Buenos Aires Travel Forum

Hello all VTs! I'm moving to Argentina for almost a year (I'm sooo excited!) and need to know which bank should I open an account with. I remember what happened few years ago so I'm kind of cautious about having my money in the banks there. But I still need one to keep at least enough money for basic needs, so which one would be the most reliable one? Also since I'll be paid in $Dollars while living there, where can I get the best exchange rates to exchange my money into ARS (and if it's at the banks then which one)?
Thank you very much for your help!

Banco Nacion
Banco Frances
Banco Santander

Banks do not give a good exchange to their customers, go to Banco Piano along San Martin Street (between Corrientes Av. and Sarmiento Street, in downtown). It is a very safe and reliable place to buy and sell foreign money.

the best international bank for there is the beforemention banco santander, or the English HSBC.
http://www.hsbc.com/1/2/about-hsbc/international-network/americas/argentina

it is well represented there,see link above. I have used them as earlyas last summer for BRazil and Argentina whre my business took me.

First of all you will need a DNI number in order to open a bank account. There are a couple of banks that might let you open an account without one but legally you are supposed to have one. If your employer has not begun the process for you then you might have a rather long wait since the application process can be rather lengthy. Since your profile is not filed out not sure where you are coming from but you might be wise to find a bank from your resident country that also operates in Argentina and speak with them directly about opening accounts in Argentina. You also might consult your employer for a recommendation since you might receive more favorable treatment if you deal with your employers bank.

Argentinians do tend to distrust the banking system since the government has treated them like their own private piggy banks from time to time in the past. In the most recent financial crisis when the peso and dollar were at a 1:1 conversion, the government seized all the dollar accounts and then converted them to peso accounts at the new devalued exchange rate.

suerte
SAM

Thank you very much guys for your help, I'll check those out as soon as I'm there. One only thing that bothers me is that what Sam Porteno said about the DNI number needed to open an account. Well, I'm self employed and my work is done all through the internet, so I'm not going to work there but rather to just live there as a tourist. Can a tourist open a bank account without the DNI and if yes then with which banks?

Also I just stumbled upon an article about safety in BA saying that there is a lot of "Express Kidnappings" in the City and generally people are afraid of going out at night. Is it really a big problem there or will I be able to enjoy my stay there only by myself as well as the nightlife?

First of all not sure where you read an article about "express kidnappings" but in general you will find Buenos Aires as safe or safer than most North American or European cities. And I am from the US so I know of what I speak :). Just using the same common sense you would in Chicago or London will avoid most problems. Don't flash cash or expensive jewelry, walk alone down dark streets drunk at night, etc. As for the bank accounts, you may have a problem there.
Here is a link to a very good web site about relocating to Argentina. It has lots of other very helpful advice as well as opening bank accounts. Here is the main link for the bank query
http://www.argentina-info.net/relocating_and_living_in_argen3.html#BankAccountsHowtoOpenOne

You will have to copy and paste the above to your browser but you should find your answers there. If you are doing all your work off shore why not have them make payment directly to an online bank such as ETrade which does not charge ATM fees? Or Citibank or HSBC which has offices in Buenos Aires? Seems it might be easier than transferring money into the country and trying to dealing with the banking system here.

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SAM

It's good to hear that BA is actually a safe city.

Thanks for all your help SAM! I also must add that you're doing a stellar job on this forum!

Thank you very much for your kind words and most happy to be of assistance. Have you actually found somewhere to live yet? Or still exploring the options?

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SAM

I actually arrived to BA today. I found an apt. on Craigslist couple of weeks ago and I booked it by sending a deposit. Unfortunately when I arrived at the address of the apt. I found out that it was a non-existed apt. The lady living there told me nobody called Marina (the apt "owner") lives there and that she doesn't rent any rooms. I called the number that was given to me through the email and it was some other lady that said it must be a wrong number...

I guess I fell for ol' good scam and I was a little naive (or maybe not since I refused to send the whole requested deposit and gave her/him only a quarter of it).
But needless to say I have no apt. to stay and any advise on how to find one for reasonable price would be appreciated.

Thanks.

ay ay ay Craigslist!
send me your info by email and i will see what i can do. which area by the way are you looking for?
Mac

OH yes and welcome to Buenos Aires, sorry for your introduction to the city. You can trust Mac, the previous post he is a member of the "gente bien" and well respected (mostly :) )

Reynolds is one of the oldest rental agencies in the city and if Mac cannot be of immediate assistance you might try them for a short term rental

http://www.reynoldspropiedades.com/search_results/?property_type=2&min_price=0&max_price=0&moneda=1&;query=&zonassel=1&extra_params=1&where=props&web_section=6

Hope the rest of your trip goes better than your first day.

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SAM

A couple of other recommendations to make your entry into Buenos Aires a bit more pleasant this is the link to IMHO the best wine merchant in the city and he does speak fluent English, Alex at http://www.terroir.com.ar/e_home_.htm
He also has a wealth of information of where to go, eat etc. Almost as nice as Mac :)

Another good rental agency is
http://vacationrentalargentina.com/index.php?option=com_content&view=frontpage&Itemid=1&lang=en
The owner is a friend of mine, Facundo Yebne and his sister operates the office in Buenos Aires. Call them at 5368 1717 and see what they might have available. Or email Facu directly at facu@vacationrentalargentina.com and tell him you were referred by me and explain your situation, he might take pity and give you a good deal :)

Not sure where you are currently staying or your budget but a fairly inexpensive, well located place is the Recoleta Guest House on Laprida at French.
http://www.recoletaguesthouse.com/indexengl.htm
Nothing fancy but safe and secure and pretty central to the city.

As for the Craig's List rip off you should file a complaint with the tourism office (Mac should be able to point you in the right direction) as well as with Craig's List.

Suerte
SAM

Thank you very much guys for your help! I'll check all this places you recommended Sam. I have also sent you Mac an email with my info so any further help would be really appreciated.

Well, whatever happened won't change my opinion that BA is an amazing place to live (just the second day today and I'm already seeing myself staying here longer than I planned...;) )

And with the CL scam I heard it happens everywhere. I told the story to one of my friends in L.A. (where I come from) and he told me the same thing happened to him about a month ago, in his own city!. You probably think how's that possible so this is the story:

He needed to move from his apt. so he found on CL a beautiful condo in a great area in L.A. (for a great price). He contacted the people and the "married couple" said they moved to Europe and they wanted to rent their condo to someone for cheaper price so he could take care of it while they're away. When he called them (yes, he actually spoke to some nice lady) and asked if he could see it she said that since they live far away they can't come to show him the apt. And because their afraid to send their condo's key's to someone they don't know they asked for a security deposit. To get this great deal he was about to send $2,000 deposit. Fortunately he showed the building to his co-worker who has seen the apts. inside that building and said that there is no condos inside.

Well, saved by his friend he told the story to his friend who in exchange told him it happened to her friend, also in her city (but unfortunately she's lost the money).

After those stories I don't feel that silly anymore...