I got the funds I wired in June to my BBVA/Banco Frances account, returned to me finally ! I believe the return was in response to a letter that BancoFrances asked me to send them, which I did. The bonus was that the bank had not converted my funds to ARS, so I didn`t lose on the devalutation. They charged me US$107 to return my funds. I found my treatment at the bank bizarre. Then again, I had a bad time when I had an account at HSBC in Argentina also. Thanks so much everyone for your kind advice !
How to force a bank to release my money ?
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MilHojas
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Hi PaulBee,
Did they revert the wire and send the money back to your US account? Or did they release them here in Argentina?
nikad
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This is great news
They returned the funds to my bank in Mexico. My bank in Mexico contacted me, saying to come pronto, to accept the funds, which I did. I don`t have a ·US$ account in Mexico, so I had to convert the money into Mexican pesos. All in all, the attempted transfer to my BBVA/Banco Frances account cost me a few hundred dollars (plus lost rent on my unfinished apartment) but at least I got the bulk of my money back.
I have that same impression !
Yesterday I went to my bank Banco Francés and asked if there is a daily limit on my Visa debit card. Two established bank workers told me that the only limit was what I had in my account. I sold a significant sum of dollars and put the pesos into my account ready for the debit transacción. The transaction couldn't be completed because it turns out my card has a limit on it! Obviously I didnt
want this money sitting in my account so I changed it back into dollars as soon as I could but thanks to inflation and the buying and selling difference I lost $6000+ pesos. For what? Gross incompetence of the bank. They are utterly useless! They wear their fancy suits, treat you like you are burdening them and then collect their significant salary. This awful lack of professionalism reflects the entitledness many Argentines feel and perfectly explains why this country is such a mess.
want this money sitting in my account so I changed it back into dollars as soon as I could but thanks to inflation and the buying and selling difference I lost $6000+ pesos. For what? Gross incompetence of the bank. They are utterly useless! They wear their fancy suits, treat you like you are burdening them and then collect their significant salary. This awful lack of professionalism reflects the entitledness many Argentines feel and perfectly explains why this country is such a mess.
I share the opinions of the 2 posts above this post, but I am very sorry that you both also got ripped off by those jerks.
earlyretirement
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The banking system in Argentina has always been really horrible! Don't get me wrong. It's gotten MUCH better over the years. Honestly, I was shocked how much better things have gotten. About 1.5 years ago I sold a few properties and I was shocked how easy it was to deposit my funds into my US dollar account at HSBC and then turn around and wire it to my USA bank account. It only took a few days for the funds to be received by my USA bank and fees were minimal. (I think I paid like 0.5%).
I left a sizable balance in my US dollar account from that sale but with all the instability, I withdrew $50,000 US dollars from it recently. I was amazed how easy it was. My ATM card didn't work and I had ordered a new one. Fortunately I am a HSBC Premier client and my manager just said to come up to her office and then she called down to the bank teller downstairs. I was instantly allowed to withdraw $50,000 US dollars without a fuss.
I wouldn't really do anything in pesos there. I have a peso account there but I only put in enough to pay bills.
I left a sizable balance in my US dollar account from that sale but with all the instability, I withdrew $50,000 US dollars from it recently. I was amazed how easy it was. My ATM card didn't work and I had ordered a new one. Fortunately I am a HSBC Premier client and my manager just said to come up to her office and then she called down to the bank teller downstairs. I was instantly allowed to withdraw $50,000 US dollars without a fuss.
I wouldn't really do anything in pesos there. I have a peso account there but I only put in enough to pay bills.
