PARAGUAY · BANKING GUIDE
Published Saturday, 7 November 2026, 5:40 a.m. ET · Source: Central Bank of Paraguay communiqués, deposit guarantee law
Savers at Paraguay’s failed Ueno Bank are getting their money back in stages, and the guarantee covers balances up to 228.3 million guaraníes (about US$38,200) per person. How soon you are paid depends on your balance and on whether you owe Ueno anything.
By early Saturday 7 November 2026, the Central Bank of Paraguay (BCP) said it had started paying a first group (balances up to 10 million guaraníes, about US$1,670) and a second group (up to 121.76 million guaraníes, about US$20,400). Everyone with more is still waiting for dates the BCP has not published.
Key Facts
- First group Balances up to 10 million guaraníes (about US$1,670), no Ueno debt, an account at another bank.
- Second group Balances above that, up to 121.76 million guaraníes (about US$20,400), same conditions.
- Legal cap 228.3 million guaraníes (about US$38,200) per depositor, per institution, however many accounts you hold.
- Deadline The BCP says the advance process may not exceed five business days from 5 November.
- Power Index Paraguay ranks 10th of 14 in The Rio Times Latin America Power Index, with 35.0 points (November 2026 edition).
The Central Bank of Paraguay is paying Ueno Bank savers in groups: small balances first, larger ones later, and amounts above the legal cap with no promised date.
What Happened to Ueno Bank
Ueno Bank is a Paraguayan digital lender that the BCP took over in the first days of November 2026, after its solvency ratio (a measure of whether a bank can absorb losses) fell below half the legal minimum. Nearly three million clients lost access to their accounts, cards and app.
Paraguay’s prosecutor’s office has formally accused 27 people, and President Santiago Peña was removed by the Senate on Friday 6 November, as we reported. The payout rules below come from a 2003 deposit-insurance law (Law 2334/03) and a new law approved this week.
In Plain English
- BCP The Central Bank of Paraguay, the national regulator that took control of Ueno.
- FGD The Deposit Guarantee Fund, an insurance pool that repays savers when a bank fails.
- Advance A part-payment now against the full guarantee, so savers do not wait for the whole process.
- Guaraní Paraguay’s currency. We use 5,976 per US$, the 6 November 2026 close (RT market data).
Who Gets Paid, How Much and When
The BCP pays through the FGD in groups, and all limits apply per depositor, not per account. A depositor who holds several accounts at Ueno shares one limit across all of them.
Payout Groups
- Group 1 Total deposits up to 10 million guaraníes (about US$1,670), no debts to Ueno, and an active account at another Paraguayan bank or finance company. Savers under that line get everything back, and payments began on Thursday 5 November.
- Group 2 Demand deposits (everyday accounts) above 10 million and up to 121.76 million guaraníes (about US$20,400), no debts to Ueno (loans, cards or other products), and an account at another bank. The BCP said it had started paying this group by early Saturday 7 November.
- Later groups No date and no schedule yet. The BCP says the payment method for the next groups will be published “soon” on its official channels.
The 121.76 million figure equals 40 monthly minimum wages, the advance the new law allows. The full guarantee is 75 minimum wages, or 228.3 million guaraníes (about US$38,200), at the minimum wage of 3,044,000 guaraníes (about US$509) in force since 1 July 2026.
The BCP says payments start within 24 hours of the resolution and the process may not exceed five business days from 5 November, which on our count ends on Wednesday 11 November. Under the earlier rule the fund had 15 calendar days, extendable once.
For savers under the cap, the guarantee covers the full balance. For them the question is timing, not loss.
How to Claim Your Money
There is no counter queue and no form to post. The BCP says payment is made automatically into an account, and your job is to find out which bank it names for you.
- Check your email and phone. The BCP says it writes to the email address you registered with Ueno. It also contacts the phone numbers registered with Ueno.
- Look up your status. Enter your ID number at bcp.gov.py/fgd-pagos, which the BCP says is updated gradually. An empty result on day one is not a refusal.
- Note the bank named for you and download its app. Payment is credited to an account, not paid in cash at a window.
- Know where the money lands. Savers with no other account are meant to get one opened for them, but groups 1 and 2 require an existing account. No timing has been given for the rest.
- Pay nobody. The BCP and the paying banks will not ask for passwords, account data or money to open an account or release the fund.
What Happens to Money Above the Limit
The guarantee stops at 228.3 million guaraníes (about US$38,200) per depositor at each institution. The BCP has published no schedule, no amount and no promise for repaying balances above that ceiling.
Debts matter too. The BCP says overdue debts to Ueno are deducted from the advance, yet the first two groups are open only to savers with no debts at all, and the rules do not say how the two statements fit together.
Foreign and Corporate Depositors
Savers who held dollars at Ueno are repaid in guaraníes under the fund’s rules, and the BCP has not said which exchange rate it will use. The guarantee makes no distinction between Paraguayans and foreigners, but groups 1 and 2 require an account at another Paraguayan bank.
Persons and companies linked to Ueno are excluded from the guarantee. The BCP says they must return any money improperly received within 24 hours.
What It Means for You
If you banked at Ueno, the practical order is simple: watch your email, check the BCP page, and move nothing until you know your assigned bank. A US reader with a Paraguayan dollar account should expect a guaraní payout, so the exchange rate on the day matters; the guaraní closed at 5,976 per US$ on Friday 6 November, weaker than 5,875 a day earlier (RT market data).
Background: the first payout announcement, the central bank chief’s resignation, his surrender to prosecutors and the guaraní slide. More from Paraguay.
What Is Not Known
- When groups 3 and later will be paid, and what rules apply to balances between 121.76 million and 228.3 million guaraníes (about US$20,400 to US$38,200).
- How debts to Ueno are treated: deducted from the advance, or a bar to payment in groups 1 and 2.
- How many savers have been paid so far and how much the fund has disbursed.
- Whether fixed-term deposit certificates are in group 2, which is described as covering demand deposits.
- How foreign residents without a Paraguayan account will be paid, and which exchange rate applies to dollar balances.
- What share of balances above the cap can be recovered, and when.
Frequently Asked Questions
Is my money safe at Ueno Bank?
Up to 228.3 million guaraníes (about US$38,200) per depositor, per institution, is guaranteed. Amounts above it have no repayment date.
When will I get my money back from Ueno Bank?
Balances up to 121.76 million guaraníes (about US$20,400) are being paid in two groups, with debt-free savers who hold an account elsewhere first. The BCP says the advance process may not exceed five business days from 5 November.
What if I have more than 228.3 million guaraníes at Ueno?
The guarantee does not cover the excess. The BCP has published no schedule or promise for such balances.
Are foreign depositors and companies covered?
Yes. Nationality makes no difference, the cap applies per depositor and institution, and dollar deposits are repaid in guaraníes. Persons linked to Ueno are excluded.
How do I know a message about my payout is real?
The BCP publishes status at bcp.gov.py/fgd-pagos. It and the paying banks will not ask for passwords, account data or money.
Sources: Central Bank of Paraguay (BCP), deposit guarantee payment communiqués, 4 to 7 November 2026, bcp.gov.py; Law 2334/03 on the Deposit Guarantee Fund; Ministry of Labour (MTESS), minimum wage resolution 670/2026; RT market data, guaraní close of 6 November 2026. Read on 7 November 2026.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief