Banks. Has anyone else heard this?

[Monique]

When I first applied for my residency (rentista) I was also asked if I had a bank account. I told them I could only open an account once I had a DNI and they just made me sign a piece of paper saying that I would open a bank account before renewing my residency. Not sure about the implications of this new rule though.

 

[dennisr]

Maybe it is the new Foreign Account Tax Compliance Act. Banks have said they were going to refuse US clients.
"....... the private banking arm of HSBC said it would stop offering services to U.S. residents outside the United States because of the cost of complying with the rule....[FATCA]"

http://www.reuters.com/article/2011/08/19/us-usa-tax-fatca-idUSTRE77I38220110819

http://www.expatexchange.com/lib.cfm?articleID=3983

 

[Fettucini]

You don't need a bank account to get the visa rentista but you will need to have the account when you renew.


You are in the same boat as my friend who is waiting for his visa (pensionado). Obvioulsy, you need to go to the bank before the end of the month. Do you already have the precaria?

Actually I've just completed the paperwork to be notarised and apostilled in UK before being translated here and submitted to migraciones. Now it looks like I'll have to remove the part about the bank account details here.

 

[jez]

But with a tourist visa you wouldn't have a DNI and without a DNI you can't open a bank account to begin with, right?

this is a post I wrote a few months back about opening a bank account with a DNI: http://baexpats.org/expat-life/14293-opening-bank-account-foreigner-without-residency.html

Maybe the rules have changed now?!?!

 

[Canick]

"More Argentine changes - got called into my bank today "as a courtesy" - effective end of this month, per the Central Bank, no foreigners can have bank accounts here anymore unless they have permanent residency with a permanent DNI. Any money left in accounts after the 31st will be confiscated by the Central Bank - no returns. Making harder and harder to stay here. We shall see."

Can anyone else confirm this?

I don't wan to believe unsubstantiated rumors but don't wan to get caught with my pants around my ankles.

can you confirm if you were told it is people without "permanent" residency or just without a dni? For example i had a DNI number almost immediately, but it took forever to actually get it physically. Also, I am on my second year of having a dni (had to reapply after year one) and in a few months I will be able to apply for permanent residency.

EDIT: i just emailed the manager of my account at CITIBANK (which i opened here) and he was unaware of any such thing.

 

[Napoleon]

Well I just went downstairs and found a letter from HSBC! It says they want me to go to my branch before 30 December and bring my DNI for identification (which i dont have, i opened the account with a passport a few years ago).
For me this is a big problem as i'm in the middle of my residency (rentista visa) process for which i'll need a bank account here to send money into the country! If they're saying you cant have a bank account without a DNI, it makes it impossible to get the rentista visa.. what a hassle.

EDIT: i just emailed the manager of my account at CITIBANK (which i opened here) and he was unaware of any such thing.

Fettucini: Please report back on what they tell you at the bank. I would think that there are many interested parties here.

Gracias

 

[perry]

If this rumour is true it will be the deathknell of many in the expat community who still believe in Banks and government for the people . This is of great concern for many of us who expect our elected officials to protect us the people

 

[TomAtAlki]

My information came off of a facebook site. It is sounding more and more real. I wrote to my US Senator about the US law and will report back if I hear anything.

 

[scarface]

HSBC sent me the same notice/letter advising my account would be closed at end of month. When I spoke to rep at bank he said no accounts with temp CUIT could be maintained any longer. I believe I got that CUIT when I went through Reynolds Prop to buy my apt 3 years ago and they hooked me up with a money moving / finance Co. That finance Co set up an acct for me at HSBC ( 2 actually - I closed one that was charging me a monthly fee). My new HSBC acct was used to receive the transfer of my funds to complete the property purchase...via the finance Co.

I asked rep if the acct would be kept open if I began the process for a DNI and or permanent CUIT. He said yes. I had 7 pesos in acct. Don't recall whether the money was to be delivered to the gov. Not really an issue for me. Probably won't bother with trying to get DNI/ permanent CUIT or maintain an account.

 

[scarface]

If this rumour is true it will be the deathknell of many in the expat community who still believe in Banks and government for the people . This is of great concern for many of us who expect our elected officials to protect us the people

As I understand it, documented permanent residents will not be affected. Undocumented perma tourists will, but they don't vote so I am confused why you would claim the elected officials are theirs (yours)? What am I missing?