ATM's

[QUOTE=Badboy13]PLove the babes, but hate the whole banking system.[/QUOTE]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.

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.

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

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.

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

[QUOTE=Capt Dave]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[/QUOTE]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.

TM

[QUOTE=TangoManiac]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.[/QUOTE]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?

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

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.

[QUOTE=TangoManiac]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.

TM[/QUOTE]Are there any issues with entering back into Argentina with a large amount of dollars?

[QUOTE=Felipe]Are there any issues with entering back into Argentina with a large amount of dollars?[/QUOTE] 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

[QUOTE=Badboy13]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[/QUOTE]The 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

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:

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

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

Badboy

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

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.

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.

[QUOTE=StrayLight]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.[/QUOTE]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. [u]Now[/u] they need to know the address of the local branch before they can forward the funds to my account.

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

SL

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.

[QUOTE=Badboy13]. Now anyone carrying over 10K in cash they look at as a possible drug dealer. I would not advise bringing in more than 9900.

Badboy[/QUOTE]Be 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

[QUOTE=Hefe]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.[/QUOTE]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.

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.

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.

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.

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.

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.

[QUOTE=David Ross]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.[/QUOTE]

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.

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

[url]http://www.mechbank.com/mechbank/TMBwebsite.nsf/personal/index[/url]

[QUOTE=HeadGames]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.[/QUOTE]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.

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.

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 Greco

[QUOTE=El Greco]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 Greco[/QUOTE]I'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.

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.

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.

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?

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?

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

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.

[QUOTE=Courcheval]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.[/QUOTE]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!

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.

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 =)