BancoEstado

BancoEstado is a Chilean bank that offers business accounts for micro-enterprises in Chilean pesos. Its Cuenta Emprendedor and Cuenta PyME vista are sight accounts, called cuenta vista, and should not be treated automatically as current accounts with credit lines.

Cuenta Emprendedor The account is for formal micro-enterprise legal entities. According to the product page, it requires no minimum time in existence and no minimum sales volume. It includes a Visa Debit card, transfers and payment of social-security contributions through Previred. No account opening fee is stated.

Eligibility The brochure says legal representatives must be over 18 and be Chilean nationals or permanent residents. Foreign-owned micro-businesses without a resident representative may therefore not qualify.

Who it suits The product suits small formal businesses in Chile that need a simple, low-cost account for receiving payments and paying staff contributions and suppliers. Because it is a cuenta vista, it does not provide an overdraft or cheque book in the way a full current account does. Maintenance charges, transfer fees and card costs are not stated in the material and should be confirmed with the bank.