Banking Are Currency Exchange Houses (Cuevas) safe to use for exchanging money?

[Calgary Foodie]

I've received information from tour operators suggesting that using street exchanges or money exchange houses might not be safe due to recent governmental actions post-election. It seems the new administration is clamping down on unauthorized cash exchanges. If this is accurate, what would be the most secure way to convert US dollars to Argentine Pesos? Alternatively, is it advisable to rely on a credit card and its MEP rate, which currently appears to be half of the current Blue Dollar rate for Visa?

 

[Canada Goose]

I've been here the past few weeks. You are WAY over thinking this issue. Stop stressing about this matter. Currency exchange places are everywhere and no worries about exchanging. I overstressed this along with many other things including safety. This feels safer than any European city and nicer than almost any USA city.

I brought way too much cash. I over stressed but I'm using my credit card at most places except for taxis and small stores. All restaurants take credit cards and the MEP rate is very good without the hassles of having to deal with exchanging cash. I will have tons of cash left over from my trip.

The only thing I'm mostly using cash is for tips at restaurants as most don't allow you to leave the tip with cash. But I'm finding more and more are adding the tip on if I ask them or tell them I don't have many pesos. I hope the servers are actually getting this money and not the owners.

 

[Calgary Foodie]

Thanks for taking the time to post. A fellow Canada native to boot. I was wondering more about the rate I would get. MEP on credit card looks to be a lot less than the Blue Dollar rate. Or am I reading this wrong? https://www.ambito.com/contenidos/dolar.html

 

[earlyretirement]

Thanks for taking the time to post. A fellow Canada native to boot. I was wondering more about the rate I would get. MEP on credit card looks to be a lot less than the Blue Dollar rate. Or am I reading this wrong? https://www.ambito.com/contenidos/dolar.html

Calgary Foodie,

Stop stressing about this. I know it's confusing but the rate is so little of a #. Travelers are stressing too much over it. This morning the blue dollar rate was 895 pesos to $1 US. The MEP rate was 859 pesos to $1 US

So let's assume you're paying a 50,000 peso bill. If you exchanged cash at a money exchange place (cueva) you would $55.86 US dollars. If you paid with your credit card it would have cost you $58.20 US dollars.

You MUST put a value on your time going to exchange it, taking taxi/Uber there, risk of something happening to the cash. You definitely WILL need to change for some cash. So no argument there but you're not actually saving that much. Tourists worry too much about trying to save a buck here or there. Just enjoy your vacation.

Also, the new President hasn't even started yet. Javier Milei starts on December 10. I'm so happy that he won!

 

[Calgary Foodie]

Calgary Foodie,

Stop stressing about this. I know it's confusing but the rate is so little of a #. Travelers are stressing too much over it. This morning the blue dollar rate was 895 pesos to $1 US. The MEP rate was 859 pesos to $1 US

So let's assume you're paying a 50,000 peso bill. If you exchanged cash at a money exchange place (cueva) you would $55.86 US dollars. If you paid with your credit card it would have cost you $58.20 US dollars.

You MUST put a value on your time going to exchange it, taking taxi/Uber there, risk of something happening to the cash. You definitely WILL need to change for some cash. So no argument there but you're not actually saving that much. Tourists worry too much about trying to save a buck here or there. Just enjoy your vacation.

Also, the new President hasn't even started yet. Javier Milei starts on December 10. I'm so happy that he won!

OK thanks for putting my mind at ease. I didn't know there was so little difference. People make it sound like it will be a bigger difference. I will use my credit card more. I will still bring some cash. Thank you for all of this helpful information. This is a great forum. You all are so friendly.

 

[Che Vos]

No need to worry about exchange houses. They are ALL operating and functioning same as always. If anything, with the new president it will get easier NOT more difficult to exchange money. There is nothing unsafe about it. True you have the risk of someone following you but I haven't heard of issues with this.

Some stores don't take credit cards and in taxis so you WILL need to bring some cash but all good advice above not to stress about it.

 

[StatusNomadicus]

I will have tons of cash left over from my trip.

if you're still around, i'll Zelle/CashApp/PayPal/ACH/Bitcoin you for some $100 bills, if it benefits you not carrying them, and lets me get some goddamn US bills for once in this city!

 

[Canada Goose]

if you're still around, i'll Zelle/CashApp/PayPal/ACH/Bitcoin you for some $100 bills, if it benefits you not carrying them, and lets me get some goddamn US bills for once in this city!

Thanks brother! I just left last night. I wanted to stay another week but I had to get back to get my townhouse ready for selling it. I didn't expect to sell it so quickly. My realtor friend did a pocket listing and sold it in 3 days! I guess proof positive you don't really need realtors these days. They sell themselves if they are in a good area.

I'm cashing out now while the getting is good! I used all my cash still. I had to pay realtor's fees on my property I purchased so I used it towards that. Yes, I found it a pain to get actual $100 US bills. Locals love them and hoard them!

 

[StatusNomadicus]

I used all my cash

good, way better than having to stress about flying back with it. i remember you said you thought you'd have way too much, so looks like it worked out. my USA house sold earlier this year for just over 550K USD and i bought it for about 250K in 2013, so you're making a good move getting out of the bubble (remember your stocks/retirement stuff is about to drop a ton, too, if you haven't hedged that). i bought a travel trailer and live in it in the USA, waiting to snag some cheap land once the Great Recession 2.0 hits

i hate realtors and Title Companies and the whole thing. such a scam (and North Americans trick ourselves into thinking South America has all the corruption, lol)

ever look into Eastern Europe as another place to be an Expat, for the colder/rainier months of Buenos Aires? i was looking hard into Czech Republic last year. now Slovakia and Hungary are appealing for political reasons.

 

[Nasdaq]

good, way better than having to stress about flying back with it. i remember you said you thought you'd have way too much, so looks like it worked out. my USA house sold earlier this year for just over 550K USD and i bought it for about 250K in 2013, so you're making a good move getting out of the bubble (remember your stocks/retirement stuff is about to drop a ton, too, if you haven't hedged that). i bought a travel trailer and live in it in the USA, waiting to snag some cheap land once the Great Recession 2.0 hits

i hate realtors and Title Companies and the whole thing. such a scam (and North Americans trick ourselves into thinking South America has all the corruption, lol)

ever look into Eastern Europe as another place to be an Expat, for the colder/rainier months of Buenos Aires? i was looking hard into Czech Republic last year. now Slovakia and Hungary are appealing for political reasons.

Congrats! Real estate over the long haul typically does well. I have purchased a few places and I have never lost money but I don't buy to flip. I had some friends buy to flip during the last crash in USA and got crushed but they were totally over leveraged and shouldn't have been buying in the first place. Now banks make you put a sizeable deposit but back then nope.

Where do you store your trailer @StatusNomadicus ? I had an RV for a few years. Was fun traveling around the USA in my RV during COVID.

 

[StatusNomadicus]

Slovakia

and of course, the ForeverWar mongers are up to no good, again

Slovak PM Robert Fico Expected To Survive; UK Media Appears To Justify Assassination Attempt | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

store your trailer

my girlfriend still has a rental property in the Midwest, so it's winterized while i'm in Argentina. you were one of the smart ones during the lockdowns @Nasdaq - i was in denial that it would last that long, so i was still working as a cop full-time until i started making my USA exit plan. the Travel Trailer life isn't as glorious as it seems, but it was a good learning experience, and fun to see how much Boondocking is possible. i would love to teleport my pickup and camper here for some Patagonia off-the-grid roadtrips, but the cost would be immense, and gas is just as expensive here. plus, i almost never see travel trailers, so i would stick-out really bad

 

[Nasdaq]

and of course, the ForeverWar mongers are up to no good, again

Slovak PM Robert Fico Expected To Survive; UK Media Appears To Justify Assassination Attempt | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

my girlfriend still has a rental property in the Midwest, so it's winterized while i'm in Argentina. you were one of the smart ones during the lockdowns @Nasdaq - i was in denial that it would last that long, so i was still working as a cop full-time until i started making my USA exit plan. the Travel Trailer life isn't as glorious as it seems, but it was a good learning experience, and fun to see how much Boondocking is possible. i would love to teleport my pickup and camper here for some Patagonia off-the-grid roadtrips, but the cost would be immense, and gas is just as expensive here. plus, i almost never see travel trailers, so i would stick-out really bad

I just look at what is going on globally and think there will be all sorts of conflicts in the future. Things are escalating and not getting better. I see what is going on with the EU and all the migrants being shoved down everyone's throats and the same thing is happening in the USA to an extent. There is some reason why the govenment is bringing in all these illegal immigrants. It is all quite strange.

I enjoyed traveling around with my RV but I sold it. Argentina is a beautiful country. Not sure if you have made it down to Patagonia and Bariloche but it is beautiful. Good fishing and hunting in Argentina as well.