ATM's

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 USAA (for example) doesn't charge a transaction fee but charges a 1% foreign currency exchange fee on the amount withdrawn.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.

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.

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.

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

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.

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.

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

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.

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.

[QUOTE=Khoofoo]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.[/QUOTE]

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

SL

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

SL[/QUOTE]SL,

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.

[QUOTE=Alan23]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.[/QUOTE][blue]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[/blue]

[QUOTE=Jackson][blue]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[/blue][/QUOTE]Hi 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

[QUOTE=Alan23]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.[/QUOTE]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

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