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How To Bring In Dollars And Exchange For Pesos


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17 replies to this topic

#1
simonmicheal

simonmicheal
Hi everyone,

I need to bring in about $3000 dollars a month to live on, thats what I feel I need to live on comfortably with the ever increasing cost of the city.

There must be other expats in Buenos aires who transfer dollars for pesos, how is it possible at the moment other than trips to Uruguay or using sites like zoom that kill you in the exchange rate.

Why is it not possible to open an account in Buenos aires and transfer dollars into that account in exchange for pesos ?

Advice thanks

#2
Tres Picos

Tres Picos

simonmicheal, on 20 March 2017 - 01:59 AM, said:

Hi everyone,

I need to bring in about $3000 dollars a month to live on, thats what I feel I need to live on comfortably with the ever increasing cost of the city.

There must be other expats in Buenos aires who transfer dollars for pesos, how is it possible at the moment other than trips to Uruguay or using sites like zoom that kill you in the exchange rate.

Why is it not possible to open an account in Buenos aires and transfer dollars into that account in exchange for pesos ?

Advice thanks

How much do you plan to bring in all?
What about selling Bitcoin?

#3
simonmicheal

simonmicheal
How much do you plan to bring in all?

$3000 a month

What about selling Bitcoin?
No schemes like bitcoin or zoom, just advice on bank transfers or some other simple transaction
Thanks

#4
gostomper

gostomper
Pretty sure you can get dollars out of the atms. BBVA Francés ATMs at Bonpland and Santa Fe (in Palermo) has dollars as I recall though I'm saying that I noticed while using using my US card. The financial system is becoming more open in Argentina under Macri.

If you want to just take money out of your US account in Pesos the exchange rate is whatever VISA's exchange rate is or MasterCard's is if that's what your card is. You can look it up but it is always very very close to exact official exchange rate.

Other than that just start off with bringing $9,999 in cash with you.

#5
Tres Picos

Tres Picos

gostomper, on 20 March 2017 - 03:16 AM, said:

Pretty sure you can get dollars out of the atms. BBVA Francés ATMs at Bonpland and Santa Fe (in Palermo) has dollars as I recall though I'm saying that I noticed while using using my US card. The financial system is becoming more open in Argentina under Macri.

If you want to just take money out of your US account in Pesos the exchange rate is whatever VISA's exchange rate is or MasterCard's is if that's what your card is. You can look it up but it is always very very close to exact official exchange rate.

Other than that just start off with bringing $9,999 in cash with you.

What are the USD/ARS ATM limits?

#6
simonmicheal

simonmicheal
So can go the atm and draw out 48000 pesos ? or 3000 dollars

#7
Serafina

Serafina

simonmicheal, on 20 March 2017 - 11:35 AM, said:

So can go the atm and draw out 48000 pesos ? or 3000 dollars


Sure, go and repeat 10x times at least, and pay ATM fees for each of them.
"Life is what happens while you are busy making asado." - Juan Lénon

#8
simonmicheal

simonmicheal
That's probably worth while if your travelling through Buenos Aires or on holiday here, but i don't think its a great solution if your living here. Spending days at the atm drawing money out and suffering huge atm costs is no the best solution.

#9
Macanudo

Macanudo
You can have someone in the states send you $2999. every three months using Ria money transfer. There is a $10 fee if it is sent directly from a bank account. You can pick it up in dollars or pesos and the peso rate is not bad.

#10
Sockhopper

Sockhopper
I guess you're not a legal (temporary) Arg resident and therefore can't have an Arg peso account to which your foreign bank can be instructed by you to transfer a set sum of $US to it monthly with Arg deciding the FX rate? In all countries I've lived in, atms are the only method available when you're not a legal resident eligible to open a domestic bank account where you now live.

In 2012 for a foreigner who applied for Arg residency as a pensionista, part of the deal involved our bank in NA formally agreeing to send monthly - forever? - around $US3000 to our prospective and required Arg bank account with Arg deciding the FX rate. That avoids Arg's atm fees but complicates one's tax situation.

We retired to Europe instead. So while what we were going to do by moving to Arg was something we could handle and wanted to, now 5 years later, we're glad we didn't. Arg's financlal situation and those killer atm fees are beyond our capability.

Because of Arg's atm refusing to even sell pesos to many visitors, what guarantee is there now that an Arg bank would even let  us HAVE our $US3000 a month our 'home' bank kept on transferring to our Arg account? We could become homeless there. Even if my hunch is extreme or off, the fact that fear exists in me is enough to make me not move there. I've been trying all this year to find a dependable way to spend just 3 months in BA without using cuevas etc to access enough cash for a decent stay. I've completely failed at this goal.

We can't carry 1/4 of a year's living money in foreign cash on us. And I don't want to live off credit cards while there. I don't want cards dictating where I can and can't eat, shop, dance or visit. So I'm giving up on a holiday. Arg has turned even a holiday the length of a tourist entry into risks or headaches!  We sorely regret this result but. We miss many people there and the things we did.




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