Some friends have arrived from Canada recently, and I have been showing them the ropes. Since this is my third time here, I have given some training to a few newbies. I find it funny how people will not believe you when they ask a question on how to do something, you give the answer on how it is, and they don´t believe you and say "But in 'fill in the blank here with the appropriate 1st world country' you can do it this way." and then I say "This isn´t 'fill in the blank here with the appropriate 1st world country' this is Argentina. Welcome to Argentina my friend!
Today my friends, we will focus on banking, in particular converting Euros or US funds (don´t even think converting any other type of currency) into pesos at a Bank. Yes, banks here will exchange Euros or US currency, but only if you are a member of the bank. Really this is true. Believe me, the first time I was here, I learned lesson. Even this third time, ex-novio who is Argentine, didn´t even believe me, and made us go to 4 banks and waste an hour or more, when I was insisting we just go to the Casa de Cambio.
This is how the scene will play out: Enter bank, stand in line...wait...wait...wait, ah it´s our turn.
Tourist:"Hola, por favor, quiero cambio US dollars for pesos."
Teller: "en el primero piso."
Get into elevator or climb a couple of flights of stairs. Stand in line, or grab a number and sit....wait...wait...wait...
Tourist: "Buenos tardes, quiero cambio dollar por pesos por favor."
Teller Number Two: very quickly in incoherent spanish they say...Are you a client? Sorry you can not exchange here. Try the next bank next door.
Tourist: Gracías. Leaves bank with a slight hope and repeats the process many times.
or another outcome might be if you have a helpful teller:
Teller Number Two: Sorry we can not change your currency to pesos, you need to go to the Casa de Cambio.
Tourist: ¿Dondé?
Teller Number Two: Circa calle Florida.
Tourist: ¡Gracías!
Teller Number Two: No, por nada.
So just save yourself the hassle, and go to the Casa de Cambio to exchange your Euros, US or most anyother foreign currency. Unless of course you just really need to have the above experience for yourself.
ps: bank cards work just as well too, but they also have their own story...
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I heard that for taking out money with a bank card, your best bet would be to go to Citibank - is that true?
My experience with ATMs, is that all banks seem to give a fair rate of exchange.
My bank HSBC only charges me $3 cdn, per withdrawl, regardless of which bank I use.
Sometimes for whatever reason, the same ATM that you withdrew for example 1100 pesos, won´t let you take out more than 500. It´s really weird but again, welcome to Argentina my friend!
"ex-novio who is Argentine" ... hmmm ¡
Qué paso con tu entrada "sin titulo" ??
I actually managed to change money at a bank once, at the bottom of Florida street, where all the tour buses drop you off. They let me in, but they took one look at the guy behind me, who was black, and didn't let him in the bank! He was dressed like a gangter, though...
Congratulations on doing the impossible. One day just for ´fun´ I should try and see what happens when I go to HSBC, since I bank with them in Canada.
I have never had any trouble changing money at a bank, but perhaps I have only gone to banks that clearly offer money exchange services (eg, CitiBank on Santa Fe). You have to show some sort of identification, such as a passport. But an exchange house gives a better rate than a bank, so I would recommend going there anyway. I think the best one is Banex. The smaller branches (in Caballito, Palermo, etc.) seem safer than the one in the pickpocket-rich area of Florida.
Concerning ATMs, I gave up trying to get much money from commercial banks. The only two banks with ATMs that reliably give large amounts are Banco de la Nacion Argentina and Banco Ciudad. Otherwise you wind up taking tiny amounts out over and over again, and paying banking fees for each withdrawal. Banco Ciudad can reliably give the equivalent of US $500, which is the daily limit that many ATM cards have.
That is most excellent information Barbara. My limit is lowish, so I never get more than 1200 or so at a time, but this is what I was trying to accomplish. Living on an Argentine budget. Unfortunately, I am not an Argentine budget girl:(
Just read your blog on exchanging money in Argentina. I had the same experience in California USA.
Keep in mind USA is considered a developed country!
I imagine you were trying to exchange a foreign currency? I am sure anything but US dollars is considered Monopoly money.
In Canada for instance it is easy to change Euros or US dollars at any bank, and you do not have to be a client of the bank. To exchange or buy anything else, generally you have to go to the bank's main branch. Or else visit a cambio.
The main part of this story is, how your guests will not believe you that this is the way it is, and insist on trying the way it is back home. When if they did it your way, we could save ourselves an hour or two, doing it the way I suggested the first time.
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