Post Number: 1
|Posted on Monday, April 09, 2007 - 10:50 pm: |
I am 19 years old and I am spending 3 months in Buenos Aires starting May 2nd. I am taking intensive spanish classes at the University of Buenos Aires. I am living with a family, and I was wondering how the neighborhood was.
Zapata 207, Buenos Aires, C1426AEC, Argentina
That is the address, if you have any information about this neighborhood, I would really appreciate it.
Also, I have a checking account here in the states that my mom deposits money into. I was wondering how American banks work with ATMs in Argentina. Will I have the option to take out 60 Pesos and then it charges my bank $20? Or will I elect to take out $20 then it gives me about 60 pesos? Thanks for the help
Post Number: 1070
|Posted on Monday, April 09, 2007 - 11:26 pm: |
Hi George and welcome.
I don't recall Zapata street... Perhaps someone else can chime in. Is that the neighborhood between Belgrano/colegiales and Palermo viejo. If so, it's a quiet place with not much going on but not too far from the action. It may a lil' far away from public transportation but I am just guessing and may have to look at a "filcar" map.
ATMs will only give pesos, even if you choose "dollars" as currency when using them. They will convert the money at the exchange rate of the day. When I am down there I take pesos and it shows up in dollars in american bank statements. Beware of the transference costs. They have become really high now. BofA may charge anywhere from $5 to $9 per individual extraction.
Post Number: 4
|Posted on Tuesday, April 10, 2007 - 8:39 am: |
As my ATM card didn't work on the 3rd day of my arrival, I had exchange some USD in a bank. The hotel had suggested that I may get someone to bank in the money in West Union then I can have them draw in Buenos Aires thru the West Union office here. Not sure if it helps and appreciate Roberto's input.
Post Number: 21
|Posted on Tuesday, April 10, 2007 - 8:49 am: |
I use Netbank for all my personal banking. It is the world's largest internet only bank. It charges no fees and pays good interest on checking and savings balances. More significantly it does not charge an ATM or currency conversion fee for using a foreign ATM and I have been able to use it throughout Argentina without a problem. I typically withdraw 500 pesos in a shot and that lasts me for quite a long time. I like the Bank Boston branch on Viamonte Street because it has a nice secure lobby with a guard during the day and it is also accessible at night. You should always call your bank before you leave for a trip or extended stay in Argentina and find out what fees they charge for foreign usage and what ATM services they use. If they charge excessive fees or have limited ATM coverage it would be time to shop around for a new bank or at least a bank to use when you travel. Hope that helps in the future.
Post Number: 1072
|Posted on Tuesday, April 10, 2007 - 12:11 pm: |
Bill, good information... are you keeping any funds at all in their advertized CDs?
Post Number: 5
|Posted on Friday, June 29, 2007 - 4:52 am: |
My son is a non-Argentinian citizen living in BA. He wants to open a bank. This seems to be an incredibly bureaucratic and expensive process. Does anyone know the exact procedure: which bank is best to use? which documents does he need? How long does it take? Is it possible to withdraw US$ from any bank in BA?
Would greatly appreciate any help.
Post Number: 1181
|Posted on Friday, June 29, 2007 - 11:06 am: |
He can withdraw pesos from any ATM machine from his american accounts using his american debit cards. Dollars will be converted automatically into pesos at the daily exchange rate. Unless things have changed, yes, it is difficult for a foreigner to open a bank account as one of the documents required is the DNI which provides proof of residence. The shortest route to overcome this is:
1. bring in enough cash.
2. use american debit cards on ATMs (at a cost)
3. disount checks from an american bank at an exchange house.
When it comes to financial systems Argentina is way behind. Maybe there are workarounds but I don't know them.
Post Number: 37
|Posted on Friday, June 29, 2007 - 12:08 pm: |
JohnEO - By law the only requirement for opening a bank account in Argentina is to have a CDI number (tax number), proof of address and a passport (or national identity document). But different banks have their own specific account-opening requirements and often require far more than this. However it's worth asking around.
If you son already has banking facilities with a global bank that has branches in Argentina (e.g. Citibank, HSBC etc.) then the Argentiniean division can probably be persuaded to open an account for him if he obtains a letter of introduction from his local branch in his home country.
However, account opening experiences seem to differ greatly - some foreigners have found it very easy whilst others have found it almost impossible.
I hope this helps.
Author, The Complete Guide To Real Estate Investment in Argentina, ISBN 1430303980, http://www.amazon.com/exec/obidos/ASIN/1430303980
Post Number: 2
|Posted on Tuesday, July 17, 2007 - 7:18 pm: |
we bank with HSBC and we have no problems when it comes to taking money out. we are given a limit of 1000 pesos/day. however we can use it with BANELCO banks and not with LINK.
we were going to open an account with HSBC Argentina but they told us we needed our DNI's to open an account with them.
Post Number: 416
|Posted on Saturday, July 21, 2007 - 2:47 pm: |
welcome to the forum Lara
Do you live in Buenos Aires?
Post Number: 3
|Posted on Saturday, July 21, 2007 - 6:21 pm: |
i live in mendoza. i wanted to open an argentinian account cause everytime i take money out it costs me 3 dollars. (thats a butt load of alfajores mmmmm alfajores)