Banco de Crédito del Perú (BCP)
traditional bank
Banco de Crédito del Perú (BCP) is Peru's largest and oldest bank, founded in 1889 and owned by the Credicorp financial conglomerate. It commands roughly 30% of Peru's banking system assets and serves over 10 million retail and business clients through a nationwide network of branches, ATMs, and its Yape mobile-payment super-app. For expats and immigrants, residency status is the key prerequisite: a valid Carné de Extranjería or residency permit is required before an account can be opened, as BCP does not extend accounts to short-stay tourists. Once residency is established, digital onboarding via the BCP app covers most standard products. Accounts are primarily denominated in Peruvian Sol (PEN) with a parallel US Dollar (USD) account option widely used for savings. BCP offers current and savings accounts, consumer and mortgage credit, investment products through Credicorp Capital, and business banking for SMEs and corporates. US persons are accepted subject to FATCA reporting and are required to complete W-9/W-8 disclosure. Monthly maintenance fees are waived when minimum balance thresholds are met or salary is directly deposited. Deposits are protected by the Fondo de Seguro de Depósitos (FSD) up to approximately PEN 120,000. BCP is regulated by the Superintendencia de Banca, Seguros y AFP (SBS).
Details
- Headquarters
- Peru
- Currencies
- 2
- Monthly Fee
- $3
- Non-Residents
- Not accepted
- US Persons
- Accepted
- Debit Card
- Available
- Business Account
- Available
Opening Requirements
- •Valid passport or Peruvian DNI (Documento Nacional de Identidad)
- •Carné de Extranjería or valid residency permit (required for non-citizens; tourists cannot open accounts)
- •RUC (Registro Único de Contribuyentes) or CE number for tax identification
- •Proof of Peruvian address (utility bill, rental contract, or bank letter)
- •Proof of income or employment (payslip, contract, or affidavit for self-employed)
- •Minimum opening deposit (varies by product; typically PEN 0 on BCP Express accounts; PEN 20–PEN 500 on classic tiers)
- •Biometric selfie and video verification available via BCP mobile app for digital onboarding
Restricted Nationalities
Not available to nationals of: iran, north-korea, syria, cuba
Nationality Acceptance Matrix
Who this provider will and will not onboard. Refusals are listed first. Sourced from the provider's own published terms and recent public onboarding reports — confirm with the provider before applying.
| Nationality | Accepted | Notes |
|---|---|---|
| iran | NO | Blocked — SBS AML compliance and OFAC sanctions screening. |
| north korea | NO | Blocked — UN and OFAC DPRK sanctions. |
| syria | NO | Blocked — UN, OFAC, and SBS sanctions compliance. |
| us | YES | US persons accepted; FATCA reporting applies; W-9 required. Residency permit is still a prerequisite for account opening. |
| uk | YES | UK nationals accepted as Peruvian residents; standard KYC and Carné de Extranjería required. |
| eu | YES | EU nationals accepted as Peruvian residents; residency document is the main prerequisite beyond KYC. |
| colombia | YES | Colombian nationals widely served; significant Colombian expat community in Lima with no additional restrictions. |
| venezuela | YES | Venezuelan nationals accepted; Peru hosts a large Venezuelan migrant population and BCP actively onboards Venezuelan account holders holding PTP or residency documents. |
| china | YES | Chinese nationals accepted as Peruvian residents; no specific restrictions beyond standard KYC and residency requirement. |
| russia | YES | Russian nationals generally accepted as Peruvian residents; Peru has not adopted US/EU Russia sanctions. Enhanced due diligence likely for high-value accounts. |
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Sources & last verified
- Last verified 2026-06-15