ATM's [Archive] - Argentina Private

Moore

10-31-05, 18:14

Any of those places that give you a preferential exchange rate for retail sales would give you a better nominal price in pesos. It is an illusion, a snare and a delusion, and I am surprised you would fall for it. Econ 101.Incorrect I say.

Economics 102. If you have some kind of indisputable discount from a negotiable purchase price, then you mention the discount after settling on the final price. That way the seller is not factoring in the discount during the negotiations.

On the suits thread, I posted about a fairly large purchase I once made at Dior. I negotiated only in pesos and got a very good discount since I bought 2 top-quality suits, ties, overcoat, etc. I knew, however, that the store was offering 3.30 pesos per cash dollar, about a 10% premium. When I bought all this, I didnt have cash dollars on me, but I needed to return about a week later to pick up the tailored items. So I left about a p300 deposit and returned with the US$ and got the discount.

El Greco

11-01-05, 22:36

Incorrect I say.

Economics 102. If you have some kind of indisputable discount from a negotiable purchase price, then you mention the discount after settling on the final price. That way the seller is not factoring in the discount during the negotiations.

On the suits thread, I posted about a fairly large purchase I once made at Dior. I negotiated only in pesos and got a very good discount since I bought 2 top-quality suits, ties, overcoat, etc. I knew, however, that the store was offering 3.30 pesos per cash dollar, about a 10% premium. When I bought all this, I didnt have cash dollars on me, but I needed to return about a week later to pick up the tailored items. So I left about a p300 deposit and returned with the US$ and got the discount.It worked for me too last year at Dior. I did the same. Discount first then I paid the discounded price with euros. If I can recall correctly it was 4.00 pesos to the euro.

Last year they were giving those tax refund papers and I also got the VAT refunded at the airport, some 500 pesos.

Last April they did not. They said they discontinued to be part of this program and I discontinued to shop at their shops.

El Greco

El Greco

11-01-05, 22:50

I arrived at 01:00 last Saturday morning at EZE.

I always use the above ATM located on the left just before the exit to the street for the remises. It can be easily spoted.

This time I punched 1.500 Pesos and I got them at once.

El Greco

OslersVoice

11-02-05, 10:52

When leaving the country - What is the best way to change your money back to dollars?

Sportsman

11-03-05, 00:27

When leaving the country - What is the best way to change your money back to dollars?When I travel, I never exchange local currency back to USD. I normally save it for my next trip. If I'm not planning to return anytime soon, I would use the remaining cash to pay my hotel bill or rental car and put the balance on the credit card.

El Greco

11-08-05, 02:56

When leaving the country - What is the best way to change your money back to dollars?Downtown ATMs are giving away Castellanos dollar bills lately.

So the best thing to do is change, whatever is left, at the airport bank before passing immigration.

Minus 2 pesos for your next visit luggage trolley.

El Greco

Cactus

11-08-05, 12:16

El Greco.

Thanks for info on HSBC ATM at airport! They are my bank and don't charge me any fees or commissions. Do you know of any HSBC ATM"S downtown in the Recoletta area?

Stormy

11-08-05, 20:42

There is one on Callao near the intersection with Vincente Lopez, I think.

Mickey Mouse in other days used to withdraw huge sums from there, but I'm not sure what for.

El Greco

11-08-05, 22:17

El Greco.

Thanks for info on HSBC ATM at airport! They are my bank and don't charge me any fees or commissions. Do you know of any HSBC ATM"S downtown in the Recoletta area?Do not know for Recoleta but there are many of them around the city.

One I know is on Paraguay near Maipu corner.

El Greco

Sportsman

11-09-05, 00:06

Do not know for Recoleta but there are many of them around the city.

One I know is on Paraguay near Maipu corner.

El GrecoThat location sounds like my favorite ATM to withdrawl money, the address is Paraguay 720 which is between Maipu and Esmeralda. The reason is when I withdraw 500 pesos there, I usually gets 50 - 100 pesos in 10 pesos bills. They come in handy since I always like to give exact change in privados.

Tbird

12-19-05, 06:00

I do not believe this has been addressed in the esteemed forum. I am asking because in Colombia there was only 1 bank that would accept an AmEx-branded card for cash (Bancolombia) What is the situation in BA? I would love to use my Travelers Cheque card for cash (I load it through my Hilton AmEx card and earn points in the process, a win-win setup) So, do most machines take Amex cards or are there any special ones?

Waterboy

12-19-05, 09:31

Tbird

12-19-05, 16:03

Looks like I should be using REDLINK-branded ATMs. There seem to be dozens of them. Problem solved, I guess.

Exon123

01-12-06, 18:41

You havent sean the interest bill yet on your credit card either.

Don't come to Argentina Mongers without a Debit card, it makes things so much easier.

Also never change money or withdraw on you debit card on Friday's. They Fuck for as much as 5 pesos on the exchange rate.

Seams they don't want the exposure over the weekend.

Exon

Dickhead

01-12-06, 21:31

Also never change money or withdraw on you debit card on Friday's. They Fuck for as much as 5 pesos on the exchange rate.

Seams they don't want the exposure over the weekend.

Exon[/QUOTE]That is the second time you have mentioned this so I must now say:

WRONG!

If they did not want peso exposure over the weekend they would give you MORE pesos for the dollar, not FEWER.

Hello? Supply and demand? Let's review. I don't want pesos. So, I want dollars or euros or Swiss francs. There is a finite supply of each currency. My lack of desire for pesos decreases their value. My desire for dollars or euros or francs increases their value. Therefore each dollar or euro or franc or Albanian lek will cost MORE pesos to buy.

Clear?

Moore

01-13-06, 03:27

Out of curiousity, I just checked my online account Exon. There was no difference for my Friday debit card withdrawls, save a few cents+/- but that happens almost every time just due to normal fx variations.

I assume "fucking" you on the exchange rate means unfavorable variance. Although I disagree with the way he said it, Dickhead is right. If they didnt want to hold pesos they would pay you more pesos / USD (actually the same amount of pesos for less USD in the case of ATM withdrawl) Regardless, it doesnt happen to me.

Dickhead

01-13-06, 11:40

Definitely you said (twice) that one should not change dollars for pesos on Friday because one would get fucked. But anyway I am in Mendoza, staying in a nice clean 2 star hotel for 40 pesos, flying directly in the face of Jackson's completely ridiculous statement that his "first class apartment" rents for the same price as a 2 star hotel room. And he does not provide breakfast like my hotel does.

There is also a lot of good, reasonably priced pussy here but I am not going to report on it because I don't want to contribute anything useful to a board owned and run by someone who insults me at every opportunity.

Also I was in Perú where I stayed in nice 3 star hotels for 55 soles which is about 48 pesos, and in okay 2 star hotels for 35 soles, and the last night I stayed in a 10 sol hotel near the Lima airport. I always wanted to stay in a three dollar hotel and now I have. Boy, was it sleazy. They charged one sol for soap and 2 for a towel. Fortunately I had my own but just for research I asked to see a towel. Have you ever seen a formerly white towel that has turned evenly beige? It's not a pretty sight, I assure you.

I met two really dumb girls from the UK last night and we went out and played a variety of games: pool, duck pin bowling, and finally chess. The loser had to pay for the games and the beer and I assure you I never lost so it worked out well. Then I ditched them for a hooker. Ha ha. This town is about 25-30% cheaper than BA for most things and wine is really cheap. I prefer beer but have adjusted quite nicely.

Hunt99

01-13-06, 13:37

Nice to see you posting again, DH. I for one would enjoy you telling us about Mendoza, and am sure that others feel the same way. However, I thought I would comment on a couple of things you posted.

flying directly in the face of Jackson's completely ridiculous statement that his "first class apartment" rents for the same price as a 2 star hotel room. Mendoza is not Buenos Aires. When Jackson moves his apartment from Buenos Aires to Mendoza then such a statement might make sense. $75.00 a day for an apartment is less than many hotels (including 2-star ones) charge in Buenos Aires.

I am not going to report on it because I don't want to contribute anything useful to a board owned and run by someone who insults me at every opportunity. I must have missed the part where he was insulting you by allowing you to post at will on his board, and by his having had you as a dinner guest in his home 10 or 20 times.

As for the "every opportunity" part, I just reviewed Jackson's posts on the board. You haven't been mentioned in a post he made since at least last September. In September, he described an incident at El Alamo restaurant wherein you had too much to drink and did something which people who have too much to drink tend to do. And I think he described it pretty diplomatically. I don't think that qualifies as insulting you at every opportunity.

Anyway, why didn't you use the old DH magic and get those two ditzy Brits into bed for a threesome? If they were good-looking enough to drink and bowl with, they were certainly good-looking enough to service the little guy, weren't they?

Hi Hunt,

DH sent me a PM a couple of months ago advising me that I had insulted him in some manner, but he's never enlighten me as to exactly how, and I've been unable to identify the transgression myself.

Thanks,

Jackson

Moore

01-13-06, 19:09

There is also a lot of good, reasonably priced pussy here but I am not going to report on it because I don't want to contribute anything useful to a board owned and run by someone who insults me at every opportunity. I'm sure this is simple Dickhead sarcasm that some members took seriously for some reason. BTW Dickhead, I would be very interested in your Mendoza reports. I went once a few years ago and although I liked the city, it seemed rather tame. I was there with my then GF so I couldnt scour for P4P - Id like to know what you found.

I always wanted to stay in a three dollar hotel and now I have.Congratulations on achieving another milestone of yours. Jackson's apt is a first class place which you would know if you ever visited it. I'm sure you could find a "2star" room in a shitty location on Corrientes Av for less. However, his perfectly located, modern, well-furnished apartment is quite a bargain at $75. A comparable 3 room suite at the Recoleta Suites, about 50 meters away, would probably cost several times that amount.

This town is about 25-30% cheaper than BA for most things and wine is really cheap. I prefer beer but have adjusted quite nicely.Keep pinchin' pesos for us Dickhead. And be careful with the wine, it will fuck you up more than you might expect. Although it appears that you have adjusted quite nicely, since the bubbly, positive, carefree, happy-go-lucky Dickhead has returned.

Hi Moore,

The reference was to a previous series of posts wherein one Forum Member advised the Forum that he patonizes the more expensive clubs and deliberatly pays the girls more that is required because he believes that the more expensive working girls have a reduced rate of STD infections.

Thanks,

Jackson

Dickhead

01-13-06, 19:27

I have visited Jackson's apartment and certainly it is quite nice and better than a 2-star hotel. But as usual Hunt the former O t t o G are a h a m is full of it, because there are no $75 US two star hotels in Buenos Aires. Here are some 2-star hotels in which I have recently stayed in BA, with prices:

(my favorite) Gran Hotel Vedra 60 pesos (rack rate is 64 or 74 depending on the room; rooms vary considerably in size and quality)

Hotel Marbella 75 pesos.

Hotel Europa 70 pesos.

Vedra and Marbella include a mediocre breakfast for this price. Marbella will charge you for a double room if you bring a chica in, even if she doesn't stay very long. I refused to pay the last time and haven't stayed there since, but I just checked the price on I believe it was Monday.

Although I have been "invited" to the mansion many times, I have on every occasion either paid money, at least 25 pesos, or cooked, or both. Every single time. I have no problem with that.

I was not even slightly drunk that night at the Alamo and greatly resent comments to the contrary by fucks who weren't even there. Just like I resent Hunt's comment about me being a drunk who can't hold a job, which he quickly deleted. I've had the same job for six years now. Now you want to talk about a drunk, talk about the owner of the Alamo. There's a fucking drunk for you. Hunt has certainly never seen me drunk; I've only ever met him once.

It used to be there were a bunch of good guys on this board and a few assholes. Now it is mostly assholes like Marak and Goblin and Moore (what an argumentative douche bag) and a few good guys.

So fuck off.

TangoManiac

01-15-06, 08:03

I found that all the banelco ATMs SUCK. I raised my limit with Wells Fargo in the states to 500 dollars per day. There are some LINK ATMs near Callao and Corrientes that I use to take out 1500 pesos a shot. I have done it twice.

The Banelcos would only let me take out like 500 at a time. The fuckers. Grrrr.

It costs me 10 bucks every time I use the ATM. What a rip off!

Spassmusssein

01-15-06, 21:16

-may be the mudfight aside ATM should be extinguished:

The ATM usually without probs handing out twice 1000PS are in Galeria Pacifico (Basement and subsuelo) Fridays afternoon the ATM oftenly are limiting the output to 500, usually NOT in the Galeria.

Getting back to mudfight: not even 3 star hotel rooms charge 75USD = 227,50Ps.

Moore

01-15-06, 21:53

ATMs-

I have never been able to take out more than p500 per transaction at any ATM machine, and Ive tried many times. The daily limit on my bank card (huge US bank with Interlink and Plus symbols on back) is US$400 I think. So I should be able to withdrawl about p1200 in one shot, but local ATMs often impose their own restrictions. So when I need more than p500, I have to make 2 back-to-back withdrawls of p500, which means getting dorked twice for bank charges. I guess Ill try the Citibank on Callao and Alvear recommended below since its close.

Mudfight-

I've found the star rating system to be quite unreliable in Argentina. I've paid fairly big bucks to stay in "5star" hotels here (Hotel Argentino in MardelPlata, PanAmerican in Bariloche, Sheraton Iguazu) that ranged from shithole to "average", respectively. Then stayed at "1stars" like Tirol in Bariloche that were great (and cheap). I've found that there is a correlation between between stars and price in Argentina, but not much else. From what I've seen, there are probably less than a dozen hotels in this country that would qualify as 4/5 stars in the USA. Just having laundry service and a bellboy doesnt make a hotel a 5 star, especially when the rooms look like the filthy fuckrooms at Envidia.

Sportsman

01-15-06, 22:24

My bank has 400 USD per day ATM withdrawl limit too. But the few times I tried to withdraw 1000 pesos, they were denied. That's ok as I normally don't spend more than 500 pesos cash per day anyway. ;)

It costs me 10 bucks every time I use the ATM. What a rip off!I have made ATM withdraws in number of countries in Europe and BsAs, the transaction fee always has been 1 USD each. So I can't really complain.

Thomaso276

01-15-06, 23:12

Open a HSBC checking account in USA. Keep a minimum of 15,000 in the account. Withdraw with a HSBC debit card from that account anywhere in the world at HSBC branches - no fees, official exchange rate. I have pulled 2 mil pesos at one time. Limit of one pull per day. I do not know the max amount you can take out daily. Maybe someday I'll enter 3 mil and see what happens.

Other tips: keep much more than 15g in the HSBC account to avoid shortage. After all, we are not micromanaging a few dollars here. This is spending money and to be used for impulse purchases. Order a second debit card after receiving the first. Keep it as a backup in case of damage to magnetic stripe on the one you use frequently. You would not want to be without a working card while on vacation, or while living here. Although I did have a card delivered to local BA branch from home office of HSBC in Buffalo.

HSBC account can be opened by mail, probably internet as well; plenty of info needed due to Patriot Act.

Moore

01-15-06, 23:52

Thanks for the info Thomaso. US$15k is kind of a large minimum balance to have just sitting permanently in a checking acct though. For me checking is just a clearing acct, I rarely have much more than 1k in it for very long. The ATM debit fees on my card are low and p500 is usually plenty for my daily cash needs. More than anything, its just a pain in the ass occasionally having to make multiple withdrawls over several days when I need a larger cash sum for something.

For instance, its much cheaper for me to just ATM withdrawl my entire monthly cash requirement (rent, bills, etc) even though it takes several transactions over several days, and then deposit it into my local Argentine bank acct, from which I pay everything electronically via transfer or pagomiscuentas.com, than wire transfer money from my US acct to my Argentine acct. That wire transfer costs a flat US$100 (40 in USA plus 60 here). I prefer to not hold more than a month or 2 worth of expenses in an Argentine bank acct. So doing that every month or so would burn US$1k a year just for wirefee charges.

Stormy

01-29-06, 09:48

Two Citibank ATMs on Santa Fe that I use a lot are now closed Saturdays and Sundays and after 12 midnight during the week. There must be some security or vandalism reason for this as it would seem to defeat the whole purpose of an ATM.

HSBC atms still operate normally, though for me, that means a transaction fee. I will be curious to see if the Citibank ATM at Callao and Alvear which normally has a policeman in front is also shut down in this manner.

Exon123

01-29-06, 15:22

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Mpexy

01-29-06, 17:30

FYI - I use the Citibank at Callao and Alvear and it's still open 24/7 inc weekends.

The two Citibank labelled ATMs on the right don't ever seem to give more than 500p, even if you have a Citibank account like I do.

The Banelco labelled ATMS machines on the left will give any amount including withdrawals I've done up to 2500p - might do more but never tried. Usually just get 1500 to 2500.

Note - even though it's a Banelco branded ATM, since it is inside the Citibank branch, if you have a Citibank account, you get zero charge for ATM withdrawals - no foreign currency conversion fee, no non-Citibank ATM use fee, and no charge from Banelco for using the ATM.

On average, I've seen zero correlation between day of week vs. What exchange I got. The exchange rate I get is what is current as of the world market at that time. So I've been getting anywhere from 3.01 to 3.04 usually.

Exon123

01-29-06, 18:36

I keep it simple and use the Bank, (What ever its name is) right next door to El Alamo Bar & restaurant.

Both the Bar & the Bank's ATM machine are open 24/7 365 day's a year. Save's on Cab fares and I can eat, drink & be merry knowing I have no money in my pocket.

Exon

Artisttyp

05-15-06, 20:21

I just got a statement from Chase today from my activity in Buenos Aires. Everytime I used an ATM I paid a $3 International Cirrus Fee and an average of $7 3.5% rate adj fee. So I called Chase since I've never noticed the 3.5% bullshit and they tell me its always been there just presented in a different format on my bill. So I ask what if I take out US dollars and exchange my own fucking money and a supervisor came on and said same thing because I'm in a foreign country dollars / pesos no matter what it gets adj. Then I probed further and asked who gets the $3 fee who gets the 3.5% fee. Chase gets the $3 fee and half of the 3.5% fee sharing it with Mastercard.

So its either walk around with a shitload of cash and risk losing everything or pay or deal with travelers checks which ARE NOT widely accepted as is advertised.

Does anyone know about this bullshit. Are any other banks better? I only stick with Chase because I feel I would get better served If I had trouble someplace or with id theft. I don't fucking know everytime I come back to america I want to leave. We seem to fuck each other over in america then deem it as success if we can get away with it. Anyone else have this problem? I can't imagine living in Buenos Aires and paying that everytime I needed money. FUCK!

Hi Artisttyp,

You mentioned an 3.5% fee to MasterCard.

Were you using a Chase ATM card that deducts directly from your bank account, or were you using a Chase MasterCard and taking a cash advance on the credit card?

There is a difference.

Thanks,

Jackson

Moore

05-15-06, 20:47

My ATM and credit cards are Chase. Never take money out on your credit card - they hit you with a flat US$10 fee/withdrawl, charge an approx 3% conversion fee, and start running the big vig on your cc balance. I know this because I did it by mistake once (the cards look almost identical). Getting into debt with a CC company is worse than with the Russian mafia. For regular CC purchases you just get the conversion fee so there giving you about 2.98/USD instead of 3.07/USD.

On the ATM card, its a flat 1.50 cash withdrawl fee and a negligible conversion fee (recently I'm getting about 3.07/ USD which is the best market rate).

I make relatively few credit card purchases here and maybe 6 ATMs per month. So my total month cost is maybe US$9 ATM fees and US$9 CC conversion fees, which isnt really a killer IMHO. I'd never travel with a load of US100bills just to save a few pennies.

Rock Harders

05-15-06, 21:26

Artisttyp-

As you may have noticed, there are many Citibank branches throughout Buenos Aires. Although they are useless in terms of actual banking inside the branches, US Citibank cardholders can use the Citibank machines (NOT the Bancomat standard ATM which is also in the bank lobby) to get NO FEE ATM withdrawls / balance check / transfer between accounts just as in any Citibank machine in the USA. As such, it is possible to withdrawel money from your USA Citibank checking account at the best market rate with no additional fees. I have a US Citibank account for this explicit purpose.

Suerte,

Dirk Diggler

Artisttyp

05-15-06, 21:52

Moore-

I have a Chase debit card (MasterCard logo) and a Chase Visa. I never get them confused. If your telling me we more or less have the same system then you must have a different type / level of account than my normal checking account. I was told the only way to get around it would be to have a higher level account with Chase where they don't charge you this fee as a courtesy. Can you maybe pm me and tell me what you have? I plan on going to Chase in person tommorow. I've never noticed this before. I never take money out on my CC for those exact reasons you mentioned.

Diggler- I was surprised to see a Citibank in Buenos Aires period. I've never seen them before in any other country I've been too. Usually there are 2 or three banks which I always see but can't produce the names for you at this moment. Again what kind of an account do you have set up? Pm me if you can.

Have you traveled to other countries and gotten the same service / courtesy?

I guess I need to make the max withdrawl everytime. It's difficult since I always go to crazy countries (in a good way) Buenos Aires would have been someplace I could have brought more cash.

I'll see what my bank offers or I'll just add it to my expenses while I plan my trip.

Thanks

Moore

05-15-06, 22:06

I dont think my cards / accounts are special. Yes the CC (both have visa logos on them) has a pretty high limit but its not "platinum" or anything like that so far as I know. No annual fee and interest is 19.8% , which I never incur. My checking (called value) is as basic as it gets, I never have hardly any money in there unless something is in transit for a day. No monthly fee ($10) if I maintain >$500 balance. Everything, except ATM fees, is free with it. Unlimited checks, electronic payments, etc.

I don't know what else to say - I log on to both accounts at Chase.com.

Jaimito Cartero

05-15-06, 22:47

I still find that Paypal is the best overall debit card that I've found. $1 fee to withdraw, and 1% conversion fee (goes to Visa / MC) only. These will work in any ATMs around the world.

Artisttyp

05-15-06, 22:52

Can you request paypal from any bank or does your bank have to use the Paypal system?

Jaimito Cartero

05-15-06, 22:54

Can you request paypal from any bank or does your bank have to use the paypal system?You need to have a Paypal account to do it. Pretty easy to do, though.

El Perro

05-15-06, 23:17

I still swear by USAA Federal Savings Bank out of San Antonio. An "internet bank" with home office in San Antonio. Originally designed solely for members of the Armed Services and their families. In fact, most of their current services are not available to the general public. Their banking services are, however, as they must offer them to the public by law. They are very expat friendly as you might imagine, great customer service, and I pay 0 fees or % drawing on my debit card in BA. I am not a financial wiz, so I can't go into detail about all the benefits. They were recommended to me by an expat who was down here before I relocated. Check out their website:https://www.usaa.com/inet/ent_logon/Logon

Dog

Rock Harders

05-16-06, 00:12

Artisttyp-

There are Citibank locations throughout Latin America in Argentina, Bahamas, Brasil, Chile, Colombia, Dominican Republic, Mexico, Peru, Puerto Rico, Uruguay, and Venezuela. The Citibank ATM network is the same worldwide, all this according to the citi.com website.

All I have is a standard checking account with no minimum balance and a backup line of credit that has an interest rate so low it is almost non-existent. I do not have any fees or minimum balance because I was able to secure a year fee waiver by flashing my old student ID card when I opened the account last August.

Suerte,

Dirk Diggler

Artisttyp

05-16-06, 13:02

Ok I just came back from Chase and had a disscusion about the 3.5% fee on top of the normal $3 fee. The fee is waived only if you have an account with $75,000. So everybody who has a chase account with less pays.

I was told on the phone its always been there but just hidden in the statement. Today she told me it just started a year ago. I will check out Citibank and see what they say.

Yet another reason to hate this fucked up country. On top of it the ***** gave me attitude. I hope this country burns or has civil unrest. Sooner or later that will be the only way to get anything done.

Bottom line walk with cash and chance getting robbed or invest in travelers checks and risk wasting half your fucking time waiting in long bank lines.

The American Express office in BA was full of pissed off tourists also. There was one guy going through hell with the new American Express travelers check card. He said nobody in South America would accept it so he was trying to liquidate it into cash. Try getting that done in a foreign country!

Dickhead

05-16-06, 13:37

Open an account with E-Trade. Free ATM card, free unlimited ATM withdrawals, and only a 1% foreign currency conversion fee. Free free FREE. And free is good.

Oh yeah, no IRA fees either.

Fuck Chase bank, and the horse they rode in on.

Jaimito Cartero

05-16-06, 14:30

Well the thing to remember when in foreign countries, is to have some different forms of payment on you. I take one debit card, a couple of credit cards, plus some cash. If one fails, then you have some good backup. I haven't used traveller's checks in over 10 years.

In most cases it's the US bank that levies the fees. For those who don't want an eTrade account, Washington Mutual may give you a deal. I went in asking about opening a new business and personal account last year, and asked them about ATM fees. They offered to waive the foreign ATM charge, so they're heading in the right direction.

Artisttyp

05-17-06, 16:47

I went to Citibank today. The run down is this. You can open up a basic checking account with any amount you choose. There is a $7.50 monthly fee if you don't keep an average of $1,500 in your account but you can have that $7.50 fee waived if you pay at least two bills (not direct debit / instead of paper check) online.

The fee for a non citibank transaction whether in America or out of the country is $1.50. Citibank group also owns banamex for $1.50 I couldn't care less.

The only concerns I would have would be the service and ID theft protection which I must say has been more than adecuado with Chase. Can anyone verify Citibank is there when you need them?

I'm thinking of just setting up a Citibank account for travel reasons and continue with Chase for the basics. Also Citibank has a deal with American Airlines which I tend to fly way too often. We shall see.

Savoy

05-17-06, 17:36

IMHO, Citi is the best bank for the expats and travellers, you can access your account anywhwere in the world where they have branches and believe me they do have Citis in many foreign countries. You can get cash without paying any fees, you can even withdraw US$, if you may need emergency cash due to some unexpected reasons, just have your friends, family to deposit / transfer funds to your Citi account hence you have funds available in less than 5 minutes, if you need to contact them then you call a local (wherever you are) toll free number and an English speaking operator (most probably in the US) will help you out (never needed though) If your card is lost or stolen you receive a new one right away as long as Citi operates in that country (you have to visit a Citi branch wherever you are) ATM exchange rate is great. I am quite satisfied.

Hope this helps

Easy Go

05-17-06, 19:54

If you just want an account for traveling cash, it's a bit cheaper to open a savings account rather than a checking account. It's free with a $500 minimum and $5/ month if you drop below the minimum. The only drawback I've found is that you can't transfer money into it electronically after the initial deposit.

I have both Citibank and USAA for travel accounts. That way I'm not using anything linked to my primary accounts when I'm traveling.

Exon123

07-03-06, 04:18

Has anyone ever lost money in an ATM machine?

Tonight I just left $250 US Dollars in the ATM at BNP Paribas at the corrner of Las Harris & Peyrrdon.

What the Hell do you Do? Answers please!

Exon

Moore

07-03-06, 04:40

If the machine "ate" your cash like an ATM card then go to that bank branch tomorrow morning with your receipt. You can retrieve a card that way. People have told me that some of the machines will take your cash back if you don't take it soon enough. I assume that's what happened to you(?)

A US Dollar transaction should be very easy to find.

Exon123

07-03-06, 12:40

I got nothing from the machine, Nothing, but in checking my bank account on line account afterward it showed the transaction completed.

$250 dollars had been debited from my account.

Exon

Moore

07-03-06, 15:28

Go to the bank branch where the ATM is located during business hours, usually 9-3. Bring your receipt.

If that doesn't work, call your US bank and claim a bad transaction like you would with an unrecognized/fraudulent credit card transaction.

Exon123

07-03-06, 18:41

I've already done that, its was interesting.

After waiting a while I got the girl that speaks English. She told me being Sunday night the machine was out of money. She also stated that tonight being Monday night, when my Bank Z's out their computers the money with be credited back into my account.

I Certainly Hope So, more to report later.

Interestingly, Banko Paribas, a huge French International Bank was quoting interest rates.

Really for this Mongers, if you like "Frog's"

Their paying 8% on dollar accounts.

And 19.38 % on accounts in Peso's.

Sorta tell's you why they want all cash for buying property down here.

Also If I trusted the "Frog" Mother Fuckers, I'd think long and hard about moving some Dollars down here to take advantage of the 8 %. But I don't trust the CockSuckers and if its to good to be true it always is, you'll get Fucked somehow.

Exon

Moore

07-03-06, 19:42

Those are probably CDs. 19% on soft pesos isn't enticing, 8% on dollars is at least worth considering and running thru a risk model. Do you feel wise enough to know when the next financial crisis is coming and when it's time to pull hard currency out?

I have some dollars sitting in a BancoRio simple current account and the rate is like 1/10th of 1% pa.

I still prefer Euro-denominated exposed creditor positions in Argentina. In theory, the government can no longer legally (or illegally) convert a dollar to a peso at 1:1, 1:1.40 or any other artificial rate but it's happened before. The law of convertibility is history but the legacy remains. Most hard assets like real estate are still quoted, contracted, and transacted in US$. To my knowledge, that was the case well before the converibility law was enacted circa 1991.

Being on the debtor side of my US$ apartment lease worked out quite nicely right around January-2002. Uptown living at peso prices.

Exon123

07-03-06, 21:04

Whats the difference between a "Soft Peso" & a "Hard Peso"?

Moore

07-03-06, 21:39

How to play a soft peso depends upon the house rules and the dealer's upcard.

My attitude toward Argentine investments is somewhat like my attitude toward casinos - never walk in with money you can't afford to lose.

Exon123

07-03-06, 21:53

Whats a "Soft Peso"?

Moore

07-04-06, 00:14

The peso from 1992-2001 was relatively hard. It could be converted 1:1 for dollars within the Republic of Argentina. After being converted domestically, it gave an Argentine decent purchasing power abroad. The hardness of the "convertible" peso was less evident if taken abroad to distant places like the Sao Paulo airport, where 1 peso would buy about 0.80 dollars. In overseas nations like Miami, one peso was worth 0.00 dollars during the "convertibility" era. In Miami, this stable value has been maintained for many years before, during, and since that period IIRC.

BadMan

11-12-06, 12:49

Does anyone know an ATM that dispenses dollars? I can't find one.

Thanks in advance,

Badboy

Felipe

11-12-06, 14:05

I opened an HSBC online savings account in the US (in dollars) which pays over 5% and got an ATM card which I can use at their branches worldwide. I fund it via transfers from my regular US checking account.

Noodleman

11-12-06, 14:28

I think I found one at the Bank of France or something like that near San Martin and Cordoba. There was an option for Spanish & English and Dollars or Pesos. Hopefully this might help.

AllIWantIsLove

11-12-06, 14:41

IIRC the "Citibank" ATM on Florida across from Galerias Pacifico. IIRC, but since I always withdraw pesos I cannot be sure.

Does anyone know an ATM that dispenses dollars? I can't find one.

Thanks in advance,

Badboy

Capt Dave

11-12-06, 22:19

You cannot withdraw dollars from any machine anywhere unless you have a dollar account at that bank (which you pretty much can't have)

Argentine banking!

:(

David

HombreDeJuguetes

11-13-06, 11:14

You cannot withdraw dollars from any machine anywhere unless you have a dollar account at that bank (which you pretty much can't have)

Argentine banking!

:(

DavidThe BancBoston on Cordoba 1/2 block N of Florida (conveniently halfway twixt Excedra and Orleans) has an option on the screen for dollars or pesos, but I suspect, as David says, you might have to have some special account set up. Don't know, I always get pesos.

AP

BadMan

11-13-06, 11:34

Well thanks for all the help guys, but it sounds like I will have a harder time getting greenbacks in BA than I thought. Does anyone know the reason WHY Argie ATM's don't dispense Dollars. I find this very strange, I have never had this problem in ANY country. In fact MOST ATM's in eastern europe dispense in Dollars Euros and the Local currency, be it Rubbles or Ghrivna. I will keep looking and if I find one I will post the location.

Here's a question, if the ATM's don't dispense dollars, how do you get them in BA? Do you use western union or money gram or is there another way I am not thinking about?

Thanks,

Badboy

Stormy

11-13-06, 13:24

One way to get dollars is through American Express. They will change AmEX travelers checks into either dollars of pesos. I think they charge a 1% fee to change to dollars. There may be other ways to use an AMEX card to get dollars as well, but I don't know the details.

Exon123

11-13-06, 14:21

If you want dollars, I don't know why since the peso is the currency of Argentina?

Go to your nearest "Casa De Cambio" and buy them.

Exon

Hunt99

11-13-06, 14:42

If you want dollars, I don't know why since the peso is the currency of Argentina?

Go to your nearest "Casa De Cambio" and buy them.

ExonTrue, but I think he's trying to avoid the 3-6% loss he would sustain by buying dollars at the cambio versus taking them out of an ATM.

BadMan

11-13-06, 15:29

True, but I think he's trying to avoid the 3-6% loss he would sustain by buying dollars at the cambio versus taking them out of an ATM. Precisely Hunt. I think what I will have to end up opening an account with Citibank. I wanted to avoid this, but I might not have another choice. I will still check out Western Union and MoneyGram, but to be honest, with all the new homeland security measures, they are now limiting the transactions to under 900 US at a time. They might think I am funding Argentine extremists;)

Damn quirky country. Love the babes, but hate the whole banking system.

Badboy

Stormy

11-13-06, 16:03

I have bad news about Citibank. I have an account with them in the states and CANNOT get dollars through them here. I do use my Citibank account to get pesos here in the ATM, but the Citibank people here assure me that I cannot get dollars here through them, nor get an account here unless I am a qualified resident.

Hunt99

11-13-06, 16:42

PLove the babes, but hate the whole banking system.All the Argentinos hate the banking system, too.

If you will need occasional access to larger amounts of USD, you may want to consider opening up an account in a Uruguay branch of one of the big international banks. I do not believe they have the same restrictions. Colonia has a whole bunch of these banks, and Argentinos are some of their biggest customers. And it's only a 45 minute boat ride away from downtown BsAs.

Thomaso276

11-17-06, 22:24

So I went to HSBC on 720 Paraguay this morning for my weekly pull of pesos. First I check my balance (the account is in USA) and then pull 2000 pesos. I always listen for the bills being counted, thereby ensuring the transaction is being completed. I hear the bills flipping, then suddenly the ATM says it cannot complete the transaction. I have seen this message before when the system is down, never after hearing the money start its' fanning. At the machine next to me is a bank employee, young girl, helping another customer (I swear no one here knows how to use an ATM) and I immediately point out I did not receive any money - she concurs. I then re-check the balance and my account has been debited 2000 pesos. I tell the girl to shut off the machine, check for an extra 2g and give me my money. She says they cannot do that. I refuse to leave the machine until some action is taken, but after a couple of minutes I go with her to document the issue.

She then tells me the bank (HSBC) cannot do anything about the problem, but the Banelco people handle these issues. Here comes the phuckin Argie standard excuse of: it is not me it is the other guy. You hear it all the time here. She explains that there is a separate company, division? That handles these reclamos. I tell her I want a boss and some little shit head comes down and tells me it is the Banelcos' problem so he gets them on the phone. I talk to a girl and she says there is nothing they can do because the account is in the USA. I hand the phone back to the little shithead and he listens and then quietly disappears because I am getting pretty hot, and he knows it. Because of the language issue (I speak enuff but not fluently) I tell the girl I want to call my home and have my novia respond. She gives me some bullshit about not being able to get an outside line. When she turns around I pick up the desk phone dial 9 and get a line (I guessed that dialing 9 always gives you an outside line and was right - nice to see some of our systems were accepted by the third phuckin world) - my GF says she will be right over. The security guys, in suits have not said a word to me. I think they were physically intimitated as well.

I go outside for a smoke and see a cop and tell the girl if this is not resolved I will make a complaint against the bank for theft. After my GF arrives we go upstairs and speak to another boss, some girl. I re-explain that this is a common problem, usually involving a few pesos shortage and surely there is a way for the bank to check the machine and if it has 2g extra then it is mine. I am basing all this on the second receipt balance inquiry showing a debit. My big concern is that when I call the USA the bank will tell me that their branches in Arg. Are completely separate entities (and they are) as well, I need some documentation from the bank showing the money was never received.

I point out that there is a collect number to call the bank from overseas and the boss dials it. The service rep (outsourced to India of course) tells me my balance and says there was a deposit of about 650 dollars today. Things are looking up. I am thinking the balance was accurate and somehow the accounting program added back the 2g after the machine could not complete the operation.

I go back downstairs and check the balance and it is back to the original amount. I get home, check the account online (which I will do again tommorrow) and the balance looks right, along with a deposit I never made (but which apparently wiped out the non-witrhdrawal)

I know I blew my top in the bank and felt a little bad but guess what - they did nothing to solve the problem other than to tell me to make a complaint with other people. (felt good to be able to say this is bullshit without anyone understanding what I said) They did tell me if it was an Arg. Account they could have helped me - somehow I doubt that. They also said it would take about a week to solve the problem if it was an Arg. Account. They balance those machines every day at 4-4:30 pm. It just seemed like this is something that has happened before and they acted like "good luck with your complaint" - no forms to sign, no documents, nothing. No come back at 4pm and we'll give you some document showing an overage in the machine.

Like I would open a phuckin account with any of these banking idiots down here.

BadMan

11-17-06, 22:48

Thats a scary story, I can understand why you flipped, I think I would probably have tryed to be a little calmer, but in that situation it's hard to really know what one would do. Losing 700 bucks to an ATM sounds like bullshit. I am glad you got your money back. But dammit, this whole banking thing is really fucked up here. I wanted to open an account here in dollars. But I am starting to have second thoughts. Thanks for the story man. I am glad everything turned out allright. And you are 100% correct, Argie customer service is bullshit.

Badboy

Sportsman

11-18-06, 01:10

Thomaso,

I withdraw money from the ATMs at that exact HSBC branch office all the time when I'm in BA. Mainly for two reasons 1) You only have to swipe the ATM card instead of inserting it, thus less of a chance the machine eating your card in case of problem. 2) They always give out 50 pesos in 10 peso bills.

On one occasion similar thing happened to me there. The transaction went through and hearing the pesos counting but nothing came out. A young lady who speaks some English told me if no money comes out, the transaction did not complete. I checked my account balance online later, the transaction in fact did not appear and my account was not charged for that withdraw.

Stowe

11-18-06, 01:36

I have had the same problem as Thomaso and Sportsman are describing at 2 other Banelco ATM's and have never had an issue. I hear the money, it doesn't come out but my account is not debited.

I did check with my bank upon my return and they told me that if that ever happened they would give me an adjustment.

Suerte.

Stowe

TangoManiac

11-18-06, 05:38

You cannot withdraw dollars from any machine anywhere unless you have a dollar account at that bank (which you pretty much can't have)

Argentine banking!

DavidGo to Colonia if you need large amounts of dollars I guess. If I remember correctly I did get dollars out of an ATM near Punta del Este and when I verified it against the statement it came out 1:1 so there wasn't a Dollar to Urugayo to Dollar thing going on. Someone correct me if I am wrong.

TM

Moore

11-18-06, 20:17

Go to Colonia if you need large amounts of dollars I guess. If I remember correctly I did get dollars out of an ATM near Punta del Este and when I verified it against the statement it came out 1:1 so there wasn't a Dollar to Urugayo to Dollar thing going on. Someone correct me if I am wrong.I'd be surprised if you could get dollars there without paying any fee or f/x adjustment. Even if you could, I'd guess the daily ATM withdrawl limit would negate any benefit. What are you going to do, stay in Uruguay for 20 days as you build up the US$10,000 you need from your US$500 daily limit?

StrayLight

11-19-06, 03:34

Yeah, well, here's one for you...

Almost a month ago I wired several thousand dollars from my bank in the States to my bank here. Something I've done successfully many times in the past.

And guess what?

My fucking bank here insists they have not received the money, despite the fact my bank in the States shows a solid transaction.

My bank in the States is doing a trace on it, and I'm sure it'll all come out in the wash at the end. But Jesus Fucking Christ...why does this fucking country have to have so many fucking variations on what the rest of the civilized world has come to consider normal business?

SL

Thomaso276

11-19-06, 11:40

Amazing. It is all electronic, takes seconds and goes from one account directly to another but they can't find it. I wonder if it has to go through the National Central Bank first so the gov't can track it? Maybe something to do with keeping 30% of the money in the country for at least one year, except for real estate transactions.

Did your bank here give you any documentation so you can be credited? Can you share with us which bank it is? I wonder if they have a penalty system if you try and close the account before a year is up and finally how long did the pther transfers take?

Uruguay may be the way to go.

Good luck.

Felipe

11-19-06, 11:53

BadMan

11-19-06, 13:46

Are there any issues with entering back into Argentina with a large amount of dollars? I believe the law remains the same, you need to have less than $10,000 US, though you can allways TRY to get away with more. But to be on the safe side Don't bring in more than $9900.

Badboy

Capt Dave

11-19-06, 14:10

I believe the law remains the same, you need to have less than $10,000 US, though you can allways TRY to get away with more. But to be on the safe side Don't bring in more than $9900.

BadboyThe law says you must declare amounts over 10,000, not that you can't bring it.

I have never done it, so what happens next is for someone else to find out!

David

BadMan

11-19-06, 15:44

The truth is you CAN, bring in more than 10,000 US into any country. BUT then you have to declare it, meaning you have to have proof as to how you obtained this money, meaning you will need bank statements and in some cases, if you own your own business, you will need to have income tax declarations and things like this. At least THAT is the procedure in the US. Every country has it's own way of dealing with these things. I don't know how Argentina deals with this, but seeing as how their banking system is all fucked up I wouldn't want to find out. The governments have such strict guidelines and regulations because they are trying to curb money laundering and now terrorist funding and drug sales and things like this. It is understandable in this sense but now anyone carrying over 10K in cash they look at as a possible drug dealer. I would not advise bringing in more than 9900. But if you DO bring in more, please write about the experience on this forum. I would personaly want to know how it turned out.

Here is a link to a U. S customs site:

http://www.cbp.gov/xp/cgov/travel/vacation/kbyg/money.xml

I am sure this was a hypothetical, but either way I hope that helped.

Badboy

El Greco

11-19-06, 20:06

I remember reading in another forum about a Canadian lady who brought about 100k into Argentina, in order to buy property, through Paribas bank.

She got dollar cash from them with 1% commision only.

El Greco

Hefe

11-19-06, 23:39

I have been using the Citibank ATM right down the street from Alvelar Palace. They are giving a decent rate of 3.047, better than Metropolis of 2.97. Seem to be able to pull 2500 pesos at a time.

Thomaso276

11-20-06, 00:03

From my experience, International banks (HSBC, Citi, Boston, etc. Always give the OFFICIAL exchange rate through their ATMs. Cambio houses have no such requirements and I have seen differences of 3-4 pennies on the same day. Usually the ones near tourist places give a lousy exchange - Florida Street, near the Mariott for example.

Metroplois is horrible - 2.97 is BS.

StrayLight

11-20-06, 12:33

Almost a month ago I wired several thousand dollars from my bank in the States to my bank here...(and) my bank here insists they have not received the money, despite the fact my bank in the States shows a solid transaction.Of course, of course.

Got a call from the States today. The money is sitting in some bank headquarters holding tank here. Seems the account number isn't enough now. Now they need to know the address of the local branch before they can forward the funds to my account.

David Crosby once said, "If you want something for nothing, go jerk off." I guess this sort of thing is one of the prices we pay for $5.00 USD filets and $40 USD pussy.

SL

Hefe

11-26-06, 03:21

Polvo

11-26-06, 03:46

. Now anyone carrying over 10K in cash they look at as a possible drug dealer. I would not advise bringing in more than 9900.

BadboyBe careful taking more than $10K out of the US in cash via Miami International. Stay legal if you go out that way. They actually have a damn dog that is trained to "smell the money" and is used for some outgoing flights! (No BS - they have separate dogs for food, explosives, drugs and money. Just need one for the lawyers now!

Regards.

Polvo

Easy Go

11-26-06, 05:38

I just checked my online records and it seems Citibank charged me 1 percent for each withdrawal I did. They said I used a non-Citibank ATM, but I used Citibank ATMs every single time. I am definitely going to complain. Seems to be better to bring cash and change at a bank, but the only problem is you will be carrying so much cash all the time.Citibank USA charges a 1% foreign exchange fee for withdrawals from foreign Citibank ATMs. There are very few US banks where you can get foreign withdrawals without some kind of a fee.

Monger514

01-10-07, 18:06

Orang05

01-11-07, 02:23

For at least the last 3 years W-F has charged me US$5 for overseas ATM w / drawals of any amount (the only exception, for some reason, was Finland a couple of years ago) When I asked my local banker about this when I learned about this, I was told that this is standard in their system and they have gone to the flat fee in lieu of a % service charge which, she said, always raised questions. "People understand a flat $5 per transaction" was the gist of what she said. The moral, if you must use W-F cards in a foreign ATM is: Take out the max, to lower your "interest charge."

On the upside with W-F, when I was in Bs. As. About 2 months ago, I inadvertently left my card in the ATM (in Recoleta) I called the default collect international number (in the US) that W-F gave me before leaving. In 5 minutes they had closed the account, issued me a new card, and air expressed it to me. It arrived 2 days later. The charge? Zip. Go figure.

Monger514

01-11-07, 03:54

That's interesting. I called my local branch manager today, and apparently I previously had some kind of waiver on my account, without even realizing it. They are going to put the waiver back on the account, so I don't get hit with these fees.

David Ross

01-11-07, 08:42

I've been using E*Trade Banking. E*trade does not charge me any fees, including exchange fees For example, yesterday's ATM withdrawal the exchange rate was slightly over AR$3.08 per US$1. No fees no exchange rates. However, my brokerage retirement account ATM card and my banking ATM card limit withdrawals to US$1,000 and US$500 per day, respectively.

Fretta

01-11-07, 08:59

I use E*Trade banking too, and I really like that I have no fees. There's also an additional point that's important to make: it's a snap to transfer money between your E*Trade account and an account at another bank. I have three banking accounts with three different ATM cards. Why? Because I only carry around one on my person at a time and if one of them gets lost or stolen I'm not totally screwed. Additionally, if I need some extra cash I have another couple of cards as backups to get around withdrawal limits. I can zap money between my accounts with just a couple of clicks so I always have access to cash.

I've been using E*Trade Banking. E*trade does not charge me any fees, including exchange fees For example, yesterday's ATM withdrawal the exchange rate was slightly over AR$3.08 per US$1. No fees no exchange rates. However, my brokerage retirement account ATM card and my banking ATM card limit withdrawals to US$1,000 and US$500 per day, respectively.

Orang05

01-11-07, 17:16

It IS interesting! I called my local W-F rep and she told me that if I didn't have a "free checking account" I could have the fee waived also. No thanks. I like the E-Trade suggestion. I still think cash works best everywhere, but it is a concern given the Homeland Security dudes in ATL or MIA or the Homeboys Security dudes in EZE.

WorldTravel69

01-12-07, 00:16

Unfortunately they are only in Northern California. Maybe you can open an account online.

http://www.mechbank.com/mechbank/TMBwebsite.nsf/personal/index

TangoManiac

01-13-07, 15:45

This is my 7th visit. I use Wells Fargo. On previous visits I didn't see any transaction fee (at least, I don't remember seeing any) This time I'm getting hit with a 5.00 'non-network ATM fee' every time. Anybody know why?

I'm going to try and call them and see what the deal is.Just call Wells Fargo when you get back and tell them to waive the fees and reverse the charges. I had about 45 dollars worth of fees waived last time. I had a premium acct with them so that may be why. I have downgraded since so we will find out if they will rebate this time. The number is like 1800TOWELLS. Or something like that.

Southern Bubba

01-14-07, 15:39

This is my first attempt to post, so apologies if it doesn't work well.

We were in BsAs last May and I used my debit card from our Credit Union to get much better rates than the bank cards. Using the ATM at Banco Ciudad de BsAs on Callao near Juncal, I was getting 600 A$R for U$S 194.48 net, = to an exchange rate of 3.085 Pesos / dollar. I find the Credit Union debit card is best in Canada and Europe also.

Thanks to all Forum participants for lots of good info.

El Greco

01-16-07, 17:08

Easy Go

01-19-07, 07:17

Last October I was getting from HSBC's ATM's with the Bradesco sign only 500 pesos per transaction.

Considering that I have to pay about 20 pesos (4,40 euros) each time I do it I have to try something diferent this time.

Does anyone know of any other bank with a much higher limit? A year ago I was getting 1.500 p on the same machines.

Thanks.

El GrecoI'm not sure if the problem is with HSBC or the other bank. I suspect it is a problem in the authorzation process. I've never had the problem using Citibank ATMs.

ICantFukEnough

01-20-07, 00:59

Key bank offers prepaid credit card you can put up to 2000usd on them and any banelco ATM will allow withdrawal cost is about 2.00 usd per withdrawal and purchase of the card 3.50 I think it is so small an amout that.

I do not pay notice. I do two withdrawal of 3000 pesos at a banelco near the Amerian in the Microcentro near Corriente Ave but I have pulled 3000 pesos from ATM Bank of Boston on Santa Fe street in Recoleta never.

Had any problems and the can be blocked if you loose them you need a pin to acces it for cash withdrawal and you can use it as a credit card but I do not advise doing that if there is any fraud I think you might have a problem getting your money back so I only used them at ATM in banks that are opened and once I start withdrawal I will empty the card.

Count Chocula

01-29-07, 14:53

Here's a message I got from Citibank about their ATM fees in BA:

Thank you for your recent message. As a courtesy we have credited your account $12.19 for the three foreign transaction fees assessed to your account. Please note that prior to December 1st withdrawals made from any ATM, including Citibank, resulted in this charge. As of December 1, 2006 this has changed. Withdrawals made from a Citibank location will not be assessed the foreign transaction fee.

Trader

02-19-07, 15:38

I went to my usual Banelco today to withdraw funds from my US account and could only withdrawal $100. An inquiry to my bank revealed nothing wrong with my account and I encountered other frustrated foreigners with the same problem. So I called the Banelco number and the representative told me beginning last Friday there is a new limit on withdrawals using VISA or any card from the Plus Network. There is a maximum $100AR withdrawal per operation and a maximum of $300AR per day. This sucks! I do not have a bank account here and do not want to have one. Are MasterCard debit users having the same problem? I have been here for over 2 years and have always been able to withdraw funds from my checking account in the States. Can anybody offer some help with this?

Courcheval

02-19-07, 16:00

The government found out that the only way to save Argentina from becoming a massive sex tourist destination was to block money withdrawals. The good news for expats with an argentine account is that it will contribute to pussy burgers deflation.

Do you have any other joke in stock Trader?

BadMan

02-19-07, 16:04

That sounds fucked, I haven't had a problem with my Mastercards yet and I hope I don't, I have a 500 limits on both but I believe it is the same in any country. It sounds like the banks are trying to get a bigger share of fees, which is bullshit and rediculous. They recieve your money in dollars and dispence you Pesos at a fucked exchange rate minus their fee, and now it sounds like they want more fees. Try Moneygram, if you need to bring money into BA. The Argentine government has also put a limit on that as well, but it's 3000 US a month, but you can get it all in one day from one Bank and the transaction takes no more than 20-25 minutes and the cost is like $30-50 US.

I will go out today and see if this new law affected my card, but I tried it a few days ago and had no problems.

Bad

Courcheval

02-19-07, 16:22

No need to panic, this kind of important news would be published in Clarinx. If Trader is sincere, then it s only a limited problem with the Argentine bank or his bank. I can withdraw 1050 pesos per day and I already find the 15 pesos fix charge + 2.5% (4% in total) prohibitive. This kind of measure would simply kill tourism, an important source of income for Argentina since the devaluation.

Being frustrated because of a specific problem is one thing, spreading rumors on a new general bank failure is something different which can only embarass the poster.

Trader

02-19-07, 16:26

No need to panic, this kind of important news would be published in Clarinx. If Trader is sincere, then it s only a limited problem with the argentine bank or his bank. I can withdraw 1050 pesos per day and I already find the 15 pesos fix charge + 2.5% (4% in total) prohibitive. This kind of measure would simply kill tourism, an important source of income for Argentina since the devaluation.

Being frustrated because of a specific problem is one thing, spreading rumors on a new general bank failure is something different which can only embarass the poster.Dude. This is what the Banelco rep told me. I understand it is only for VISA / Plus Network cards. Call the Banelco rep yourself then. 4334-5466. If I misunderstood with my Spanish I will write a public apology. I am NOT trying to spread a goddamn rumor!

Member #3314

02-19-07, 16:54

A few friends had problems this weekend getting peso's. It kept on saying please choose a smaller amount. We thought it was that the ATM's were out of money over the weekend.

I went to the ATM by McDonalds in Recoleta on Saturday and took out 990 peso's no problem. Four hours later my friend got hit with the please choose smaller amount at the same ATM.

Today I went there and I got hit with please choose a smaller amount. I walked down to the HSBC on Callao and it did the same thing. I called HSBC and asked them, they knew nothing about a limit and told me I could take out almost 3000 peso's per day.

Went over by Exedra and hit an ATM and it let me take 990 with no problem a few hours ago.

I am betting the ATM was low on cash over the weekend.

The ATMs are still showing amounts as high as 700 pesos as a standard amount to withdraw. If 100 pesos was the limit I doubt it would be displaying that.

Also if you use HSBC you can just walk in during business hours and get money from the teller.

Courcheval

02-19-07, 16:54

My apologises Trader. I just got a portenio friend to call for me to be sure there wouldnt be any problem of misunderstanding. It sounded so gross that I couldnt believe it.

So I confirm your words. People withdrawing money from a foreign bank using the VISA Banelco system can't withdraw more than 100 pesos a pop and 300 pesos a day. This basicly means that I would have to pay 15%+2.5%=17.5% each time I withdraw money from an ATM here.

No reason given and no Estimated Stupidity Fixing Time either.

Since VISA is the most extended global card system, this means the end of the tourist industry. They will certainly find out the problem sooner or later, but meanwhile, lots of damage will have been done on a clerky quick decision.

Don't cry for me Argentina. Vaya con dios =)

Trader

02-19-07, 17:04

Apology accepted. Maybe we can share a beer at Hook sometime. Also, my spanish isn't totally fluent yet and it is good to know I understood it right. I have ordered a MasterCard from my bank in the States so hopefully it will solve the problem, but I cannot help but think MasterCard won't do the same thing. Member #3314, I might try going into the bank to withdraw next time. Maybe the limits don't apply when you go inside. Who knows!

Member #3314

02-19-07, 17:06

If this is the case go to the ATM by Exedra on Carlos Pelligrini. It will let you choose what network to use. It gave me about 6 choices.

I used cirrius (sp? And got cash a few hours ago. By card is a visa by the way.

Geo Eye

02-19-07, 17:33

Man that is fucked up, why is it Argentiana always continues to do thing to agrrevate its tourists. I have never met such close minded ignorant people like Argentina in my life. If it wasn't for the the cheap sluts here, I would have no reason to come.

Punter 127

02-19-07, 17:58

I also had trouble on Saturday with a Visa / Debit card when I tried to get 700 pesos; the same ATM let me have the 700 pesos with my MasterCard / Debit card, so it was not low on money. Sunday I tried my Visa / Debit card at a different bank which gave the 6 choices (I used cirrius) and it let me have 300 pesos in one pop. I think the problem is with one local bank, not Visa.

BTW; the exchange rate was 3.066 and no fees.

Courcheval

02-19-07, 18:21

I just checked a french travelling forum and a guy got the exact same problem with a mastercard card. Not more than 100 pesos withdrawal allowed. Here is the original text for the few francophiles around:

"Bonjour, je suis en ce moment à Buenos Aires.

J'ai une carte de retrait master card et je ne peux pas faire de retrait superieur à 100 pesos.

Est-ce quelqu'un a eu ce problème? Et avez-vous une solution?

Merci par avance.

Eric"

Looks like the limit got implemented today. Any person who actually tried to withdraw money from an ATM TODAY is welcome to post his comments.

El Perro

02-19-07, 18:36

I agree with Bad that this looks like a nasty little power play by the local banking cocksuckers. I'll try my mastercard debit card tomorrow. The beancounters hereabouts have hit upon an idea to add a few centavos to the coffers.

Punter 127

02-19-07, 19:31

I just used my Visa / Debit card at "Banco Ciudad" at Esmeralda 660, for $900 peso withdrawal 30 minutes ago, no problem.

The ATM I had trouble with Saturday was "Banelco" at Esmeralda 736.

Nemesis

02-19-07, 20:19

I had the same problem today with one of my debit cards. I think it applies to only one network though since I was able to withdraw the usual maximum of $1000.00 with the same card, from a different bank, without any problems.

I hope it doesn't spread to other networks when the others now become overloaded with frustrated tourists. $300 ARS per day is bullshit.

Big Bob 7

02-19-07, 23:42

You all have been scaring the crap out of me. I need to find out if this is only isolated to the Banelco network or what. I used to also be able to get money out of the ATM's at those French banks as well (can't remember the name but there is one on the corner of Colonel Diaz and Las Heras in Palermo and also another that I know about in Puerto Madero). Has anyone tried to use a Visa card at any of those banks lately. I used to be able to get US dollars or Pesos from them and also somehow they had a higher withdrawal limit than 500 pesos. I have been using my credit card to buy groceries online. Etc. And running through a deposit refund on an old apartment so I haven't tried to use a machine in a long time.

El Perro

02-19-07, 23:52

Right, it is alarming. Let's hope it's an isolated outbreak and not an epidemic. Unfortunately, when you think about it, it is the kind of shitty thing some squirrely assholes would come up with. I hope my cynical view of human nature proves to be in error this time.

Stowe

02-20-07, 00:42

I just used my Visa / Debit card at "Banco Ciudad" at Esmeralda 660, for $900 peso withdrawal 30 minutes ago, no problem.

The ATM I had trouble with Saturday was "Banelco" at Esmeralda 736.Hey Pibe,

Are you using my apartment again? I should be charging you a fee. I gather you won't be there in April?

Called our special chica yet?

Suerte.

Stowe

BadMan

02-20-07, 01:16

I was a little worried about this whole 100 dollars a day thing, so I went out and tried my Mastercard at the local LINK ATM. I had no problem withdrawing 1500 AR (which is my daily limit in any country converted into pesos) I think the problem is probably with Visa and Banelco, and the only thing I can say about this is FUCK BANELCO, lousy fucks. The only advice I can give is try getting a Mastercard from your bank back in the States. That or go ahead and use Moneygram, 3000 US limit a month, that, plus what ever your daily limit is at the ATM and what you brought with you should work for the average tourist here for 2-3 weeks. I hope this is only temporary, since the thought of only being able to withdraw 300 pesos a day is BS, You can barely buy pussy for that amount, let alone have a good lunch and dinner. Bullshit man, this will severely affect tourism and rightly so. Fucking Argie beancounting bastards. I hope this doesn't affect LINK ATM's or Matercards in the future.

Big Friendly

02-20-07, 01:57

I was able to withdraw 1500 pesos at a time from Banco Ciudad up until Jan. 2. After that I was only able to withdraw 500 pesos at a time. I use a Canadian Bank debit card, not a Visa or MC. I called my Bank Manager and he said it was not the Canadian Bank. It appears to be an Argentine thing. I have been using the 500 peso limit and just using it 3 or 4 times. I guess they just want the transaction fee. An American friend of mine tried his Visa at the Airport ATM and it was the same 500 peso limit.

Alan23

02-20-07, 04:11

At 00:18 I did a normal withdrawal of 1050p with a Cirrus / Visa Plus ATM card. This is the "new normal" after the "link system" starting limiting me from 1250p back around the first of the year.

My US bank said this is not them, but the local Argentine banks at work. I'm charged a percentage fee versus a flat transaction fee, so it is somewhat a mute point for me - just the inconvenience of another withdrawal or two per month.

Andres

02-20-07, 10:28

This kind of overly restrictive measures (either coming from Banco Central, a given bank, Banelco, or VISA / MC) appears fairly often, but as fast as they are enacted they are taken away or modified.

As many of you said, this measure with severely affect tourism, so it couldn't last very long after antique shop owners, restaurant managers and such start complaining to the authorities that their customers don't have access to enough cash.

I will also add that many Argentinos living abroad send money back home through additional ATM cards, so it will cause a headache for many locals too.

Andres

El Perro

02-20-07, 12:08

Withdrew my usual 600p from Banco Rio today with a Mastercard debit card. No problem. But then on the way back home I bought a bottle of Agua Blanca at a pharmacy. Upon inspection at home, I noticed it is nearly EMPTY. When will I learn to check things here before leaving the store! You gotta believe the pharmacists know what a full bottle of Agua Blanca feels like. Increible.

Aqualung

02-20-07, 12:49

I just took out $AR 500 from a Banco Provincia Link ATM machine with a Chase Morgan Visa Plus debit card. I don't know if it would have given me more had I needed.

The first bank I had limit problems with was HSBC. I have used the ATM machine of the Paraguay bank (almost corner of Maipu) for years and had no problems but lately it has dropped the limit to $500. When I need more I go to the other bank on Paraguay street across the road towards Esmeralda. There I have withdrawen $1000 at a time. I never tried for more so I don't know the limit.

The lame excuse for dropping the limits for withdrawl is to avoid the "express kidnappings". The very small limits on extractions makes kidnapping a tourist and driving him around ATM machines a very unattractive option for crooks. Therefore making BS As safer for tourists and even more attractive. That is as long as they don't want to buy even a mate to take home as a souvenier to Aunt Mattilda!

Banks have screwed Argentina before and they'll do it again

Gandolf50

02-20-07, 13:44

I don't seem to be having any problems. I always use Banco Frances because they are close to my house and they don't charge a fee. I took out 1000 pesos again last night, and I do this two or three times a week. I think some one is yanking your chain!

Trader

02-20-07, 14:33

Sorry to be the one to post this crappy news yesterday, but it does seem to be limited to to those using VISA / Banelco. Following some of your suggestions, I went to a Banco Ciudad today (which uses LINK) and was able to withdraw $500AR if I choose the Cirrus network. This problem is showing up on different expat forums now, too. So nobody is yanking our chain, so to speak.

In the spirit of only being able to pull out $100AR, I went to Riobamba 392 and fucked a fat chick for $50. Not a good future guys, I can tell ya that!

Hunt99

02-20-07, 14:48

I went to Riobamba 392 and fucked a fat chick for $50. Not a good future guys, I can tell ya that!I'm sure there are quite a few posters on this board who will be PMing you for her contact info, Trader. ;)

Lexton

02-20-07, 18:46

I hit this problem Monday 2/19 at Banco Rio. Only $ar100 per transaction using Visa Plus and Banelco. I tried today at both Banco Rio and Banco Patagonia, also using Banelco and the Visa Plus card.

The manager at Banco Patagonia called some network (Visa was the number he asked a secretary for) and they told him that starting Monday the limit for Visa Plus is $ar100/ transaction, $ar300/ day. The manager at Banco Patagonia was real friendly when I sort of popped in his office asking about it. It was news to him.

I hope this is limited to Visa Plus and / or Banelco. The bank manager said Visa Plus, and did not mention Banelco. But Trader gives me hope if I can locate a Link ATM. I will try looking for other networks and try my Mastercard. There are not many options for networks here in the boondocks, unfortunately. This is how fast disaster can strike in trying to deal with these thieving banks.

I told the bank manager this was an economic disaster, but he didn't seem optimistic that there would be a fix. His remark was that it was a new policy for security, and the network didn't view it as a problem.

I have also been hitting the $ar500/ transaction limit at Banelco ATM's.

AllIWantIsLove

02-20-07, 19:47

I just about squeezed all of the info into the title. Except that the machine gave me a choice of networks and I chose Visa Plus.

Bob

HombreDeJuguetes

02-21-07, 00:55

[QUOTE=Lexton]I hit this problem Monday 2/19 at Banco Rio. Only $ar100 per transaction using Visa Plus and Banelco. I tried today at both Banco Rio and Banco Patagonia, also using Banelco and the Visa Plus card.

I can confirm that this shit is going on in other countries, also. In Sao Paulo, ran into a 200 real ($100) limit and also the ATM's are all closed after 10 PM in the downtown area. Word is that it is a security issue, saving us from getting ripped off. Now who would take advantage of a drunk gringo at 2AM just trying to get some money for his chica? Heartless.

Moore

02-21-07, 01:02

I haven't read thru this thread but I suppose people are just overreacting to ATM's being low/empty in Argentina from time to time. I've encountered it several times late on Friday and Saturday nights with my Visa Plus card - tried 4 or 5 machines and they were all cashed out. That's part of the reason I always carry 1 or 2 US hunskie bills in my wallet while in Argentina.

I can't help reminisce about one night way back in the good old depth-of-the-recession days of mid-2002 when I was in Mar del Plata and found all cash machines empty about 2am. I walked in to Madahos, selected my first chica and gave the cashier a US$100 which was like a bar of gold at the time. After paying the fee I still had over 300 pesos left for one hell of a night, make that weekend.

Punter 127

02-21-07, 04:47

I haven't read thru this thread but I suppose people are just overreacting to ATM's being low / empty in Argentina from time to time.
You need to RTFF, it's not a case of ATM's being out of money.

Courcheval

02-21-07, 13:34

I have a visa card and could take 1050 pesos off the BNP office in Cordoba as usual.

El Greco

02-21-07, 14:00

I received yesterday noon 1.050p from an ATM of "Banco de la Nacion" with the "Link" sign.

I used Visa Plus system.

Polvo

02-21-07, 15:54

. The manager at Banco Patagonia was real friendly when I sort of popped in his office asking about it. His remark was that it was a new policy for security, and the network didn't view it as a problem.

I have also been hitting the $ar500/ transaction limit at Banelco ATM's.Is it really a "security" move or are there currency pressures coming to bear in the economy? Where are Hunt and the other market experts?

Polvo

Big Bob 7

02-21-07, 16:33

I went to BNP and chose the CIRRUS option using my VISA card today. Not only did it let me withdraw money it allowed me to take out 1000 pesos. Life is good.

Hunt99

02-21-07, 17:22

Is it really a "security" move or are there currency pressures coming to bear in the economy? Where are Hunt and the other market experts?

PolvoMy opinion is worth exactly what you're paying for it, Polvo, but along market lines I would recommend not holding significant amounts of cash in the form of Argentine pesos. Keep your money in Dollars, Euro, Pounds Sterling, or other stable currencies.

Argentina has a long history of having its economy and currency go straight to hell about every 10 years. We're now six years since the last meltdown. You do the math. ;)

Aqualung

02-21-07, 22:20

I got $ar 1000 at the Link at the YPF service station on Autopista this morning using Visa Plus - It seems that the virus is contained to a few banks - HSBC are the worse fuckers!

Hound

02-22-07, 15:12

A few other forums are very "alive" with this topic. For the time being it seems that the way to go is with LINK. Locations near you can be found here:

http://www.redlink.com.ar/Cajeros/index.htm

Jbrlovers

02-22-07, 16:38

I used the "Link" cash machine located in the Ricoletta Hard Rock area. Actually it's the first time I've used a cash machine here so I had my gf assist me thinking I may have a problem with the Spanish. But wee were supprized to find that it was also in English. I used my Mastercard debit card and I started out requesting 1500p which was rejected so I lowered to 1000p which was also rejected. I then tried 600p which was excepted and paid. I have 2 card with me (something I highly recommend) from this same account so later this week I am going to try both cards at the same time (one after the other) and see if it will payout on both cards. I checked my bank account on-line the next day and found that the exchange rate given was 3.096 which is better then anything I've seen before. And there were no charges for the trasaction. So for me at least this is a great situation. I just hope it stays that way.

A few other forums are very "alive" with this topic. For the time being it seems that the way to go is with LINK. Locations near you can be found here:

http://www.redlink.com.ar/Cajeros/index.htm

BadMan

02-22-07, 17:11

there were no charges for the trasaction. So for me at least this is a great situation. I just hope it stays that way.Sounds great, just remember some cards charge you the transaction fees in bulk at the end of the month. That has happened to me in the past.

Bad

Rock Harders

02-23-07, 09:46

Mongers,

Today while in the Disco supermarket (a chain for those who do not live in Buenos Aires) I noticed that their "Banco Ciudad" ATM machine is a "Link" machine, meaning that it is not affected by the new Banelco / VISA PLUS restrictions. All Disco supermarkets have this ATM machine, and there are at least 10 Disco locations that I know of within the Recoleta area.

Suerte,

Dirk Diggler

El Perro

02-23-07, 11:31

Check the front page of The Buenos Aires Herald today for more info about the ATM withdrawal issue.

Exon123

02-23-07, 14:24

ATM glitch restricts tourists' withdrawals.

According to numerous reports received by the Herald, tourists, mainly of British origin, were only allowed to withdraw 100 pesos at a time from any automated teller machine, or ATM.

With tourists charged a considerable fee at home for every withdrawal abroad, the phone calls received at the Herald were less than happy.

Sources at Banelco, Argentina's electronic funds transfer company, told the Herald that the glitch arose because a ruling by Plus had been misinterpreted by local officials and that this had resulted in the capped withdrawals yesterday.

"The glitch is being worked on and the system should allow tourists to make up to three withdrawals a day of up to 300 pesos each," the source said.

A similar confirmation was received by the Visa card company, whose spokeswoman, Carolina Samudio, said that the system will return to normal by today.

From the Buenos Aires Herald.

Exon

Fly99

02-27-07, 22:30

El Greco

03-03-07, 03:25

Yesterday ATM at banco "Ciudad" refused to give me 1.050 and 990 pesos that I asked and kept telling me for a lower amount so I left.

A few minutes later ATM of "Paribas" bank gave me my first choice of 1.050 p.

They both use the "Link" system and I used Visa Plus on both.

Therefore Banco de la Nation and Paribas are, so far, the winners.

Big Bob 7

03-03-07, 03:32

Check out your bank charges before you start to celebrate too much.

El Greco

03-03-07, 19:42

Check out your bank charges before you start to celebrate too much.They have been the same. Four to five euros / transaction depending on my bank that I am withdrawing from. Already checked it.

Don't worry I am not a newbie on that.

Jbrlovers

03-03-07, 20:02

I've made 7 withdraws in the past 12 days. And in every case I was limited to 920p. But that is only because my bank back home only allows me a $300 per day withdraw (strange that they limit how much of your own money you can have) But this is an easy problem to get around if you plan your trip ahead as I did. I requested a second debit card with a different # in my nick name. And when I go to the ATMs I use them both. So I get 920p*2=1840p. This also protects you if you lose your card some how. Or think someone else is some how using it. You can shut down one card and keep the other active. Or you could always give one to your best girlfriend (right!

The first time I used the ATM (Link) was in the Hard Rock Ricoletta area but it's been out of service forever now. Most of the others were from Western Union. All machines gave me the same rate 307=1$. And I have yet to see any charges from them or my home bank for the services and I have checked it daily. The withdraw is posted but never any charges. The big problem I have had is getting the bank door open to access the ATM machine. In most cases scanning my debit card will not unlock the door. But if I wait until someone exits and grab the open door the machine inside accepts my card with no problem. Go figure, could this be another Argentina fuck-up?

They have been the same. Four to five euros / transaction depending on my bank that I am withdrawing from. Already checked it.

Don't worry I am not a newbie on that.

DonRoberto

03-05-07, 10:52

At the Banelco today, I was refused 400 pesos on a Visa card, but allowed 200. This concerns me a great deal, and I have decided to stay downmarket in my whoring activities. Was planning to do some upscale visits to 1072 Larrea, etc. but probably will stick to 40 p places.

I was down in EZE last month and could only withdraw up to 500 pesos a day with a Canadian bank account. Some days I could only take 300 pesos. That totally sucked! It was like only USD $100-160 a day. Between my apartment and chicas, I was spending more than that a day! Considering I was paying $5 for each transaction it was like paying up to 5% to get money. Next time I'm taking good old cash.

-Fly

Big Bob 7

03-05-07, 16:29

Find a Link machine somewhere and spend, spend, spend.

Chica Seeker

03-07-07, 16:20

I found a few ATM's in the Microcenter were out of cash this afternoon. I was told by a local businessman that a 24 hour strike is in progress. I don't know whether this is true or not but I was finally able to withdraw a maximum 300p from the ATM at Banco Boston on Cordoba near Florida about 2 pm.

Anyone else had a similar experience today?

Thomaso276

03-09-07, 10:56

Probably related to the armored car robbery the other day with lots of gunplay and injuries; then guards from companies went on strike wanting more security (these are the guys with guns - what more sucurity could they want)

Anyhow durng the strike Police were delivering money so I guess the system got all screwed up.

WorldTravel69

03-09-07, 14:12

My MasterCard at Citibank works find. I drew 1000p on a few ocassions. I could have gone up to 2000p.

I went to my usual Banelco today to withdraw funds from my US account and could only withdrawal $100. An inquiry to my bank revealed nothing wrong with my account and I encountered other frustrated foreigners with the same problem. So I called the Banelco number and the representative told me beginning last Friday there is a new limit on withdrawals using VISA or any card from the Plus Network. There is a maximum $100AR withdrawal per operation and a maximum of $300AR per day. This sucks! I do not have a bank account here and do not want to have one. Are MasterCard debit users having the same problem? I have been here for over 2 years and have always been able to withdraw funds from my checking account in the States. Can anybody offer some help with this?

Alan23

03-09-07, 17:05

The BANCO NACION is providing 1050p as of 14:00 today.

Orang05

03-10-07, 01:19

Ditto this bank: 1050.

Stowe

03-10-07, 13:43

When you guys post these banks it would be helpful to some members if you would also post the addresses.

Suerte.

Stowe

WorldTravel69

03-10-07, 22:30

The one I use is on Florida and Cordoba. Across from the Galerias Pacifico. There is another on Corrienties and Suipacha, or one block either way.

When you guys post these banks it would be helpful to some members if you would also post the addresses.

Suerte.

Stowe

Member #3314

03-11-07, 03:31

If you start at Exedra and walk towards New Orleans on Cordoba on the same side of the street, you will see about 6 LINK atms.

My favorite was the ATM at carlos pelligrini and Uruguay.

Pick your network and have at it.

The link atms picking your network are the way to go.

Always travel with a visa and a mastercard debit.

El Aleman

03-15-07, 21:42

I withdrew cash today at Banco de la Nación, with my German EC - card, Link, Cirrus. First the machine refused to give A$R 3500, then without problems paid A$R 4000 in 2 transactions of 2000 each. The daily limit on these cards back home is € 1000, so I pretty much got exactly that. This is exactly the same behaviour as in January.

Big Bob 7

03-16-07, 00:44

I have a Visa and before this new fuck the tourist policy which changed the withdrawal limit I had been able to locate 4 ATMs which would charge me my bank's $1.69 foreign transaction fee but would not charge the additional $5USD transaction fee for using a foriegn ATM. I don't know why these particular machines weren't charging it before and the rest were but now THEY ARE ALL CHARGING IT and it sucks. I want to know if anyone else has some ideas about different options for getting money down here as I'm thinking that long-term this is too much money to just throw away for nothing. I heard that the Moneygram fee for a $5000 transaction was $40. Does anyone know if that is a percentage or a set amount? If it is a set amount is it adjusted for lesser amounts or is it always $40?

Jimmy Boy 99

03-16-07, 01:37

I went to the Citibank on Corrientes and Suipacha. It wouldn't give me more than Pesos 300 at a time, but it let me do three transactions for a total of Pesos 900. Fortunately, I have a First Republic Bank ATM card which reimburses ATM fees so I didn't care how many transactions it took to get the money I wanted.

BadMan

03-16-07, 02:03

Hey BB7,

I have some previous knowledge in this. First of all and most importantly, you cannot send yourself $5000 US through moneygram in Argentina. Do not take my word for it, go to your local Banco Itau and ask them yourself. According to Argentine law, you can only send 3000 per person, per month. If you have an account at the participating bank you can send more but as a foreigner, you have a $3000 US limit per month. I know this because when I had to send myself money for some transactions I ran into this problem. Obviously you can see a way around this. But anyways check it out for yourself.

As far as the tariffs go, the fee is based on the amount you send, so YES, if you send less money the fee will be less. But there is a minimum fee of like $5-10 US. I personally use Moneygram regularly. Try using moneygram AND the ATM.

Hope this helps,

Bad

Hunt99

03-16-07, 11:06

I understand that a number of institutions, including PNC Bank and ETrade, do not charge any fee whatsoever for ATM withdrawals.

Daddy Rulz

03-16-07, 11:45

I use ATMs from both Chase and Wachovia, neither has a U$S5.00 international charge or have not in the past only the standard U$S1.50 for none home bank ATM withdrawl. My friend uses be of A and they do. Your saying yours has changed, I'll post once I figure out if mine has as well.

Etrade is gratis as the original value monger, our dear departed DH, uses them and has sung their virtues to me on a variety of occasions.

AllIWantIsLove

03-16-07, 12:11

Easy Go

03-16-07, 14:04

That foreign currency transaction fee has pissed me off for a long time. I will be looking into the ETrade and PNC cards.

I noticed this on another board. I haven't looked into it yet but if it is what I hope it is I can't wait to participate.

http://www.ccfsettlement.com/

BobIt's another one of those class-actions suits where the lawyers get 50 million and each member of the suit gets 50 cents. I got the settlement check for one of these last year and the check was literally for $0.02. I already got the paperwork on this one and tossed it in the trash.

Hunt99

03-16-07, 14:30

It's another one of those class-actions suits where the lawyers get 50 million and each member of the suit gets 50 cents. I got the settlement check for one of these last year and the check was literally for $0.02. I already got the paperwork on this one and tossed it in the trash.According to the stipulation of settlement in that case, the attorney fees are 27.5% of the settlement total. I think that's absolutely fair. Yes, it sucks that each individual plaintiff doesn't get a big check, but that's because the actual loss sustained by each plaintiff was so small itself. So don't blame the lawyers for earning a fair contingent fee - if the case had been lost they would have earned zero.

http://www.ccfsettlement.com/documents/mdl_1409_settlement_agreement_1384141.pdf

WorldTravel69

03-16-07, 17:49

I know I posted this somewhere on this site.

Citibank does NOT charge fees to its Citibank ATMs Master Card customers.

I just checked my statement online and their are no charges.

My buddy has Wells Fargo and has NO fees on his VISA card.

Stowe

03-17-07, 00:21

I understand that a number of institutions, including PNC Bank and ETrade, do not charge any fee whatsoever for ATM withdrawals.Etrade does not charge a fee for using ATM's in BA but their card uses the Visa Plus network only so that could be a problem from what others have posted.

Or will it only be a problem with Visa Plus at Banelco's.

This is why I have several ATM cards from different companies drawing on different accounts.

Suerte.

Stowe

Sportsman

03-17-07, 01:41

Alan23

03-17-07, 02:14

I believe the ATM card from my credit union has always charged 1% foreign exchange fee plus $1.00 fee for using ATM other than their own. But the 1% exchange fee was never shown as a separate item until about a year ago when a law was passed that the bank statement must show the fee separately. Same thing happened to my credit cards.

On my last trip two weeks ago, the charges were $96.95 for 300 pesos at the exchange rate 3.09. Adding the 1% foreign exchange fee of $0.97 becomes $97.92 for 300 pesos, which makes the final exchange rate to be 3.06. How does 3.06 exchange rate compares to others who claim their cards to have no foreign exchange fee?Sportsman,

During your last visit, I made 2 withdrawals: 3.096 and 3.102. This was the total transaction cost, supposedly including the same 1% fee you reference above - this is also using a credit union issued card. With these very favorable exchange rates, I think I'm actually only being charged .5% for the transaction fee.

Hope this helps,

Alan

Big Nose

03-27-07, 17:20

Someone told me that ATMs outside of the US only take 4 digits.

When I was in Bs As last November my debit card with 6 digits did not work, and I never understood why. My backup card that has 4 digits worked fine, but it made me a little nervous that I had to use my ace in the hole.

Will be back in town late April early May.

Anyone know if this 4 digit rule is true?

Thanks

Hunt99

03-27-07, 17:22

Tip: Always bring cash. You never know if your wallet is going to be stolen, your cards fail to work, or if the ATM workers go on strike. I wouldn't bring everything in cash, but perhaps half, including all my intended money to be spent on chicas.

Salving123

03-27-07, 19:55

6 digit ATM pin does not work in many other countries also.

But - did you try entering just the first four digits of the 6 digit PIN? That works some of the times.

BayBoy

03-28-07, 14:41

I have a 5 digit ATM from Wells Fargo Bank and it has always worked for me in South America, but I have to go to the right banks (usually American) with the Plus sign. On this trip I've been going to the Citibank on Florida across from the Galleria mall, BUT the Banelco is the one that words for me, right next store.

I can only get 300 pesos at one time, but unlimited times. So go figure.

Big Nose

03-28-07, 21:34

I found this link on the web that basically says to use 4 digits.

http://wikitravel.org/en/Money

Artisttyp

05-02-07, 23:21

Has anyone had trouble cashing $50 dollar bills? I wouldnt dream of bringing $100's. I'm asking because someplace like el salvador will not accept demoninations higher than $20. Two different countries I know but both a little screwy when it comes to money.

Also last time I remember having to bring my passport to exchange cash. Is this still the norm or just at banks?

AllIWantIsLove

05-02-07, 23:42

I've paid chicas with 50s and even 100s and they have never objected.

Bob

Artisttyp

05-03-07, 00:45

What about banks or exchange houses?

Stowe

05-03-07, 00:59

Not sure why you are afraid of bringing in $100 bills but banks and exchanges will accept $100 bills and $50 bills.

Suerte.

Stowe

BadMan

05-03-07, 07:58

YES,

The banks and exchange houses in the center usually ask for your " documento " so bring your passport. I know what you mean about the exchange problems. I was in Ecuador about 2 years ago and they were having all kinds of problems with fake notes and you simply could not change 100 dollar bills at most places.

That problem isn't an issue here in BA, and also remember, you can exchange money at just about any supermarket, restaurant or shopping mall. Very few places have refused to accept my money:D.

Good luck,

Bad

Rock Harders

05-03-07, 10:11

Mongers-

My place of business will exchange any denomination of just about any hard currency no questions asked, 24 hours per day. We exchange dollars on a daily basis and frequently exchange euros, pounds sterling, and less frequently Reais, Chilean Pesos, and Uruguayan Pesos. My guess is that any bar, restaurant, or other hospitality industry site will accept at a minimum dollars at 3-1 rate and possibly euros at 4-1. When Argentinean pesos are the local currency in circulation, business owners certainly do mind stockpiling some "real" money at an advantageous rate for that next crisis that will happen within the next year or two.

Suerte,

Dirk Diggler

Seaman

05-03-07, 14:26

Changing $100 bills is not a problem at all, even without a passport or DNI.

I used a cambio place at one of the side malls at Florida street. There is a "Metropolis" exchange place which gives you like 3.00 (or even 2.98) to 1, while outside that same place there are a few touts trying to get you to another cambio which is located in the same block in the side mall. When Metropolis was giving 3.02:1 I got there 3.10:1. At Metropolis they want your passport, at the other place they do not ask for it. However at the other place you have to negotiate the exchange rate. What worked best for me was telling the tout outside Metropolis what rate I wanted to get, and he would normally call the place and come back with a rate very close to the rate I wanted.

Just make sure the moment you get your money at those places (also the official banks etc) that you check the amount and the bills the moment you get them. Do not walk away from the counter before you have checked the bills!

Artisttyp

05-03-07, 15:20

When I was in lima I recieved my first fake bill anywhere. The locals couldnt even tell by looking at it but after awhile of touching it etc. They were able to tell. The only way I was able to tell it was fake was by smelling it. The fake smelled like regular paper. I guess the same goes for argentina?

I did rtff where someone explained the difference between a fake and a real bill but it would be much better explained in person. The member wrote a really good report but I'd have to see what he is talking about.

Young50

05-08-07, 11:47

Just learned this from the security guy at my see you.

Each bank sets its own withdraw limit. By default, it is a max per transaction.

But if you ask the bank they can set it up as a max per day. The bank usually will not tell you. You have to specifically ask the bank. The whole idea is that to prevent scams, if they get repeated $200/$300 withdrawals from the same ATM one after the other, they may block the card.

Having said that, each bank may set their own policy for their own ATMs. Sometimes withdrawals are limited by security reasons; sometimes simply because it is a heavily used ATM, and they do not want to run out of cash nor service the ATM more than once per day. However, there may be another reason-- profit! They'd like to have as many withdraw fees from you as possible! Fees are the surest way the bank improves the bottom line, because, most times, it is just cream on top. If they run out of cash they cannot collect fees.

Again, according to this guy, if the network / bank notices that there is a large number of fake transactions in a particular ATM, they will limit the amount, not matter what, or they may even close the ATM.

HTH,

Y50

King of Sluts

05-13-07, 00:21

How do you get the best rates, is it cheaper to exchange in cash, or better to use ATM, how do I save the most dollars. I hope the currency rate is good, looking for atleast 3-1 to pay those little heinas.

KOS

Artisttyp

05-13-07, 00:47

I'd say bring dollars in 20's and 10's for the chicas then a little extra for cabs misc. etc. Use your credit card for the rest.* Visa would be the wisest choice.

I found ATMS to be a hit or miss and travelers checks are a real hassle if you can get them cashed at all.

Tiger

05-13-07, 11:41

I must of tried at least 10 different banks and their max out put was 300p. Banks are not stupid they know what they are doing. Most banks here are North American banks and the travelling public from the USA have to pay at least 2usd for every transaction. So do the math then multiply by 100k and you will see why they lowered the max out put on pesos.

After some detective work I found a bank that will put out 500p on ALEN as soon as you exit from subte be ALEM. Just before you reach Lavalle.

Good luck.

Tiger

Teddybear

05-13-07, 12:25

The ATM on the corner of Pellegrini and Paraguay lets me withdraw 1000 pesos every time (choosing Cirrus network) I have not tried the other networks available in this bank.

I have also found that choosing Cirrus gives me a better exchange rate than Banelco.

Tiger

05-13-07, 13:02

Punter 127

05-13-07, 14:17

I used my Visa / Debit card at "Banco Ciudad" (Cirrus) at Esmeralda 660, for a $1000 peso withdrawal yesterday.

Jackson

05-13-07, 16:24

Greetings everyone,

Let me bring some clarity to this subject.

First, many of you will be surprised to find when you examine your bank statements that you will have been charged more in the area of $5.00 per ATM withdrawal in BA, not the $2.00 charge you expect when using an ATM in the USA.

Second, this is suspected to be the primary motivation for Banelco having reduced the amount you can withdraw to $300 pesos at any one time. A $5.00 USD charge on a $97.00 USD withdrawal nets them more than 5%.

Third, the "secret" to avoiding this problem is relatively simple: Don't use the Banelco system. Yes, I know that 80% of the ATM's in BA are on the Banelco system, so you need to be a little dilligent and look for the ATM's with logos for other systems.

I personally use the ATM's on the LINK system, which allows me to withdraw $1,000 pesos at a time with no problems.

Thanks,

Jackson

Artisttyp

05-13-07, 17:18

Thank you for clearing it up.

Chase bank charges me an average of $7/8 for every $200 u$ dollars that I take out anywhere in the world.

Chase takes a cut and so does whatever logo that appears on your debit card mastercard / visa. I've never really calculated what a local bank would take on top of it.

All in all its just another way to make life difficult for people. Who would have thought that taking out your own money from a bank would be big business.

Its a shame because if I had more access to my money I'd use alot more of it when I'm away.

Bacchus9

05-13-07, 18:41

Bring your Citibank ATM card and use it at a Citibank in BsAs. No fee for withdrawals and 3,000 pesos per day. Exchange rates vary with the dollar but in the past month have received 3.08 to 3.10 pesos per dollar.

Make sure you're using the Citibank ATM and not the Banelco ATM machine which can also be in the same room and may give the impression of a Citibank ATM. Use the blue ATM booths built into the wall.

Punter 127

05-13-07, 20:19

Easy Go

05-13-07, 22:08

You have to differentiate between transaction fees (based on a flat cost per transaction) and foreign currency exchange fees (buried in the rate) Citibank appears to charge neither when using a Citibank ATM card at a Citibank ATM. USAA (for example) doesn't charge a transaction fee but charges a 1% foreign currency exchange fee on the amount withdrawn. Other banks might charge both.

I can't see why anybody is paying either transaction or exchange fees in BA. Just open an on-line Citibank savings account in the USA (no fee with $500 minimum balance) make electronic transfers into it as needed from your regular bank, and withdraw pesos in BA without a fee. My USAA card is my backup card that I only use if I have a problem with Citibank or need to use a non-Citibank ATM for some reason.

Punter 127

05-14-07, 06:39

On May 5th at 14:31 hours I made a $980.00 (peso) withdrawal from a LINK ATM, my account shows $318.29 (US) was deducted. I don't know what the official exchange rate was at that time, but EX. Com shows it at 3.07880 now. I have never had fees added to my account later, and if this withdrawal has an "exchange fees (buried in the rate)" it's a small price to pay for being able to use any LINK ATM in the city.

Easy Go

05-14-07, 15:44

So a credit union card might be a good deal as well. Can you share the name of your credit union? I can't imagine that all credit union cards work exactly the same way.

Rubiks Cube

05-24-07, 18:34

Times have changed with the banks here and aside from the limits per withdrawal it is also a lot tougher to take out more than 1000 pesos. I would caution those of you coming that this is the first time I have ever had this problem and from talking to some others it seems that it applies to most banks. My daily limit is $2000 U. S. But I still get the message that I have went over my daily limit at just over $300 US.

To those of you who come here with the intention of pulling alot of your cash out from ATMS you may want to keep this in mind.

If anyone knows how to get around this problem I would appreciate the advice

Lexton

05-29-07, 19:06

Well, it has happened, just as I expected. This morning I got hit with a $ar300 per transaction limit using Cirrus. I was using a LINK ATM at Banco Hipoticario, so I tried the other available options with the Visa Plus and LINK networks. All gave me the same message, $ar300 is the transaction limit. This is new since yesterday. I got $ar900 in 3 transactions.

I have been expecting VISA to close this loophole of using Cirrus to avoid high ATM fees since this whole mess started. The thieving banks are on a tear, and they just aren't letting up. And this administration has been happily helping them pry money from the people who can least afford it and give it to people who don't need it. Realize that the ATM fees are IN ADDITION to the 1% conversion fee that VISA charges for the international transaction, which is more than enough for the currency conversion costs.

Interestingly, this whole mess also coincides with the purchase of MBNA by Bank of America. BofA bought MBNA to acquire their credit card accounts, since no sane person would get a BofA credit card with it's outrageous fees. They raised the fees in EVERY category, including installing a 3% International Transaction fee, where there was NONE before. They they sent out e-mails shouting "Use Your BofA Card More". Yeah, right. No, we're looking forward to cancelling the account. I haven't used a credit card to pay for anything internationally in years. All that has me thinking that a part of this may also be aimed at forcing international travellers to use credit cards to pay more and thereby get the high credit card fees, since BofA, Citibank, and Chase have bought up most of the at least VISA credit card accounts in the US and put International Transaction Fees on ALL of them.

I am glad I am using an ATM card with no fees.

Punter 127

05-29-07, 21:20

I had problems today also; however I'm sure it said the limit was $350ar. This was with a Visa debit card at a "LINK" machine using Cirrus. I also have a MasterCard debit account and was able to take $400ar and did not see the limit message with this card, so if you have a MasterCard account you may be able to take more.

Alan23

05-31-07, 22:15

Stopped by the local bank today to inquire about the recent screw the customer actions of the local banking system. Spoke with the assistant bank manager - who turned out to be a heck of a nice guy (kept telling me how hard it is to do business here in Argentina. Proud of his country, but in no way an apologist for the total lack of customer oriented business practices here)

He called LINK for me, some of the information they gave him is true - some is not:

- newly imposed 300p per day limit for Foreign issued cards (this is not totally accurate, as the real amount is 350p and is a per transaction limit not daily limit)

- this was done by LINK and not the local banks, for the reason of curbing fraud in the form of cloned cards, etc. Coming in line with the recent Banelco system changes (this is total BS, as the daily limit can be reached - but with multiple transaction. Read that: MORE FEES for some users!)

- He suggested that we all call LINK customer service to complain about the recent change. I tried for a direct number to a high level person at LINK, the best I got was a toll-free number to their customer service.

If you care about this issue, I suggest you give them a call: 0800-888-5465 (this is a local BsAs toll-free number) If you care to call from the USA or other country, you will not be able to use this toll-free number. I will try to get a direct dial telephone number for your use tomorrow.

Alan

Khoofoo

06-06-07, 19:02

Now this is getting ridiculous.

I use multiple foreign ATM cards and for many years now I could always find some combination of card / network that would give me 1000+ pesos from pretty much any cajero.

NOW, with these latest Banelco / LINK limits imposed I am finally down to no more than 300 or 350 pesos a day, no matter what combination of card / network I try.

Argentina has finally put the squeeze on us mongers. With the ATM situation now restricting my financing to less than two ho's a day, I may have to go explore greener pastures.

Party BMW

06-06-07, 19:46

I was recently in BA with the same problem. I normally traveled with little cash and used the ATM alot. But I'm glad my friend warned me so I brought all cash. Its a lil risky to bring it that way but to be without money in BA is riskier.

Post this warning to all mongers. I compare it when Argentinians could only withdraw 100 pesos during the crisis.

Now this is getting ridiculous.

I use multiple foreign ATM cards and for many years now I could always find some combination of card / network that would give me 1000+ pesos from pretty much any cajero.

NOW, with these latest Banelco / LINK limits imposed I am finally down to no more than 300 or 350 pesos a day, no matter what combination of card / network I try.

Argentina has finally put the squeeze on us mongers. With the ATM situation now restricting my financing to less than two ho's a day, I may have to go explore greener pastures.

StrayLight

06-06-07, 23:10

NOW, with these latest Banelco / LINK limits imposed I am finally down to no more than 300 or 350 pesos a day, no matter what combination of card / network I try.I dunno...I use a Master Card/Cirrus card on Link and get 1,500 pesos every time I go.

SL

Alan23

06-06-07, 23:36

I dunno. I use a Master Card / Cirrus card on Link and get 1,500 pesos every time I go.

SLSL,

Are you in BsAs now and have you made a 1500p withdrawal within the last 5 days?

If so: where exactly was the ATM machine located, bank name, etc.

Jackson

06-07-07, 01:57

SL,

Are you BsAs now and have you made a 1500p withdrawal within the last 5 days?

If so: where exactly was the ATM machine located, bank name, etc.Hi Alan,

StrayLight specified a "Master Card / Cirrus card on Link" combination, which was something similar to what my next ATM experiment was going to entail. The Link machines I've used actually provided access to several ATM systems, including Cirrus. I've never used anything but the Link system in these past situations, but I did review these options for future reference, and now seems to be the time to start trying them out.

Thanks,

Jackson

Alan23

06-07-07, 02:22

Hi Alan,

StrayLight specified a "Master Card / Cirrus card on Link" combination, which was something similar to what my next ATM experiment was going to entail. The Link machines I've used actually provided access to several ATM systems, including Cirrus. I've never used anything but the Link system in these past situations, but I did review these options for future reference, and now seems to be the time to start trying them out.

Thanks,

JacksonHi Jackson,

The reason I asked Straylight the exact location of the ATM is that I have been using either Cirrus or Visa Plus on LINK in the past - never with problems. My issuing bank swears up and down they have made to changes, and this is a result of new limitations imposed on the Argentine side.

Interestingly, my card has never worked at all in a Banelco machine. So I have been driven to always use LINK - so when Banelco imposed the new limits and LINK did not (until recently) it did not matter.

Dodging broken and dog-shit covered sidewalks is something we can all live with. Not having easy access to cash for daily living expenses is another.

Regards,

Alan

StrayLight

06-07-07, 08:01

SL,

Are you BsAs now and have you made a 1500p withdrawal within the last 5 days?

If so: where exactly was the ATM machine located, bank name, etc.I am in BsAs (I live here) and I don't remember when the last time I withdrew a full 1,500 was, but it was not much longer than a week ago. I'll try to remember to do it again today to check it out.

Normally I use Banco de la Nation or HBSC. The exact location of the machine has not mattered in the past.

SL

StrayLight

06-07-07, 12:10

So I just now made a 1,500 peso withdrawal using a Master Card / Cirrus / Link combination at an HSBC.

Punter 127

06-07-07, 16:28

So I just now made a 1,500 peso withdrawal using a Master Card / Cirrus / Link combination at an HSBC.It looks like Master Card is the key here. The last withdrawal I made before leaving BsAs was over the $350 limit and it was with Master Card.

Alan23

06-08-07, 16:32

It looks like Master Card is the key here. The last withdrawal I made before leaving BsAs was over the $350 limit and it was with Master Card.Had another discussion with LINK today. The recent 350p limitation imposed by LINK on VISA transactions is a result of Visa International reducing the amount of commission they pay LINK for their transaction processing. LINK is not shy about admitting that they are forcing customers in making more transactions to generate more revenues for themselves.

So how long will it be before Mastercard follows suit with Visa International? Probably not long. It was about 5.5 months between Banelco changing their withdrawal policy, and LINK doing the same.

I did not find voicing my displeasure to LINK to be very effective. Would recommend that those planning to fund their living expenses from ATM cash withdrawals, acquire more than one non-limited, fee minimized card.

Good luck guys - and welcome to the financial frontier!

Thomaso276

06-08-07, 19:52

I wonder if this is limited to Argentina? Seems like the financial process here is always sub-par.

StrayLight

06-08-07, 23:09

I withdrew another $1,500 pesos today using MC / Cirrus / Link.

Lunico

07-07-07, 23:14

I took out about 600 pesos at Banco Francia on Bonpland and Sante Fe in Palermo. I think I could have withdrawn more.

BA Luvr

07-08-07, 00:37

Every U. S. Based bank has its own policy, but it's common to restrict withdrawals to a daily maximum on a bank debit / check card. I discovered that my community bank had a $300 maximum as standard, but would increase it to $500 on my request. I suspect some of the limit issues discussed here were not Argentine.

Alan23

07-08-07, 16:02

Specifically, Visa still limited to 300--350 pesos?Sidney,

The answer remains yes when using a Visa sponsored ATM card: 350 pesos. You are able to make multiple requests of 350 pesos until you hit your "home" bank daily limit (I. E. $400 USD) So you stand there and make 3 withdrawals within one minute.

Of course the problem is the Argentine Processors / Banks are counting on you having to pay a "per transaction fee", which many of us do not - at least to a limited number of transactions per month. I personally get 8 freebies per month, unfortunately I can not live on 8 withdrawals a month. So "plan B" has been to acquire 2 other ATM cards, also with no fee transactions.

Two words to describe the Argentine banking system: IT SUCKS!

El Aleman

07-08-07, 19:28

Take care: that you don't pay a transaction fee probably only means that your own bank does not charge one. If there are fees from the other bank, you may very well be hit by them.

No doubt that the Argentine banking system sucks, but it seems to be a Argie bank - VISA double suck.

2 centavos.

El Alemán

Jtenge

07-09-07, 04:50

Is there an Amex office in BA that will cash a $US check? If so, where is it? That would solve the ATM problem.

Exon123

07-09-07, 13:22

Is there an Amex office in BA that will cash a $US check? If so, where is it? That would solve the ATM problem.No it wouldn't, you'd end up paying higher fee's, You think Amex works for nothing?

Exon

RichiBoone

07-22-07, 05:36

Will be in BA for a week soon and noticed this thread. When in Mexico we mostly used our bank debit card until recently. Switched to travelers checks to avoid fees and cashed them at the casa de cambios.

Will that approach work in BA?

Are the fees a bigger deal if you live in BA?

Also, what's this about having two cards from the same bank. How does one do that? Is there any advantage other than increasing the maximum $ amount of daily withdrawals?

El Queso

07-22-07, 16:26

It would probably work using travelers' checks, but personally I hate dealing with them.

If you have a Master Card debit card from your bank, your limit here should be whatever your bank's normal limit is. Mine was U$S 500 before I left the States and my bank gave me an U$S 800 limit on asking. I can pull out 2400 pesos a day (really whatever the exchange rate works out to the U$S 800 limit) except for the weekend, when I am limited to 2400 pesos from Friday midnight to Sunday midnight (pain in the ass fraud prevention) but that is my bank's limit, nothing down here.

I have a Visa debit card from another bank where I am indeed limited to 350 pesos per day, but as descrbibed below, that is a local limit applied to Visa cards because of their pricing structure.

The fees charged are not out of the ordinary for a single transaction, it is the fact that LINK is creating this "artificial" limit to force the user to pay more transaction fees because Visa reduced how much it is paying LINK for each transaction. Therefore, if you have a Master Card it is still reasonable IMO.

If you don't mind paying normal fees per transaction for Visa, and don't mind the fact that you have to pull money out more often and therefore pay more in overall fees, Visa is still better than travelers' check as far as convenience goes. Remember - the limit is per transaction, but you can perform as many transactions in a day that your bank allows. You may have a hard time finding a place to cash your checks on Saturday and it may be impossible on Sundays and holidays (of which they have quite a few down here) If you're staying in a hotel, they MAY cash your checks on a holiday or Sunday, but I've never stayed in a hotel here and can't speak to that. I've done that in other countries is why I mentioned it.

For those of us living here, the only issue is that to withraw our money using a Visa card, it costs us more if that's all we have to depend on because we live here and have to do withdraw more often and therefore pay more in fees. Obviously, the more transactions to get out what we need, the more it costs us. If I had to pay rent by extracting money from an account with a Visa card, for example, I would have roughly 8 times more in fees just to get the money out to pay rent than I would if I had to use a Master Card.

Mpexy

07-23-07, 05:38

If you can, just open a Citibank account, any no-fee or low fee checking account will do, before leaving the states. Just use that debit card and you can draw out $1k / day except as noted the Fri-Mon counting as one long day for max limits.

For living and traveling abroad, Citibank is imo the best option. Interinstitution transfers, in or out, are free from your other bank or investment accounts and unless you need a huge transfer the 1 or 3 day transfer isn't that big a deal compared to a wire.

Withdrawing from any Citibank branch around the world is no fee. Every now and then one branch somewhere screws up and tries to tack on a foreign funds withdrawal fee, but that only happened twice in my 1.5yrs in BasAs and a call to Citibank gets that reversed.

Jackson

07-23-07, 20:15

I have been able to withdraw 600 pesos.Sidney,

The most important question is: What system did you use?

Banelco, Link, etc.

Thanks,

Jackson

Rockin Bob

07-24-07, 14:25

Thanks everybody for all the info. This really is a screwy situation with the ATM's, the only thing I understand is, I'm being screwed! ATM fee, Foreign Transaction fee, give me a break.

However, for practical matters this may help: a couple of weeks ago I went to Citibank, used a Master Card, and was able to withdraw 1000 pesos in one shot. Today, just to see, I tried to pull 1500 pesos in one shot and surprisingly I succeeded.

I had to acknowledge that I was not in violation of money laundering laws!

The good news in all this is that the Not-So-Almighty-Anymore Dollar is actually getting more pesos today than it has all year. Go figure. Anybody planning on a trip to Brazil might want to hurry up. In relation to the Real, the dollar is sinking steadily.

Jackson

07-24-07, 16:06

Several others.Hi Sidney,

Banco Cuidad is the name of the bank, which is generally irrelevant.

What we need to know is the name of the ATM system that the bank's ATM was using.

Banelco, Link, Cirrus, etc.

Thanks,

Jackson

Rockin Bob

07-26-07, 12:14

This week the peso has plummeted! I'm not complaining, but I was wondering if anybody knows why, and if it is likely to fall more, stay the same, or revert back to where it has been for the past two years?

Jackpot

07-30-07, 23:32

Punter 127

07-31-07, 18:35

Looks like "whining" to me! But then all his post look like "whining" to me.:rolleyes:

Easy Go

07-31-07, 22:38

Just get a US Citibank savings account to use as an ATM cash account. Transfer money into the account as needed. $500 minimum balance for no monthly fees. In the US, ATMs at 7-11's can be used with a Citibank card without any fees.

Mpexy

08-01-07, 04:11

My last visit (May 07) as a us Citibank Gold account holder, I was able to obtain 2000P per withdrawalfrom a Citibank at Callao / Alvear day after day with no transaction fee.

So Sydo, Did you use a non Citi card in the Citi Banelco? My understanding is Banelco is a consortium of banks who operate this cash service and extract a piece of the action. You can use the Banelco at many banks but you will pay a fee and apparently be given a mere pitance of a withdrawal.

Go with a Citibank ATM with a Citi account in the US and stop the whining.

JackpotI am not sure of other locations, but at the Citibank branch on Callao and Alvear, I was able to use either the normal 2 Citibank branded ATMs, or the banelco one inside that Citibank branch without special fee, and either one let me take out up to my set limit of $1k per day, just over 3k pesos depending on the exchange rate (you can raise or lower the initial default that Citibank gives you - I don't remember what mine started at but it was I believe either 300 or 500, and I had them raise it to 1k)

One time, when I used the banelco one inside that Citibank branch, they charged me some ATM fee that came out on my Citibank transaction statement online as a foreign funds fee - I called Citibank, let them know I had withdrawn from a banelco inside their Citibank locationand they reversed that charge.

Around other world locations, I've found that policy to be the same. Citibank doesn't care who it is, as long as you take out cash from an ATM that they allow to be put inside their bank, you will (or should) never pay a fee to take cash out.

Stormy

08-04-07, 21:00

So I went to the Citibank and my debit card would not open the door (early evening) as it had a number of times before. I seriously needed money so went down the street to another bank where my Citibank card worked fine to get me in and the system gave me 700 pesos, all in hundreds. One of the popular features of the Citibank locations is that they give you a mix of change with each transaction, but so be it.

Then I went to a Farmacity nearby and picked up a box of condoms for 13 pesos and gave the clerk one of my hundreds. (I had almost no other money. He said he couldn't change a hundred, that he had no change. I pointed out that the man ahead of me in line had just given him 72 pesos in cash. He politely pointed out that 72 + 13 was 85 so he couldn't make the change. Did I have a credit card? No. So it was impossible.

I passed another Farmacity. I like these big chains because they always have plenty of change and really good service.

(And I know where they hide the condoms. This one was really busy and I had to wait in line. The clerk here was horrified at the 100, but this time I pretended I couldn't understand him and the security guard came over and told him that I was a gringo baludo (clueless) and he opened up his change drawer which was full of change and did it and was nice about it.

Apparently they have little change because they regularly stuff money into little safes so that in case of a hold up, the effects are minimal. In the meantime, the customers can go fuck themselves.