Money & Payments in Asunción (2026)

Cash is still commonly used in Asunción, but many larger stores, restaurants and hotels can accept card payments—it's worth taking both cards and cash.
Cards are more commonly accepted than in many other Latin American nations although there may be issues with certain cards at times, so best to have a couple of options.
Withdraw cash at major bank ATMs (Banco Itaú, Continental) rather than independent machines to minimize fees.
Some machines will offer either USD or PY Guarani (local currency).
If bringing cash USD, ensure bills are in pristine condition—wrinkles, folds, tears, or smudges will be rejected outright.

Fee Range: PYG 25,000
Most ATMs have a fee of 25,000 PYG per withdrawal. Some charge up to 50,000 PYG.
Typical Fee: PYG 25,000
Reliable Banks: The best banks for ATM withdrawals are Banco Itaú, Banco Continental, and BBVA.
Practical Advice: Choose to be charged in Paraguayan Guaraní while you're in Paraguay to get the best rate. Avoid dynamic currency conversion (DCC).
Withdrawal Limits: The maximum withdrawal amount per transaction is usually 1,500,000 PYG.

Exchange Vs ATM: You should exchange your money at authorized 'casas de cambio' (exchange houses) in downtown Asunción rather than at the airport, as the airport offers significantly wider spreads.
USD Cash Requirements: US Dollars notes must be in pristine condition—any small tear or ink mark may lead to a rejection or a lower rate. Only the 'new' USD $100 bills (with the blue line) will be accepted.

Taxis: Tipping is not expected, but rounding up the fare is a nice gesture.
Hotel Staff: Porters should be tipped $1-2 per bag. Hotel maids typically receive $2-3 per day.
Restaurants Guides: Specific restaurant/service tipping norms require additional research.

General: Credit card acceptance is high in major shopping malls, hotels, and upscale restaurants in Asunción, with Visa and Mastercard being the most widely recognized. Contactless 'tap-to-pay' technology has become the standard in 2026, even in mid-sized grocery stores and pharmacies.
Where Cash Only: Local markets like Mercado 4 require cash only.

Credit Cards: Visa and MasterCard widely accepted in cities; interest rates high (35%+ reported); limited credit history available to new residents
Digital Banking: Modern platforms available; Ueno, Eko offer fastest digital-first account opening for residents
CéDula Timeline: Typically 2–4 months from residency application to ID issuance
Currency Accounts: Both Guaraní and USD accounts available at most banks; USD accounts typically require more documentation
Deposit Insurance: Insured up to 138 million Guaraníes (~$21,436–26,000 USD equivalent) under government deposit insurance
Challenges For Expats: Banks vary significantly by branch/compliance officer; recognition gap for newly-issued Cédulas (24–48 hour delay); strict source-of-funds verification; language barriers (English not universal); paper-based processes still common; multiple branch visits often required for single transaction
Residency Requirement: Permanent or temporary residency with valid Paraguayan Cédula (national ID) is standard requirement; account opening extremely difficult without it

Ueno Bank – 100% digital, easiest for expats, no paperwork (Paraguayan ID only), 2+ million users, no opening/maintenance fees
Itaú Paraguay – Brazilian giant, strong international wire transfer capability, popular with expatriates
Banco Continental – strong local presence, competitive rates, extensive ATM network
BBVA Paraguay, Banco Regional, Familiar Bank – regional/specialized options

Full Account: Requires proof of origin of funds; allows larger transactions and transfers
Basic Account: Limited functionality due to banking secrecy laws; restrictions on transaction sizes

Requirements: Valid Cédula, proof of address in Paraguay, proof of income/employment or source of funds (especially for foreign income)
Documentation: Certificate of Life and Residency (from local police), FATCA/CRS forms (mandatory), bank references, potentially apostilled/translated foreign documents

AI-generated estimateData refreshed July 2026

These are the sources cited in this money & payments research for this city. Individual figures may not each trace to one of them.

More About Asunción

Data last updated July 2026 · Verify anything important.