New Daily Peso Limit?

[jb5]

Anyone understand what the rules are for this new $1000 peso per day maximum withdrawal?

 

[YanquiGallego]

That must be some sort of joke or misinformation. That´s nothing in Buenos Aires these days!

It´s like the people who don´t want to give you back change for a 100 peso bill and still act like it´s a fortune.

Anyway, from what I understand, limits (ATM ones anyway) vary by bank/branch/location in Buenos Aires.

Moreover, the limit on foreign cards is usually not machine-imposed rather card issuer imposed. If your card has X for the limit you can just keep sticking it in until you hit that limit.

 

[jb5]

http://www.bloomberg.com/news/2012-...ash-transactions-in-financial-markets-2-.html

 

[YanquiGallego]

Wow. I assume this doesnt affect consumer products/services? IE: A restaurant tab over 1000 pesos can still be paid for in cash?

 

[steveinbsas]

I withdrew $2000 pesos yesterday from my US account (in two transactions of $1000 each).

 

[Stafford]

chicos,

Read the article - it says "The measure affects activity in the stock and bond markets, investment funds and in the futures markets."

Nothing about ATM withdrawals, nothing about restaurant tabs.

This is for 'formal transactions'.
I can't imagine they are restricting the amount of money you can take out per day as an individual. That would be another correlito. So actually, yeah, I can imagine that. But it isn't what's happening here.

 

[HowardinBA]

can you imagine Argy banks holding you back from spending money in THEIR favour???

 

[cbphoto]

........ yes!

 

[jb5]

Who does $1000 peso stock and bond transactions?

I'm confused too, but I'm thinking it's another strategy to get people to pay their taxes. Kind of hard to operate en negro if you don't have much cash. Hard to operate a cash only restaurant or any business if folks don't have cash.

 

[lucha54]

I need to add to this question... Since moving here in August I have only been able to take out 1000 pesos at a time. NOT a daily limit, but a transaction limit, and Bank of America charges me a $5USD fee for each withdrawal, plus the bank charges me a bit more than $2USD. Is there any way to get more money in one withdrawal? I think this rule is in place for safety reasons (ie. robbers could be watching and follow you to hold you up) but I am trying to avoid all these fees with every transaction. Wiring the money to Banco Piano comes with a $45USD fee, not including the fees on the Argy side of the transaction, and that also has a max. limit that makes the fees equivalent to using the ATM. Can anyone offer advice on a workaround? THANKS!