ATM Limits and Best Banks. LOST

[SaraSara]

Really? I have 2 local accounts opened with nothing more than a 3 month tourist visa..however that was in 2003..oh the good old days of Argentina!

Hang on to those accounts for dear life - regulations have changed and that is now ancient history.

I returned to Argentina in 2005 - although an Argentine citizen, I was a US=resident so I was not allowed to open an account in any bank.

 

[fifs2]

I am not joking when I talk about the good old days..for us foreigners at least who have enjoyed an Argentine flexibility with certain regulations that simply wouldn´t exist in other parts of the world....I`ll rent you one of my account sarasara for a large monhly fee

 

[dennisr]

I get my money (pesos) from the ATM machines, from a foreign account. A bank that has nothing to do with Argentinian banks

You withdrew your pesos from an Argentine bank’s ATM which is operated by one of two Argentine bank organizations authorized to operate ATMs in Argentina.: RedLink or Banelco. The moment you received your pesos, RedLink or Banelco basically loaned you the money on the promise your foreign bank would reimburse RedLink or Banelco: authorization. At the end of the day, all transactions are computed by Banelco/ RedLink and submitted to one of two clearing houses in Argentina for settlement. No matter how you cut it, all ATM transactions in Argentina go through an Argentine bank: Banelco/RedLink.

 

[SaraSara]

I`ll rent you one of my account sarasara for a large monhly fee

Thanks for the offer, but a friendly bank manager solved the problem by reactivating our old checking account, dormant for several years. Nothing like the personal touch to get the gears working.

 

[katti]

You withdrew your pesos from an Argentine bank’s ATM which is operated by one of two Argentine bank organizations authorized to operate ATMs in Argentina.: RedLink or Banelco. The moment you received your pesos, RedLink or Banelco basically loaned you the money on the promise your foreign bank would reimburse RedLink or Banelco: authorization. At the end of the day, all transactions are computed by Banelco/ RedLink and submitted to one of two clearing houses in Argentina for settlement. No matter how you cut it, all ATM transactions in Argentina go through an Argentine bank: Banelco/RedLink.

that might be true, but i don't have an account here...

 

[PhilipDT]

You withdrew your pesos from an Argentine bank’s ATM which is operated by one of two Argentine bank organizations authorized to operate ATMs in Argentina.: RedLink or Banelco. The moment you received your pesos, RedLink or Banelco basically loaned you the money on the promise your foreign bank would reimburse RedLink or Banelco: authorization. At the end of the day, all transactions are computed by Banelco/ RedLink and submitted to one of two clearing houses in Argentina for settlement. No matter how you cut it, all ATM transactions in Argentina go through an Argentine bank: Banelco/RedLink.

Or you can go to Citi and use their non link/banelco atm.

 

[katti]

Hang on to those accounts for dear life - regulations have changed and that is now ancient history.

I returned to Argentina in 2005 - although an Argentine citizen, I was a US=resident so I was not allowed to open an account in any bank.

My husband opened an account in 2006 in BNPparibas with a tourist visa. Now they are Santander, and they told us that normally you need a DNI to open an account with them, that BNP was an exeption on the general rule, but, as he already had this account for so long, they agreed to take it over (without questioning it).
When I tried to get a 'poder' on this account they said it was impossible, for the same reason : I don't have a DNI. But they know me in the bank so when I want to deposit money, they let me, they just give in my husbands name althouth they know it is me. Payments I do over the internet, and if I need money, I use my husbands debit card...

 

[bradlik]

OK so between all the conflicting information it worked!

If you want to withdraw a large amount of cash at once and not get stung with fees at your bank at home, go to superveille bank on the corner of Entre Rios y Av Belgrano. I went today and withdrew 7000 pesos in one transaction with a $8 fee in my bank. It was GREAT! Finally I know how it works. Take your passport and Credit Card or Debit Matercard or Visa and they will do it straight away, took me 5 minutes.

As for Bank accounts you can open here as a tourist. You need a Certificado de Domicillio and a CDI number, I got this all organised in one morning, last Friday. However, you cannot wire money to this account from overseas as they will tax 30% if you do not have a DNI. However you can use as normal here if you have the cash. I opened at HSBC.

Thanks for your advice!!

 

[citygirl]

You're very lucky that HSBC opened it for you - that is certainly not the norm.

And just an FYI - they don't "tax" you 30%. The Central Bank holds it for one year and then releases the funds.

 

[SaraSara]

In my view, it is safer to get money from ATMs whenever possible. There are professional "spotters" in bank lobbies, stationed to mark people getting large amounts of cash from a teller. That's the way they got Carolina Piparo in La Plata.