So, is there a reason to have a bank account in Argentina?

rob0001

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I understand not saving your money in a bank account in Argentina due to the past "theft" of people's dollar accounts.
But is there a good reason to have an account and why?
Thanks for your help.
 

lunar

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Bank account usually comes with a debit card. So, you can buy stuff online.
Also online banking and paying bills without leaving your house is nice.

Or are you talking about dollar accounts specifically?
 

Quilombo

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Yes, for a few of reasons:

- Ease of use; assuming the money you have is en blanco (i.e. from savings abroad/pension/legal job here) it's a lot easier to pay for stuff now that the largest peso bill in circulation is worth less than 5 USD
- You get discounts for paying with debit cards at certain retailers on certain days
- You can pay your ABL, AySA, Edesur/nor, MetroGAS, phone, internet, etc. online via bill pay or with a debit card
- You can buy stuff from Mercadolibre and other online retailers with debit
- Some retailers offer discounts if you pay via bank transfer since they're charged a fee for processing debit/credit cards
- If you have permanent residency and demonstrable income you can get a credit card which comes with perks of it's own
- You can buy USD cash at the solidarity rate which is cheaper than the blue

Hope this helps!
 

SecretShopper

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Two giants reasons for me. Online purchases and not having to worry about having enough cash in your pocket for large random purchases.

I have converted all of my online services to Argentine accounts. Disney plus is like 1.50 a month including taxes, netflix 4.50 a month with taxes for the HD plan, Xbox Game Pass like 5 bucks.. so on and so forth.

I had to abandon my trip 3 days early in Patagonia because I didn't factor in paying hotels in cash so that I'd receive half off what the amount would have been if I paid online in dollars. I ran out of cash early and was impossible to find a WU that had cash. It was either swallow my pride and pay with my US card.. or return early. I returned early.

Having a debit card can be super helpful if you are here a long time. I still mainly operate cash only but I now keep a debit card with a few hundred thousand pesos in the bank for unexpected purchases when I don't have enough on hand.
 

rob0001

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Bank account usually comes with a debit card. So, you can buy stuff online.
Also online banking and paying bills without leaving your house is nice.

Or are you talking about dollar accounts specifically?
Yes, now I understand that having a local, in-country, debit or credit card is useful.
I have no idea if I need one or the other or both pesos and/or dollar accounts. Any thought?
 

rob0001

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Yes, for a few of reasons:

- Ease of use; assuming the money you have is en blanco (i.e. from savings abroad/pension/legal job here) it's a lot easier to pay for stuff now that the largest peso bill in circulation is worth less than 5 USD
- You get discounts for paying with debit cards at certain retailers on certain days
- You can pay your ABL, AySA, Edesur/nor, MetroGAS, phone, internet, etc. online via bill pay or with a debit card
- You can buy stuff from Mercadolibre and other online retailers with debit
- Some retailers offer discounts if you pay via bank transfer since they're charged a fee for processing debit/credit cards
- If you have permanent residency and demonstrable income you can get a credit card which comes with perks of it's own
- You can buy USD cash at the solidarity rate which is cheaper than the blue

Hope this helps!
All good...but what rate do you get paying with a debit or credit card?
 

lunar

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Ahhh, so you suggest only getting a peso bank account and not one in dollars, correct?
Getting an account in dollars is not straightforward at the moment. Especially for people without verifiable local income.
 
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