List of Financial Services for Paraguay Residency

https://international.schwab.com/

Requirements:

• Proof of residency in Paraguay, such as a bank statement
• Passport

Benefits

• Free registered US account with the ability to receive and send ACH.
• You can also receive SEPA transfers to a European bank, which are then converted to USD with a 1% fee.
• https://international.schwab.com/resource/instructions-to-transfer-money-to-your-schwab-account
• Non-contactless debit card; you can withdraw cash from all ATMs at market exchange rates, and Schwab reimburses the ATM withdrawal fee.

https://monerium.app

A bank account that can receive and send to third-party accounts, which can be opened with a Cedula and PY residency.

The use of a wallet as a metamask is required, because upon deposit, the funds are converted into a proprietary EUR stablecoin, and upon sending, a conversion always occurs. Both deposits and sendings are 1:1 with no fees.

Therefore, it is also useful for receiving payments from third parties, for example, as a freelancer, without sharing any european ID data.

https://app.mtpelerin.com

Another EUR account, which can be opened with cedula and PY residency.

However, when withdrawing EUR over approximately 548 euros, there is a 1.3% fee, which can be reduced by purchasing tokens.

Upon receiving, you also have to choose which token to automatically convert to. You can choose Bitcoin or other tokens, including stablecoins tied to the euro.

https://wise.com

The account must be opened as a European resident, the virtual card must be activated, and possibly the physical one, "and later", the residency must be changed to Paraguay.

It will no longer be possible to renew cards, but existing ones should remain functional.

Opened bank accounts will remain active.

The USD account allows you to:

• send ACH with a flat fee of $1.13
• receive ACH with zero fees

Receiving limits: $20,000,000

Movement limits: $35,000,000

The EUR account allows you to receive and send with zero fees.

https://grabfi.com

Fee: https://help.grabrfi.com/en/content/full-schedule-of-fees

https://www.paysera.com

The account must be opened as a European resident, and then converted to Paraguayan residency.

When changing residence, do not change your identity document; keep your European passport, or you will be asked for another document as an immigrant to Europe.

Ordering a physical or virtual card before changing residence may allow you to use the card afterwards, but this has not been tested.

https://www.zen.com

The account must be opened as a European resident, the virtual card activated, and possibly the physical one, "and later", your residency must be changed to Paraguay.

You can also top up with cryptocurrencies - 0.5% fee

EUR transfer to another account: 0.25 EUR fixed fee

Fee details: https://www.zen.com/files/pricing/individual_pricing.pdf

https://paysend.com

Better exchange rate than WU and Remitly.

Requires a European phone number.

This is the simplest and quickest service.

Once certain thresholds are exceeded, they may begin requesting more documents, including the Cedula.

https://www.remitly.com

Another remittance service, but usually the exchange rate from EUR is better on Paysent.

It can be good if you need to exchange other currencies than EUR to PYG.

https://revolut.com

Useful for sending to local bank cards in Paraguay, with a commission of approximately 1%.

https://www.utoppia.com

Various Fees: https://www.utoppia.com/pricing

https://www.kraken.com

- Good for receiving EUR from your accounts and converting to stablecoins and vice versa

https://bitwage.com

Useful for avoiding setting up an LLC in the US.

You can also receive EUR and send it to another EUR account; the fee in this case should be 1%.

You can only receive funds from business or crypto accounts.

- Fee

https://support.bitwage.com/what-are-the-fees-to-use-bitwage
https://support.bitwage.com/bitwage-exchange-rate-spreads
https://bitwage.com/en-us/personal/personal-pricing

• Binance https://www.binance.com
  Good for the USDT/BTC -> PYG p2p market
• OKX https://www.okx.com/
• Bybit https://www.bybit.com
• El Dorado https://eldorado.io
• BingX https://bingx.com

Where to check out various offers:

https://yadio.io/market.html
https://p2p.army/

https://www.interactivebrokers.com

Trading account for receiving EUR or USD and obtaining the best market exchange rate between the two, and sending back to your accounts.

It's a good idea to make a few small transactions every now and then, not just in and out, to avoid the risk of account closure.

You can send a free outgoing ACH transaction once a month; after that, the cost is $1 per transaction.

https://www.fluidkey.com

Free monthly transfers up to $3,000, then 0.3%.

By increasing your account score, making transfers, or having a large deposit, you can transfer up to $20,000 without a fee: https://docs.fluidkey.com/readme/bank

USD deposits are converted to USDC, and EUR deposits to EURC.

https://sling.money

• USD/EUR/MX weight deposit fee: 0.1%
• Zero FX fees

Limits:

• $7,500 week
• $20.000 per month
• Daily card usage: $2,000

Deposits in EURC/USDC/USDP on the Solana network converted to USD or EUR at zero fees.

https://due.network

Non-denominated EUR account that can receive from anyone. - Fee: €0.90

Nominal USD account. ACH receiving fee: $1.50 + 0.2%

You can also send fiat to other accounts:

EUR fee: €0.90 fixed fee

USD fee examples:

• For $10: $0.53 fee
• For $100: $0.80 fee
• For $1,000: $3.50 fee

https://ugly.cash

• Personal but non-nominal EUR account, zero deposit fee (for now), good exchange rate.
  You can only receive funds from business accounts or personal accounts in your name.
• Personal USD account: fixed fee of $2
• Deposit conversion of USDT/USDT and other stablecoins at 1:1
• Earn: 8%
• Card with 1% FX fee but 1% cashback in other tokens

https://www.belo.app

Argentine app that allows you to directly convert bitcoin or stablecoins to PYG on PY accounts.

The exchange rate isn't the best, but it can be convenient.

On weekdays, a transfer can take two hours; on holidays or weekends, it can take up to a day or two.

https://www.ready.co

Deposits in:

• USDC zero fee
• Other cryptocurrencies approximately 0.08% fee

https://fusewallet.com

Since I don't have an iPhone, I can't test it. More details here:

https://fusewallet.com/support

https://gnosispay.com

https://tria.so

Card price: $20 annually (in the future: $25 annually)

https://ether.fi

Information on the 1% FX fee:

https://help.ether.fi/en/articles/304414-what-s-the-foreign-exchange-fx-rate-on-cash-purchase-transactions

Information about the Cashback:

https://help.ether.fi/en/articles/262374-how-does-cashback-work

For the best exchange rate to get to Paraguay from crypto, without going through Paysend, but still using an exchange.

Kraken with py residence, not LLC -> crypto -> 0.2% fee -> EUR -> wise -> fee approximately 0.458% -> USD -> fixed fee 1.3 USD -> Schwab -> card -> ATM (market exchange rate and ATM cashback fee)

- With Uglycash
crypto -> defi fee 0.2% or less -> USDt or USDc -> uglycash -> USD -> fixed fee 2 USD -> Schwab -> card -> ATM (market exchange rate and ATM cashback fee)

Kraken in this case is only useful if you start from EUR, and it's a 0.2% fee.

Even the EUR -> USD exchange rate on uglycash doesn't seem bad, so you could also do:

EUR -> UglyCash -> USD -> fixed fee 2 USD -> Schwab -> card -> ATM (market exchange rate and ATM cashback fee)

Uglycash currently also allows you to earn an 8% annual profit, so:

With 1,000 euros, which then become dollars, about 9 days to Recover the $2 in future fees for transferring to Schwab.

So if the amount is higher, obviously fewer days. (With €2,000, about 4/5 days, etc.)

With Schwab, which can also receive EUR transfers, and the USD exchange has a 1% fee, anything above 1% isn't worth it, unless you want to avoid banks and only go crypto -> cash.