What is the situation with exchange rate on ATM's in Argentina after lifting peso regulations?

#1

Hello folks,
I wanted to know what is the situation with exchange rate in Argentina after deregulation? Has taking out money from ATM became reasonable?
I am considering Cordoba as one of the next locations to work from, but I do not want to deal with the shady black exchange markets.
Thanks :slight_smile:

#2

Sure, the spread is much smaller. The blue market is mostly for money launders now :wink:

#3

I’m in Buenos Aires. Getting money from the ATM is easy. That said, only some ATMs take my card and I can only withdraw up to 2400 pesos per transaction with a max of two transactions per day. I think the ATM fees are high at around 84 pesos (it varies) if I want to withdraw 2200 pesos, but I use Charles Schwab because they refund me all the fees.

#4

@sfomadeze @yako Thanks guys, this is helpful. @sfomadeze Can you expand a little bit on “Charles Schwab” what it is and how it works? Is that just a bank that has favourable terms? That can be helpful to have all ATM fees refunded :slight_smile:

#5

Yep, Charles Schwab is a bank. Here’s info about their no ATM-fee checking account: http://www.schwab.com/public/schwab/banking_lending/checking_account

#6

Open an investment checking account with Charles Schwab. They refund ALL ATM fees and convert at the current exchange rate with no conversion fees… Most ATMs recognize Schwab cards for at least 2 million VND here in Da Nang. My statement shows returned ATM fees and the withdrawal in USD (2 million VND = US$92.26. No minimum deposits required. It’s the best banking deal on the planet.

Jim Robinson
Da Nang