How are new expats and foreigners in Argentina handling daily payments in Buenos Aires without local bank account?

[LuckyLuke]

Hi everyone,

I’m currently based in Los Angeles and planning to spend 3 months in Buenos Aires soon. I'm trying to wrap my head around the day-to-day payment situation for foreigners and expats.

I know QR code payments are huge with locals for everyday purchases, but I’m curious how much of a hurdle it actually is if you don't have a local bank account.

For those living in BA or who have visited recently:

• Do you easily get by relying mostly on cash and international cards?
• How often do you find it frustrating not having access to local QR payment apps?
• Are there specific spots like cafés, taxis, kiosks, or smaller grocery stores where this is a constant issue?

I’d love to hear your real-world experiences. Is the lack of QR access a major annoyance, or no big deal in practice? @FuturoBA I believe I read you recently moved from the US to Buenos Aires. What are you using?

Thanks!

 

[earlyretirement]

Hi @LuckyLuke,

Welcome to Argentina. Foreign credit cards work fine in most places but just realize you will not get the best exchange rate. They take a spread that usually ends up being 6% less so it's cheaper to use a QR code. You can use Apps like Peanut that work great and offer great exchange rates. You can sign up at that link below. Then you can just transfer from a bank account (KYC required) or you can fund it with Crypto. You can deposit from a wallet or exchange. I use Coinbase and it works perfectly and instant. Then you can pay via QR code via Peanut.

I already have local bank accounts but I'm always beta testing different apps.

https://peanut.me/invite?code=SAINTBAINVITESYOU838

You typically need a DNI to open up a local bank account. Some have said they did with a CDI # but it's few and far between. You can research on the forum's search engine as it's very powerful. I recall a few threads. Maybe look up "opening bank account without DNI".


I'd recommend bringing a fair bit of cash down as well as it's easy to exchange. Or you can just use Western Union which gives a great rate usually. You will have to pay some fees to get the cash down but it's safer than carrying lots of cash.

Arq Dollar App is another app. I can't remember if you need a local ID or not but that also works well and it allows you to pay with QR or it has a virtual debit card as well you can use with Apple Pay.

If you need to transfer larger amounts feel free to DM me as I can help you easily get USD into Argentina.

 

[Digital Nomad]

I have heard good things about Peanut. I just used Western Union and it worked well. I also mostly used my American credit cards and didn't have any problems. Almost everywhere takes credit cards except taxis but my American credit card linked to my Uber worked fine. Cabify I had to have cash. My credit card wouldn't work with that. And remember the 10% tip at restaurants mostly don't allow you to pay on your card. A few places do but most ask for cash. So you always will need some cash.

 

[Johnny]

I just bring cash $100 new bills and exchange down there. Just be careful and make sure the bills are new and don't have any marks on them. I had a new bill and it had a stamp mark on it from the bank and they wouldn't accept it.

I also use my US credit card at dinners. A few places let me tip on my card but most don't. I didn't mess around with any apps or QR. Credit cards work fine. You might pay a little more but worth it for convenience.

 

[Bingo]

I use my Apple Pay with Revolut which works good. It's a French Fintech bank based in the UK and there are no foreign card fees and you can set it up online. It works great.

 

[jbeas176]

i have been traveling to argentina for 20 years. the first 8 i had a bank account because i owned property. HSBC closed the account because the usa was requiring alot of paperwork. i travel with cash and use my forgien cc for restaurants but be aware of the rate the bank converts at. it changes alot. lately its been reasonable. the blue rate usually gives you a nice cushion. cash is king. schuab usually reimburses the cc fees but not usually at the blue rate

 

[earlyretirement]

i have been traveling to argentina for 20 years. the first 8 i had a bank account because i owned property. HSBC closed the account because the usa was requiring alot of paperwork. i travel with cash and use my forgien cc for restaurants but be aware of the rate the bank converts at. it changes alot. lately its been reasonable. the blue rate usually gives you a nice cushion. cash is king. schuab usually reimburses the cc fees but not usually at the blue rate

You don't have a DNI @jbeas176? HSBC was good for many years until around COVID. Even with a DNI they froze my account and I had tens of thousands of dollars in it and couldn't do anything until after COVID. When I finally flew down to BA after the pandemic they were resistant to give my money back. I had to threaten bringing a news crew to the branch.

Although I have a local account I don't use it much besides paying bills. I don't trust the local banks. Peanut works very good. I also use Arq, Mercado Pago (but you need a DNI I think). There are a lot of options these days.

 

[jbeas176]

i keep the excess cash, passport and one of two cc’s in the safe. just carry what you need for the day and the other card.

 

[Larry]

i keep the excess cash, passport and one of two cc’s in the safe. just carry what you need for the day and the other card.

After all these years cash still works well. It has only been the past few years that there wasn't a big difference between blue and white but things will blow up before Milei finishes his term. Watch. It's only a matter of time. Macri 2.0.

 

[jbeas176]

early retirement that has been a problem for a long time. the rents usually cover the expenses. i have no desire to become a resident. i move around between usa, colombia, and argentina never longer the 2 months. i just go down and settle any differences in cash. i have a nice 1 bedroom in palermo. the french embassy has been a good client. switzerland, austria, portugal. i may use your service in the future. thanks for interest

 

[import export]

early retirement that has been a problem for a long time. the rents usually cover the expenses. i have no desire to become a resident. i move around between usa, colombia, and argentina never longer the 2 months. i just go down and settle any differences in cash. i have a nice 1 bedroom in palermo. the french embassy has been a good client. switzerland, austria, portugal. i may use your service in the future. thanks for interest

There are some big downsides with taxes although I doubt Argentina will ever enforce worldwide assets. All the politicians have their money outside of Argentina. I doubt they will tax it.

If you don't spend more than 3 months a year here you don't need any residency.

 

[jbeas176]

thanks import. everyones needs are different that has been my plan all along

 

[jbeas176]

i usually visit in jan so i can pay property taxes for the year.

 

[jbeas176]

life is easy if you play by the rules

 

[FuturoBA]

Hi everyone,

I’m currently based in Los Angeles and planning to spend 3 months in Buenos Aires soon. I'm trying to wrap my head around the day-to-day payment situation for foreigners and expats.

I know QR code payments are huge with locals for everyday purchases, but I’m curious how much of a hurdle it actually is if you don't have a local bank account.

For those living in BA or who have visited recently:

• Do you easily get by relying mostly on cash and international cards?
• How often do you find it frustrating not having access to local QR payment apps?
• Are there specific spots like cafés, taxis, kiosks, or smaller grocery stores where this is a constant issue?

I’d love to hear your real-world experiences. Is the lack of QR access a major annoyance, or no big deal in practice? @FuturoBA I believe I read you recently moved from the US to Buenos Aires. What are you using?

Thanks!

As everyone else said cash and credit work well. I use my Amazon cc as it doesn't have foreign transaction fees, you may want to check what you have. Cash, I mostly use western union(there's still exchange places where you can exchange USD if you so choose) more for tips and some places you get a cash discount. This varies but I've seen 10% or more.

I also recently used the peanut app and it uses the crypto dollar exchange I believe which right now is about 5% better https://dolarhoy.com/
Just be careful when signing up - don't make the mistake I made - I sent over solana tokens when it only takes USDT or USDC tokens when using crypto. My understanding is it uses the solana network but only takes the USDT/USDC tokens. Thankfully I was able to get my solana(SOL) credit back, so transfer a small amount first to make sure it works.

 

[James Bond]

i usually visit in jan so i can pay property taxes for the year.

Do you need to be there personally to pay your property taxes? Most just have their accountant do it.

As everyone else said cash and credit work well. I use my Amazon cc as it doesn't have foreign transaction fees, you may want to check what you have. Cash, I mostly use western union(there's still exchange places where you can exchange USD if you so choose) more for tips and some places you get a cash discount. This varies but I've seen 10% or more.

I also recently used the peanut app and it uses the crypto dollar exchange I believe which right now is about 5% better https://dolarhoy.com/
Just be careful when signing up - don't make the mistake I made - I sent over solana tokens when it only takes USDT or USDC tokens when using crypto. My understanding is it uses the solana network but only takes the USDT/USDC tokens. Thankfully I was able to get my solana(SOL) credit back, so transfer a small amount first to make sure it works.

You have to be careful. My friend used Peanut and sent on the wrong network. Supposedly you aren't supposed to get it back but he was able to. Be very careful using the correct network when using these kind of apps. A friend used a wrong network and his money was lost.

 

[lemonade]

As everyone else said cash and credit work well. I use my Amazon cc as it doesn't have foreign transaction fees, you may want to check what you have. Cash, I mostly use western union(there's still exchange places where you can exchange USD if you so choose) more for tips and some places you get a cash discount. This varies but I've seen 10% or more.

I also recently used the peanut app and it uses the crypto dollar exchange I believe which right now is about 5% better https://dolarhoy.com/
Just be careful when signing up - don't make the mistake I made - I sent over solana tokens when it only takes USDT or USDC tokens when using crypto. My understanding is it uses the solana network but only takes the USDT/USDC tokens. Thankfully I was able to get my solana(SOL) credit back, so transfer a small amount first to make sure it works.

I did the same thing Futuro but was able to click on some link on Peanut and they got my money back to Coinbase. This must happen a lot.