You can get to Uruguay by bridges, too, but it takes a lot longer if you're coming from Buenos Aires or going to Montevideo, and you can't get there from Paraguay without crossing into Argentina or Brazil first. Montevideo was presumably brought up because Argentines bank in Uruguay, not Paraguay. Nobody banks in Paraguay.
I have availed my self of using a Paraguay bank. Seemed fine to me. I do not have a account there. They exchanged my USD for any peso I like just fine.
Is there a reason why no one banks in Paraguay? There is a dude standing by the bank with a shotgun waiting to blow the head off of any robber, I felt very safe there and their service was quite professional and honest. More so than the street exchangers. I wouldn't have hesitated to open an account there if I needed to.
The dude standing by the bank with a shotgun isn't going to accompany you even to your AirBnB, much less until you leave the country. He needs to be there to keep people from robbing the bank, but it's not his problem if someone follows you home from the bank and robs you there.
There may be other reasons. Here in Argentina 21 years ago the government confiscated all dollar-denominated bank deposits and replaced them 1-to-1 with pesos, which you weren't allowed to withdraw more than a few at a time, so you had to watch helplessly as your money lost 75% of its value overnight. If I had to guess which South American countries something like that would happen in next, I'd pick Venezuela, Bolivia, Paraguay, and Argentina again, in that order. But that's not because I have deep knowledge of Paraguayan politics, so I could be wrong.
I brought it up because it’s close to Buenos Aires and because I’m under the impression that Uruguay is a pretty well run place. I’m assuming there to already be a lot of connections, personal and trade, between the two metro areas. I’ve never been to either and anything beyond geography is guesswork on my part. Anyway, thanks for the clarifications :)
