UK citizen wants a US dollar account in Argentina!

[hepdoll]

Take a look at Charles Schwab. I opened a brokerage and checking account with them over the phone and they charge me exactly 0 fees to withdraw my money anywhere in the world. No transaction fees, no conversion fees, and they also refund all ATM fees that other banks charge me. Plus their customer service is top notch. I don't know what their rules are for UK citizens but if you can get an account with them, it sounds like they will meet your needs.

FYI when I opened my accounts a couple of years ago, I just wanted the checking account but the brokerage account was required to get the no-fees, I think. Talk to one of their reps on the phone, I found them to be very helpful.

 

[malthus101]

Hi Hepdoll

Just spoke with Schwab UK, the "High Yield Investor Checking Account" is only for US citizens.

It's a shame, it looks like a great facility.

My search continues!

Thanks.

 

[steveinbsas]

Somewhat related Q:

If I have a US citibank account, could I deposit dollars into that account from here?

No, you cannot deposit dollars into any foreign citibank account at a citibank in Argentina.

If not, is there a comparable method of getting dollars over from here?

You can send dollars anywhere using a casa de cambio and they will charge a fee. If you do it en blanco you will leave a paper trail. If you do it en negro you won't even get a receipt.

 

[French jurist]

I'll insist on my solution that you seem to have discarded, noticing you didn't find any solution yet : opening an offshore account in Uruguay (at HSBC for instance).

I had asked back in 2009 but the legislation may have changed a bit since (stricter).

Here are the two emails : my initial question + HSBC's answer (you just need to keep 1K in the account) :

Estimado ********, Haciendo referencia a su consulta le informo que para abrir una caja deahorro el monto mínimo es de U$S 1.000.-, por debajo de dicho monto tienecosto mensual, la documentación que se necesita es la siguiente: documentode identidad y si es casado fotocopia del documento del cónyuge, recibo desueldo (ó constancia de ingresos hecha por un contador), una copia de uninsumo que esté a su nombre para corroborar el domicilio y firmar ladocumentación del Banco. Usted es ya es cliente de HSBC? Cuál sería la operativa de la cuenta? La tarjeta de débito es opcional y tiene un costo mensual de U$S 5.-, condicha tarjeta puede operar en Argentina, la cuenta es multimoneda puedetener euros, dólares ó pesos uruguayos. Cualquier consulta estamos a las órdenes. Atentamente Myriam B GOVEAPFS Department | HSBC Bank (Uruguay) SAItuzaingó 1389 Montevideo, CP 11000 URUGUAY ___________________________________________ Phone. 598 2 915 33 95 Ext. 700 Fax. 598 2 916 01 25 Email. [email protected] ___________________________________________ To: <[email protected]> cc: Subject: Pregunta : cuenta no residente ****** <***** > 22/01/2009 11:04 a.m. Hola, Soy un frances radicado en Argentina.Me gustaria abrir una cuenta en un banco Uruguayo y quiero saber si ofrecesesta posibilidad ?Cuales son los requisitos ? Hay que dejar una suma minima en la cuenta ?Hay posibilidad de tener una Visa de debito ? Gracias por contestar, ***

 

[malthus101]

Hi French Jurist

No, I still have it in mind, I am going to call HSBC and ask if it's still possible.

Can you tell me the benefits that you have got from having the account in Uraguay?

Thanks

Malthus101

 

[jago25_98]

Malthus,
Requirements to open a bank account in Uruguay have tightened during the past years but it's still feasible.

can you tell me more? I walked into the main bank in Colonia and they didn't seem to understand what I was saying, deliberately I think. I wondered if it's all hush-hush and taboo?

I wanted to research how to open a deposit box though, not an account.

 

[Philsword]

To open a US bank account, just go to a bank in the US and do it ( as long as you do it in person there are no restrictions ), then use your debit card to withdraw money here ( you will only be allowed to do so in pesos as a non resident)

This is good advice. Don't bother opening an account in Argentina with the expectation you are going to be able to transfer money into it from overseas. This is a very difficult process in Argentina. I tried exactly what you plan on and had to abandon the process after two or three transfers which took weeks to accomplish with high fees. Don't do it.

 

[jago25_98]

Is there anything the OP is losing out on by using a foreign account rather than a Arg account?

For example, there's the 15 peso fee.
And I presume using RapiPago is not possible, or at least harder with a foreign account.

I'm just wonder whether to get a local account:
http://baexpats.org/expat-life/14293-opening-bank-account-foreigner-without-residency.html

myself... and wondering whether it's possible in dollars too, withdrawing in pesos locally to avoid inflation. I thought perhaps it be a good idea to set it up in case it might come in useful at a later date for visa purposes.