential tax refunds) and, if applicable, to social benefits with the IPS.
Build banking history over a few months before applying for more robust products, such as a checking account with a checkbook or credit line.

Common mistakes when getting banked as a foreigner in Chile

Confusing the provisional RUT with regularized residency. The provisional RUT resolves a specific transaction but doesn’t replace the residency process with SERMIG.
Trying to open an account at a traditional bank before having a RUT. Without a RUT, traditional Chilean banks won’t open accounts; the alternative during that period is digital wallets that accept a passport.
Assuming every Chilean bank account has the same fees. The CuentaRUT has a specific fee structure, different from a traditional checking account — it’s worth reading the contract before deciding which one to use day-to-day.
Falling for unofficial websites that charge for the provisional RUT. The process is free and done only through SII, Civil Registry, or ChileAtiende channels.

Frequently asked questions

Can a newcomer to Chile open a bank account without a RUT?

Not at traditional banks. The RUT (linked to the foreigner ID card or to the SII’s provisional RUT, depending on the case) is a standard requirement. Before having a RUT, the alternative is digital wallets that accept registration with a foreign passport.

What’s the difference between the provisional RUT and the definitive RUT?

The provisional RUT, issued by the SII, covers specific tax or contractual needs without requiring regularized residency. The definitive RUT is linked to the Chilean ID card, issued by the Civil Registry, and presupposes temporary or definitive residency approved by SERMIG.

Does BancoEstado’s CuentaRUT have maintenance fees?

No. The CuentaRUT charges no opening fee or monthly maintenance fee, though specific fees apply to certain operations, such as withdrawals at other banks’ ATMs.

Can I open a CuentaRUT entirely online?

Yes, as long as you already have a RUT and valid ID card — the process can be completed through BancoEstado’s website or app without needing to visit a branch for the initial opening.

Conclusion

The sequence — provisional RUT (if needed) → approved residency → ID card and definitive RUT → CuentaRUT or MACH — is the most direct path to getting banked in Chile without losing time on out-of-order procedures. Sorting out this bureaucratic foundation before signing a lease or enrolling children in school avoids much of the most common friction of the first few months in the country.

Global & Co. supports people settling in Chile throughout this entire process — from obtaining the RUT and residency to the practical structuring of life in the country.

This content is for informational purposes only and was prepared based on official regulations from the Internal Revenue Service, the Civil Registry and Identification Service, ChileAtiende, and BancoEstado, along with reference sources available as of the publication date. It does not constitute legal, tax, or financial advice. Bank fees, deadlines, and documentation requirements may be updated by public regulation or by each financial institution; always confirm current information directly through official channels before making any decision.