Opening A Bank Account

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tiagoabner
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Re: Opening A Bank Account

Post by tiagoabner » Mon Sep 21, 2020 10:14 am

Space Cat wrote:
Mon Sep 21, 2020 10:01 am
tiagoabner wrote:
Sat Jul 11, 2020 10:03 pm
Did anyone try to open an account after the pandemic began? I've started to issue "boletas de honorarios" recently, but since my income is higher than USD $2,350, I can't pay the goddamn 10.75% retenciones online. Webpay doesn't take my foreign cards, and the amount is over $200.000, so my Cuenta RUT doesn't do the trick. I've been paying them at a nearby Banco de Chile branch, but I would rather avoid that, given that both me and my wife are in the risk group.

From what I've read both here and at the bank websites, Scotiabank may be my best shot. Whatever account I can get works, as long as it has a payment limit higher than Banco Estado's $200.000 limit for Cuenta RUT.
Before getting an account in Scotiabank, I'd been paying 10.75% from CuentaRUT and still pay it from there at times. As I understood, the CL$200,000 limit does not apply to the payments to the Treasury but only card payments and 3rd party transfers.
I'm fairly certain that it wasn't working for me a couple months back, but it's working now. Still, I'll migrate to another bank as soon as I can. Everything about BancoEstado just feels wrong to me.
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Space Cat
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Re: Opening A Bank Account

Post by Space Cat » Mon Sep 21, 2020 10:19 am

Yeah, Scotia isn't a paradise either. The WebPay does not work in Safari (be it Mac or iPhone), they keep spamming me with SMS despite I replied "SALIR" to that more than once, of course also nagging me about insurances like BE. I have to go and pay my credit card by hand and there's like a 7-day window between getting it "facturado" and them starting to charge me %%.

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tiagoabner
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Re: Opening A Bank Account

Post by tiagoabner » Fri Sep 25, 2020 6:26 pm

Space Cat wrote:
Mon Sep 21, 2020 10:19 am
Yeah, Scotia isn't a paradise either. The WebPay does not work in Safari (be it Mac or iPhone), they keep spamming me with SMS despite I replied "SALIR" to that more than once, of course also nagging me about insurances like BE. I have to go and pay my credit card by hand and there's like a 7-day window between getting it "facturado" and them starting to charge me %%.
I would be happy to deal with these issues. I don't use Safari and I use a spam-blocking app. I'm going to get a Cuenta Vista there, so I won't have a credit card to begin with. Although needing to pay at the bank teller sounds weird as heck.

I went to Scotiabank today and I should hear back from the executive in Wednesday. I got her card so I can call her back if/when she goes dark on me. Now that I can do most stuff I need to at BancoEstado, I'm mostly opening an account with Scotiabank so I have it available when I buy a car in a few months.
I'm NOT your lawyer, accountant or financial planner. All information at this post should be considered for your entertainment only. Consult a professional before making a decision regarding whatever topic was mentioned in this post.

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Space Cat
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Re: Opening A Bank Account

Post by Space Cat » Fri Sep 25, 2020 7:37 pm

I would like to not use the credit card at all because they charge 0.1UF monthly when it's being used but:
  • the debit one has CL$ 300,000 transaction limit
  • some services like Sura's "Seguro xKM" or Apple's App Store do not work with debit cards

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tiagoabner
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Re: Opening A Bank Account

Post by tiagoabner » Mon Oct 26, 2020 1:00 pm

tiagoabner wrote:
Wed Sep 16, 2020 10:42 am
tiagoabner wrote:
Mon Sep 07, 2020 1:44 pm
tiagoabner wrote:
Mon Sep 07, 2020 12:21 pm
Given that I had the day pretty much free due to the holiday, I'm giving it a shot today. I'm trying to get a Cuenta Vista at Banco de Chile, and I'll give Santander a shot if things don't work out here.
I went to Banco de Chile today. They have moved opening Cuenta Vistas out of my local branch to a branch in Reñaca. They were also not opening "cuentas de fondos mutuos" there.

I have tried to open a Cuenta FAN through them, which is their online cuenta vista, but their code is shit and the website hangs up midway through the process. The executive then tried it on her and and it also didn't work. So Banco de Chile won't work for me.

I passed by Santander on my way back home, but they were quite packed. So I "noped" out real quick. I may give it a go at Scotiabank in a few days, or at Santander - if I see it with smaller lines. From what I gathered, these are the banks that may be more welcome to opening an account to a foreigner.

I'll continue to report back.
I'm reporting back on this just in case this information ends up being relevant for someone else.

I've tried my local Santander branch and they're not opening Cuenta Vista there. They sent me to open a Santander Life account online. I did that at the bank branch and got an error message at the beginning of the process, and I also got a phone number to call to get support. The first thing that I was informed when I called that phone number (22 320 3050) is that their Cuenta Vista is currently available for those with permanent residency. When I relayed this information to the bank rep at Santander, she shrugged and said the equivalent of "sucks to be you, then". Sooo... that didn't work out.

I also went to Scotiabank a few days back. They informed me that they do have a bank account available for foreigners that have temporary residency only, but they were switching systems as they were switching from a "Scotiabank Digital Extranjeros Nueva" account type to a "ScotiaLight Tradicional" account. I got the number from the bank rep and I'll give it another go next week.

CrediChile claims to have a Cuenta Vista account available at their website and they have directed me to go to a bank branch to open it. There are no branches that I can go to that wouldn't make me cross into a quarantined zone, so I'm going to give them a go only if things don't work out with ScotiaBank.

BCI has a Cuenta Vista account, but when I went to the bank branch, I was given a phone number that I could call to get more info on their Cuenta Vista. As soon as I called that number, I was informed that I needed to go to a bank branch to open a Cuenta Vista. The bank rep shrugged at me and that was it.

BancoEstado supposedly has a Cuenta Vista, but their bank branches have been pretty packed as of late. I'll hit them if I don't manage to get things to work out at ScotiaBank or CrediChile.

[EDIT]

Here's a link to a leaflet from ScotiaBank detailing how the "ScotiaLight Tradicional" account will work out: https://scotiabankfiles.azureedge.net/s ... 1598629279

I have no affiliation with them, and I'm linking this here just in case there's anyone else out there having trouble with trying to find info on their Digital Extranjeros Nueva account, which they retired on early September 2020.
Another small update, in case there's anyone following this topic. Scotiabank has followed up with me asking for more documents (specifically: Form F29 - IVA y Retenciones de Impuestos Mensuales). I've sent them the new documents today and they said I should expect to hear back from them by Friday.

My understanding is that they're "underwriting" me for a Cuenta Corriente (even though I asked to get a Cuenta Vista). My guess is their "ejecutiva"/saleswoman gets a higher commission on Cuenta Corrientes.
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whatever
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Re: Opening A Bank Account

Post by whatever » Mon Oct 26, 2020 9:00 pm

tiagoabner wrote:
Mon Sep 07, 2020 2:23 pm
thisisreallycomplicated wrote:
Mon Sep 07, 2020 1:53 pm
tiagoabner wrote:
Mon Sep 07, 2020 1:35 pm
thisisreallycomplicated wrote:
Mon Sep 07, 2020 12:34 pm
tiagoabner wrote:
Sat Jul 11, 2020 10:03 pm
I've started to issue "boletas de honorarios" recently, but since my income is higher than USD $2,350, I can't pay the goddamn 10.75% retenciones online.
I've never had a problem paying taxes with my cuentaRUT. I pay through , and it sets up the connection to Banco Estado.
It's working for me now, so there's that. BancoEstado has always been very unreliable for me, though.
Their website does have some issues, but so far I haven't seen any accounting problems. All of my pesos have ended up in the right place.
My main issue is with the limits, not with their old interface. It is really annoying that I can't - say - buy a sofa that costs more than $400.000 because I'm not a big boy and BancoEstado feels that it would be irresponsible of me to make such a large purchase online.
One solution is MACH, which has a purchase limit of up to 1.000.000. I use it every month to pay for my college and have had no problems.

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tiagoabner
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Re: Opening A Bank Account

Post by tiagoabner » Mon Oct 26, 2020 9:15 pm

whatever wrote:
Mon Oct 26, 2020 9:00 pm
tiagoabner wrote:
Mon Sep 07, 2020 2:23 pm
thisisreallycomplicated wrote:
Mon Sep 07, 2020 1:53 pm
tiagoabner wrote:
Mon Sep 07, 2020 1:35 pm
thisisreallycomplicated wrote:
Mon Sep 07, 2020 12:34 pm
tiagoabner wrote:
Sat Jul 11, 2020 10:03 pm
I've started to issue "boletas de honorarios" recently, but since my income is higher than USD $2,350, I can't pay the goddamn 10.75% retenciones online.
I've never had a problem paying taxes with my cuentaRUT. I pay through , and it sets up the connection to Banco Estado.
It's working for me now, so there's that. BancoEstado has always been very unreliable for me, though.
Their website does have some issues, but so far I haven't seen any accounting problems. All of my pesos have ended up in the right place.
My main issue is with the limits, not with their old interface. It is really annoying that I can't - say - buy a sofa that costs more than $400.000 because I'm not a big boy and BancoEstado feels that it would be irresponsible of me to make such a large purchase online.
One solution is MACH, which has a purchase limit of up to 1.000.000. I use it every month to pay for my college and have had no problems.
The issue with Mach is that it doesn't accept bank deposits, only transfers, but it doesn't work with Transferwise for whatever reason. It would be an useful workaround if I just needed too have somewhere where I could receive money from a Chilean source, but it doesn't work for what I need.
I'm NOT your lawyer, accountant or financial planner. All information at this post should be considered for your entertainment only. Consult a professional before making a decision regarding whatever topic was mentioned in this post.

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fraggle092
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Re: Opening A Bank Account

Post by fraggle092 » Mon Oct 26, 2020 10:07 pm

tiagoabner wrote:
Mon Oct 26, 2020 1:00 pm
[Another small update, in case there's anyone following this topic. Scotiabank has followed up with me asking for more documents (specifically: Form F29 - IVA y Retenciones de Impuestos Mensuales). I've sent them the new documents today and they said I should expect to hear back from them by Friday.
That's a good sign that you are being taken seriously. One annoying feature of life here is that if they don't want to deal with you, they just fob you off with BS until you go away, they never come out with a straight refusal.
Bienvenidos a Chaqueteo City.

Après moi, le déluge

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tiagoabner
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Re: Opening A Bank Account

Post by tiagoabner » Tue Nov 03, 2020 6:28 pm

fraggle092 wrote:
Mon Oct 26, 2020 10:07 pm
tiagoabner wrote:
Mon Oct 26, 2020 1:00 pm
[Another small update, in case there's anyone following this topic. Scotiabank has followed up with me asking for more documents (specifically: Form F29 - IVA y Retenciones de Impuestos Mensuales). I've sent them the new documents today and they said I should expect to hear back from them by Friday.
That's a good sign that you are being taken seriously. One annoying feature of life here is that if they don't want to deal with you, they just fob you off with BS until you go away, they never come out with a straight refusal.
Just a quick update on this. I heard back from Scotiabank last Friday and it seems that they have sent my paperwork to be reviewed by their Santiago office. They weren't too clear regarding why is that, but from what I gathered, it seems that the big hats there were annoyed with how many mistakes branch employees had been making. So the paperwork for foreigners is now allegedly being processed by more experienced employees there.

I got a call back from them this afternoon and they said that my account was approved, pending copies from my latest boletas. The representative reached back through email a few minutes later with a full breakdown of what they have received already, and a list of the boletas they are missing. I should hear back from her tomorrow morning.

Annoyingly, Scotiabank has renamed their Cuenta Vista to "Cuenta Corriente Scotia Light". The approval email mentioned that I was approved for a Cuenta Corriente, but I have no idea if that was a full account (unlikely) or the one I was applying for. Guess I'll know it tomorrow. I have recently applied for permanent residency (but not received it yet), but I have no idea if that weighs in my favor in any way.
I'm NOT your lawyer, accountant or financial planner. All information at this post should be considered for your entertainment only. Consult a professional before making a decision regarding whatever topic was mentioned in this post.

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