Dangers of pulling out money at atms

[gsi16386]

If you think for one second that the banks set the atm limit so low for "your safety", well I have some waterfront property in Ushaia for you all to invest in. It's up to the individual to determine what kind of risks they want to take with their money. The banks just want to make their $5 per transaction like a previous poster had mentioned....

That being said, maybe I'm naive, but I dont even bother looking over my shoulder when pulling money out of the ATM (and my limit is set at $700 pesos). The people they are really targeting are those leaving the banks or the chain of underground Cambio money exchanges where folks leave carrying thousands of dollars. There's not a doubt in my mind that folks are being targeted at ATMs as well, but you just have to be smart about where you pull your money out.

 

[dennisr]

I do not think ATM (Atomatic Theft Machine) fees and withdrawl limits are unique to Argentina. Know I was limited to 250 Euros in Italy and think it cost me about $7.00. The only thing I do know is, Bank Of America reported they made $2.3 billion in debit card fees last year. Not bad for the privilege of accessing you own money.

 

[fifs2]

When I was living in Argentina... I would withdraw the money from inside a local mall...keeping an eye out for who might be watching. Like many things in Argentina... the policy actually goes against what makes sense in practice. The excuse the banks/government give for 300pesos per atm withdrawal "is for your protection". The reality is for them to ream you for the charges. To stand at an ATM for 5 minutes...making withdrawal after withdrawal to get your 3000pesos rent money... attracts attention from thieves... but as long as they get their 5U$S for every 300pesos (50U$S in charges in 5 minutes)...this will not change

cbphoto, your 300 pesos withdrawal limit issues reflect the majority for the last 5 years I´ day..)I envy that citibank customer!) all of a sudden I could withdraw 800 pesos in one go last year and also without warning 1500 at the moment...this is with no notification from my local bank as to when the changes took effect or why..the funny thing is my bank abroad mailed me to suggest I stop taking out such small sums as it was costing me so much...lol

 

[Moonwitch]

It is very worrying and horrible to read. Thanks for sharing.