Banking In Buenos Aires

[Planner34]

Hello All,
I will be paid in $US when I arrive in Argentina. What bank do you recommend to be able to use Argentinian pesos?
Thanks!
Ann F

 

[ElQueso]

That's a pretty open-ended question. Do you mean you are going to come here to work and the company that is hiring you will pay you in dollars here? Doesn't sound right to me (I don't think companies will pay in "white" in dollars). Are they going to pay you in "black" (not an officially-registered worker) either in the States (or where ever you're from) in your bank account there in dollars and you want to know how to get your money down here or they will hand you dollars physically and you want toknow where to change money? Is someone (not work-related) giving you dollars when you arrive here and you want to know how to exchange them to pesos?

Do you/will you have residency? Without residency you can't even open a bank account.

Not sure exactly what your question is. The answer(s) vary(ies) depending on which of the above is your situation, or something I didn't even list.

 

[fred mertz]

Will you be working for a U.S. or International company? It seems quite odd for an Argentine comoany to pay an employee in U.S. dollars.
Will you be paid in '$' or "US.$". A $ sign without U.S. means Argentine pesos.
If you be working for a U.S. company, perhaps your salary could be deposited in your Charles Schwab Schwab One account or in your Capitol One bank account. With an atm card from either of these banks you would be able to withdraw pesos in BA. I believe that both of these banks reimburse for any bank fees.

 

[citygirl]

You're not getting paid in white in dollars here.

SO you're either getting paid in negro in dollars here which since you won't be official, you won't be able to open a bank account here. So that's a non-starter.

Or you are getting paid in the US or other country other than Arg in dollars and you want to transfer those dollars from there to here and then convert those dollars to pesos. In which case it will depend on country of origin as to which route you can go.

 

[fred mertz]

Say what?

 

[wineguy999]

Say what?

Best reply award to Fred.

 

[citygirl]

Say what?

Was that in response to me?

Can't pay salary here in dollars for an en blanco job unless the law has just recently changed. It has always had to be paid in pesos, no matter the company. A company can tell you what it would be in dollars but they have to pay it in pesos. (ej: you'll earn 1000 USD a month but you would be paid 13000 pesos).

ETA - You can put a clause in the contract that ensures that you will never earn below X level converted even if the exchange rate fluctuates. I had that in mine. It's good protection for fluctuating exchange rate. So in the above example, today you would earn 13K pesos a month. But if the exchange rate goes to 16, the company would increase your salary to 16,000 a month automatically.

Anyway, either they're giving the OP dollars en negro in which case, no bank account. She would just need to go to a casa de cambio. Or she is getting paid overseas but obviously where she is getting paid (US or other country) would determine how to get money here - which transfer service to use.

 

[r2d2]

Anyway, either they're giving the OP dollars en negro in which case, no bank account. She would just need to go to a casa de cambio.

Getting paid in blanco is not a requirement to open a bank account. For example getting an account at Banco Nación is pretty easy (except for the waiting in line for at least an hour). You do need (temporary/permanent) residency in Argentina, though. With some luck you can even open an account with the residencia precaria there.

 

[steveinbsas]

Getting paid in blanco is not a requirement to open a bank account. For example getting an account at Banco Nación is pretty easy (except for the waiting in line for at least an hour). You do need (temporary/permanent) residency in Argentina, though. With some luck you can even open an account with the residencia precaria there.

If Planner34 (aka Ann F) has a job waiting for her and is being paid in dollars en negro she will probably not have temporary residency in Argentina and therefore no DNI...and therefore unable to open a bank account.

In any case (whether she has a job or not), citygirl is right. All she has to do to change dollars is go to a casa de cambio. The only "downside" is that she will have to keep all of her money where she is staying...rather than in a bank.

 

[r2d2]

If Planner34 (aka Ann F) has a job waiting for her and is being paid in dollars en negro she will probably not have temporary residency in Argentina and therefore no DNI...and therefore unable to open a bank account.

In any case (whether she has a job or not), citygirl is right. All she has to do to change dollars is go to a casa de cambio. The only "downside" is that she will have to keep all of her money where she is staying...rather than in a bank.

You are assuming that she has no residence and will not apply for residence. Why? There are many options for residence that do not depend on employment ("en blanco"). She could even freelance/have a small business with clients abroad that pay in dollars, and still have residence here.

And if she were to live here with no residence then I would probably not recommend to exchange dollars at a "casa de cambio". Cuevas, even banks usually have better exchange rates.