Benefit of Bank Account with DNI

[trojans10]

I'm currently living in BA and wondering if there is any benefit to opening a bank account here in Argentina? I have a DNI and dual citizenship in both USA and Argentina.

I was thinking it might be nice to put money in a local bank account and be able to use a debit/credit card here in Argentina so I'm not carrying around cash everywhere.

Curious to hear the pros/cons to opening an account... I work for a US company right now and do not want to be taxed in any way - seems to be my only worry if I need to provide any proof of income or something strange.

Any thoughts?

 

[brandon]

I'm currently living in BA and wondering if there is any benefit to opening a bank account here in Argentina? I have a DNI and dual citizenship in both USA and Argentina.

I was thinking it might be nice to put money in a local bank account and be able to use a debit/credit card here in Argentina so I'm not carrying around cash everywhere.

Curious to hear the pros/cons to opening an account... I work for a US company right now and do not want to be taxed in any way - seems to be my only worry if I need to provide any proof of income or something strange.

Any thoughts?

I believe all banks will ask for proof of income and your US tax returns from last 3 years.
Correct me if anyone from US has different experience

 

[Millie]

Just opened an account and they didn’t ask for proof of income…
Only my DNI

 

[trojans10]

@Millie Thanks! What benefits do you see from opening an account? And which bank? Thanks!

 

[Hhussein]

You just need a DNI. I have an account with Santander. It makes life easier being able to deposit money from your US account to Argentine account via Western Union or wherever you transfer money from.

 

[Neil]

I'm currently living in BA and wondering if there is any benefit to opening a bank account here in Argentina? I have a DNI and dual citizenship in both USA and Argentina.

I was thinking it might be nice to put money in a local bank account and be able to use a debit/credit card here in Argentina so I'm not carrying around cash everywhere.

Curious to hear the pros/cons to opening an account... I work for a US company right now and do not want to be taxed in any way - seems to be my only worry if I need to provide any proof of income or something strange.

Any thoughts?

Try Brubank,virtual low-cost,debit card,u can transfer western union right into account..!

 

[Quilombo]

I believe all banks will ask for proof of income and your US tax returns from last 3 years.
Correct me if anyone from US has different experience

Well, it depends on how knowledgeable the account executive is on the regulations, or if the website is checking for this (Galicia and Brubank does IIRC online when you enter in 9X.XXX.XXX for your DNI and asks if you're American). Some don't, and if you're an Argentine Citizen, and they don't pay attention to your place of birth, and you don't flag it, well, don't ask/don't tell.

As for the reasons why you'd want to have an account, I would say that it's increasingly a pain in the ass to carry bills (the largest, $1,000 pesos is only $3.33), and you can use Mercado Libre easier, and Rappi is cheaper with debit/credit (plus not all restaurants let you pay with cash to the driver). Some grocery stores give you discounts with certain banks too (and other stores as well).

Finally, I don't want to assume, but if you're working fully en negro in both countries you could declare up to 1K USD a month here as a monotributista without pesifying it, take the USD cash out of the bank, and still be able to get a credit card here which would give you access to interest free cuotas. You'd be category D so the tax you would pay is $5,025.96 ARS/month, which is $17 dollars, not bad to be quasi legal.

 

[Millie]

@Millie Thanks! What benefits do you see from opening an account? And which bank? Thanks!

Hi!
Benefit for me is to be able to use debit card instead of carrying around a lot of cash … and also for transfers. Santander Bank.

 

[trojans10]

Okay, thanks all! I will open an account then. I just need to decide on a bank!

@Millie How long does it take to get an actual debit card?

 

[Millie]

10 working days