What Happened to ueno bank: Paraguayan Central Bank Intervenes and Freezes App and Cards

Direct answer: The Paraguayan Central Bank (BCP) put ueno bank into resolution procedure in the early hours of November 3, 2026, because the bank’s solvency ratio fell below 50% of the legal minimum. The app, debit and credit cards, and transfers are suspended. Deposits up to ₲ 228.3 million per person (about R$ 212,000) are guaranteed, with an initial 15-day period for repayment.

What happened

The BCP board approved the measure unanimously on November 2 and announced it shortly after 3 a.m. on Tuesday, November 3. The official reason was an "insufficiency in the solvency ratio below 50% of the required minimum," which appeared after adjustments to the bank’s balance sheets during a regularization process.

In practice, the Bank Superintendency took control of ueno and appointed interventors. Their task is to assess the bank’s financial position on the resolution date and preserve the assets. The legal basis is Law No. 2.334/03, which deals with deposit guarantees and the resolution of financial entities in Paraguay.

The BCP states that this is a point-of-case and that the Paraguayan financial system is not in crisis. The country’s banking association (Asoban) also urged calm among account holders.

Why it matters

ueno is not a small bank:

The trajectory was rapid. Grupo Vázquez bought Financiera El Comercio in December 2021 and turned it into Financiera ueno, focusing on digital services. ueno became a bank at the end of 2023 and absorbed Visión Banco, which had about 30 years of market presence; since June 28, 2024 the two operate as a single entity. The ability to open an account in minutes via mobile and the cashback promotions made it the bank for those who had never had an account.

In March 2026 ueno reported a capital ratio of 15.01%, above the 12% minimum. According to Paraguayan media, the BCP began reviewing the bank on June 5, and the subsequent inspection found weaker liquidity and a need for provisions. In October a Superintendency report leaked about loans to the group’s own companies above the legal limit. The shareholder announced a capitalization of US$ 100 million (US$ 50 million in November), which did not prevent the intervention. The Paraguayan Public Prosecutor’s Office opened an investigation.

What is suspended

• ueno app: offline.
• ueno debit and credit cards: non-functional.
• Transfers, withdrawals, and payment orders from the bank’s accounts: suspended by law during resolution.
• Branches: in Ciudad del Este, hundreds of customers found the Avenida Julio César Riquelme branch in Ciudad Nueva (km 7) closed, with a Superintendency notice on the door.

Who has money in ueno: what happens

Up to ₲ 228.3 million, the money is guaranteed. The Deposit Guarantee Fund covers up to 75 minimum wages per depositor, which equals ₲ 228.3 million. At the November 3 exchange rate, this is about R$ 212,000 or US$ 39,000.

Three important details:

1. The limit is per person and per bank, not per account. A person with savings, checking, and investment accounts at ueno sums everything, and the ceiling applies to the total.
2. The guarantee applies to foreigners. It covers individuals and entities, Paraguayan or foreign. A Brazilian living in Foz who has an account at ueno for work in Ciudad del Este is covered the same way.
3. Above the ceiling, there is no immediate repayment. The excess goes into the bank’s liquidation, and those with higher balances become creditors and receive whatever remains of the assets, in the order set by law.

The BCP estimates that the fund covers 97% of savings accounts. The initial deadline is 15 days, until November 17, and can be extended for another 15. The BCP’s preferred solution is to transfer the guaranteed deposits to a healthy bank so that the customer can resume using the account without having to withdraw and open a new one elsewhere. The Paraguayan government confirmed it is negotiating with a bank interested in absorbing the operation, but the name was not disclosed at the time of publication.

Debts do not disappear. Loans, installments, and ueno card bills remain valid. The BCP will inform where and how to pay.

IPS retirees: the institute guarantees that more than 32,000 retirees receiving payments through ueno will receive them on time, but they need to re-register and open an account at another bank.

And who will shop in Ciudad del Este?

For Brazilian or Argentine tourists, the effect is less than it seems:

• Your card is not from ueno. Credit or debit cards issued by a Brazilian or Argentine bank depend on the issuing bank and the merchant’s terminal. The intervention affects only cards issued by ueno.
• Merchants feel it. Asimcopar, a Paraguayan trade body, says that two out of three electronic transactions at multi-stores are made with ueno accounts, i.e., by Paraguayan buyers. A store that receives payments through ueno may also have its receipts frozen. Bring a second form of payment.
• The account expires near Black Friday. The 15-day period ends on November 17, two days before Ciudad del Este Black Friday (Nov 19-22). If extended, the deadline falls in the middle of the promotion.

To pay without relying on a card, see how to pay in real or Pix in Paraguay and where to exchange money in Ciudad del Este. The day’s rate is in /dados/cambio.

What to do now if you are a client

1. Do not accept intermediaries. The BCP asks account holders to follow only official channels and ignore rumors and offers to "advance" repayment.
2. Keep statements and receipts of your balance, if you still have access to them.
3. Track the depositors’ registration through BCP channels: this is how it is determined where each person receives the guaranteed amount.
4. Continue paying debts when the BCP informs the new channel.
5. If you receive salary through ueno, coordinate with your employer to open an account at another bank.

This article will be updated as the BCP announces the bank that will assume the deposits and the repayment schedule.