Pesos in the US=No Good

YanquiGallego

Registered
Joined
Jan 18, 2012
Messages
265
Likes
176
Well obviously. However, last week I called my banks phone service and was told that being as I was a bank customer, if I wanted to bring some pesos, exchange them for dollars, and deposit them into my account, that they did offer this service.
Perhaps naively, based on my conversation with this customer service rep, who otherwise seemed to know what she she was talking about, I flew to the states with about 16.000 pesos hoping to deposit them into my account in dollars.

Out of curiosity, once at my initial destination in the states, Atlanta, just to see what the exchange house rate would be, I literally went to all the currency exchanges from concourse e (international) to a and was told by all of them, including the major airport one, travelex, and all of them told me the same thing- their companies had suspended any and all transactions having to do with argentine pesos.

Once I got to my bank, Chase, the branch manager indeed confirmed, much to her own surprise, that while they are glad to exchange currencies as a service to their clients, Argentina was out of the question. This piqued her interest and she called the foreign currency office of chase who told her it had something to do with the "unrealistic and undetermined currency value" and that basically to cover their butts Chase was not going to touch Argy pesos. She felt so bad about this that she literally called other banks (great customer service- how I have missed thee) everything from major ones , bank of America, wells Fargo, to smaller ones and most said the same thing, that they do offer currency exchange services but exclude the argentine peso at the moment.

Basically, I feel like I have a "store credit" for Argentina. Thankfully I did bring along the cards and mom is here. Just wanted to give anyone who is coming a heads up, spend those pesos !
 
"unrealistic and undetermined currency value"

This means that the real exchange rate should be something like U$S 1 = 10 pesos?
 
YanquiGallego said:
Basically, I feel like I have a "store credit" for Argentina. Thankfully I did bring along the cards and mom is here. Just wanted to give anyone who is coming a heads up, spend those pesos !

Spend those pesos! http://ar.finance.yahoo.com/q/bc?s=ARSUSD=X&t=5y&l=on&z=l&q=l&c=

That's the ARSUSD over the past 5 years. The constant BCRA interventions are just little blips on the chart. Unless something changes fundamentally in Argentina, the trend will continue.
 
So whose picture is going to be on the new AR$ 1.000 and 500? Peron, Evita, Maradona, El, Gardel, Mercedes Sosa, Larry, Curly, Shemp or Moe.
 
Tangerine said:
So whose picture is going to be on the new AR$ 1.000 and 500? Peron, Evita, Maradona, El, Gardel, Mercedes Sosa, Larry, Curly, Shemp or Moe.

more like the belgrano and gaucho riviero....
 
Can anyone confirm this? This is a serious problem for me if true, not being able to get dollars her or there.
 
Ok, so the thorough and lovely bank manager at my Chase branch looked into this matter further, and said that Chase would be willing to buy my 16.000 pesos for around $2,400 USD for my being a bank customer. (I appreciated her follow up, pero NI EN PEDO)

I asked her where they got this exchange rate from, as I´d be curious to know what measures they use to come up with it, or if JP Morgan (or the other US banks) know something we don´t. Quite frankly, I trust the US banks A BIT more than the Argentine system.

She says that the rate quoted by sites such as XE (which is what I showed her when she quoted me this rate) was not what was followed by JP Morgan, as this is not what the ¨real and every day transaction value¨ is dollar to peso. It is a company wide measure that they use and all branches are the same because it is all one system.

Furthermore, they are having issues with travellers, especially ones that are not used to this whole fiasco, thinking that the signs posted on shop windows saying ¨DOLAR 5,20¨ also holds true to credit card transactions, and many people seem to be disputing charges when the bank charges them the ¨official¨ rate on CC purchases.
 
Thanks so much for this info! I had asked about this a little bit ago so its nice to see recent stories about changing pesos. We have no plans to move back, but we are trying to buy dollars at every chance.

I would hate to leave here eventually with money that can't be used..

Thanks!!
 
My idea was to deposit all my left over pesos here, when I move, in my Santander Rio account and use my Santander Rio credit card in the states. Then just go online and pay my credit card with my left over pesos, until I have used them up. It makes sense to me now, however I am sure some new rule will come up....
 
Back
Top