Does Banelco work with foreign cards?

[dsp27]

For BBVA account holders, the limit the last time I looked was 25k (but only from a BBVA ATM); this is the minimum amount you can take out from the counter - if you ask for less they tell you they're not allowed: you have to use the ATM.

I was talking about foreign ATM cards. The limit on these was/is 8.000/day.

I'm in the same boat as you, I fortunately haven't had to use my card recently in an ATM here, but the need could come up. I'm sure your card is fine. I would try to use Link, if that's an option, the fees are lower.

But anyway: I've also had the problem with the amount, if you ask for too much initially, and go lower as the ATM suggests, it will never work. I've complained about it to zero effect. Try with say 4000 pesos (yes, I know, the fees will kill you) and then go higher. At Link ATMs I used to be able to get 6000 pesos in one go. Banelco wanted to give max 4000 pesos and charge 10% of that in fees. That was a while back, of course. In any case, the ATM should be able to dispense 40 banknotes to you, and the hopper will be filled with 500-peso notes at a minimum.

There were also certain ATMs, of the same bank (Banco Ciudad) as other ATMs I successfully used, that would never, ever, give me any dosh. I also remember that Banco Ciudad at one location I used "upgraded" their 2 ATMs, one worked for me, the other not. Banco de la Nacion also uses Link, and has never ever wanted to give me money. It also waited about a minute to give me my card back. YMMV. AWA.

It has nothing to do with how many noted the ATM can dispense. Banelco is a cartel and they set the rules and fees. They used to (and it seems they still do) limit a single extraction to 4-8k and the daily one to 8k. Obviously they still charge you 10USD per each go. The banks have few sources of income and they are taking advantage of the few confused foreigners left in the country.

 

[FrankPintor]

It has nothing to do with how many noted the ATM can dispense. Banelco is a cartel and they set the rules and fees. They used to (and it seems they still do) limit a single extraction to 4-8k and the daily one to 8k. Obviously they still charge you 10USD per each go. The banks have few sources of income and they are taking advantage of the few confused foreigners left in the country.

Trust me, it does. The 40 banknote limit seems to be a hard one, it's been referenced in a few places, if I find a link I'll post it here. If the bank filled the ATM with 100 peso notes then your limit is 4000 per transaction, no matter what. Banelco and Link are both cartels, Link charges a bit less, but it's still ugly.

 

[dsp27]

Trust me, it does. The 40 banknote limit seems to be a hard one, it's been referenced in a few places, if I find a link I'll post it here. If the bank filled the ATM with 100 peso notes then your limit is 4000 per transaction, no matter what. Banelco and Link are both cartels, Link charges a bit less, but it's still ugly.

Yes and no. It's very very rare to have an ATM filled with 100 peso bills (only). Usually most have 500s in. Still the daily limit on the foreign cards is a pure abuse -- an easy way to make $$$.

 

[BrownOlive]

Ok I think we have covered this. Thanks to all.

This is just one more theme of delightful yet frustrating Argentine individualiztion of "things" standarized to numbness elsewhere.

 

[HenryNisental]

Be careful!!! even if the ATM works ok with your foreign card, when you withdraw cash it will convert it to USD at the OFFICIAL rate of 87 $AR per dolar!!!!It will kill you.

 

[Rich One]

if one can instead use WU transfers can get $142 pesos per dollar.. Am I correct?

 

[HenryNisental]

I do not think so, they discount a 15% off the top first, then you get 142 on the rest.

 

[steveinbsas]

I do not think so, they discount a 15% off the top first, then you get 142 on the rest.

Western Union doesn't discount anything "off the top" (at least in my experience). I just checked and the exchange rate is $141.71 USD to one peso.

There is no charge for a transfer directly from one bank account to another bank account and the fees charged on a $500 USD transfer are $24.50 if using a credit card and $10.00 if using a debit card (5.1 and 2 percent IF my calculations are correct).

The fee for using a credit card to make a transfer of $1000 is $37.00 and the fee for using a debit card remains at $10.00 (3.7 and 1 percent IF my calculations are correct).

 

[BrownOlive]

WU seems to be using the CCL(Dólar Contado con Liquidación) or the Dólar MEP rate, which are close, to set their rates. I am sure they are not losing money at all.