A Complete Guide to Paraguay’s Best Banking Apps: Ueno, Itaú, and Banco Familiar (Plus Account Requirements)

Paraguay has quietly become one of South America’s fastest-modernizing financial hubs. Whether you’re a new resident, long-term expat, digital nomad, or entrepreneur setting up your base in Asunción, having a reliable local banking app is essential.

In this guide, we’ll walk through three of Paraguay’s most popular digital banking options:

• Ueno Bank

• Banco Itaú Paraguay

• Banco Familiar

Of course there is more Banks in Paraguay that have apps but from the authors experience today they are more show then actually functioning (problems with pictures, kyc, not opened even it says its opened etc.)

We’ll also break down requirements for basic accounts, what each app offers, and which one is best depending on your lifestyle.

1. Ueno Bank – Paraguay’s Fully Digital Bank

Ueno is Paraguay’s first true digital-only bank, designed for people who want to manage absolutely everything from their phone. Think: fast onboarding, no branches, no paperwork, no maintenance fees.

What Makes Ueno Stand Out

• Open an account directly from the app

• No monthly maintenance fees

• Virtual international Mastercard

• PYG Account

• Instant transfers and QR payments

• Slick, ultra-modern interface

Ueno is ideal if you prefer a financial experience similar to Revolut, N26, or Nubank — but locally tailored for Paraguay. They are the first to implement new features but also the first to crash.

Requirements for a Ueno Account

• Valid Paraguayan ID (cedula)

• Paraguayan phone number

• Basic KYC selfie verification

• Usually no minimum deposit required

Because Ueno is designed around digital onboarding, it’s one of the easiest banks for new residents to start with.

2. Banco Itaú Paraguay – A Major Traditional Bank With a Strong App

Itaú is one of the biggest banking institutions in Latin America, and its Paraguayan app reflects that scale. While not digital-only, Itaú combines mobile convenience with all the benefits of a full-service bank.

Why Itaú Is a Popular Choice

• Full-service features (loans, credit cards, investments)

• Highly stable mobile app

• Excellent fraud prevention and security tools

• Large ATM and branch network

• Good for people who need proof of banking history

The app includes QR payments, fast transfers, credit card management, service payments, and real-time notifications.

Requirements for an Itaú Basic Account

Depending on the account type, requirements may include:

• Valid ID (cedula for residents, passport for foreigners)

• Proof of income (for certain accounts)

• Proof of address

• Minimum opening deposit (varies)

Itaú is slightly more formal than Ueno but offers the most robust long-term banking ecosystem.

3. Banco Familiar – A Local Favorite With Strong Digital Features

Banco Familiar is one of Paraguay’s most locally trusted banks. Their app offers a smooth blend of traditional banking with modern digital tools.

Highlights of Banco Familiar

• Digital account opening via the app

• PYG Account

• Good customer service for expats/residents

• Simple savings accounts

• Strong day-to-day functionality

Banco Familiar is especially popular among residents who want a straightforward bank without the complexity of a large corporate institution.

Requirements for a Basic Banco Familiar Account

For a standard savings account (Caja de Ahorro):

• Valid ID (cedula)

• Minimum opening deposit (varies; often around Gs. 200,000)

• Basic KYC

• Local phone number

More advanced accounts (like checking accounts) may require proof of income or higher minimum balances.

Hint Banco Familiar gives you a bank statement with adress.

Account Requirements Overview (At a Glance)

BankID Required

Residency Needed?

Minimum Deposit

Difficulty Level

UenoCedulaYes, typically None Easy

ItaúCedula or Passport Usually Yes Varies Medium

Banco Familiar Cedula Yes~200,000 PYG Easy/Medium

Which Bank App Should You Choose?

Choose Ueno if…

• You want fully digital banking

• You prefer no fees and simple onboarding

• You rely heavily on mobile banking

• You’re a digital nomad or tech-savvy user

Choose Itaú if…

• You need a “big bank” for credibility

• You want future access to loans or credit cards

• You prefer having a branch network available

Choose Banco Familiar if…

• You want a balanced mix of tech + tradition

• You need a straightforward savings account

• You want a bank that’s very friendly toward everyday residents

Final Thoughts: Banking in Paraguay Is Easier Than Ever

Paraguay’s digital banking landscape has evolved quickly. Whether you choose Ueno’s sleek digital ecosystem, Itaú’s predictable reliability, or Banco Familiar’s accessible everyday banking, you're likely to find the process surprisingly fast compared to other countries in the region.

If you're a newcomer or planning to establish residency in Paraguay, choosing the right banking app early on will save you time and give you immediate financial mobility for:

• Paying rent

• Receiving income

• Managing utility bills

• Making QR payments

• Building financial history

And the good news is that all three banks are expat-friendly—especially once you have your Paraguayan cedula.