Getting US Dollars to Pay Rent

[tortadepatti]

How do you guys go about getting US Dollars to pay rent?

 

[Rease]

You just have to go to a Casa de Cambio, which are everywhere. Unfortunately, buying dollars is expensive, usually it is close to 4.20 pesos for 1 dollar, which makes paying rent in dollars super expensive.

 

[deeve007]

There are a few banks who will let you get cash advance from credit cards.

 

[andrewjps]

I've been on the same mission (I'm going to Venezuela and need to change cash on the black market), and Banco Superville is the way to go. They will let you get cash advances on your credit card. Other banks will not, and some have suggested Banco Piano, but they have a limit of 200 dollars, so not really worth it. The rate is OK. But I have no atm fees on my card, so it actually works out slightly cheaper to go to a citibank atm, and get out 3000 pesos at a time and shop around for a good rate. Today I noticed that it was around 4.16 (selling US dollars).

Suerte.

 

[sesamosinsal]

How do you guys go about getting US Dollars to pay rent?

1. Check the "Venta" rate on DolarHoy.com

2. Whichever bank has the best rate, click the bank name on the website and get its address.

3. Go to that bank with the amount of dollars you want in pesos and your passport. For example, if you need $1500 USD, you'd bring $6,255 ARS (1500*4.17=6255). It is not that expensive as a poster above says. For example, you could exchange dollars here at 4.15 ARS, according to current rates on DolarHoy.com. For every dollar you buy at the bank, you're paying .02 ARS. A total of 30 pesos or $7.50 USD -- hardly breaking the bank.

If you're here on a tourist visa, I believe the monthly limit is somewhere around $10,000. I last bought dollars at Banco Nación in July of 2010, and I believe that was the limit stated on my receipt. For those who may be wondering, it is legal for landlords to require your rent payment in dollars.

 

[tortadepatti]

Thanks for the great tips on cambios, cash advances, and dolarhoy - we will probably be using those resources in the future. Because we needed to pay several months up front, we ended up using Xoom, which we found in a previous thread here. They charged $50.00 for $2,500 USD to pick up at any Banco Frances. Unfortunately, though, it looks like Banco Frances is only open Monday through Friday? Is that true? We were hoping to pick it up Saturday.

 

[sesamosinsal]

Thanks for the great tips on cambios, cash advances, and dolarhoy - we will probably be using those resources in the future. Because we needed to pay several months up front, we ended up using Xoom, which we found in a previous thread here. They charged $50.00 for $2,500 USD to pick up at any Banco Frances. Unfortunately, though, it looks like Banco Frances is only open Monday through Friday? Is that true? We were hoping to pick it up Saturday.

Banks are not open here on Saturday. Some casas de cambio might have limited hours, however.

Are you a U.S. citizen/resident? If so, I'd look into getting a Schwab investor checking (Brokerage plus Schwab Bank Checking -no investing required) account. With their debit card, you can withdraw from ATMs without being charged fees. You could withdraw the $10,300 ARS from ATMs throughout the month without paying any fees, and then just pay the banker's commission when you exchange the pesos for dollars -- $0.04 ARS or so per dollar, maximum $25 USD for $2500 USD. (Usually $0.02...)

 

[windy]

This branch of superville bank will alllow you to take out dollars. Its on Charcas and Salguero. If you have a visa or mastercard and your passport you can take out dollars at the counter.
Just this branch of superville not all supervilles.

 

[Cheng]

This branch of superville bank will alllow you to take out dollars. Its on Charcas and Salguero. If you have a visa or mastercard and your passport you can take out dollars at the counter.
Just this branch of superville not all supervilles.

If you do go to this bank, watch your account carefully. They have charged my account twice now (happened at different times) and not given me the money. The second time just happened and the transaction is still pending, so I'm hoping it drops off. The bank gave me my money after I told them about the first charge but I had to go there a couple of times, stand in line and then provide them with a printout of my bank statement. It is easy just to go to this bank; you can get your US dollars but just make sure they don't double charge you. Also, the Supervielle bank on Santa Fe has given me US dollars with a credit card.

 

[ben]

A word to the wise:

This is a country that operates on cash, and crime works accordingly. There are all sorts of stories on people being seen at banks, and then being followed on motorcycles - sometimes to their home - before being robbed where convenient. I know people - locals too - to whom this has happened. This is a place where cash is a dangerous commodity.

For more background, google 'Carolina Piparo' - plenty of results in English, this is a story that hit the foreign press - this particular incident happened in La Plata, but as I said, I know enough people with similar stories here.