For foreigners and expats living in or relocating to Guatemala, choosing a bank affects daily convenience, ATM access, fees, US-dollar handling and how easily you receive money from abroad. This page covers BAC Credomatic, Banco Industrial (BI) and Banrural, plus other banks, account requirements for foreigners, deposit protection and how to receive money from the US, using what each bank or provider publishes.
In short: Banrural publishes a foreigner account-opening list (read 10 October 2026): a valid passport plus copy, a DPI for resident foreigners or, for non-residents, a mandate with representation and the representative’s DPI, a utility bill no more than three months old and proof of migratory status. Banrural’s Cuenta Rural opens in quetzales or dollars. Deposits are covered by FOPA up to Q20,000 or the equivalent in foreign currency per person (Ley de Bancos, Art. 87). Ask each bank for its current tarifario: no fee figures are listed here. Citibank Guatemala was acquired by Grupo Promerica in 2016.
The top three banks for foreigners
BAC Credomatic
BAC publishes rate disclosures for its deposit accounts: a weighted average of 2.82% on quetzal savings and 1.72% on US-dollar savings at 31 July 2026.
What to ask BAC before opening:
- Its account-opening list for foreigners with your migratory status
- Minimum opening balance and monthly fees from its current tarifario
- Whether it offers a US-dollar account for your profile
- Fees for incoming and outgoing international wires
Best for: Foreigners who confirm with BAC that its account and wire terms fit how they move money.
Banco Industrial (BI)
Western Union, Xoom and Ria each name Banco Industrial among the Guatemalan banks they send money to.
What to ask BI before opening:
- Its foreigner account requirements (BI’s Cuenta Bi Extranjeros page blocked automated reads on 8 October 2026)
- Minimum opening balance and monthly fees from its current tarifario
- Whether it offers a US-dollar account for your profile
Best for: Foreigners who confirm with BI that its branch and ATM locations cover the town where they will live.
Banrural
Banrural says it has more than 3,000 service points across the country.
What Banrural publishes:
- A list of additional account-opening requirements for foreigners (see the documents table below)
- Cuenta Rural, a checking account in quetzales or dollars
- Digital accounts that open 100% online (ask whether that applies to a foreign passport holder)
- Remittance payout: Banrural publishes a list of 30 remittance companies it pays, which does not include Western Union (checked 10 October 2026); Western Union’s Guatemala page names Banrural among the banks it deposits to
Best for: Foreigners who live outside the main cities or who mainly receive remittances, after checking the service point nearest them.
Other notable banks
GyT Continental (Banco G&T Continental)
- Western Union and Ria name Banco G&T Continental (Banco GYT) among the Guatemalan banks they deposit to
- Reports a weighted average of 3.35% on quetzal savings and 2.30% on US-dollar savings (January 2026)
Banco Promerica
- Part of Grupo Promerica, which says it operates in nine countries: Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, Ecuador, the Cayman Islands and the Dominican Republic
- Reports a weighted average of 3.0870% on quetzal savings and 2.4273% on US-dollar savings (31 August 2026)
Citibank Guatemala (now part of Grupo Promerica)
- Grupo Promerica acquired Banco Citibank de Guatemala S.A. and Cititarjetas de Guatemala Limitada in 2016, according to Banco Promerica’s own history page
- Promerica says the purchase included personal and business loans, credit cards, deposit accounts and the branch and service-point network
Fee comparison
Each bank publishes its fees in a tarifario (fee schedule). The fee ranges that used to appear in this section could not be matched to a published tarifario and were removed on 10 October 2026; Banrural’s tarifario page loaded no fee figures as text that day. Before opening an account, ask the bank for its current tarifario and check these lines:
- Monthly maintenance and minimum balance for the account you want
- ATM withdrawals at the bank’s own ATMs, at other banks’ ATMs and abroad
- Incoming and outgoing international wires
- Account closure and replacement debit card
For wire and remittance costs compared provider by provider, see the international wire transfers guide.
Opening an account: required documents
Banrural’s additional requirements for foreigners, read 10 October 2026 (other banks publish their own lists):
| Document | Notes |
|---|---|
| Passport | Valid on the day you apply, plus a photocopy (at least of the first page) |
| DPI for foreign residents | If you are a resident foreigner: DPI (DPI extranjero domiciliado) plus a photocopy |
| Mandate (non-residents) | If you are not a resident: a mandate with representation and the representative’s DPI, both in original plus a simple copy for the file |
| Other migratory categories | A document from the relevant authority or entity showing your legal stay (the list names diplomats, consuls, medical missions, volunteer experts, refugees and asylum applicants, residents in process, athletes and scholarship holders, among others) |
| Proof of address | Copy of a recent utility bill (water, power or residential phone), no more than three months old |
| Migratory status | Documents showing your migratory status |
For tourists (no residency yet):
- At Banrural, a non-resident applies through a representative holding a mandate with representation, per the list above
- Ask other banks directly what they require of a non-resident
For residents:
- Bring your DPI for resident foreigners and a copy, per Banrural’s list
- See the NIT page if a bank asks for your tax ID
Account types compared
Savings (Cuenta de Ahorro)
- Interest: weighted averages on quetzal savings of 2.82% at BAC (31 July 2026), 3.0870% at Banco Promerica (31 August 2026) and 3.35% at G&T Continental (January 2026)
- On US-dollar savings: 1.72% at BAC, 2.4273% at Promerica and 2.30% at G&T Continental, same dates
- The BAC and Promerica disclosures also list minimum and maximum rates; see the CDP vs savings account comparison
Best for: Money you want to keep available while it earns some interest.
Checking (Cuenta Corriente / Monetaria)
- BAC reports a weighted average of 1.54% on quetzal checking deposits and 1.26% on US-dollar checking deposits (31 July 2026); G&T Continental reports 1.64% and 1.42% (January 2026)
- Banrural’s Cuenta Rural is a checking account in quetzales or dollars
Best for: Foreigners with regular bill-pay or commercial activities.
USD account
- Holds US dollars instead of quetzales
- Banrural’s Cuenta Rural can be opened in dollars
- Ask the bank how and at what rate it converts to quetzales
Best for: Anyone with US-dollar income or transfers.
ATM access
Check each bank’s own ATM and branch locator for the town where you will live before you choose. Banrural says it has more than 3,000 service points across the country; ask the other banks for their nearest ATMs.
US ATM cards in Guatemala
Some US cards refund ATM fees abroad:
- Schwab Bank Investor Checking: unlimited ATM fee rebates for cash withdrawals worldwide with the Schwab Bank Visa Platinum Debit Card; the rebates exclude dynamic currency conversion fees, and Schwab says it may modify or discontinue the rebate (schwab.com, read 10 October 2026)
- Fidelity: reimburses ATM fees when the debit card is used as part of a Fidelity Cash Management Account; Fidelity lists reimbursement levels (fidelity.com, read 10 October 2026)
- Decline dynamic currency conversion at the ATM: Fidelity warns that paying in US dollars at a foreign ATM or merchant is typically more expensive
For permanent residents, a Guatemalan account avoids per-withdrawal charges on a US card. Compare your own card’s foreign ATM terms before relying on it.
Wire transfers and remittances
Receiving money from the USA
Providers that name Guatemalan banks as payout points:
- Western Union: its Guatemala page names Banrural, Banco Industrial and Banco GYT for bank deposits
- Xoom (PayPal): names Banrural and Banco Industrial for deposit and cash pickup; Paypal Inc (Xoom) is on Banrural’s remitter list
- Ria: names Banco Industrial, Banrural and Banco G&T Continental for bank deposits; RIA Telecom is on Banrural’s remitter list
- Remitly: Remitly, Inc. is on Banrural’s list of 30 remittance companies
- Bank-to-bank wire: ask both banks for their outgoing and incoming wire fees
Costs change by amount and day; compare them in the international wire transfers guide and the remittances guide.
Sending money to the USA
- Ask your Guatemalan bank for its outgoing international wire fee from its current tarifario
- Compare against money-transfer services in the international wire transfers guide
Best practices for expat banking
Maintain US bank account too
Don’t close your US accounts when you move. A US account keeps a place for US-dollar income and lets you use a fee-refunding US card (see above) while you set up locally.
Use multiple Guatemalan accounts
FOPA covers up to Q20,000, or the equivalent in foreign currency, per person with deposits in a bank (Ley de Bancos, Art. 87). For larger amounts:
- Keep no more than the cover at any one bank if you want all of it protected
- Hold accounts at different banks
- Keep a US-dollar account at one bank for international transfers
Keep some cash
Keep some cash for places that do not take cards.
Online banking setup early
Set up online banking and the mobile app when you open the account, so you can check statements and transfers without visiting a branch.
Common situations
Foreign retiree opening their first Guatemalan account
Ask the bank for its foreigner requirements, its tarifario and whether it offers a US-dollar account for pension income. Banrural’s Cuenta Rural opens in dollars.
Long-term US visa holder living part-time in Guatemala
Banrural’s list asks non-residents to apply through a representative with a mandate with representation. Keep US accounts as primary and ask each bank what it requires for your status.
Family-receiving-remittances setup
If a US-based family member sends regular remittances, check that the provider pays to the family’s bank: Banrural lists 30 remittance companies it pays, and Western Union, Xoom and Ria name Banco Industrial and Banrural.
Business setup
For a sociedad anónima or business account, ask the bank for its business account-opening list.
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What’s next
If you’re setting up Guatemalan banking:
- Get your NIT — in case the bank asks for your tax ID
- Ask your top-choice bank for its foreigner requirements and tarifario, then visit in person
- Set up online banking and the mobile app
- Ask about a US-dollar account in addition to a quetzal account
For other relevant topics:
- Send money to Guatemala (remittances)
- Real Estate Foreign Buyer Rules — banking implications for property
- Pensionado Visa — residency route for retirees
- Complete Guatemala banking guide — the deep reference: all major banks, ATM networks and cards
- Banking pillar (general guide) — the broader banking overview
Sources
- Ley de Bancos y Grupos Financieros (Decreto 19-2002), Article 87 (Cobertura): jurista.com.gt, read 8 October 2026.
- Banco de Guatemala, El Seguro de Depósitos como parte de la Red de Seguridad del Sistema Financiero (FOPA, August 2026): banguat.gob.gt, read 8 October 2026; FOPA page banguat.gob.gt, read 10 October 2026.
- Banco Promerica, Historia: bancopromerica.com.gt, read 10 October 2026.
- Banrural, Requisitos adicionales (foreigners): banrural.com.gt; Cuentas: banrural.com.gt; Remesadores: banrural.com.gt; Crédito Amigo Consumo (service points): banrural.com.gt; all read 10 October 2026.
- Deposit rate disclosures: BAC (31 July 2026), Banco Promerica (31 August 2026) and G&T Continental (January 2026), read 8 October 2026.
- Western Union, Send money to Guatemala: westernunion.com, read 3 October 2026.
- Xoom, Send money to Guatemala: xoom.com; Ria, Send money to Guatemala: riamoneytransfer.com; both read 3 October 2026.
- Schwab, Checking: schwab.com; Fidelity, ATM/debit card: fidelity.com; both read 10 October 2026.
For complex banking situations or specific recommendations, email stu@livinginguatemala.com.
Frequently Asked Questions
Which is the best bank in Guatemala for foreigners?
It depends on where you live and how money reaches you. Banrural publishes a foreigner account-opening requirement list, says it has more than 3,000 service points nationwide, offers a checking account in quetzales or dollars (Cuenta Rural) and lists 30 remittance companies it pays. Western Union, Xoom and Ria name Banco Industrial (BI) and Banrural among the Guatemalan banks they deposit to. Ask each bank for its current tarifario (fee schedule) before choosing.
Can foreigners open a bank account in Guatemala?
Yes. Banrural’s additional requirements for foreigners, read 10 October 2026: a passport valid on the day you apply plus a photocopy (at least of the first page); if you are a resident foreigner, your DPI (DPI extranjero domiciliado) plus a copy; if you are not a resident, a mandate with representation and the DPI of your representative (mandatario); a recent utility bill (water, power or residential phone) no more than three months old; and documents showing your migratory status. Other banks set their own lists; ask before you go.
Does Guatemala have USD accounts?
Yes. Banrural’s Cuenta Rural is a checking account you can open in quetzales or dollars. Banks also publish rates on US-dollar savings: weighted averages of 1.72% at BAC (31 July 2026), 2.30% at G&T Continental (January 2026) and 2.4273% at Banco Promerica (31 August 2026). Ask the bank how it converts between dollar and quetzal accounts.
What are typical bank fees in Guatemala?
Each bank sets its own fees in a tarifario (fee schedule). Banrural’s tarifario page loaded no fee figures as text on 10 October 2026, so this guide does not list fee ranges; ask the bank for its current tarifario before opening an account. For US cards, Schwab Bank’s Investor Checking offers unlimited ATM fee rebates for cash withdrawals worldwide, and Fidelity reimburses ATM fees on its debit card used with a Fidelity Cash Management Account.
Are Guatemalan banks safe?
Deposits are covered by the Fondo para la Protección del Ahorro (FOPA). Article 87 of the Ley de Bancos y Grupos Financieros (Decreto 19-2002) sets the cover at up to twenty thousand quetzales, or the equivalent in foreign currency, per individual or legal person with deposits in a private national bank or a branch of a foreign bank. Banco de Guatemala’s FOPA paper (August 2026) gives the same Q20,000 limit. Money above that at one bank is outside the cover.
