Accessing your cash in BA

[livingabroad]

Hi Everyone-
Any tips on best/most economical way to access your cash in BA? I've heard there is a bank in BA that does not charge an ATM withdrawal fee from international accounts. Does anyone know if this is true and which bank it is? We also heard AMEX has an office in BA where you can cash in your AMEX travellers checks with no fee. Would welcome any advise.

Thanks!

 

[BlahBlah]

Bring 9900 dollar with you. Pay your rents with dollars and withdraw the peso's you need for daily life

 

[steveinbsas]

Hi Everyone-
Any tips on best/most economical way to access your cash in BA? I've heard there is a bank in BA that does not charge an ATM withdrawal fee from international accounts. Does anyone know if this is true and which bank it is? We also heard AMEX has an office in BA where you can cash in your AMEX travellers checks with no fee. Would welcome any advise.

Thanks!

Work out a lot before your arrival so you can run to catch the pick pocket that swiped you wallet.

Seriously, Charles Schwab does not charge ATM fees and it is possible to make ATM withdrawals in higher amounts that with banks that charge fees ($300 vs $600 pesos at most ATMs). You need to open a Charles Schwab brokerage account to get the ATM card, but you won't ever have to buy stocks or make any other type of investment. Their CSR's are the best I have ever encountered.

If you have an American Express card I believe that you can cash personal checks drawn on US banks at their office, but if you receive pesos you will probably be charged the normal conversion fee. I'm not sure about the traveler's checks, but if they are in dollars you might have to pay a conversion fee as well if you want pesos.

 

[tangobob]

It all depends on your bank. You can withdraw free if you have an HSBC account, but only on a debit card, if you use a credit card they will fleece you.
There are other banks you can withdraw but you should check first before you leave.
Anywhere where they say no commision will make up the costs with a big spread, these places rely on ignorancen and make loads of money out of the unwary. Always check the buy and sell rates before you exchange money.
Travellers cheques are an expensive way to carry money, you pay at both ends, clear it with your bank to use your debit card, they almost always have the best rates, usually do not charge commision and often do not charge for the withdrawal.

 

[steveinbsas]

Does AAA still offer free AMEX travelers' checks?

 

[RWS]

Does AAA still offer free AMEX travellers checks?

Yes, it does. 'May vary from chapter to chapter, though.

 

[EMR]

Steve is correct on Schwab, I have their account also and they reimburse all ATM fees worldwide. He is wrong on American Express. Their office is on Arenales in front of Plaza San Martin, if you have a Platinum or Centurion card they will give you 5000 dollars per month on a cashed check from a US based account. They do not charge any fees and you can get dollars. I do this all the time.

I have found Schwab is the best for small transactions and for pesos and AMEX is the best for dollars.

 

[steveinbsas]

Steve is correct on Schwab, I have their account also and they reimburse all ATM fees worldwide. He is wrong on American Express. Their office is on Arenales in front of Plaza San Martin, if you have a Platinum or Centurion card they will give you 5000 dollars per month on a cashed check from a US based account. They do not charge any fees and you can get dollars. I do this all the time.

I have found Schwab is the best for small transactions and for pesos and AMEX is the best for dollars.

Isn't there a "conversion fee" when you change dollars to pesos, even at AMEX?

 

[desertrose]

Xoom.com also offer reasonable rates, especially when sending money from a US bank account. Granted the exchange rate is not the best but for me it's still the cheapest option to get cash.

 

[EMR]

If you convert dollars to pesos at amex they give you the days interbank rate which is in between the normal buy sell. But you do not have to get pesos. I use schwab to get pesos out of the atm because there are no fees but if I need dollars, I go to AMEX. Amex will give you dollars, I have cashed more than 10 personal checks there over the last year and have walked out with 5k in dollars (100's) each time. The limit is 5k per calendar month. SO if you take dollars, no fee at all.