Bank Conversion Rate ?

zensailor

Registered
Quick question.....how can I determine a banks conversion rate BEFORE I hit the ATM ?.....in addition to the obscene transaction rate, the banks conversion rates are becoming significantly less than the '' official'' rates and the only point I am aware of their '' clip '' is after I get my paltry 2400 pesos......how can I find out beforehand so I can at least minimize the abuse ?????......thanks in advance
 

nikad

Registered
Quick question.....how can I determine a banks conversion rate BEFORE I hit the ATM ?.....in addition to the obscene transaction rate, the banks conversion rates are becoming significantly less than the '' official'' rates and the only point I am aware of their '' clip '' is after I get my paltry 2400 pesos......how can I find out beforehand so I can at least minimize the abuse ?????......thanks in advance
This site will show you by bank daily http://www.infodolar.com/
 

zensailor

Registered
Thx, I guess......Unfortunately, I can't avoid needing access to my money, no matter where in the world I happen to be.....here, the banks are allowed ( encouraged ? ) to be abusive in the unrealistically low transaction limits, the excessive transaction fees, and the "clip" they take.....all of these stack up in a captive transaction, and they have legislated ( or neglected to legislate) a legitimate solution....banks are entitled to profits for their risks.....not obscene and redundant fees in order for me to access my own money..........BTW....i have found conversion stats posted in the lobby, but they never match what I receive...happy big-banks seem to be a linchpin in Macri's '' age of happiness ''.
 

gracielle

Registered
zensailor....[background=rgb(252, 252, 252)]happy big-banks seem to be a linchpin in Macri's '' age of happiness ''[/background]

[background=rgb(252, 252, 252)]These banking practices have existed in ARG long before Macri became president. I, as many other US citizens/residents, get each ATM fee reimbursed at 100% at the end of every monthly banking cycle when utilizing[/background][background=rgb(252, 252, 252)] a Schwab debit card worldwide. They provide great customer service via tel and/or internet communications.[/background]

http://www.schwab.co...hecking_account
 

earlyretirement

Registered
There are several banks in the USA that will reimburse ATM fees. Just google "banks that reimburse ATM fees". There are several out there. Without it, you'll get killed on fees. Only being able to withdraw 2,500 pesos at a time and being charged 94 pesos ($6 US) is pretty crazy.
 

zensailor

Registered
I have an excellent bank and long term banking relationship in the US, and really see no need to change that because the banks here are out of control.....I don't understand how an off-site financial institution can reimburse another bank for fees that are excessive, far beyond the industry norm, and collected in abuse of standard banking protocols......Hi, Gracielle.....you are right, but only to a point....Macri has gutted the country's reserves to cull favor with his financial overlords....in return, the banks can now charge ungodly fees, excessive interest, brokerage fees, servicing fees, unchallenged operating fees ( including executive compensation) for the bonds they are dumping into the market as a result of Macri's fiscal abdication.....so yes, the situation was not ideal prior to Macri, but he has sold the country out and enhanced the banks at the country's expense......Internationally, Macri is viewed as a chump..., and, under his watch, Argentina is a cash cow that they intend to exploit as much as possible
 

nikad

Registered
I have an excellent bank and long term banking relationship in the US, and really see no need to change that because the banks here are out of control.....I don't understand how an off-site financial institution can reimburse another bank for fees that are excessive, far beyond the industry norm, and collected in abuse of standard banking protocols......Hi, Gracielle.....you are right, but only to a point....Macri has gutted the country's reserves to cull favor with his financial overlords....in return, the banks can now charge ungodly fees, excessive interest, brokerage fees, servicing fees, unchallenged operating fees ( including executive compensation) for the bonds they are dumping into the market as a result of Macri's fiscal abdication.....so yes, the situation was not ideal prior to Macri, but he has sold the country out and enhanced the banks at the country's expense......Internationally, Macri is viewed as a chump..., and, under his watch, Argentina is a cash cow that they intend to exploit as much as possible
so you were just trolling? or you got addicted to local complaining really fast... it really is not on the government, it is on you. You move to a foreign country, the least you can do if your income or money is abroad is at least learn how this stuff works beforehand. Banks are banks everywhere and they take as much from you as they legally can.
 

gracielle

Registered
[background=rgb(252, 252, 252)]Nikad, I agree with your post. [/background][background=rgb(252, 252, 252)]You move to a foreign country, the least you can do if your income or money is abroad is at least learn how this stuff works beforehand. Banks are banks everywhere and they take as much from you as they legally can.[/background][background=rgb(252, 252, 252)] [/background]

[background=rgb(252, 252, 252)]But I don't consider zensailor to be a troll although his posts are few and far between. He and I had a conversation sometime ago at a BAExpats chat. [/background]

[background=rgb(252, 252, 252)]Hi, zensailor[/background]
[background=rgb(252, 252, 252)]I concur with this portion of your posting. I have an excellent 25-year relationship with my "primary" bank in the US. I did not close that account. I opened a "secondary" account with Schwab. [/background]

[background=rgb(252, 252, 252)]....I don't understand how an off-site fina[/background][background=rgb(252, 252, 252)]ncial institution can reimburse another bank for fees that are excessive, far beyond the industry norm, and collected in abuse of standard banking protocols[/background][background=rgb(252, 252, 252)]....[/background]

[background=rgb(252, 252, 252)]Schwab does not reimburse [/background][background=rgb(252, 252, 252)]another bank[/background][background=rgb(252, 252, 252)]. Their rebates on unlimited foreign ATM fees are reimbursed into MY Schwab checking acct. [/background]

[background=rgb(252, 252, 252)]As to the rest of the comments on your posting, you are entitled to your opinion. I prefer being governed by Macri, with all the pluses and minuses, than by the previous administration. [/background]
 

D.B. Cooper

Registered
You're obviously new in town. You need to learn how to use www.xoom.com
Only works if you have a bank account in the US. You can withdraw up to U$D 3.000 a month.
Yes there's a fee but they're providing a service. It's a business, they're only in it for the money.
I was told that if you go to Uruguay the xoom there will give you U$D dollars, but here you only get pesos.
I have a Chase accnt. in the US. I only use the ATM's for emergency. I've been using xoom for years.
 
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