Allwewantispeace
7/15/2015 11:54 EST
Hello everyone,
My brother and I are looking for a chacra in the Minas area, outside of town with land and a humble house. Please message me if you can refer me to a property which is less than 150.000 dollars.
Meanwhile we are trying to open an account at the BROU. Can someone please confirm if a translated birth certificate is required?
I have proof of income, W9, cash, passport and an invoice proving my permanent address in the states.
Is the a formal list of requirements somewhere? Are more documents required?
Thanks.
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Morell
7/15/2015 12:12 EST
I think each branch is slightly different.
We had to have a current client of that particular Branch sign a form the Bank gave us saying they knew us and could vouch for us.
They also wanted a local address and a utility bill in our name from here.
They did not want a birth certificate but did want a passport .
They did not want proof of income but did require information on any large desposits being sent here. We needed the paperwork for the sale of our house up north and the bank records showing the money going into our account up there.
You may have a completely different experience.
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roninscz
7/15/2015 12:28 EST
Definitely your passport. I had my temporary Uruguay cedula and that was ok. BROU did ask me for proof of income and accepted my prior year's USA tax return. I guess a W2 is acceptable too.
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edykizaki
7/15/2015 20:01 EST
Hi, you do NOT need a birth certificate for the BROU account. I will send you some farm property possibilities by PM.
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kimbo47
7/15/2015 22:18 EST
From all the variations on the replies here and the one's published before it seems there is no way of tying this process to a specific guideline that all branches would respect.
Morell do you have a contact on a specific branch that you personally know that I can contact personally and see if we can agree of what I need to open an account while on my upcoming brief visit there this coming summer?
Please PM me the info.
BTW great postings I learn a lot from them being factual direct and short. Keep up the good work.
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Morell
7/16/2015 09:44 EST
I am very hesitant to recommend my Branch! They can be very unhelpful and we were even told to go away and bring someone who spoke Spanish when we first arrived, even though we know for a facr there are one or two there who speak English.
We almost never go in there, we just use the cash machine outside.It is the only bank in town or we might have tried a different one.
Perhaps try contacting BROU here
http://bancorepublica.com.uy/web/guest/personas/cuentas/cuenta-ahorro
There is a contact button.
Generally you get much further in person and in either MVD or Punta del Este you should find English speakers in the Bank and people more used to dealing with "foreigners".
Also you could try contacting the Facebook group and ask them . Many live in Mvd and there are new people all the time so they may have current information.
https://www.facebook.com/groups/uruguayexpats/
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Whatsinaname
7/26/2015 03:37 EST
I opened my account at BROU in Punta Carretas shopping. They had someone who spoke English and it wasn't very difficult, although there was a lot of paperwork to sign.
Unexpected things they asked me for:
1. My USA Driver License.
2. My Social Security Card.
3. Utility bill from my USA address.
4. Recent Bank Statement from my USA bank.
5. Income verification (mainly to establish a threshold for incoming wire transfers that "should" go through without question.
6. A Uruguayan utility bill to establish my local address (I did not have one and they made a note and said to bring one in sometime in the future when I get a chance).
Other than No. 6, above, I had everything with me and it all went very smoothly. The other items (no. 1 thru 3) they asked for I think were mainly to comply with "know your customer" type of requirements.
Hope this helps.
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Morell
7/26/2015 08:34 EST
We recently sent money from our US account to BROU.
A couple of years ago we set this up with the US bank. It required quite a bit of paperwork including being given several special code numbers to use when we called to arrange a wire transfer.
We use Harris Bank so maybe it is specific to them but it is worth looking into before you leave your home country as there were papers to sign.
This recent transfer took a five minute phone call and our money arrived in our BROU account within 48 hours.
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kimbo47
7/26/2015 18:10 EST
Thanks Morrell for all your specific and useful information. This is great to know. Of course I still need to grasp the latest process that BROU is requiring for non UY residents if at all.
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wengin
7/29/2015 11:24 EST
It's always easy to open an account in a smaller branch of BROU. They are usually friendlier than in bigger cities and they let things pass by sometimes.
If you are in Minas or even in Aigua, you may try to swing by there and you will probably find it easier to manage out there.
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Wanderlustspirit
7/29/2015 23:45 EST
BROU was challenging to work with in the Pocitos branch....kept asking for more & more documentation. I have found Itau MUCH easier to open an account at.
Definitely look into this Brazilian bank that from my experience is easier to deal with...
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Wanderlustspirit
7/29/2015 23:49 EST
Incidentally writing about BROU reminded me that BROU asked me for a utility bill from the U.S. With my name & address on it....
Best idea is to call ahead or ask someone proficient in Spanish to call for you. Contact the branch where you will be opening an account & document everything needed to save you time & stress so you can go in prepared & get everything done that day.
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Morell
7/30/2015 07:18 EST
We just got a new request from BROU to update all our personal information. We did this a couple of years ago at some expense as all the documents had to be verified by an escribano and we had to pay them of course. ( We took the excribano bill in to the Bank and asked them if they could reimburse us for the cost but they just laughed.)
One form is all personal details and the other is a list of assets including property, vehicles etc. and they also want to know source of funds we bring here and this needs to be verified.
They kindly indicated we did not need to have everything done by an escribano if nothing had changed but we just had to purchase a legal stamp for the documents.
Of course they want to see original copies of everything as well as utility bills, passports, cedulas etc.
Last time we were told our account would be "restricted" until we did this so I guess we had better get on it.
When we asked about this last time, they told us the Uruguayan Central Bank audits every bank here and each branch has to provide these documents on request or they get a hefty fine.
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wengin
7/30/2015 11:00 EST
If you don't have a permanent physical address yet, get the name and address of a friend and tell them you are momentarily living with them. If you stay in a country/small branch they may let that pass.
I'm also native Uruguayan if you need help with some type of understanding Spanish regarding.
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