ATM woes

#1
Does anyone have a solution to the high costs of ATM peso withdrawals. I have my money in a US bank and whenever I withdraw pesos there are 3 painful problems: 1. I can only withdraw a total of 320 pesos at a time...If I need more I have to withdraw again and am charged again.
2. I am charged 3 dollars for each withdrawal regardless of amount. This is because it is a non-Chase bank withdrawal.
3. I am further charged a currency exchange fee of $3.50.....
OUCH that's over 6 bucks per withdrawal....Any recommendations out there?
thanx....
Greg
 

Bill

Active Member
#3
This is the first I've heard of a banking problem such the one you describe.
It does sound like a dilemma. If the withdrawls are limited in amount, you are forced to make more withdrawls, thus incurring more bank fees. This could really add up! Just in bank fees!!
I would suggest you talk to the bank managers and request a change in their policies. I've always found bank employees in Argentina to be helpful and courteous.
 
#4
Banco Piano will cash your personal checks. You have to build a relationship with them so at first they will only let you cash a 300 dollar check. They charge 2% percent. So if you want 300 you write a check for 306 and you get 300 dollars, no pesos involved. After a few 300 dollar checks you can ask to talk to the manager and they will raise your limit. So you will be paying 2 bucks for every 100. It may be a better deal.
 
#5
this is a subject we have done to death on this site, but anyway.
I spoke to several institutions about this problem and made a formal complaint to Lloyds of London and then to Visa international. Visa international told that it was Apparently Visa Argentina that was doing this to my withdrawals and it was for this reason that my bank Lloyds said they could not waiver the charge because Visa argentina were taking it!
This is an Argentine scam it has nothing to do with our banks overseas. When I wrote a while back on another thread with regard to this problem and that we need to make a serious noise about this and I said if enough of us made a demonstration I would organise media coverage of this demonstration. I was promptly accused on this site of trying to cash in. Which is bollocks as I said there was no money in a news story for me.

Anyway there is only one way to change this and that is for ALL of us to get together and DO something about it. This sacm is set up to frisk foreigners that live by their ATM withdrawels. As I said before (yawn), how many argentines draw out more than three hundred pesos on a regular daily basis?.................NONE!
 
#7
thank you all for your replies....indeed a revolt would be in order although I have no idea how to do this at present...as for Banco Piano...I am afraid there are no branches here in La Cumbre where I live...finally thanx for the Commerce bank suggestion...I'll look into it as an alternative to Chase...thanx NJ....
 
#8
Yesterday I checked my online bank statement and saw that Banco Suquia has been charging me a $4.00 fee for withdrawals and Standard Bank is taking out almost $5.00 per transaction! This month I ended up paying over $40 in fee - on top of the $10 that my bank charged me for using a non-network ATM.
The next few months I'll be withdrawing a lot of $$ since I'm having my wedding in March and have to pay a lot of people a lot of money. Anyone have a cheaper idea of how I can get my money out??