Because of inflation in Argentina, a historically plaguing problem, the preference is to keep pesos separate and spend them separately.
It is possible to open an account in pesos as well as in dollars. In order to open a savings account, the individual must be a permanent resident in Argentina.
In fact, the country has recently been moving in the opposite direction of bank secrecy.
Loans and financing options already are uncommon and rarely offered in Argentina as is. Anyone who is employed and paid legally on paper in Argentina will have a bank account, even as a foreigner.
Setting up automatic payment for bills, whether cellphone or other, also is only possible with a local card. In order to have a local credit card, as well, it is necessary to have a bank account in Argentina. For foreigners who already have accounts in those banks elsewhere, it is a streamlined and relatively easy process to open an account at that respective bank in Argentina.
Taxes on assets do have to be paid back in the United States, and they are not protected with bank secrecy. Most people who are making money in pesos and also have foreign money or funds overseas will try to keep the pesos separate and in Argentina.
Banking in Argentina The Ins and Outs of Banking in Argentina Argentina is definitely not a country like the Cayman Islands when it comes to asset protection, but then again, few places in the world are. Those two banks, along with Santander, are the largest in Argentina.
The benefits for opening a local bank account are mostly related to doing business. While this incurs a cost, it is lower than the loss of transferring the money at the black market rate. Opening a Bank Account in Argentina Foreigners are permitted to open a bank account in Argentina, as long as the appropriate paperwork is in order.
While all places that accept credit cards in person also will accept foreign cards, any online purchases in Argentina are only possible with local cards.
People often choose to keep their money out of the country and bring it in through wire transfers such as with MORE or Western Union at least for initial investments. It also should be noted that foreigners are not usually allowed to borrow money from an Argentine bank.
More Resources From Argentina. Each company chooses where it wants to bank, so, as a result, people might have accounts at different banks depending on where, say, their family opened accounts for them prior to them being employed.
Another current advantage to having an account in Argentina is for keeping currencies separate.HSBC Bank Argentina S.A.
is the eighth largest bank in the country based on total assets. It provides a full range of financial products and services including bank accounts, personal and business loans, credit cards, insurance, retirement and payment services, investments, asset.
HSBC Bank Argentina, Buenos Aires, Argentina. likes. HSBC Bank Argentina S.A. is the principal HSBC operating company in Argentina. The /5(K). Sep 13, · HSBC Bank Argentina S.A.
provides various banking products and services. The company accepts savings and time-deposit accounts; and offers personal and secured loans. It also provides credit card. HSBC Bank Argentina S.A. is the principal HSBC operating company in Argentina.
The seventh-largest bank in the country, it provides a full range of banking and financial products and services, including commercial, consumer and corporate banking, to over million mint-body.comarters: Buenos Aires, Argentina.
HSBC Bank Argentina is a local bank that provides a complete line of banking products and services in the area of personal banking, corporate banking and insurance, including credit cards, leasing, vendor payments, liquid assets and investment services.
I am the Head of Digital Channels for HSBC Argentina. I am responsible for internet banking services, mobile banking tools and self-service equipment such as ATMs and intelligent deposits machines.Download