New ATM fee


Jan 2, 2007
I took out money at the ATM yesterday and they are now charging a 11.97 peso fee to use the ATM. This is in addition to the money exchange fee and any fees your bank may charge you.

Time to open a local account here :(
It's not a Yanqui thing - its a bank thing. Just started yesterday.

So now you have 300 peso limits & a 12 peso per withdrawal charge. If you have to take out a lot of cash, that is going to get pricey in a hurry.
300 peso limit per day is a joke, a local account gives you 1000 pesos and I believe the atm fee is around 2 pesos, or nothing if it's your bank's atm
I'll dis-confirm this fee for BANELCO, at least today.

At 15:27 today, I extract 190 pesos from my US bank account (PNC Bank) at the Comfi bank on Cerrito 1535. It is a BANELCO bank. As always with this card, there were no fees of any kind, either in the US or here.

Checking my on-line banking site right now (15:55), I show a US$49.94 pending ATM withdrawal from today. So the exchange rate was AR$190/US$49.94 ~= AR$3.805/US$.

Right now, Pagina 12 web site is listing AR$3.79 for buying and AR$3.82 for selling, so I'm getting right at mid-market rate.
Re: the article; LINK and BANELCO are the two ATM networks that operate in Argentina. LINK just started with this fee. BANELCO has not yet, but will surely follow unless something is done about it (by the government or consumers)
I can take out 3000 pesos a day at a Citibank ATM (I have a Citibank US account) but still get charged a non-Citibank ATM fee and the money exchange.

But I don't like to take out large amounts for security reasons. However, it appears that is going to be necessary with the new fee.
Go during the day at a busy spot or go to Puerto Madero, nothing will happen to you there.

And never tell stuff like this to people in real life