Good to know
Good to Know
- Montevideo is a mature card-payment city—use Visa/Mastercard for most expenses and trigger automatic VAT refunds at restaurants and car rentals (saving 18-22%), but keep pesos in cash for small shops, markets, and tips.
- ATM fees in Uruguay are among South America's highest (250-450 UYU per withdrawal). Minimize trips by withdrawing larger amounts at once, and avoid dynamic currency conversion by selecting UYU at the ATM prompt.
- Credit card tips should be left in cash on the table rather than added to card receipts; this is the local norm.
- Rounding up taxi fares or tipping 10% for good service is customary but not required.
- Use travel debit cards (Wise, Revolut) if possible to avoid ATM fees; both offer fee-free or low-cost international withdrawals within monthly limits.
VAT Refund
- Mechanics
- Automatic discount applied at point of sale on physical cards (Visa shows immediately; Mastercard appears on monthly bill)
- Refund Amount
- 18-22% VAT (IVA) refund
- Eligible Purchases
- Restaurants and car rentals when paying with non-Uruguayan debit or credit card
Tipping Norms
- General Principle
- Tipping is not mandatory but appreciated as a gesture for good service. Cash is culturally preferred for tips.
Restaurants
- Standard Tip
- 10% if service not included
- Delivery Method
- Culturally preferred in cash (pesos) left on table
- Inclusion In Bill
- Service charge rarely included; always check the bill
Taxi Drivers
- Standard Tip
- Rounding up to nearest bill or small coins; up to 10% for good service
- Note
- Not required but appreciated
Hotel And Services
- Airport Baggage Handler
- UYU 30
- Bellhop Or Housekeeping
- Small tip per service or daily amount; not mandatory
- Street Parking Attendant
- UYU 30
ATM Information
- Networks
- Red BROU and Banred
- Operating Hours
- 11am to 7pm for international cards (Banred restriction)
- Withdrawal Limits
- Typically up to 5,000 UYU or 1,000 USD per withdrawal
Fee Structure
- Local Bank Fee
- UYU 250
- Highest In Region
- Uruguay has some of the highest ATM transaction fees in South America.
- Note
- ATM withdrawal fees in Uruguay range approximately 250-450 UYU (roughly 6-11 USD) per transaction regardless of amount withdrawn. Home bank may also charge additional fees.
Best Practices
- Choose ATMs with Cirrus/Maestro/Link/Visa stickers for international cards
- Make fewer, larger withdrawals to minimize total fees
- Avoid dynamic currency conversion (DCC) - pay in UYU, not foreign currency
- Use Banco República (BROU) ATMs when possible for potentially lower fees
- Avoid airport and tourist-zone ATMs which charge premium rates
Card Acceptance
- Local Cards
- OCA is a popular local card brand accepted throughout Montevideo.
- Mobile Wallets
- Apple Pay and Google Pay are accepted at modern terminals in Montevideo, though physical cards may be preferred for VAT refunds.
- Credit Debit Cards
- Visa and Mastercard are widely accepted in Montevideo, especially in restaurants, hotels, and urban establishments. American Express and Diners are rarely accepted.
Recommended Cards
- Visa (70% market dominance)
- Mastercard
- Travel debit cards (Wise, Revolut)
Currency Information
- Local Currency
- Uruguayan Peso (UYU)
- USD Acceptance
- Rarely accepted even in high-end hotels and tourist centers; always get worse exchange rate than local peso
- Note
- Only UYU is accepted for most transactions; foreign currency exchange should happen before arrival or at official cambios
Banking
- Digital Alternatives
- International fintech options (Wise, Revolut) may be simpler for short-term needs
- Resident Requirement
- Most accounts require some form of residency or visa status
- Setup For Foreigners
- Available but complex; typically requires: proof of income, passport, proof of local address, and may differ by bank. Many banks now have digital account options.
Major Banks
- BROU (Banco de la República)
- Banco Santander
- Banco Itaú
- Banco Bradesco
AI-generated estimateData refreshed July 2026
Sources cited for this category
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 Montevideo
Data last updated July 2026 · Verify anything important.