The realtor also won't be around on Jan. 1st because they're going on vacation, so I pretty much have to pay before then. If the place is vacant right now and I trust the realtor, can I assume it's safe to pay and sign the contract now?
How to get USD for rent without fees?
- Thread starter SaraOR
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SaraOR said:
Check out the CitiBank ATMs. I just pulled out 2500 pesos about an hour ago.
As far as having a lot of money, not much option. Any of the locations I mentioned are in very public places, and you can leave directly from thee in a taxi - easy to find taxis in those places.
As far as in your apartment, I understand, and it's a chance we all have to take when trying to get large sums of money.
Do most people pay for their rent in USD? (for both furnished or non-furnished) Is it just an expat/short-term thing? Or is it that the price is in USD but they will accept the going rate in pesos (you'd think they'd even offer a slight discount, esp if you are giving them $6-12K at a time - their penalty would add up).
Why do they prefer USD when they will pay to convert your USD to pesos when they deposit your funds? Are Argentine businesses (particularly smaller ones) able to hold USD bank accounts...?
I may look into the traveller's cheques myself although should be able to get a local bank account quickly enough and thereafter do transfers.
Why do they prefer USD when they will pay to convert your USD to pesos when they deposit your funds? Are Argentine businesses (particularly smaller ones) able to hold USD bank accounts...?
I may look into the traveller's cheques myself although should be able to get a local bank account quickly enough and thereafter do transfers.
Ailujjj said:
Temporary properties are usually listed in USD because the majority of people using them are foreigners. Long term leases, as I was explained by my lawyer and my real estate agent, are denominated in pesos by law.
For temporaries, they will accept pesos but many people here would prefer dollars because it holds its value relative to pesos better, but they would certainly take the equivalent in Euros or other good currencies as well, I would think. Some may not like receiving money not in pesos because sometimes it can be difficult for an Argentino to sell dollars. Many Argentinos have bank accounts in Uruguay where they keep stuff like that.
I don't think you can have a USD account in Argentina any more, although I may wrong about that. I would never have a USD account here if it's possible. My understanding of the 2002 crisis here is that when the peso fell the government one day said that all USD accounts were now worth the same amount of money that the peso was worth - if you had $10000 US in a bank here, it was now worth $10000 pesos, and at the time the exchange rate was roughly 3-1 pesos to dollars and people lost 2/3 of their money that had USD accounts. If it is possible to have USD accounts here, the same thing may happen again if there is a financial crash.
As far as you getting here and easily opening up a bank account (that's one thing) and then easily transferring money to it - don't bet on it.
I know of a few people (no one I know personally) who have claimed to be able to open up bank accounts with their passport. I have never been able to talk to anyone personally who has actually done this. I have tried for three years and have been unable to.
I was recently able to because I was able to prove that I am getting my residency, and I have to have a bank account to get the residency.
As far as easily transferring money into a bank account, I don't think it will be easy or straight forward. The guy that I am renting my house from is a VP at Banco Hipotecaria and he told me he could get me an account and get it with the ability to transfer mony into the country. He ran into a wall in just getting the account opened (this was more than a year ago) and as far as receiving money internationally - he gave me a list of items a page long that I had to complete and get approved on before I could get international wires.
Attorney in BA
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Ailujjj said:
Legally you can state the lease in any currency, and the landlord may refuse payment in any other currency.
If you use banco piano you may have your money before the end of the week.... in US dollar notes.
www.bancopiano.com.ar - San Martín 345 downtown and the one on Ave Cabildo in Belgrano.
They provide you with a US based bank account with Bank of America. You transfer the money with your passport number or some other ID.
You wait 48 hours, identify yourself to them at a local branch with your passport and they pay you the money. I think the fee is 3%.
Don't transfer more than $10,000 in one transaction or more than $45k per month or you'll need to declare an income source.
www.bancopiano.com.ar - San Martín 345 downtown and the one on Ave Cabildo in Belgrano.
They provide you with a US based bank account with Bank of America. You transfer the money with your passport number or some other ID.
You wait 48 hours, identify yourself to them at a local branch with your passport and they pay you the money. I think the fee is 3%.
Don't transfer more than $10,000 in one transaction or more than $45k per month or you'll need to declare an income source.
If you take your passport and debit card into a bank, you can take out as much money as you like, and paying only one small fee.
This works, i rent a room in buenos aires, and this is how are renters pay us.
Passport and debit card! thats it
This works, i rent a room in buenos aires, and this is how are renters pay us.
Passport and debit card! thats it
With a passport and credit card you can withdraw large sums of cash (upto value of u$d 5,000 I think) from Banco Piano (branch on Florida or in the Sheraton hotel). Visa has a u$d200/300 limit a day - mastercard no limit. You're charged in pesos but if required can have the money converted to u$d - just make sure you are happy with the rate first. An alternative to the daily cash machine run...
citygirl
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Yes, both people and businesses can have bank accounts in USD. They are separate accounts. For example, my business has both a USD and peso account. Typically rental contracts will be stated in dollars but most landlords (if you're here and don't have a local account) will allow you to pay them in pesos in that day's exchange rate.
If you are going to get the signed contract - it's doable to pay in advance but I would be careful about that. Does the realtor have references? Ask. Is it a large company?
Re: Citibank - my understanding is that you can withdraw up to your daily ATM limit IF you are a Citibank card holder. If not, I believe the normal limits apply.
FWIW, you can take out 700 pesos at a time at least 2x a day and it may be 3 (I use Citi for my larger transactions). You will incur whatever your bank charges you plus a 11+ peso fee for each withdrawal that is in charged by the Argentine banking system.
If you are going to get the signed contract - it's doable to pay in advance but I would be careful about that. Does the realtor have references? Ask. Is it a large company?
Re: Citibank - my understanding is that you can withdraw up to your daily ATM limit IF you are a Citibank card holder. If not, I believe the normal limits apply.
FWIW, you can take out 700 pesos at a time at least 2x a day and it may be 3 (I use Citi for my larger transactions). You will incur whatever your bank charges you plus a 11+ peso fee for each withdrawal that is in charged by the Argentine banking system.