How does banking work in Argentina with American Banks?
- Thread starter UGAinBA
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I was wondering the same thing, a member suggested to me to keep your funds in an American bank and draw out of any ATM the same as you would as if you were on vacation. He recommended an account with Charles and Schwab, as they can give you a debit card that will avoid the fees you would otherwise have to pay from using the services of an ATM.
As far as earning is concerned though, I don't know how you would go about depositing it into said bank. I guess you would need to receive your work payments in the form of a check and mail it to the United States?
Hope that helps.
As far as earning is concerned though, I don't know how you would go about depositing it into said bank. I guess you would need to receive your work payments in the form of a check and mail it to the United States?
Hope that helps.
fred mertz
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The company is Charles Schwab. It's a discount stock broker.
steveinbsas
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To answer your question, US banks do not work in any way with Argentine banks. You cannot make deposits into or withdrawals from a US bank at any bank in Argentina, even if they have the same name. You can only withdraw pesos at ATMs in Argentina (from your US bank account).
Charles Schwab Bank is a real US bank (FDIC insured), but you have to open a brokerage account first (in order to open a "high yield investor checking account"). You never have to buy stocks.
If you are working and being paid in pesos in Argentina you will need to cash or deposit your paycheck here. Mailing it to your bank in the US really isn't an option.
Charles Schwab Bank is a real US bank (FDIC insured), but you have to open a brokerage account first (in order to open a "high yield investor checking account"). You never have to buy stocks.
If you are working and being paid in pesos in Argentina you will need to cash or deposit your paycheck here. Mailing it to your bank in the US really isn't an option.
Just to affirm and underscore the above: Open a Charles Schwab checking account (which will offer you all of their investment opportunities also, of which you need avail yourself of none). Schwab will issue you a credit card which will allow you to withdraw funds (local pesos...about 1,000 pesos a day limit here = $250 US), refunding your account at the end of each month the banking fees which you would usually incur ($16.50 pesos per $1,000 pesos withdrawn at going rates). Hence, you can get your cash without paying an exhorbitant extortion, which isn't the case if you use a standard credit card.
I'm only here four months at a pop, but find US cash in hand and a Charles Schwab checking account (to which I can electronically direct funds from my general checking account) the best and most conservative, trustworthy way to proceed.
If you are moving here permanently, you might look to Uruguay for a bank account.
GFW
I'm only here four months at a pop, but find US cash in hand and a Charles Schwab checking account (to which I can electronically direct funds from my general checking account) the best and most conservative, trustworthy way to proceed.
If you are moving here permanently, you might look to Uruguay for a bank account.
GFW