Exchanging Currency

[Dickhead]

Oh, you're paying a conversion fee. Trust me. It just isn't transparent. Sounds like yours is 1% also since that 3.07 point whatever is what I got on my last withdrawals. Normally, and I've posted about this before, I get the wholesale conversion rate minus the 1% and it ends up being about not quite halfway between the bid rate and the ask rate at the cambios. If the cambios are offering 3.06 pesos for the dollar, and asking 3.10 pesos to buy a dollar, I'd be getting 3.075 or so.

Waterhouse boosted their fee from 1% to 3% without ever saying anything about it and that cost them most of my business. They had some shit buried in the fine print of the account agreement that they could do that but I still found it to be very sleazy.

So yes, you are getting fucked $1.50 at a time as compared to me. Nyah.

I always have plenty of small change from trolling pay phone booths and scouring gutters so I would probably give the driver 8,75 in that scenario. I would give him 9 pesos if he drove well and told some good jokes, and would give him 8,50 if he drove like shit, smelled like shit, flipped me shit, or had a dirty car.

To add further info: I checked my last four withdrawals. Two were on 13 March and two were on 10 March and the conversion rates were:

3.0785
3.0784
3.0781
3.0782

Plus Moore, aren't you paying $10 a year for your ATM card? I'm not.

[Moore]

Question for Dickhead-

Overcast day, taxi fare 8.36. Do you tip 64 centavos or 50 centavos? If the answer is 50c and neither you nor the driver has anything smaller than 5c coins, do you tip 49 centavos or 54 centavos? Or something else?

Assuming chicklets/candies are not valid currency/change, which are considered valid change by many Argentine cashiers.

Since were talking cents here, I'll ask about your "zero ATM fee" account, but that has a 1% conversion fee. I just looked at my last ATM withdrawl and I received 3.073 pesos/$, which is slightly better than the best rate offered on dolarhoy.com. I do pay a flat $1.50 ATM fee (which is less than 1% for my withdrawls), but apparently no conversion fee. I think I could avoid the 1.50 by going to certain machines but dont even bother, I just go to the nearest one. And this is just a standard US checking account with no minimum balance. So is that not even more "free" than your account?

[Dickhead]

ATM (Ass to Mouth) is not a chili dog. A chili dog is when you are butt fucking and when you pull out there is shit all over your dick.

I avoid ATM fees by using my fee-free ATM card from E-Trade. If you have a certain minimum amount invested with them, I think either 25k or 50k, they will reimburse you for an "unlimited amount" of ATM fees "within reason" and they themselves don't charge any ATM fees. So, I haven't paid an ATM fee down here, ever. Also they only charge a 1% conversion fee as opposed to Waterhouse which charges 3% (I have accounts with both)

The thing about propinas was sort of a joke. I tip 10% in restaurants and whatever is left on the cab meter (I do have to use cabs when I am pulling chicas from clubs) up to 50 centavos for a short ride or 1 peso for a long ride. By this I mean that if the fare is say 6,30 I tip 50 centavos and if it is 6,60 I tip 40 centavos. But if the fare is say 14,30 I tip 70 centavos and if it is 14,80 I'd probably tip one peso. In bars, if I just have one drink and the bartender pays me no never mind I don't tip. In my regular bars I tip 10%. In boliches I tip the bartender 5 pesos about every other visit and the doorman 2 pesos about every other time he gets me a cab. Unless it is raining; then I tip 5 pesos (always)

I don't tip chicas. With most of my regulars we aren't discussing price and I might give them 120 or 130 or 140 depending on what kind of change I have, how long they spent, whether I fed them, and so forth. Now that I am out in the suburbs I will also pay cab fare one way, which is 15-20 pesos.

Sometimes just for fun I will negotiate a chica down from say 130 to say 120 and then give her the 130 anyway.

If I get food delivered, which is rare, I tip 1 or 2 pesos depending on the bill, but somewhat less than 10%. They are all making at least minimum wage, unlike the US where waiters and waitresses make I think it is 60% of minimum wage. And they get the aguinaldo and all of that. No, they don't make very much money but the general wage structure of the country is not, to me, a reason to tip. Tipping is an obnoxious practice overall. In the US, I'd much rather see the servers get paid what the market will bear, by the restaurant, and raise prices accordingly.

My experience is that most working class Portenos tip less than 10% in restaurants. In fact I recently ate with such a couple and attempted to tip 10% and they told me that was too much and to leave somewhat less "because they have to come here all the time."

[Moore]

I have exchanged cash once that I can remember in several years in BA, and that was to make my USD rental deposit (sizeable). The USD/Peso bank spreads are so tight that you're only losing about a point on the exchange.

If you're leaving the country for a long time, Argentine pesos are not a currency to hold. So after paying your airport taxi/tax in pesos, you can just change the couple hundred pesos leftover at the airport. Even if the rate there was 10% below market, you're still only talking 6 or 7 USD loss.

But as a general travel rule - never change money (except leftovers of unwanted currencies when you leave). In most currencies you get dorked substantially both buying and selling. Theres just no reason to with ATMs and credit cards giving you market rates on local currency. Even in small, remote towns here, it seems that you're never far from an ATM. Besides being cheaper, its safer and easier than going on trip with a big wad of US100 dollar bills in your pocket, hotel room, etc. Like in USA, I never even bother looking for an ATM with my bank name here - the 1.50 otherbank ATM fee isnt a killer. It has amazed me in the US how many people will go out of their way, driving thru traffic, to save a 1.00 ATM charge.

I do, however, think its a good idea to keep about US$200 tucked away in a special compartment of your wallet at all times. It can be a real lifesaver in a pinch down here!

[Mpexy]

Mongers-

I do not understand why those coming to Buenos Aires bother bringing any more than a negligible amount of USD with them, when there are thousands of ATM's located everywhere that will give you the best, up to the minute exchange rate. For example, I have a Citibank account in the NYC area, I withdraw from any of the dozens of Citibanks located throughout Buenos Aires (and other major Argentine cities) I get the best exchange rate possible (and the citibank machine shows how many dollars are coming out of my account on the screen) and there are ZERO fees involved. This would also work with those holding HSBC account, as there are HSBC branches in Buenos Aires as well.

Suerte,

Dirk Diggler

And if need be, perhaps for some reason you think or want to have dollars, you can simply withdraw in dollars rather than pesos from those same Citibank and HSBC atms. At least, the ones I've used in Recoleta and Galleria Pacifica.

Note - there is one reason at least that I prefer to have some dollars on me while in BA, and that's to make my security deposits on apartments. I prefer to pay rent in pesos, but have my security deposit made and returned in dollars.

[Jaimito Cartero]

If you're going to be hurting financially because you have 100 pesos in your wallet, you're in trouble. I always try to have enough for a taxi in my wallet for my next trip.

That way if I come in late, I'll always have enough to get to my apartment. Obviously if you're never coming back, then spend or exchange them.

[Rock Harders]

Mongers-

I do not understand why those coming to Buenos Aires bother bringing any more than a negligible amount of USD with them, when there are thousands of ATM's located everywhere that will give you the best, up to the minute exchange rate. For example, I have a Citibank account in the NYC area, I withdraw from any of the dozens of Citibanks located throughout Buenos Aires (and other major Argentine cities) I get the best exchange rate possible (and the citibank machine shows how many dollars are coming out of my account on the screen) and there are ZERO fees involved. This would also work with those holding HSBC account, as there are HSBC branches in Buenos Aires as well.

Suerte,

Dirk Diggler

[Thomaso276]

Metropolis always has one of the worst rates. As well, they drop considerably in the afternoon and on weekends.

[Exon123]

Hears something to think about! And worth considering.

Every time I leave Buenos Aires I have a few unspent peso's.

Problem is no one wants them at any exchange house in the US Ariports. They simply don't touch Argentine peso's, Wonder Why? LOL.

But moreover I need dollars when I leave Not Peso's. I try and plan to have a hundred US dollars in my pocket for the trip back.

Hers a possible solution.

All us Mongers come to town with dollars and one of the first things a lot of us see is Ana Luna for our ride into town from the airport.

Quess What, Most of us pay her in Dollars cause we don't have peso's which she has to convert into dollars, of course she collects more dollars and tips with her side trips.

Try exchanging your extra peso's for her dollars on the way to the Airport, that way everyone wins.

Exon

[Moore]

The best Euro sell rate is 3.66 per dolarhoy.com, so you couldnt have lost more than a few Euro assuming you were not buying several thousand of them.

[Mike411]

I ended up at Metropolis casa de cambio on Florida 506 on my last day, and due to time and desperation I ended up getting hosed exchanging to Euro from Peso at 3.72. I walked by other places quoting 3.66 and 3.58, but they were all out of Euro, or Dollar. Oh well.

I couldn't find that Russian guy.

[Skip1]

They are at Sarimiento 356 near Reconquista, down the street from Paris Cambio.

I found them orderly an efficient. You take a number and get served pretty quickly. They always had the top rate and they run the peso bills thru a counting machine several times as you watch and put them under a blue light to detect trucho.

[Sportsman]

I have been using this ATM whenever possible. Two things I like about this ATM:

1. When I withdraw 500 pesos, I always get (except in one instance) four 100 pesos, one 50 pesos, and five 10 pesos bills.

2. I only have to swipe the card instead of inserting it into slot. This way if there is a problem, the machine does not "eat' my card. I had that problem once while overseas, the machine kept my card. Luckily I had another one for my trip.

[Easy Go]

When I get money from a Citibank ATM in BA, it gives me a mix of bill sizes even when I select a round number like $AR900. Other banks usually need the $AR890 trick.

ATMs are definitely the way to go but don't assume that you can use any ATM at any time of the day. I'd say that 20% of the time outside of normal business hours, I have a problem and can't get any money from a specific machine. I'm usually able to find one that works, but it's a PITA. Better to plan ahead.

[OslersVoice]

Having more money doesn't make you a bigger target. Having more money means you lose more if you get robbed. Personally I think it's a better idea to keep cash not needed in the moment in the neatherworld of electronic banking. A prudent reserve in a hotel safe is not a bad idea but only if you are the only one with access.

That was my point DR.