Does anything happen to your bank account when residency expires?

lunar

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I imagine it would continue and function normally buttttt... this is Argentina.
They will freeze it. You will receive a friendly call from the bank asking to clarify your immigration status. Since you will not be able to do it in a satisfactory manner, they will close your account. You will go to the bank and receive your money in cash.
 

SecretShopper

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They will freeze it. You wi

They will freeze it. You will receive a friendly call from the bank asking to clarify your immigration status. Since you will not be able to do it in a satisfactory manner, they will close your account. You will go to the bank and receive your money in cash.
That's actually seems normal and reasonable.
 

FrankPintor

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What Lunar writes seems logical, in my case I had opened my bank account with my passport and a precaria visa good for a few months with ICBC (but facilitated by my employer here). I was never asked for any evidence of my immigration status, and my account continued working as normal (i.e. badly) for about 3 years until I gave up on them because I wasn't able to associate my DNI with my account. YMMV of course.
 

SecretShopper

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What Lunar writes seems logical, in my case I had opened my bank account with my passport and a precaria visa good for a few months with ICBC (but facilitated by my employer here). I was never asked for any evidence of my immigration status, and my account continued working as normal (i.e. badly) for about 3 years until I gave up on them because I wasn't able to associate my DNI with my account. YMMV of course.
This actually makes a lot of sense. It wasn't any type of immigration status check for me either. I have time to figure out what I'd do.
 

Alby

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It's interesting. I have accounts with two banks in Peru. My residency there expired four years ago, but I continue to operate the accounts, so far without any problems or questions asked. What is the reason Argentinian banks close accounts for individuals whose residency has expired?
 

steveinbsas

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What is the reason Argentinian banks close accounts for individuals whose residency has expired?
IMO it most likely has something to do with regulations to combat money laundering, for which Argentina has a well deserved reputation. 🤠
 

Redpossum

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IMO it most likely has something to do with regulations to combat money laundering, for which Argentina has a well deserved reputation. 🤠
I don't doubt that this is the nominal excuse, but I roll my eyes whenever that crap about "money laundering" is trotted out. When money laundering really happens, it is in huge amounts, not in the penny-ante sums moved around by us expats. The real reasons behind those KYC and AML regulations have to do with controlling us peasants, and the people who make those rules are usually the ones engaging in such crimes.
 

Alby

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They will freeze it. You will receive a friendly call from the bank asking to clarify your immigration status. Since you will not be able to do it in a satisfactory manner, they will close your account. You will go to the bank and receive your money in cash.
To be clear, everybody that is passing through the temporary residency process either (i) has to take it upon themselves to inform their bank that their 1 year residency has been extended for a second year, that their second year for a third, and that their third year into permanent residency or (ii) do nothing but assume they will be contacted by the bank after the conclusion of each year seeking confirmation of their status. Is that how it works?
 
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