Withdrawing USD from bank accounts in U. S.

[Rainot]

Hello, guys!

A customer of mine, who's staying in Argentina for a few months, has a bit of a problem with a bank account from Bank of America. They're telling him he can only withdraw 100USD at a time. Is this true? If so, is there a way to get past this "corralito"? He tried several banks. Francés, HSBC, etc.

My apologies if this has been asked already. I used the search but just found info about getting ARS thru ATMs.

Edit: forgot to add: it's a checking account, the credit card is a VISA. And they will give him ARS instead of USD, for larger withdrawals (e.g. 700USD = 2320 ARS). The top amount of USD is 100 for each withdrawal (I believe that's a per day thing).

[Thomaso276]

There is a real shortage of dollars right now, see RockHard's posts about his experiences last week

[Giovanni B]

I have an account with Citibank in the USA and am able to withdraw 3000 pesos each business day. I have been told that the fact that their ATM is a MasterCard has something to do with the whole equation. But as we all know the dollar is king here and it is best to have dollars and not hold onto pesos unless you need them at the moment.

[El Queso]

Also, I have never been able to draw dollars from an ATM here (although in Paraguay I've not had problems) I have a Bank of America visa debit card, and have always had problems pulling more than the EQUIVALENT of U$S 100 (although there was one machine recently I could pull out the equivalent of U$S 200 with that card)

I have tried in the past to pull dollars out, but after conversation with bank personnel was told that only customers of the bank could access the dollars option of the ATMs.

I saw someone else post in the past as well that they had tried with Citibank but were told that because of the different banking laws here in Argentina that a Citibank account in the States didn't have all the benefits here if your account was from outside the country.

[Giovanni B]

I have found out that the Citibank services are limited in that all that I can get is access to the ATM and that I could not deposit checks or withdraw money as if I were in the good ole USA. But I can withdraw 3000 pesos a day which is the most that I have heard being available via ATM.

Johnnie

[Rainot]

Thanks for all the info, guys!:D I was able to find Rock Harder's posts.

In case anyone needs the data: http://www.argentinaprivate.com/forum/showpost.php?p=391432&postcount=736

Cheers!

[El Queso]

Thanks for all the info, guys!:D I was able to find Rock Harder's posts.

In case anyone needs the data: http://www.argentinaprivate.com/forum/showpost.php?p=391432&postcount=736

Cheers!Maybe I was confused - I thought your guy was looking to pull dollars out of ATMs. If so, seems like the real question was how can he get more than the equivalent of U$S 100, which is answered in the first forum you referenced, and then how can he change that into dollars, which Rock Harders did indeed answer as far as what happened to him on that day goes.

[Rainot]

Right, so to sum things up, there's NO WAY one can withdraw more than 100USD from a US bank account, per day. Anything above that they convert to ARS, and then you have to go buy dollars at excange houses.

Will Banco Nación sell dollars to americans? Does anyone know if they only require a passport? Anyways, I bet the lines are long enough to prefer exchange houses, right?

[Facundo]

Right, so to sum things up, there's NO WAY one can withdraw more than 100USD from a US bank account, per day. Anything above that they convert to ARS, and then you have to go buy dollars at excange houses.

Will Banco Nación sell dollars to americans? Does anyone know if they only require a passport? Anyways, I bet the lines are long enough to prefer exchange houses, right?I do a lot of banking at the Banco de la Nación and the lines are relatively short. I know the Banco de la Nación will actually allow foreigners who have residency and a passport to open bank accounts in pesos or US$ dollars without a DNI. Try the Banco de la Nación on Cabildo around block 2100 (even numbers side) to cash dollars (go upstairs to the first floor) Next time I'm in the bank I'll ask if they exchange pesos or dollars with only a passport.

[BadMan]

This is a a new law that is now in full effect. The AFIP is trying to clamp down on every single dollar bought sold transferred etc. Any person with a Residency can get a bank account without a DNI, but only provisionally. After the provisional period, you will need to provide a valid DNI or a letter stating it is in process.


Next time I'm in the bank I'll ask if they exchange pesos or dollars with only a passport.Regards,

BM

[Thomaso276]

Be careful with that 3000 limit. If the money is sloppy, it cannot pass thru the narrow slot that delivers the bills. 2500 is usually pretty safe but one time it jammed up and I was pulling bills trying to keep it from closing with my money!


I have found out that the Citibank services are limited in that all that I can get is access to the ATM and that I could not deposit checks or withdraw money as if I were in the good ole USA. But I can withdraw 3000 pesos a day which is the most that I have heard being available via ATM.

Johnnie