Post Number: 12
|Posted on Sunday, October 15, 2006 - 1:06 pm: |
Is it best to use USD cash, pesos or credit cards to pay for stuff in Argentina? Which do you get the best rate?
Is it advisable to bring USD travelers checks or are they not widely used?
Post Number: 782
|Posted on Sunday, October 15, 2006 - 2:58 pm: |
Traveler checks are not widely used. Credit cards may pose some problems in that some stores require a minimum purchase. However, you can use your debit cards to get cash from many ATM machines everywhere. Be aware of the costs. In my last trip, BoFA charged me usd $12 per usd $700 extracted. You don't need to bring pesos with you, just exchange your dollars in any of the exchange houses in downtown (or any of the Banks). Never do this with the street guys. So briefly, cash from ATMs (automatically changed to pesos) or exchange dollars at Banks.
Post Number: 228
|Posted on Sunday, October 15, 2006 - 3:34 pm: |
Credit and debit cards will get you the exact exchange rate that is applicable at the time the transfer is processed.
Debit card use will entail a foreign exchange rate fee and so will changing dollars at the street vendors.
I have exchanged dollars for pesos at banks several times and have not been charged any fees.
Exchanging travelers checks is very difficult. American Express has an office in Buenos Aires where you can change theirs but there is a fee chraged. Been there, done that also.
So, I recommend changing dollars to pesos at banks or using credit cards where they are accepted.
I have actually gotten better rates by using dollars at merchants back when the peso was in the 2.9 area and the vendor used 3.0 as the rate. This doesn't happen often. Ask the vender what his rate of exchange is, they will vary.
Some vendors will not take dollar bills for some reason but I have never been refused the purchase when I had a $20 dollar bill.