Lowest fee ATMs in Argentina?
With the dollar blue rate largely now matching the official rate, are there any ATMs in Argentina that do not charge excessive fees on foreign cards?
Which Argentine banks do not charge any fees for ATMs and what is the maximum limit for those banks? Is there another strategy that can be used?
As of January 2017 Most ATMs are charging 90 ARS ($5.6 USD) and limiting the withdrawal to 2000 ARS at a time, which is effectively a 5% tax on all cash purchases that you make in the country.
Best Answer
This is the way that I dealt with the problem:
- Make good use of any free ATMs while you can: Make use of any ATM networks that may be specific to your bank. In my case (as an Australian) I was able to use an Australian Citibank Plus Visa Debit card in a Citibank ATM in Buenos Aires and not pay any fees. Try to work out how much cash you will need for the trip and load up while you have access to cheaper (i.e. fee free) ATMs. Many banks are members of "global ATM alliances" so it is worth checking with your bank to see if they are a part of one.
- Obtain a credit card that does not charge any fees for foreign currency purchases and use it for every purchase that you possibly can - regardless of how small. Supermarkets, some cafes, some restaurants and some tours will accept this. Perhaps 30%-50% of your spend can be covered by this. In my case (Australian) the 28 degrees MasterCard is perfect for this.
- Whenever you use an ATM, withdraw the maximum: The "better" ATMs would limit you to 2x2000 ARS transactions per day Per card. Because I had a joint account with my wife (2 different card numbers linked to the same account) we could double up and get 4x2000 ARS transactions per day per ATM.
- Avoid ATMs that have a low maximum withdrawal: Some ATMs have a maximum withdrawal as low as 1500ARS and some go as high as 2500ARS. A 90ARS fee on a 1500ARS withdrawal is a 6% fee.
My hostel also suggested using azimo to send money to a local pickup location although we were unable to try this as we were already away from those locations when it was suggested. I have also seen Xoom suggested which I was unable to test and finally supermarkets seem to do cash out at the till but this may be for Argentine accounts only.
For those who already hold USD in cash, taking your USD to Argentina and exchanging it for ARS at a Cambio is apparently a good option as well. As a holder of AUD I didn't fit into this category.
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What ATMs charge the lowest fees?
Capital One ATM fees were the cheapest ATM fees of the banks surveyed as it's one of the banks that don't charge any ATM fees for using non-network ATMs. Union Bank, Frost Bank, and Iberia Bank all charged $2 per withdrawal for non-network ATMs in the United States, and all other banks charged at least $2.50.Which banks do not charge ATM fees?
The 7 Best Checking Accounts With No ATM Fees in 2022- Best Overall: Axos Bank.
- Best Interest Rate: Paramount Bank.
- Best for International ATMs: Needham Bank.
- Best for Debit Card Users: LendingClub.
- Best From a Credit Union: Alliant Credit Union.
- Best for Low Fees From a Big Bank: Ally Bank.
- Best for Overdrafts: Discover Bank.
How do I avoid international ATM fees?
Many international travelers encounter foreign transaction fees while making purchases or withdrawing cash from an ATM in a foreign country. The easiest way to avoid a foreign transaction fee is to use a debit or credit card that waives foreign transaction fees while traveling abroad.Can you use ATMs in Argentina?
There are two banking systems in Argentina; Banelco and Link. Most foreign debit and credit cards work with the Banelco system so try the HSBC, Galicia, Banco Frances and other banks that utilize Banelco. ATM fees are pricey in Argentina averaging out at approximately $6 USD $11 USD per transaction (Dec 2018).FIRST TIME IN ARGENTINA - No Cash at ATMS?
More answers regarding lowest fee ATMs in Argentina?
Answer 2
It seems like all ATMs in Argentina are charging the crazy fees, and the linked site notes that your best bet is to get a credit/debit card in your home country that doesn't charge/refunds international fees.
The author also notes that they were charged considerably more at ATMs outside of Buenos Aires, so at the very least you'll want to consider drawing more cash in Buenos Aires before you leave the city.
An alternative way to obtain cash it is to exchange with fellow travellers at hostels, everyone's usually keen if it works out for them, and you all win.
Answer 3
I have just spent few months living in Buenos Aires. Researched the topic of ATM withdrawals and money exchange, and can confirm the following findings.
The smallest ATM fee is at Banco De La Nacion. It's around 230 ARG (or 5 USD). All other banks charge 10 USD or more.
Max withdrawal limit: Up to 4000 ARG
Also, Banco De La Nacion seems to be the best place where you can exchange your foreign cash. Just don't forget your passport.
Updated information here.
Sources: Stack Exchange - This article follows the attribution requirements of Stack Exchange and is licensed under CC BY-SA 3.0.
Images: Karolina Grabowska, Karolina Grabowska, cottonbro, Rachel Claire