There are no general guidelines for opening a bank account in Argentina. Every bank appears to have its own requirements for opening an account, besides the basics of a valid passport. Opening a savings account (cuenta de ahorros) or checking account (cuenta corriente) also affects what documents are required. The best advice is contact the bank directly before making a trip.
In Argentina bank accounts can be opened in Argentina pesos (AR$) and in US Dollars (US$). The costs of these accounts usually vary. A checking account is used for daily payments, whereas a savings account is used to save money. Banks keep traditional "banker's hours" and are typically open on weekdays from 10 a.m. until 3 p.m.
Banco La Nacion has the following requirements for foreigners to open an account:
- Original identification and a copy
- Proof of domicile (gas bill, telephone bill, etc.)
- Your CUIL ( Código Único de Identificación Laboral)/ CUIT ( Código Único de Identificación Tributaria) / CDI (Carnet de Identidad)
- Initial deposit. To open an account in pesos, this should be at least AR$10. For a dollar account, the initial deposit is US$ 500.
- Annual maintenance costs of the account are AR$ 6 for a peso account, and US$ 2 for a dollar account. The costs include a Maestro debit card.
You can find ATMs throughout the city. The most common are those that are part of the Banelco network and are identified by a burgundy sign. They can be found at banks, service stations, and malls.
Buenos Aires Banks
- American Express (Arenales 707, El Centro. 11/4310-3000).
- Banco Piano (San MartÃn 345, El Centro. 11/4394-2463).
- BankBoston (Florida 99, El Centro. 11/4820-2000).
- Cambio America (Sarmiento 501, El Centro. 11/4393-0054).
- Citibank (Florida 199, El Centro. 11/4329-1000).
- Forex Cambio (M. T. de Alvear 540, El Centro. 11/4010-2000).
- HSBC Republic (Florida 201, El Centro. 11/4320-2800).
- Western Union (J. L. Borges 2472, Palermo. 11/4777-1940)
Useful Addresses
Update 29/05/2009
Keep more of your money when transferring funds overseas!
If you want to move money abroad, from Argentina or to Argentina for example, Fexco provides efficient and secure global bank to bank transfers and bespoke payment solutions for both business and personal clients.
Why Fexco
Fexco provides a secure international money transfer service online or by telephone with bank beating fx rates and low fees. Specialises in high-value transfers.
Main characteristics
Fexco will help you to keep your overseas money transfer costs to a minimum.
| Margin | 0.6% |
|---|---|
| Regulator | FCA |
| Fee | £10 < £5K or Free > £5k |
| Mini | £1K |
| Ccy | All (130 currencies, incl ‘exotics’) |
| Services | Repatriation of funds, Property, Regular payments, High Value payments, spot, online, telephone. |
Get an online quote today
When you are ready to make your transfer, John and his team will be available to help you with better rates and an unrivalled service to make sure your funds are delivered securely and speedily.