Exchanging Currency

[Moore]

Today I tried exchanging dollars at Santander on Santa Fe at Esmeralda and they told me I had to be a client.

Sorry I didn't know that. I am a client but I was already there for another reason.

[Invictus8]

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.

[HappyGoLucky]

Today I tried exchanging dollars at Santander on Santa Fe at Esmeralda and they told me I had to be a client.

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.

[Moore]

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.

[Gandolf50]

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.

I believe that is true at most banks. But then there is always the bank at EZE.. They are open long hours also.

[HappyGoLucky]

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.

The blue has been below the official for 3 days. Take your passport & money to a bank for a better rate at this time. http://www.ambito.com/.

[Thomaso276]

Changed today and got 14.85.

5 minutes later got 14.93 paying a bill with credit card.

Official rate still better than blue.

[Dickhead]

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.

[Diegoccs]

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.

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!

[Rocky2]

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?

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.

[Thomaso276]

The blue has been below the official for 3 days. Take your passport & money to a bank for a better rate at this time. http://www.ambito.com/.

[Diegoccs]

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?

[Tres3]

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.

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.

[Dickhead]

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.

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.

[Diegoccs]

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.