Changing currencies vs withdrawing at ATMs in Argentina
My partner and I will be travelling to Argentina by the end of the year, spending two weeks in multiple locations, including Buenos Aires, El Calafate and Ushuaia. We have all accomodations booked and paid in advance, so we'll only need pesos for food and a few minor expenses.
I read many questions and articles related to bringing vs withdrawing money in the country, however most are from 2016 or earlier, and the local situation is evolving quickly as far as economy in general, and inflation in particular, are concerned. (current rate is 1 EUR <-> 41 ARS at the time this question was written).
We have several options, which one would have the lowest fees :
- withdraw pesos at local ATMs (are they still limited to ~$2500/day ?)
- pay all expenses with credit card (Visa)
- bring USD / EUR and change at cuevas
- set up a money transfer (Xoom or equivalent) before departing, pick it up on arrival
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Is it better to exchange currency or withdraw from ATM?
Using your debit card at an ATM is almost always a better option than using a money exchange service because you will get your cash with just a small international transaction fee (often not more than a couple of quarters) and avoid transaction fees and commissions entirely.How do I take money out of Argentina?
For getting local Argentine Pesos cash you have 2 main options: ATM withdrawal and money exchange.Can I withdraw money in a different currency?
What exchange rate do ATMs use? If you own a multi-currency debit card, then ATMs will use the real mid-market exchange rate and will charge you no hidden fees. If you withdraw with a foreign debit card, then ATMs will give you the option to exchange at the real mid-market rate or at a weaker rate.Can an ATM change currency?
A Currency Conversion at ATMs transaction begins immediately when a Visa or MasterCard is inserted at the ATM. The ATM automatically determines if the card is eligible for currency conversion. A Currency Conversion at ATMs transaction begins immediately when a Visa or MasterCard is inserted at the ATM.Using an ATM in Japan to Withdraw Money VS Exchanging Foreign Currency
Sources: Stack Exchange - This article follows the attribution requirements of Stack Exchange and is licensed under CC BY-SA 3.0.
Images: Ray Raimundo, Mati Mango, Mati Mango, David McBee