Argentina is a country located in the Southern half of South America . The official currency is Pesos which is very volatile compared to the US dollar. If you are a an expat or a freelancer looking for a long term stay in Argentina it is best to open a bank account in Argentina to cover your daily financial transaction. The official language for communication in Argentina is Spanish and all documentation are done in the local recognized language. The economy of the country has been facing challenges recently, so it is always advisable to choose a stable bank for your transaction.
What are the banks available in Argentina ?
There are several local banks and private banks available in Argentina , considering the volatile nature of the economy, it is best to open in any major local banks or in a big private bank.
- Banco Central de la Republica Argentina
- Banco de la Nacion Argentina
- Banco Galicia
- HSBC Argentina
- Citi Bank Argentina
- Deutsch Bank Argentina
- Standard Chartered Bank Argentina
Choose the right bank based on your location and facilities provided. ATM’s are found in good numbers in the city but in smaller towns you will find only few.
What are the documents required to open a bank account in Argentina ?
You should be 18 Years old legally to open a bank account in Argentina.
- Bank application filled and duly signed, some banks offer online application through online or mobile apps like HSBC.
- Valid passport or proof of residence ( Compromiso De Domicilio)
- Documento Nacional de Identidad ( DNI)
- Social secuirty number ( AFIP)
- Proof of employment or a work visa
- Clave Único de Identificación Laboral (CUIL- Tax code for employees )
- Clave Única de Identificación Tributaria ( CUIT-Tax code , if you are self employed or doing business )
- Clave de Identificación ( CDI -Personal identification code )
- Local mobile number
- Passport photographs
These are some of the common documents required to open a bank account, kindly refer to your banking website to know more on the documents . The documentation varies bank to bank according to their banking policy.
If you are going as an expat to work for your employer , your employer will assist you to open a bank account in the same bank where they have a business relation.
Minimum amount to open a bank account varies from bank to bank , so its better to check with your bank before opening. There are also opening charges and maintenance charges levied for your account.
What are the banking hours in Argentina ?
Banking hours in Argentina are restricted and they vary place to place in the country according to the climate. Banks generally operate from Monday to Friday at 10 Am to 3 Pm , during summer they operate till 12.30 Pm and in winter they operate at 7 Am to 12 Pm .
Banks are generally crowded , so expect a longer queue and non English speaking clerks. So, if you are a foreigner kindly take translator your local friend to get things done in the bank.
What are the digital banks available in Argentina ?
If you are a digital nomad and like to have virtual banking experience in Argentina, there are few digital banks available for your choice . The best digital banks in Argentina are ,
These digital banks provide all the service like traditional banks with zero fees. They provide few banking products which is necessary to our day to day usage. You can avail debit cards , credit cards and other traditional banking products with lesser or zero fees.
These banks have apps which can be installed in your phone and avail almost all services online with a single click.
So, if you are some one who likes digital banks, you can save a lot of time and documentation which happens with the traditional banking facility.