Debit Withdrawal Fees

[jbhenson]

No the rate is not determined by your issuing bank, its determined by the ATM of the bank you use. I have used MANY ATM's all over Argentina, and this bank, Bank of Chubut is the only one that pays this low of rate and it only lets you draw out 1000 pesos at a time so they can hit you with more fees.the bankers here are still making as much money as they can off exchange rates, you can believe that!

And yes you do have to add in the fees as well. This isn't my first rodeo!

 

[Ceviche]

anyone using foreign credit cards here?

what rates are you getting.

especially with cards which do not charge you for using them abroad.

 

[Sleuth]

No the rate is not determined by your issuing bank, its determined by the ATM of the bank you use. I have used MANY ATM's all over Argentina, and this bank, Bank of Chubut is the only one that pays this low of rate and it only lets you draw out 1000 pesos at a time so they can hit you with more fees.the bankers here are still making as much money as they can off exchange rates, you can believe that!

And yes you do have to add in the fees as well. This isn't my first rodeo!

That is not correct. Your issuing bank sets the exchange rate and international fees if any. The local bank could probably set maximum withdrawal amount and local fee, though every local fee I have seen is the same - USD $6.

If you have a Visa debit card, you can look up the rate at https://usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html. If yours is MasterCard, go here https://www.mastercard.com/global/currencyconversion/

This has matched my Charles Schwab rates exactly at the multiple banks I have withdrawn from.

 

[Sleuth]

anyone using foreign credit cards here?

what rates are you getting.

especially with cards which do not charge you for using them abroad.

Schwab gave me $14.12 yesterday

 

[jbhenson]

That is not correct. Your issuing bank sets the exchange rate and international fees if any. The local bank could probably set maximum withdrawal amount and local fee, though every local fee I have seen is the same - USD $6.

If you have a Visa debit card, you can look up the rate at https://usa.visa.com...alculator.html. If yours is MasterCard, go here https://www.masterca...encyconversion/

This has matched my Charles Schwab rates exactly at the multiple banks I have withdrawn from.

Im telling you I can go to several banks and get a higher rate by withdrawing from their ATM's but the one in Chubut is around 12.98. Others like Santandar or whatever its called give me close to 13.85 or so. I did it in the same day to double check yesterday. And what I am posting here is factual, I got two different rates in the same day from different banks near here!

 

[GMXam]

Citibank also charges almost $90 pesos for $2000 withdraw... Citi can deliver USD let say $138 aprox, the rate was 14.00. the rate NET depends on your bank fees etc.

Today, Citibank gave 14.70 exchange rate with a $ 700 ARS withdrawal using an ATM with a chip (aprox $50 USD). We were just testing it out today.

 

[Ceviche]

looks like the good old day of the ATM are returning.

But when will they allow to withdraw equivalent of 500 usd at least in one go? 7500 pesos?

 

[jbhenson]

That is not correct. Your issuing bank sets the exchange rate and international fees if any. The local bank could probably set maximum withdrawal amount and local fee, though every local fee I have seen is the same - USD $6.

If you have a Visa debit card, you can look up the rate at https://usa.visa.com...alculator.html. If yours is MasterCard, go here https://www.masterca...encyconversion/

This has matched my Charles Schwab rates exactly at the multiple banks I have withdrawn from.

When I clicked on the visa link it just stopped with a blank page any idea why?

 

[r2d2]

looks like the good old day of the ATM are returning.

But when will they allow to withdraw equivalent of 500 usd at least in one go? 7500 pesos?

Two thing need to happen for this:

1) New pesos bills (200, 500 ...)
2) The ATM networks (Banelco, Link)/local banks need raise the limit for foreign cards


1) The ATM´s installed here in Argentina have a limit of 40 bills per withdrawal. With the current 100 peso bills that comes to a maximum of 4000 pesos (which is the limit with a local debit card). See: http://www.iprofesional.com/notas/224338-El-ms-grande-muy-pequeo-el-de-100-ya-es-el-menor-de-la-regin-y-apuran-salida-de-billetes-de-200-y-500

2) From my experience and from what others have posted here on the forum either the ATM networks Banelco and Link and/or the banks have set a limit of 2500 pesos per transaction with foreign (US, European etc.) debit and credit cards. Considering that the 2500 pesos also have to cover the ATM fee of around 90 pesos you currently only get 2400 out of the ATM.

 

[Nora]

Does anyone know anywhere you can get out more than 2500 pesos at one time?