Economy Dolar turista - does it work for ATM withdrawals?

[PixelArt]

Hi! Does anyone know if the dolar turista applies when you are making ATM withdrawals from a U.S. bank account? I am not sure if it applies only to card purchases.

Context: I'm moving to Argentina in a few weeks and have been gathering information about how to best make cash withdrawals from my U.S. bank account while there. I have set up a Schwab checking account (for fee-free transactions) and a Western Union account (so I can transfer money to myself) but it would be great if I could walk into any bank's ATM and withdraw at the turista rate.

Also - if anyone has any other tips/best practices for accessing funds in U.S. bank accounts, please let me know!

Thanks!

 

[PhilipDM]

Hi! Does anyone know if the dolar turista applies when you are making ATM withdrawals from a U.S. bank account? I am not sure if it applies only to card purchases.

Context: I'm moving to Argentina in a few weeks and have been gathering information about how to best make cash withdrawals from my U.S. bank account while there. I have set up a Schwab checking account (for fee-free transactions) and a Western Union account (so I can transfer money to myself) but it would be great if I could walk into any bank's ATM and withdraw at the turista rate.

Also - if anyone has any other tips/best practices for accessing funds in U.S. bank accounts, please let me know!

Thanks!

You will get the official rate at any ATM. And a huge fee for using a foreign card. If you get an Argentine debit card, you will get the official rate minus the fee. With a withdrawal limit. If you got blue rate pesos from Western Union, you could deposit those into your Argentine bank account.

 

[RobertoBet]

I've been getting the Dólar Tarjeta rate at ATMs (https://www.lanacion.com.ar/tema/dolar-tarjeta-tid50462/), so not *quite* at the Blue rate but not far off. I'm not sure if it depends what type of foreign debit card it is? I also have a Schwab bank account, so presumably it will be the same for you.

 

[PixelArt]

I've been getting the Dólar Tarjeta rate at ATMs (https://www.lanacion.com.ar/tema/dolar-tarjeta-tid50462/), so not *quite* at the Blue rate but not far off. I'm not sure if it depends what type of foreign debit card it is? I also have a Schwab bank account, so presumably it will be the same for you.

Yeah, it would be Schwab. Do you withdraw cash at one particular bank or do you use multiple? I mean brands, not various locations of one brand.

 

[RobertoBet]

I don't always use the same brand, and haven't noticed any of them using a different rate.

 

[PixelArt]

I don't always use the same brand, and haven't noticed any of them using a different rate.

Awesome, thank you so much for the info.

 

[RobertoBet]

FWIW, as an update/caveat, I withdrew at HSBC for the first time yesterday and only got something near the oficial rate, so I suppose there's always an exception.

 

[PixelArt]

FWIW, as an update/caveat, I withdrew at HSBC for the first time yesterday and only got something near the oficial rate, so I suppose there's always an exception.

Weird! Thanks for the updat.

 

[earlyretirement]

FWIW, as an update/caveat, I withdrew at HSBC for the first time yesterday and only got something near the oficial rate, so I suppose there's always an exception.

Did you inquire with anyone about this? I've not heard of anyone getting the Dolar Tarjeta rate for ATM withdrawals. That's amazing to hear. Although it would be a major bummer to withdraw and only get the official rate as you mentioned. Keep us posted if it gets updated later.

By the way, what are the ATM's charging these days for cash withdrawals? The surcharge fee?
I think if I found an ATM that worked at the better exchange rate, I'd stick to that same ATM! Ha, ha.

 

[RobertoBet]

I didn't bother to inquire, I just won't go back to HSBC. At a Link ATM at Banco de la Nación on Tuesday my rate was about 343 to the dollar with the ATM fee factored in. I think the surcharge fee was something like 1.500, but I wasn't paying that close attention.

 

[FrankPintos]

I didn't bother to inquire, I just won't go back to HSBC. At a Link ATM at Banco de la Nación on Tuesday my rate was about 343 to the dollar with the ATM fee factored in. I think the surcharge fee was something like 1.500, but I wasn't paying that close attention.

Link is used by Banco de la Nacion (which I've always found to be terrible), and Banco de la Ciudad, HSBC, ICBC,Itau, and most other banks use Banelco, maybe that's the reason for the difference in exchange rates? Banelco also charge double the fixed fee per transaction, and are notorious for refusing to disburse larger amounts (so your fee is a higher percentage of your withdrawal).

How much are you able to withdraw? When I last went to an ATM (not recently), it was 10k Pesos.

 

[RobertoBet]

I don't usually max it out, so I don't know, but maybe someone else can jump in to this conversation here.

 

[earlyretirement]

I don't usually max it out, so I don't know, but maybe someone else can jump in to this conversation here.

But how much are you typically withdrawing at a time when you withdraw? What's the most you have taken out at a time? Thanks in advance.