Job Discussion Forums

spaz · Joined: 05 Sep 2005 Posts: 15

hi there.
i'm planning to be in buenos aires from the start of january to the end of august, 2006. i was wondering what people do about money when living there. do most people open up a bank account there? if so, is there a specific bank that is good for foreigners to use? i'm from canada - is there any bank that is connected with a bank in canada?
thanks

amy1982 · Joined: 09 Dec 2004 Posts: 192 Location: Buenos Aires

hmmm... i don't know much about banks in canada. but there is a citibank here. if you could get an account with them, that would be pretty convenient. otherwise, you can use all the atms here, but you get charged by your home bank (most US banks charge US$5 per withdrawal). i haven't gotten an account and don't know many people that have, but it is possible if you want it.

there are TONS banks down here, so it's possible that a canadian bank has a branch in buenos aires. i'm not sure what you could do to research that other than some quality time with google. but if i see a canadian bank sometime, i'll let you know.

sheena maclean · Posted: Sun Oct 30, 2005 10:12 pm Post subject:

Well Luckily I never really have to make such major desicions seeing as my money never lasts me longer than the next pay pay so problem solved!!

sqwerl · Joined: 01 Jun 2005 Posts: 72 Location: Buenos Aires

I just take the hit and get charged 5 each time.
Just withdraw enough money to get you by for two weeks or whatever so you don't have to pay the fee that often.

spaz · Joined: 05 Sep 2005 Posts: 15

why would people rather just use the atm's? is it very difficult to open up an account there?
what are the pro's and con's of just using the atm's versus opening an account, and what ends up being cheaper in the end?
thanks

REDLEY · Posted: Mon Oct 31, 2005 5:47 pm Post subject:

Well, if you open an account here they will charge you aprox u$s 3 a month maintenance fee. The bank will provide you with a "debit card" for you to use. If you open at Banco Galicia or RIO you have a lot of discounts at several places, supermarket, movie theatre, etc. The thing is that with just a "tourist" entry they will give you an account that will last only for 3 months (correct me if I am wrong). So...if you are staying just for 6 months, I would rather withdraw the money from the ATMs with my US check card and pay the u$s 5 everytime.
To open an account they also ask for proof of residency, a bill of electricity, gas or water on your name or a lease contract.
What ends up being cheaper? I think its just a little bit more expensive to use the foreign debit card but its hassle free! you dont need to cope with the local banks (I am argentine and I hate going to my bank). regards.