On Monday through TL's friend.
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On Monday through TL's friend.
Today I withdrew 4500 pesos at HSBC by ATM at 15.26 from my US bank with a rebate of ATM fees later... Three withdrawals of 1500 pesos plus 93.6 fee... 1593.6 pesos from HSBC and $104.43 US from my account...
More recon... Do not use Argentine banks for ATM withdrawals... Banco Provincial and Banco Hipo only allow 1000 peso w/d and charge 93.6 pesos per transaction...total ripoff... Use HSBC and BBVA both allow 1500.
And at least 3 pulls... More recon tomorrow as to the maximum pulls per day from either BBVA or HSBC...My California gave 15.25 as the exchange today. Capital One MasterCard was 15.45 yesterday ...
The USA educated Harvard and MIT Sloane Business School economist, egghead now running the Banco Central de Argentina, Sturzenegger, is pissing in the wind if thinks he can buy his way out of this escalating peso weakness. Yesterday Federico Sturzenegger (no relationship to Arnold) invested more than US $100 million of reserves and the currency fell 28 cents. My take is the boys in Macr's store are very nervous. Flooding dollars into the market is like shoveling shit against the incoming tide. It will work for a while but will never stop the inevitable flood that's coming. Macri must tackle inflation first. Strict pay freeze and price controls. It will never happen because it's a bitter pill for Argentina to swallow. That's my two cents. Thanks Bobby Doerr.
After Macri [URL]www.dolarblue.net[/URL] is no longer online.
However, for selling dollars the current market price can be seen online at [URL]www.mundinix.com[/URL].
They only mark the sell-dollar (buy peso) exchange in Buenos Aires, but it's quite accurate.
[QUOTE=BobbyDoerr;447095]The USA educated Harvard and MIT Sloane Business School economist, egghead now running the Banco Central de Argentina, Sturzenegger, is pissing in the wind if thinks he can buy his way out of this escalating peso weakness. Yesterday Federico Sturzenegger (no relationship to Arnold) invested more than US $100 million of reserves and the currency fell 28 cents. My take is the boys in Macr's store are very nervous. Flooding dollars into the market is like shoveling shit against the incoming tide. It will work for a while but will never stop the inevitable flood that's coming. Macri must tackle inflation first. Strict pay freeze and price controls. It will never happen because it's a bitter pill for Argentina to swallow. That's my two cents. Thanks Bobby Doerr.[/QUOTE]Every politician in a democratic society, including Richard Nixon, who has tried price controls has failed. They may be a short term fix, but in the long term they are doomed to failure.
Tres3.
[QUOTE=Paladin;447094]More recon... Do not use Argentine banks for ATM withdrawals... Banco Provincial and Banco Hipo only allow 1000 peso w/d and charge 93.6 pesos per transaction...total ripoff... Use HSBC and BBVA both allow 1500.
And at least 3 pulls... More recon tomorrow as to the maximum pulls per day from either BBVA or HSBC...My California gave 15.25 as the exchange today. Capital One MasterCard was 15.45 yesterday ...[/QUOTE]I had the same problem. I have American credit cards and bank cards. I'd try to draw out say 3,000 or so pesos from atms belonging to Argentine banks, and I'd get denied. The only time banks like Banco de la Nacion, Banco Patagonia, etc would work is if you withdrew a small amount like 700-1000 pesos, basically nothing bigger than their fast cash. To get the amount of pesos needed, you'd have to keep swiping and paying around 92 pesos per piecemeal withdraw. Maybe this scheme is how the Argemtine banks stay in business?
I was able to get 2000 pesos from a Santander Rio ATM on one swipe, but I think it denied me from getting 3000 pesos on the previous try. Is that a Spanish or Argentine bank?
I got 2500p at the Citi on Florida and Tte Gral Juan Domingo Peron, on the 16th.
They charged me 90.60p.
For a total of $174.69.
Enough of this.
Start checking which Private Apartments are still open!!!
[QUOTE=WorldTravel69;447099]I got 2500p at the Citi on Florida and Tte Gral Juan Domingo Peron, on the 16th.
They charged me 90.60p.
For a total of $174.69.
Enough of this.
Start checking which Private Apartments are still open!!![/QUOTE]The only way you can do better than a cueva is if you have an ATM card that rebates the ATM fee, does not charge a foreign transaction fee (charged by USA issuers on your monthly statement), and does not charge a money exchange fee (also charged by USA banks on your monthly statement).
Tres3.
The move is on. Dollar holders and owners can only hope that the slide in the peso value will be gradual and orderly so as not to provoke some unpredictable and dangerous behavior out of the parties that be. This is truly a Pura Vida moment! (I gotta come and eat steak).
Sorry I am dense but this string, or my understanding of it, goes against everything I have encountered, anywhere....I know Welcome to Argentina! But, could someone on the street there with serious knowledge of this break this down for the board...If you don't know please don't confuse the issue more. Not looking for economics lesson but some basic breakdown of what the last few weeks of this string really mean to the person showing up tomorrow. Thanks if advance.
1. Are you saying not to exchange dollars for pesos at typical exchange places or "Cambio" guys we all know and love?
2. Are you saying the banks are giving equivalent or better exchange than the places above for straight up cash change dollars to pesos?
3. Are you suggesting that if your bank does not charge foreign transaction fees, money exchange fees, and rebates the ATM charge that using your debit card is a better deal than exchanging cash?
4. Are you suggesting that people use their credit card for purchases if it has not foreign exchange fee because they will get a better rater than they will from 1-3 above?
[QUOTE=PeterSideburn;447127]Sorry I am dense but this string, or my understanding of it, goes against everything I have encountered, anywhere....I know Welcome to Argentina! But, could someone on the street there with serious knowledge of this break this down for the board...If you don't know please don't confuse the issue more. Not looking for economics lesson but some basic breakdown of what the last few weeks of this string really mean to the person showing up tomorrow. Thanks if advance.
1. Are you saying not to exchange dollars for pesos at typical exchange places or "Cambio" guys we all know and love?
2. Are you saying the banks are giving equivalent or better exchange than the places above for straight up cash change dollars to pesos?
3. Are you suggesting that if your bank does not charge foreign transaction fees, money exchange fees, and rebates the ATM charge that using your debit card is a better deal than exchanging cash?
4. Are you suggesting that people use their credit card for purchases if it has not foreign exchange fee because they will get a better rater than they will from 1-3 above?[/QUOTE]I am no economist but I am understanding that cash is still king unless you have a magical bank card that charges no fees at all.
[QUOTE=PeterSideburn;447127]
3. Are you suggesting that if your bank does not charge foreign transaction fees, money exchange fees, and rebates the ATM charge that using your debit card is a better deal than exchanging cash?
[/QUOTE]In an effort not to confuse the issue some more, I will respond only to your item #3. My post was in response to an earlier post. I was trying to alert members that they need to take all of the fees that are assessed before concluding that an ATM was a good, or almost equal deal.
FYI I do not live in Argentina, and there are no fees from my bank. My bank rebates all ATM fees. I visit Argentina almost every year for at least one month (lately for two). This will be my 15th trip to Argentina since 1991. Even though the current government has devalued the currency and made ATMs very close to cuevas, I will continue to change money with my local money changer. Nothing anyone has said or done has convinced me that my local money changer does not give the best deal. It is not as good as before the devaluation, but it is still better than an ATM. When I travel in Argentina, I leave all of my plastic in a safe.
Tres3.
A couple of days ago I suggested only converting dollars to meet immediate needs. Now the slide is on and it is getting dramatic. So instead of just converting dollars to meet immediate living needs-heck-I would try to borrow in pesos (ie car loan), if possible, and repay later in what really looks like a fast depreciating currency.
[QUOTE=PirateMorgan;447130]A couple of days ago I suggested only converting dollars to meet immediate needs. Now the slide is on and it is getting dramatic. So instead of just converting dollars to meet immediate living needs-heck-I would try to borrow in pesos (ie car loan), if possible, and repay later in what really looks like a fast depreciating currency.[/QUOTE]The idea is sound if you are in the US, but here with interest at 40% plus....... Not a great idea. The people lending the money are well aware of the inflation and charge accordingly.
[QUOTE=Vampire;447098]I had the same problem. I have American credit cards and bank cards. I'd try to draw out say 3,000 or so pesos from atms belonging to Argentine banks, and I'd get denied. The only time banks like Banco de la Nacion, Banco Patagonia, etc would work is if you withdrew a small amount like 700-1000 pesos, basically nothing bigger than their fast cash. To get the amount of pesos needed, you'd have to keep swiping and paying around 92 pesos per piecemeal withdraw. Maybe this scheme is how the Argemtine banks stay in business?
I was able to get 2000 pesos from a Santander Rio ATM on one swipe, but I think it denied me from getting 3000 pesos on the previous try. Is that a Spanish or Argentine bank?[/QUOTE]Same problem with my cards. Either Chase or Bank of America debit cards, I'm using Banco Nacion ATMs as they are close to home.
I can get 1400 pesos, if I try 1500 it gets denied.
Yesterday I got 1400 pesos, with a 94 pesos ATM fee, the charge by Chase was for US 97.02, so I'm getting 14.43 pesos per dollar.
I think it is not a bad deal, so will save US cash for other high cost 'activities'.
Thanks for the tip on Santander Rio ATM giving you $2000, will try it.
Regards,
Diego.
I am getting 14.70, today, April 6, for exchange $100 bills. This rate seems a little low. What is the spread between the blue dollar rate.
And what is the "normal"discount from the buy rate, Thanks.
[QUOTE=Santa;447258]I am getting 14.70, today, April 6, for exchange $100 bills. This rate seems a little low. What is the spread between the blue dollar rate.
And what is the "normal"discount from the buy rate, Thanks.[/QUOTE]I just checked Ambito and I would say that 14.7 today was in the right ballpark, I might have gotten 14.8 or 14.85 from my guy maybe.
The spread is weird right now, sometimes the blue is above and other times below the "official." I don't think they really know what to do because the administration is buying down the rate in a bunch of different ways. Being money guys when they are uncertain they err to caution.
I received 15.0 yesterday. That is up from the 14.1 I received at the same place a week ago.
Tres3.
[QUOTE=Tres3;447571]I received 15.0 yesterday. That is up from the 14.1 I received at the same place a week ago.
Tres3.[/QUOTE]Thank the Brexit for the strong dollar.
No thanks to *weak peso*.
Got some cash at Banco Nacion ATM yesterday, with the infamous $6 fee by the local bank.
For $AR1500, using a Chase debit card, the total was $106.77, so the "ATM exchange rate" in my case was 14.04, including all fees, my bank and local bank ones.
So Benjamins are still a better option.
[QUOTE=Diegoccs;447574]Got some cash at Banco Nacion ATM yesterday, with the infamous $6 fee by the local bank.
For $AR1500, using a Chase debit card, the total was $106.77, so the "ATM exchange rate" in my case was 14.04, including all fees, my bank and local bank ones.
So Benjamins are still a better option.[/QUOTE]The better option would be for you to dump Chase and get an account with Schwab or E-Trade, both of which provide ATM cards where the fees are reimbursed world-wide. Chase sucks, right out loud.
[QUOTE=Dickhead;447575]The better option would be for you to dump Chase and get an account with Schwab or E-Trade, both of which provide ATM cards where the fees are reimbursed world-wide. Chase sucks, right out loud.[/QUOTE]Not only does Schwab reimburse the ATM fee worldwide, they also have no foreign transaction fee and no foreign exchange commission. One gets all of one's money. However, in Argentina I still think Benjamins are better because the cuevas often give you the best rate. I agree that Chase sucks, in more ways than one.
Tres3.
Out of curiosity, checked my Chase account. For my accounts there is no ATM fees, domestic or international.
But I see the charge for $AR1500 is for $106.77, just that, no extra fees or charges.
The Banco Nacion ATM gives a message that I will be charged around $AR90 (Around $6) when getting money. Is anybody getting this $6 charge also? Could it be just Banco Nacion... Or Cirrus Network?
The blue has been below the official for 3 days. Take your passport & money to a bank for a better rate at this time. [URL]http://www.ambito.com/[/URL].
[QUOTE=Diegoccs;447578]Out of curiosity, checked my Chase account. For my accounts there is no ATM fees, domestic or international.
But I see the charge for $AR1500 is for $106.77, just that, no extra fees or charges.
The Banco Nacion ATM gives a message that I will be charged around $AR90 (Around $6) when getting money. Is anybody getting this $6 charge also? Could it be just Banco Nacion... Or Cirrus Network?[/QUOTE]Everyone pays that $6.00 fee........but, as Dickhead says, Schwab refunds all the six dollar hits at the end of the month. What other bank do, I do not know.
[QUOTE=Rocky2;447582]Everyone pays that $6.00 fee........but, as Dickhead says, Schwab refunds all the six dollar hits at the end of the month. What other bank do, I do not know.[/QUOTE]Thanks Rocky2, all clear now... Thanks also Dickhead and Tres3.
Will go ahead with a Schwab account, just checked their web page, it looks easy to open an account with them.
BR!
Actually, at least in my case, both Schwab and E-Trade refund the fee much sooner than that. With E-Trade it happens immediately, as in I go to the ATM and five seconds later I see both the withdrawal and the rebate of the ATM fee. With Schwab, I don't see either the withdrawal or the rebate until the morning of the next business day.
Changed today and got 14.85.
5 minutes later got 14.93 paying a bill with credit card.
Official rate still better than blue.
Hey Thomaso,
Which bank did you try? I tried Citibank and they said I had to be a client with an account to exchange dollars.
[QUOTE=Thomaso276;447581]The blue has been below the official for 3 days. Take your passport & money to a bank for a better rate at this time. [URL]http://www.ambito.com/[/URL].[/QUOTE]
[QUOTE=HappyGoLucky;447600]Hey Thomaso,
Which bank did you try? I tried Citibank and they said I had to be a client with an account to exchange dollars.[/QUOTE]I believe that is true at most banks. But then there is always the bank at EZE.. They are open long hours also.
I've had to go to the bank (Santander) a few times this week. While there I changed a couple hundred (got 15.05).
You take a ticket, and the wait is 45 minutes minimum.
So I saved about $5 on $200 compared to the cueva rate. Certainly not worth the time, next time I'll go the cueva and change instantly.
Not that I'll be changing much. So far on this trip pretty much every restaurant, bar and store accepts my credit card.
Today I tried exchanging dollars at Santander on Santa Fe at Esmeralda and they told me I had to be a client.
[QUOTE=Moore;447603]I've had to go to the bank (Santander) a few times this week. While there I changed a couple hundred (got 15.05).
You take a ticket, and the wait is 45 minutes minimum.
So I saved about $5 on $200 compared to the cueva rate. Certainly not worth the time, next time I'll go the cueva and change instantly.
Not that I'll be changing much. So far on this trip pretty much every restaurant, bar and store accepts my credit card.[/QUOTE]
Hello,
I am comming to Buenos Aires on 21st of July and I expect to sepnd quite some time there (going to teach English), and I wanted to ask you about the situation in Argentina right now. I have Canadian account where I have most of my savings, so I wanted to know, whether it is ok to just come there with my card and echange money there, or if I should exchange some USD beforehand. I intend to stay there at least half year. Thank you.
[QUOTE=HappyGoLucky;447605]Today I tried exchanging dollars at Santander on Santa Fe at Esmeralda and they told me I had to be a client.[/QUOTE]Sorry I didn't know that. I am a client but I was already there for another reason.
[QUOTE=Invictus8;447606]Hello,
I am comming to Buenos Aires on 21st of July and I expect to sepnd quite some time there (going to teach English), and I wanted to ask you about the situation in Argentina right now. I have Canadian account where I have most of my savings, so I wanted to know, whether it is ok to just come there with my card and echange money there, or if I should exchange some USD beforehand. I intend to stay there at least half year. Thank you.[/QUOTE]For now with the blue and the official rate almost the same, and you can do transfers without a lot of hassles money should not be a issue . But remember to keep a reserve because the banks are always going on strike or the ATMs are always empty, et., etc.. This after all is Argentina, always have a plan B!
That's okay. I'm glad you brought all this to my attention. I've started using my Schwab debit card on this trip because of your info., and I get the Visa exchange rate (which was $14.87 today).
[URL]https://usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html?fromCurr=USD&toCurr=ARS&fee=0&exchangedate=07%2F06%2F2016&submitButton.x=115&submitButton.y=6&submitButton=Calculate+Exchange+Rates[/URL]
[URL]http://www.ambito.com[/URL]
Plus Schwab refunds all bank fees and there are no foreign exchange fees. So except for only being able to withdraw 2000 pesos each time, it's the best deal and there are several banks and ATMs around my apartment.
[QUOTE=Moore;447607]Sorry I didn't know that. I am a client but I was already there for another reason.[/QUOTE]
[QUOTE=Gandolf50;447608]For now with the blue and the official rate almost the same, and you can do transfers without a lot of hassles money should not be a issue . But remember to keep a reserve because the banks are always going on strike or the ATMs are always empty, et., etc.. This after all is Argentina, always have a plan B![/QUOTE]Hi Gandolf, thank you for your reply. When you say keep reserve, I guess you mean little bit of pesos(because of inflation) but mostly USD right? Is there a way to get USD down there either through ATM or from the bank, when I have Canadian account? Because I would assume that I can only take out pesos from ATMs.
Thank you.
I think I just set a record for worst exchange rate ever.
I pulled 2,000 pesos out of Santander ATM (that's the max) and the total that came out of my bank, including 3 fees, was USD 152.40.
So the effective rate was 13.12, about a 13% haircut off official.
I haven't used an ATM in Argentina for years, so I wanted to try. Lesson learned.
Guys,
What is the exchange rate now? Where is the best place?