How to open a private account in the Banco de Venezuela

Need a bank account in Venezuela? Banco de Venezuela is among the top choices for reliable banking in the country. Founded in the late 19th century, it’s actually older than the Central Bank of Venezuela. In fact, BDV was the primary bank that issued currency in Venezuela up until the central bank was created in 1939.¹

Over the years, it has adapted to economic changes and is now one of the leaders in digital banking. Aside from establishing electronic channels, it also promotes financial inclusion by giving historically excluded sectors easier access to banking services.

So, how to open an account in Banco de Venezuela? That’s what we’ll discuss in this guide. We’ll explore the different account types available and foreign currency options for those who need to transfer money internationally.

Types of accounts available

Banco de Venezuela has several types of accounts for individuals and business clients. Private individuals may open standard accounts, digital accounts, foreign currency accounts, and accounts for minors.²

Standard private accounts

These are regular banking accounts that use passbooks or debit cards. These can be used for everyday banking and premium savings account services. Some of the account types available for private individuals are Cuenta Ahorros and Ahorro Global.

Digital accounts

Banco de Venezuela eases access to banking services through digital banking. Individuals can use electronic channels to open BDV digital accounts, such as the Cuenta Ahorro Clave Digital, and manage transactions through a mobile app.

Foreign currency accounts

Anyone with a national currency account (bolívar account) at Banco de Venezuela can open a foreign currency account. This account can be used to buy and sell foreign currencies and can also be used as a backup account when there are insufficient funds in the main bolívar account. We’ll discuss how to open a foreign currency account in Banco de Venezuela later in this article.

Accounts for minors

Parents and legal guardians can open accounts for minors (Cuenta Ahorro Niños de la Patria) with their names and signatures appearing in records. Minors aged 14+ can access their accounts only when there is written authorization from their legal guardians. Emancipated minors can freely manage their accounts but may require judicial authorization in some cases.³

Requirements to open an account

Anyone 18+ can open a Banco de Venezuela account. You’ll need the following^4,5:

• Identity documents, like a passport or national ID.
• Your current Registro de Informacion Fiscal (RIF)—a unique Tax Information Registry number. 

If you’re a foreigner (resident or non-resident), you’ll be asked to provide additional documents including, but not limited to, the following^6,7:

• Proof of residence in Venezuela, which must include your address in the country
• Proof of income or employment to substantiate funds/income sources
• Personal or bank reference that may certify your financial capability

Step-by-step process for opening an account

Opening an account at Banco de Venezuela requires online pre-registration followed by in-branch processing. Here’s the step-by-step process:

1. Pre-register online and select the BDV branch where you would like to complete the formal account opening process.
2. Visit the branch to verify your identity and submit the required documents.
3. Provide sample signatures for the Signature Identification Registry.
4. If opening an account with a passbook, sign the savings book.

For digital accounts⁶, the process is simpler. You can open an account from any location using the BDVApp. Prepare your identity documents and current RIF or tax information. Then do the following:

1. Download the BDVApp.
2. Launch the app and tap “I want to open a BDV account.”
3. Scan your ID and RIF.
4. Provide your full name, email address, mobile number, and other personal details.
5. Create a username and password.

Once your account is verified, you can start using the BDVApp. However, you must still update your information and provide biometrics at any BDV branch or Biopage BDV device within 30 days of creating your account.

How to open a dollar or foreign currency account

How to open a dollar account in Banco de Venezuela? The process is similar to that of national currency accounts. You’ll need valid identification documents and an RIF. You must also be registered on BDVenlínea people to enable foreign currency transactions.

To open your BDV foreign currency account, follow the steps below:

• Log into your BDVenlínea account.
• Go to Currencies > Account Opening
• Enter the required information.
• Check the details and confirm your request.
• Complete the authentication process to verify your account.

You can fund your account by purchasing foreign currency through BDV. To withdraw in a foreign currency, you must schedule the withdrawal via BDV electronic channels. On the date you set, visit the bank office you specified in the schedule form to complete your withdrawal. The withdrawal limits may vary depending on your account type and the availability of the foreign currency denominations you chose.

Keep in mind that transactions involving foreign currencies incur additional charges and fees, which are typically deducted from your bolívar account. The rates and amounts for the fees constantly change but will be available for checking on the BDV website and electronic channels.^7,8

Common issues and how to solve them

Banco de Venezuela has streamlined its account opening process by enabling pre-account opening through electronic channels. While they rarely happen, issues like delays in account approval or glitches in online applications can possibly occur. When these happen, reach out to BDV’s customer service or visit the nearest BDV branch to get assistance.

Fast and affordable way to transfer money to Venezuela

Banco de Venezuela is a trusted and reliable bank in the country. It offers different types of accounts to meet the diverse needs of individuals and businesses. While foreign currency accounts are available, the options for sending and receiving money internationally are limited. For international money transfers, it may be worthwhile to consider other service providers like BOSS Revolution, which allows you to send money abroad without needing a bank account.

Sources: all third party information obtained from applicable website as of March 26, 2025

1. https://www.bancodevenezuela.com/index.html@p=6613.html
2. https://www.bancodevenezuela.com/files/Tasas%20Alco%20noviembre%202024.pdf
3. https://www.bancodevenezuela.com/index.html@p=3384.html
4. https://www.bloomberglinea.com/latinoamerica/venezuela/lista-de-requisitos-para-abrir-una-cuenta-en-el-banco-de-venezuela/
5. https://www.elespectador.com/mundo/venezuela/como-abrir-una-cuenta-en-el-banco-de-venezuela-en-2025-estos-son-los-requisitos/
6. https://www.bancodevenezuela.com/index.html@p=3384.html
7. https://www.bancodevenezuela.com/index.html@p=3391.html
8. https://www.bancodevenezuela.com/files/ofertaspublicas/CONDICIONES%20GENERALES%20PARA%20LAS%20OPERACIONES%20EN%20MONEDA%20EXTRANJERA.pdf

This article is provided for general information purposes only and is not intended to address every aspect of the matters discussed herein. The information in this article is not intended as specific personal advice. The information in this article does not constitute legal, tax, regulatory or other professional advice from IDT Payment Services, Inc. and its affiliates (collectively, “IDT”), and should not be taken or used as such by any individual. IDT makes no representation, warranty or guaranty, whether express or implied, that the content in this article is current, accurate, or complete. You should obtain professional or other substantive advice before taking, or refraining from, any action on the basis of the information in this article.