Cuenta Básica vs Full Account in Paraguay
A cuenta básica and a full account are two rungs on the same ladder. The basic account is a capped entry point that opens with minimal paperwork. The full account raises your limits to match the local income you can prove, and it adds international transfers and credit cards. Most residents start on the first and climb to the second.
The Comparison at a Glance
The two accounts differ on six things that matter: how much you can deposit, what you need to open one, whether you can move money across borders, whether you get cards, whether you can hold foreign currency, and what proof of income is required.
| Feature | Cuenta básica | Full account |
|---|---|---|
| Monthly deposit limit | About three minimum wages (roughly $1,550 at the current minimum wage) | Raised to your average documented local income |
| Documents to open | Cédula, minimal paperwork | Cédula plus three to six months of local income proof |
| Proof of income required | No | Yes, usually RUC declarations or local payslips |
| International SWIFT transfers | No | Yes, in and out, usually in USD |
| Credit cards | Usually no | Yes, including premium cards for established clients |
| Foreign currency (USD) | No | Often available |
| Opening experience | Some banks allow the whole process online | Usually an in-branch reassessment |
Read the table as a ladder, not a choice between equals. The basic account is the fast start; the full account is the destination once you have a local income story to back it.
The Cuenta Básica: Fast, Capped, Local Only
The cuenta básica is a regulated basic-account category defined by the Banco Central del Paraguay. It was introduced at the end of 2013 and updated in 2023 and 2024. Its purpose is to give people a low-friction way into the banking system, which is why it opens with your cédula and very little else.
The trade-off is the cap. You can deposit and transfer up to about three minimum wages per month, roughly $1,550 at the current wage of Gs. 3,044,000 (in force since 1 July 2026). BCP Resolution 5/2024 actually allows up to six minimum wages, but in practice almost every bank sets the limit at three. There is no proof of income required, and some banks let you complete the entire process online.
On the opening requirement, one bank stands out: as of September 2026, Banco Basa is the only bank confirmed to open a cuenta básica with a passport alone, before the cédula arrives. Treat that as dated practice rather than a permanent rule, because opening requirements move with each bank's risk posture. Every other bank wants the cédula.
And if you exceed the cap? In practice the operation usually goes through first, and the consequence arrives afterward: the bank calls to ask about the overrun, and repeated overruns end with the account closed. The cap is enforced by after-the-fact review, not by a hard block at the counter.
The hard limit is international. A cuenta básica has no SWIFT coordinates, so it cannot receive transfers from other countries. For local bills, taxes, and day-to-day spending it works well. For anything cross-border it does not work at all. For the deeper product view, see the basic savings account guide.
The Full Account: Limits That Track Your Income
A full account removes the basic account's ceiling, but not to infinity. The bank raises your deposit limit to the average Paraguayan income you can demonstrate. If you document an average of $2,000 a month of local income, you can typically deposit up to $2,000 a month. The limit follows your declared earnings.
To get there you need proof of Paraguayan income, usually three to six months of RUC declarations or local payslips. Once the bank accepts that profile, you get access to what the basic account cannot do: SWIFT transfers in and out (usually in dollars), credit cards, and often foreign-currency accounts.
This is why the full account is an outcome, not a starting point. It rewards a documented local life. If you have not built local income yet, you cannot get it just by asking.
The Upgrade Path
The standard path from basic to full runs through local income. Open the cuenta básica once you have your cédula, start filing through your RUC, build three to six months of declared local income, then ask the bank to reassess your limits. As your documented income grows, the ceiling moves up with it.
Two routes lead up that ladder, and they run on different documents. Route one is local income: three months of IVA returns with real activity is the usual minimum, many banks want six, and the new deposit limit lands at roughly your average invoicing. Route two is foreign funds: bring roughly $30,000 to $50,000 or more and the private-banking side of the bank takes the file instead, with a dedicated banker, premium cards, and Priority Pass lounge access, underwritten on the relationship rather than on declarations.
Whichever route you take, keep the declared numbers honest. An account that consistently outruns its documented income ends in a suspension at due-diligence review or a SEPRELAD flag, and either one closes more doors than the upgrade opened.
Bank choice plays a supporting role. Digital-forward banks tend to make the early cuenta básica experience smoother, while larger traditional banks tend to be the better home for bigger balances and full-functionality products once your profile is established. The right move for many residents is to start where onboarding is easiest and consolidate later.
If you do not yet have a RUC, that is the gating step. See RUC registration to understand how to start filing, because those filings are what make the upgrade possible.
The Paradox: Moving Money In
Here is the counterintuitive part of Paraguayan banking. Moving money directly from abroad into your own account is hard. The moment an international wire lands on a new account, it triggers source-of-funds questions, correspondent-bank scrutiny, and often delays. Even with a full account, inbound SWIFT can take up to eight working days and commonly costs two to three percent in exchange spread plus a fixed fee.
But once that same money is localized through a local sale or a local invoice, banks relax. A local transaction history reads as legitimate local activity, which is exactly what the compliance system is built to recognize. This is why many residents turn foreign wealth into a local asset first, then operate from there.
Real estate is the most cited example of that move, because a property purchase creates a clean, documented local proof of funds. If that path is relevant to you, the Paraguay real estate guide covers it, and the source of funds guide covers the documentation logic behind it.
Which One Should You Start With?
For almost everyone, the answer is the cuenta básica first. It is the only realistic day-one product for a newly resident foreigner, because it does not require a local income trail you do not yet have. From there, the full account becomes available as soon as your RUC filings and local activity establish a profile the bank will underwrite.
If you are still deciding whether you need an account at all, start one step earlier with the decision guide. If you already know you need one and want the onboarding workflow, go straight to opening a personal bank account.