Banking & Money in Argentina
Navigate Argentina's unique financial landscape. Understanding the blue dollar, transferring money, and managing your finances as an expat.
Understanding the Blue Dollar
Argentina has multiple exchange rates, which can be confusing for newcomers. The "blue dollar" (dólar blue) is the unofficial exchange rate for USD cash, typically 30-50% higher than the official rate.
The government-set rate. You'll get this at banks and ATMs. Not recommended for exchanging money.
The unofficial market rate. Access through Western Union, exchange houses (cuevas), or crypto. Much better for your USD.
Important: Always check current rates before exchanging. The gap between official and blue rates changes constantly. Use sites like Blue Dollar.net or ask in expat groups for current rates.
Transferring Money to Argentina
- Best exchange rates
- Widely available
- No recipient account needed
- Fees can be high
- Pickup location required
- Excellent rates
- Fast
- Low fees
- Requires technical knowledge
- Regulatory uncertainty
- Low fees
- Transparent
- Fast
- Official rate only
- Recipient needs account
- Blue rate
- Immediate cash
- No paperwork
- Safety concerns
- Need trusted exchange
Opening a Bank Account
While not strictly necessary for all expats, a local bank account makes paying rent, utilities, and receiving transfers much easier.
Major Banks
| Bank | Type | Notes |
|---|---|---|
| Banco Galicia | Major Private | Good online banking, expat-friendly |
| Banco Santander Río | Major Private | International connections |
| Banco Macro | Major Private | Wide branch network |
| BBVA Argentina | Major Private | Strong digital platform |
| Banco Nación | Public | Government bank, sometimes required for certain procedures |
Required Documents
- Valid passport
- Argentine DNI (if you have residency) or proof of address
- Proof of income or employment
- CDI (Clave de Identificación) - tax ID number
- Sometimes a local reference or guarantee
Essential Money Tips
- Bring USD cash for initial expenses - you'll get much better rates exchanging cash
- Open a local bank account for paying utilities and rent
- Get a local debit card for everyday purchases
- Credit cards are less widely accepted than in US/Europe
- Always carry some cash - many places don't accept cards
- Use Western Union for regular transfers to access better rates
Ready to Move?
Get our complete moving checklist and cost calculator to plan your finances before arriving in Argentina.