Getting money safely into BsAs?

[Salvador.Russo]

What's up everyone? I"ll be moving to BsAs this October. I plan to stay for about 6 months. My question is what is the best way to get money into the country to pay for things? I think you can't get a bank account from what my friend there tells me. That you have to stay for 1 year at least?
I have read threads on the ATM's and stuff... what about periodic Western Union wires to yourself to pickup? Any ideas? If so, please shoot them my way at [email protected]
Thanks!!
Sal
www.myspace.com/nastysal

 

[tangobob]

My advice for what it is worth is to bring as much as you can in cash, have a chequing account that you can withdraw via foreign ATMs and buy anything you can with visa or mastercard. Others may tell you different, but I have found it all but impossible to get money over here via any sort of transfer. I have tried using the exchange houses and the rules change by the minute. If you withdraw cash from a credit card then you will have all the expenses associated with them.

 

[Stanexpat]

Just bring an ATM card you know will work(see the threads on this subject). Tangobob is correct in my experience that there isn't anyway to bring in money easily.
The banking system in Argentina leaves a lot to be desired.

 

[Salvador.Russo]

Thanks guys. I appreciate that. I guess it will be all plastic. The thing is, I"m a U.S. citizen. I forsee the dollar diving HARD soon. I want to be able to have some cash reserved in BsAs, maybe in Swiss Francs or something. I dont want to sit on dollars... do the banks down there have currency exchange? Maybe switch to Reals or something? Thoughts?

 

[tangobob]

If you want to save in Swiss francs you should try Switzerland. Nobody here trusts the banks after the crash.
Having dealt with some ammounts of money recently it appears the locals keep their money in secret compartments in their trousers.

 

[igor]

NastySal,

If you are in the States, there are plenty of options of protecting yourself from falling dollar. Everbank offers CDs in foreign currencies (including real). There are currency ETFs, futures, unhedged european grade AAA bond funds denominated in euros etc etc.

Taking reliablity of Argentine banks aside, you can not even wire more than 5,000 USD to Argentina per month if you are a private person not involved into commercial activity. If you wire more it has to be for a real estate purchase. (Guys, please correct me if I am wrong). And getting your money out will be a different story .