ATM machine only gives me 1 USD - 33 peso exchange rate

[Fiscal]

Tries two different banks. Is this simply the going rate at any cajera? Is there a better way to get cash while in Argentina?

 

[Neil]

Tries two different banks. Is this simply the going rate at any cajera? Is there a better way to get cash while in Argentina?

Is the going right right now....

 

[Somewhereinba]

You should be able to get the the compra rate at most banks selling cash.. Most average a 2 peso spread which is also theft...
https://banco.santanderrio.com.ar/exec/cotizacion/index.jsp

These days the blue rate is worse/similiar to official so dollars hold a lot less value. The best option if requiring cash is ATM with a card that refunds the $9 USD + ATM fee.

 

[steveinbsas]

I initiated a $900 USD transfer)with Transferwise at 4 AM this morning and received this message at 5:12 AM:

We’ve just received your money. Now we can start your transfer of 900 USD to ARS.

At 10:22 I received this message:

$34,097.41 ARS is on its way to you. The money should be in the bank account by today, December 27.

We sent 34097.41 ARS. The rate for your transfer was 1 USD → 38.546 ARS.¨

I checked my Santander Rio account at 1 PM. The funds had been deposited.

Even with the $15.41 USD charged for the transfer, the net rate was still slightly over $38,50.

 

[Jed]

These days the blue rate is worse/similiar to official so dollars hold a lot less value. The best option if requiring cash is ATM with a card that refunds the $9 USD + ATM fee.

This is dead on. My guess is that you are calculating the peso fee + withdrawal amount of pesos and dividing by the USD withdrawal amount? You'll prob end up with about 33/34. With a card that refunds those fees you should be getting 38-ish right now.

 

[Somewhereinba]

I initiated a $900 USD transfer)with Transferwise at 4 AM this morning and received this message at 5:12 AM:

We’ve just received your money. Now we can start your transfer of 900 USD to ARS.

At 10:22 I received this message:

$34,097.41 ARS is on its way to you. The money should be in the bank account by today, December 27.

We sent 34097.41 ARS. The rate for your transfer was 1 USD → 38.546 ARS.¨

I checked my Santander Rio account at 1 PM. The funds had been deposited.

Even with the $15.41 USD charged for the transfer, the net rate was still slightly over $38,50.

34097.41/900 = $37.89 net rate - pretty much the same as what banks/blue are offering with their 2 peso spread.