20 Pesos

Banco de José Bunster was a private regional bank operating out of Temuco, serving the agricultural economy of Chile's Araucanía frontier during a period of active land settlement following the military campaigns against the Mapuche in the late 1870s and early 1880s. Its notes were never widely circulated beyond the region, which partly explains the difficulty in locating surviving examples today.

The American Bank Note Company plate work is consistent with Chilean provincial private bank commissions of the period — competent but not among the firm's more elaborate productions. Chile's 1898 Ley de Bancos reforms effectively ended the era of regionally chartered private note-issuing banks, and Bunster's issues ceased accordingly.