HSBC Premier - no charges - limit set where the card is 'home'.
just got the stooopid 300 peso withdraw multiple times thing.
make sure you tell them that you are in AR or they will block/restrict your card for risk of fraud.
I have a Citibank account in the states. If you go to the Citibank in Argentina and use the ATM just for Citibank customers you can draw out up to your daily limit. For a time there was no fees but I noticed since the first of the year they are charging 2% of what you withdraw. Not great but still a lot better than the Banelco ATM's you will find in most places. Check the threads on this topic for other tips.
Fishface - is that for sure on the HSBC thing? I thought my friend was paying ATM fees but perhaps not.
I use Citibank. You will be charged a foreign transaction fee, even if you use it at a Citibank ATM. If you have "non-Citi" ATM limits (ej: if you use more than a certain amount of non-citi atms per month, you get a useage fee), that will apply as well, even if you use a Citi SA ATM.
The customer service rep claimed that I could withdraw up to $1000 per day at a Citibank ATM; however, if I needed more money than that, I could make a phone call to Citibank just prior to going to the ATM and they could authorize a one-time withdrawal up to $3000 US from an ATM.
CitiBank used to be great. Most of my money goes to a Citi account in NYC. As long as you used a Citi ATM (at every Citi branch in BA and there are 50+) there were no fees and the exchange rate was decent. But since the whole credit crunch bullshit (read: MBAs screwing the planet) they have begun to impose a 3% extra fee (over and above profitable exchange rates), which makes the whole transaction an utter rip-off -- 8-9-10%+ over real exchange rates. However, there doesn't seem to be a better option at the moment. Banks are screwed right now, so, of course, we are screwed as well.
I am also an HSBC customer and employee. If you are a Premier customer, then the previous posting is correct: you will not pay any ATM fees to withdraw cash from any HSBC ATM (we have a lot of branches in greater BsAs and in Argentina in general). However, you WILL be charged an FX fee regardless...this fee is quite nominal (i don't notice it personally, even though I get charged myself if I use my Premier account from abroad here). If you already hold premier status, then you will automatically qualify for Premier here in Argentina. In this case, I would recommend that you open an account (go to Casa Central at Florida and Peron if you need an English speaker) as you get free, unlimited transfers between same-name accounts. If you're not a Premier customer, then you can probably qualify here in Argentina as the amount needed in a deposit to qualify are significantly lower than in other countries.
As far as Citi goes, I have a friend who works at Morgan Stanley and has his accounts at Citi. He's been here in BsAs for 7 weeks now and still hasn't been able to receive a local bank account. I know that Citi is downsizing this year, so if you're looking for convenience, unless they are close to where you live or work, it might be more difficult. I have no idea what their fee structure is, though, so it might be best to check it out on your own beforehand.
>>However, you WILL be charged an FX fee regardless
is that built in to the awful rate so its not noticed?
>>If you're not a Premier customer, then you can probably qualify here in Argentina
that would mean that you qualify in NYC or London or Hong Kong - as you only have to qualify in one place - what is the minimum balance you have to maintain in ARG to qualify for Premier. (I have to say Premier sucks so badly here - its awful in comparison and almost all of the global rules are disregarded).
>>as you get free, unlimited transfers between same-name accounts
unlimited, really? more than US$10k in one go? ... its very bureaucratic and you are asked to produce your residency papers everytime and sign various bit of paper - its a pain.
As an employee of HSBC, could I ask what the 300 peso limit multiple times is all about?
And do you need a DNI to open an account here or a CUIL will do?