Withdrawal Daily Limit

[khairyexpat]

Just out of curiousity, does anyone know what is the rational behind imposing a daily limit on ATM withdrawal from a Foriegn Account ? (Extra money from outside the country to SPEND in Argentina)

 

[Rich One]

Just out of curiousity, does anyone know what is the rational behind imposing a daily limit on ATM withdrawal from a Foriegn Account ? (Extra money from outside the country to SPEND in Argentina)

Will repeat ... for security purposes if they drag you at gunpoint thru several ATM's the daily limit will protect your cash....

 

[khairyexpat]

No really .. what is it ?
Never heard of anyone who refuses to accept extra cash.

I had an incident once. When I came out of the ATM a kid and his mother. She asked me the time (for distraction) on my left. The kid on my right with his hand in my pocket. Fortunately I managed to grab my money back out of his hand .

 

[khairyexpat]

Will repeat ... for security purposes if they drag you at gunpoint thru several ATM's the daily limit will protect your cash....

Thought you were joking. But Bajo_cero gave me the same answer. It is no joke then. Wow !!!!!

 

[jblawton]

Agreed. The per-ATM limit is to protect cash reserves at each ATM. The daily limit --in many countries both are the same value-- is to protect you from being 'express-cleaned' either by being dragged at gunpoint or by having your card+pin stolen (it would take you a few minutes to notice it's missing and report it).

 

[Dublin2BuenosAires]

I dont know that I have ever been anywhere without a daily limit? Previously my irish or uk acct limits applied wherever I was.

 

[khairyexpat]

I dont know that I have ever been anywhere without a daily limit? Previously my irish or uk acct limits applied wherever I was.

Well, you are right in a way, the original Canadian daily limit is (US$1500).
But, I meant to ask about the additional Argentinean daily limit (US$100), and I believe Bajo_cero & Rich One gave me an answer.