banking blues

studiodio

Registered
i read all the threads regarding banking, got my domicilio from the local police, my CDI from AFIP, and with my passport and residencia precaria visa in hand went to try to open a bank account... i tried a branch of HSBC first due to this being the one bank down here i know of that has branches in the US (maybe making transfering money down here easier? less expensive?) and was told that i needed an argentine salary before i could open an account (i am not working down here) .... so i went to the main branch of HSBC hoping that the first person was ill informed, and there was told that I needed a utility bill from down here (i have a temporary rental and the owner pays all the utilities). my only monthly bill down here is med insurance and i was told that wouldnt count.....the two reasons i want a bank account is 1: i was told that it would look better to immigration if i had a bank account here (to get permanant visa) and 2: to get a safe deposit box.... i have been doing fine without either.......any advise would be appreciated!
 

thebookcellar

Registered
Hello Studiodio...
Citibank are based in the US as well believe?? Does anyone else have experience with them?
Also, i read somewhere in this forum that HSBC, whilst bearing the name, actually has very little to do with the HSBC in other countries. From my own experience stay away from them anyway!!
 

wphowell

Registered
The only bank that will allow you to open an account without a DNI is Banco Ciudad; we tried every bank here including Itaú. You can no longer wire transfer money into the country unless you have permanent residence.

Since Banelco recently began imposing ATM fees, our cost of bringing money into the country has nearly doubled. The only other options are brokers which are not entirely legal and mainly handle large amounts, or opening an account in Uruguay and transferring money into an account there.

Cheers,

Pete
 

thebookcellar

Registered
steveinbsas said:
Isn't it possible for foreigners buying property with a CDI (and no DNI) and residencia transitoria (tourist visa) to "wire" funds into Argentina though the Banco Nacion? Last I heard, that's exactly what the law required.
I wired money to HSBC, with a CDI number and passport number. But it was to sign an escritura and so they would not release the funds without witnessing the signing ...
Perhaps not related, but i thought i would mention it...
 

captdave

Registered
steveinbsas said:
Even migraciones has relaxed the "monthly transfer" requirement for visa renewals, though it is still necessary to "prove" foreign monthly income. In order to do so I withdraw $ from my US bank at ATMs and then deposit those funds into my Argentine bank account...just to satisfy migraciones.

I just got my last permanent visa renewal with a notarized/apostiled letter from my accountant in the U.S. stating I had over $1,000 U$D income in the US and copies of my last 3 US bank statements showing deposits of over that amount. I had brought receipts from money exchanges but nobody asked for them!

YMMV, I guess!

Saludos,

David
 

jimdepalermo

Registered
The monthly transfer requirement seems to be hit or miss. The agent I work with for visa issues strongly recommends it, and says some renewals have been turned down without it. But I hear from others, like Capt Dave, that they were never asked for it. My guess is it depends on the person processing the application and what kind of mood they're in at the time. I would rather do it than take the risk.

I've used Citibank since I first arrived with only a CDI, and I recommend them, or at least their private banking arm Citigold. I've already written about my experience in some detail in the recent "Bank Account" thread in this forum.
 
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