Informational content only. Not legal, tax, financial or investment advice. Always verify with a licensed professional in Puerto Rico. Data comes from each firm's public website and may change.
Typical requirements (each institution sets its own):
- Valid photo ID (driver's license or passport).
- Social Security Number or ITIN.
- Proof of address (utility bill or lease).
- Minimum opening deposit.
- Business accounts: entity documents (certificate of formation, resolution, EIN).
Banks vs. credit unions (cooperativas)
Cooperativas are member-owned; deposits are insured by COSSEC rather than the FDIC. Ask each institution.