Uruguay - U.S. Banks and Local Correspondent BanksUruguay - US Banks
Citibank (Citi)
Citibank has maintained a presence in Uruguay since 1915 and is the only U.S. bank currently operating in Uruguay. Citibank sold its private banking operation to Itaú bank in 2013 and is currently operating only in corporate banking. For more information check: https://www.citibank.com/icg/sa/latam/uruguay/.
All local banks except Bandes Uruguay have correspondent banking arrangements with major U.S. banks. All of them, including government-owned Banco de la Republica and private banks, which are either subsidiaries or branches of international banks, are in the process of adapting to Foreign Account Tax Compliance Act (FATCA) regulations. For more see: http://www.irs.gov/Businesses/Corporations/Foreign-Account-Tax-Compliance-Act-FATCA.