Changing money

Discussion in 'Argentina' started by skyvan, Feb 28, 2013.  |  Print Topic

  1. skyvan

    skyvan Gold Member

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    I've heard about the fact that there are effectively two markets, How should i go about converting my money?
    My normal currency conversion guy in the US doesn't touch Argentinian Currency and my trip will mostly be in Mendoza and BA, though I fly in to AEP, have a night stay, then fly out of AEP the next morning, necessitating money for cabs in BA.

    Any recommendations?
     
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  2. NYCUA1K

    NYCUA1K Gold Member

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    I almost always use ATMs that are universally found at all major (or even most minor) airports. Alternatively, you can convert money through your bank, although you may not be able to do this the day before you depart; Chase, at least, requires a few days for processing (but this may be necessary only for the small branches that are near where I live; bigger branches might be able to do it on the spot).
     
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  3. IDGflygirl
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    IDGflygirl Gold Member

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    Maybe you could PM someone on the Argentinian forums & ask for their advice. Things work differently in South America!;)
     
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  4. NYCUA1K

    NYCUA1K Gold Member

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    Good suggestion, but the past two years I have been to EZE (BA), often dubbed the Paris of Latin/South America, and things work pretty much as they do further north, complete with gypsy cabs, which one must watch out for because they would charge 2x-4x the rate of "official" taxis...
     
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  5. IDGflygirl
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    IDGflygirl Gold Member

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    I have lived in South America & have visited BA several times!;)
     
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  6. NYCUA1K

    NYCUA1K Gold Member

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    And you feel that money-changing and things like that at the airport are really that "different"?
     
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  7. IDGflygirl
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    IDGflygirl Gold Member

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    They can be!
     
  8. NYCUA1K

    NYCUA1K Gold Member

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    Can't debate that!;)
     
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  9. Wandering Aramean
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    Wandering Aramean Gold Member

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    The thing about Argentina right now is that there are effectively two different currency markets. And while that is generally true in most countries the spread in Argentina right now is sufficient that it is tempting to deal with the risks to play the black market games.

    I don't know enough about the black market there to know if it is a safe game to play, but my guess is that picking up enough cash for cabs and dinner from an ATM on arrival and then trying to figure out the other bits would be the best play.
     
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  10. NYCUA1K

    NYCUA1K Gold Member

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    Agreed. Do the safe thing first, and then after getting oriented, one can experiment with different things...It is my usual MO, especially on a first visit.
     
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  11. skyvan

    skyvan Gold Member

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    Thanks for the advice guys, I guess I'll see about the black market currency exchange once in Mendoza since I'm seeing a friend who lives there, though since she's never been to BA I figured I'd ask here about that. Thanks again everyone.
     
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  12. MX

    MX Gold Member

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    Check this thread for some good tips -->
    http://milepoint.com/forums/threads/best-exchange-rates-and-earning-miles-strategy.44840/
     
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  13. Gaucho
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    Gaucho Gold Member

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    The dual exchange market thing is still alive and healthy, and it appears that it will continue for the time being..... there is plenty of information out there on how this works, and as with most things in life there are positives and potential negatives to playing this "game".

    For anybody wanting more details, feel free to PM or email me.
     
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  14. suenam

    suenam Silver Member

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  15. Gaucho
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    Gaucho Gold Member

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    Xoom continues to be an option for those based in the US or with a US Bank account. The rates are not as good as the cash rates for local trades but still a vast improvement over the credit card rate.
     
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  16. Gaucho
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    Gaucho Gold Member

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    Xoom has equivalent services available for UK based accounts, I need to dig up the name that was posted over on FT and will revert back to post.
     
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  17. bonnerbl
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    bonnerbl Gold Member

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    Because there is a huge problem in Argentina with counterfeit money I would be very Leary of getting cash from no official sources unless I was we'll versed in spotting the fakes. I was warned several times and still got taken 4 times by cab drivers. Major negative about Arg!
     
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  18. jbcarioca
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    jbcarioca Gold Member

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    A minor clarification. As others have pointed out elsewhere the current economic disarray in Argentina has vastly increased the advantage of the parallel (i.e. black) market exchange rates. Higher risk, of course. ATM's at EZE have themselves been prone to fraud, mostly skimming. Argentina forum has more details. That is fairly new, and Gaucho certainly knows more than anybody else i know on these fora a about such issues, as well as having great deals on wine.

    Other South America is a big subject. Brazil has no black market and ATM rates are as good as you'll get. There is also very little taxi ripoff in comparison with many other places. Chile also has no black market and ATM's have good rates, taxi's are reliable. In both of those countries few taxi drivers speak English, so you'll need Portuguese or Spanish to use the normal cabs easily. There are slightly more expensive options taht are easier. All bets are off in Venezuela and Bolivia.

    One major issue even for people who know Spanish and often navigate BA is the propensity of taxi drivers to invent non-existent problems and extract extra cash. Thus, I would pay careful attention to advice from locals there, not occasional visitors.
     
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  19. IDGflygirl
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    IDGflygirl Gold Member

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    Thanks for the valuable info. & insights!
     
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  20. jbcarioca
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    jbcarioca Gold Member

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    Trust me. Gaucho knows much, much more than do I.
     
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  21. NYCUA1K

    NYCUA1K Gold Member

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    Thanks for the clarification and the cautionary tales, which I must take into consideration since I will be flying to EZE in August (as soon as I have more time, I will start a thread to try to incite others into going BA around the same time). :)
     
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  22. jbcarioca
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    jbcarioca Gold Member

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    It is easy to convince me to go to BA, although I prefer to go in summer, between November and February. I'm allergic to cold weather. The typical August high is around 60F, which is quite frigid for tropical types.
     
  23. NYCUA1K

    NYCUA1K Gold Member

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    ;)
    I went to BA for the very first time precisely because of the slightly frigid weather in August. It is really not much of a winter at that time -- 60F is perfect for me.
     
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  24. Gaucho
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    Gaucho Gold Member

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    Getting fakes from ATM machines is a very very very rare occurrence. What happens most of the time is folks get good bills from the ATM machine, and then get into a Taxi and get the switcheroo done on them, and then they blame the ATM machine.

    I cannot go out and say that getting a bad bill from an ATM is impossible, but its highly unlikely. Banks have cameras that monitor all servicing of these machines, plus there are at least 2 (two) bank clerks doing the manipulation so they would all have to be on the action..... its very hard that all this would come together.

    If anybody is coming down to Argentina and has specific questions about currency, wine or food, please post on the Argentina Forum or feel free to PM me.

    Gaucho / Alex
     
  25. Gaucho
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    Gaucho Gold Member

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    Very sorry to hear about your experience.... there are indeed some bad apples driving Taxi's in EZE, its something that the city government needs to work on pronto.
     

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