ATMs that still dish out dollars?

[surfing]

Does anybody have the lowdown on dollar account options in Colonia?

No idea but people living here on the long term while living on a foreign income (whether active/passive) and needing absolutely dollars should open a multicurrency account in Uruguay.

 

[French jurist]

Does anybody have the lowdown on dollar account options in Colonia?

I had enquired myself about opening one in Uruguay, and HSBC's conditions semt fine to me (just have to keep 1.000USD on the account, multicurrency and for a monthly 5USD you get a Visa card). That was three years ago and I believe the legislation has changed a bit (tightened) but still, it still seems possible.


As for Colonia, I don't know how many banks are available there (I recall a big old building on the main street hosting a bank).

Formalities to open an account include getting a statement from a local accountant (in Argentina) and such things (Banks customer services are efficient anyway so if you ask 10 of them, you'll get a good figure).

Obviously, Uruguay ranking among the most opaque banking offshore places, be aware not to put yourself in trouble in your own country (in France, we have an obligation to declare foreign accounts, for the people residing there of course).

 

[Carlota]

Is there any problem selling US $ at casas de cambio or elsewhere?

Sadly, and unbelievably, yes. There are problems...

My grandmother just went to exchange US$200 for pesos at a casa de cambio in Palermo and the guy at the counter was acting all nervous, told her that if he got intercepted in the street by AFIP people (apparently they were standing at the street corner) to explain that she was there to get some artwork appraised (WTF? I still cannot believe this)...

So I guess my conclusion is that there is an unspoken prohibition (and persecution) on the trading of foreign currency...not only for buying dollars, but also for selling them. I wonder why.

 

[French jurist]

Then you owe me! I will settle for Pomegranets, do you still have any left on the trees?

I owe you, I owe you... But you are in the Southern Hemisphere now and Pachamama needs some time to bring you those nice fruits (never used them last year, don't really know what to do of them).

The figs are ready though... miummy

 

[AlfajorEfi]

True...but I will accept figs too

 

[elclandestino]

No idea but people living here on the long term while living on a foreign income (whether active/passive) and needing absolutely dollars should open a multicurrency account in Uruguay.

Do you know anyone reliable who can take care of this?

 

[slater]

Do you know anyone reliable who can take care of this?

Regulations have really tightened circa mid 2010.
Seems residency is required at several banks, if not all.
There is an expat board for Uruguay which addresses banking and the BROU.
http://www.sociedadsouthron.net/forums/

Hope you can find a way to open an account soon.
Wish I can be of more help.

 

[kroberts03]

Can you still get a local dollar bank account?

It is still possible to get a local bank account in USD but it does no good. I opened up a local bank account in USD about a week and a half ago. I sent money from my US bank account to this account last week & was told that it would be changed into pesos and I would not get the dollars. To me this was quite surprising and made no sense as I was originally told that I could withdraw USD from this account, but obviously not the case. The USD option on the ATM in Argentina I am told does not work. I have also heard that going to an ATM in Uruguay an individual can withdraw USD.

This is such a hassle!

 

[citygirl]

If you have a local bank account in dollars, you can indeed take out dollars. However, when you send money into Arg from out of the country - it clears through the central bank. Which means it goes from dollars to pesos and then once it is released from the Central Bank, it is converted from pesos back to dollars. So you do lose from converting 2x.

(Or at least that's how it works with business accounts).