Withdrawing From Atms Using Caxton Fx Card

Ian Hampton

Aug 19, 2013
I am moving to Buenos Aires in September and am currently trying to work out how to take money out of my uk account.
I have signed up to a Caxton Fx card which allows me to withdraw money from ATMs worldwide with no fees.
However, I am concerned that I will not be getting a fair exchange rate from the ATM's in Argentina.
I understand that the interest is government rate - this is ok as I have done all my calculations based around this.
Would I be correct in saying that if I was to withdraw from an ATM is would get an exchange rate in the region of £1 - 8.7 ARs
(as of 19th August 2013)?
The govt rate is 8.76 per pound as of today. That's what you would get every time you use any foreign credit/debit card. In the months I've been here I've only used a card twice (within Argentina) and those were emergencies. If you aim for the blue rate, you will be getting over 12.50 per pound. That's a lot. What you should do is bring 9,950 USD worth of Euros. If you can't do all at once and you need to get money on a monthly basis there is a website which is an alternative for the US only Xoom. That website will let you charge any card you want and pick up pesos at a fixed location while getting a rate almost as good as the blue rate. Keep in mind that you will need to go to Uruguay every 3 months to renew your Visa so you can get dollars from Uruguayan ATMs.