Mercado Pago Chile review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Mercado Pago Chile pays a variable headline rate of up to 5% on balances you can draw down at any time, with no monthly fee. It suits people in Chile who want everyday spending and savings in one account rather than a fixed term deal.
Key facts
- Best for
- Keeping everyday money accessible while it still earns interest.
- Headline rate
- up to 5%↗
- Rate type
- Variable↗
- Access terms
- Balance always available to use; returns accrue daily↗
- Monthly fee
- CLP 0↗
- Account kind
- Easy access↗
- Legal entity
- MercadoPago S.A.↗
- Headquarters
- Chile↗
- Support channels
- Help-centre↗
- Pricing model
- No monthly fee
- Official website
- mercadopago.cl
Facts checked September 26, 2026, 1 source
Apps and profiles
- Get the app
- Google Play
- Elsewhere
- LinkedInXfacebook.com
Pros and cons
Pros
- A variable headline rate of up to 5% sits above the savings account median of 3%
- No monthly fee, so nothing is deducted for holding the account
- Your balance stays available to use, and returns accrue daily
- A single balance covers both saving and spending, which suits everyday money management
Cons
- The rate type is variable, so the headline rate can change over time
- Support runs on help centre only, with no live chat or phone line listed
- A single market means the balance is tied to Chile rather than spread across other markets
Who it suits
- People in Chile who keep everyday spending money in one balance
- Savers who want access at any time instead of a fixed term
- Users who want a easy access account with no monthly cost
Who should look elsewhere
- bunq, if you want a stated fixed rate rather than a variable one
- Finteres, if a broad rate range suits you better than a single headline figure
- Wise, if you need to hold and move money across several currencies
Rates and card terms
The headline rate is up to 5% and the rate type is variable, so the figure can shift rather than staying fixed for a set period. That flexibility suits money that may be needed without warning, but it also means the return is harder to plan around. The account itself carries no monthly fee, so holding your balance costs nothing. For comparison, bunq pays 3.01% and Wise pays 3.29% on their interest products.
The company behind it
The account is run by MercadoPago S.A., which is headquartered in Chile. Support is offered through a help centre, meaning help is written rather than spoken, and questions are handled in the same language as the account interface. There is no deposit protection scheme listed, so money held here sits with the provider rather than under a stated protection arrangement.
How Mercado Pago Chile compares
Where Mercado Pago Chile is available
- Available
- Chile
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
How much interest does Mercado Pago Chile pay on my balance?+
The account pays a variable rate with a headline figure of up to 5%. Because the rate type is variable, the amount you earn can change over time rather than staying fixed. For reference, the median headline rate across savings accounts is 3%.
Does the account charge a monthly fee?+
No. The model is no monthly fee, so there is no monthly charge for holding the balance. That makes the account straightforward to keep open, though other charges can still apply to specific payments or services.
Can I get at my money whenever I want?+
Yes. The access terms state that your balance is always available to use, and returns accrue daily rather than being paid at the end of a fixed period. The account kind is easy access, so it works as a place to keep money you may need quickly.
How do I get help if something goes wrong?+
Support runs through a help centre, which gives you written answers in your own time. There is no live chat or phone channel listed, so a question that needs a quick conversation can take longer to resolve.
Is my money protected by a deposit scheme?+
No protection scheme is listed for this account, so your balance is held by the provider rather than covered by a stated compensation arrangement. The account is provided by MercadoPago S.A. in Chile, so check the current terms before keeping a large sum there.
Who runs the account and where is it based?+
The provider is MercadoPago S.A., headquartered in Chile. It is a single market account, so the balance and the returns are tied to that market rather than spread across several of them.
How does the rate compare with other savings options?+
The headline rate of up to 5% sits above the savings account median of 3% and the broader savings median of 3.06%. bunq pays 3.01% and Wise pays 3.29% on their interest products, so the three sit in a similar band.
Can I lock in a fixed rate instead?+
Not with this account. The rate type is variable, so there is no fixed option here to compare. Finteres publishes rates running 0% to 36%, which spans a wider range if you prefer to weigh several figures before choosing.
Sources
- mercadopago.cl/cuenta checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Headquarters, Legal entity, Pricing model, Monthly fee, Rate type, Support channels
“Your money grows through Mercado Pago, with the services of Banco BICE, and is always available to use”
Compiled from 1 source page, checked September 26, 2026. We did not open an account.
Not confirmed yet: Term, Minimum deposit, Deposit protection.