Best Way to Exchange Money for a Study Abroad Student

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anonymous
anonymous

Hi everyone!

I'm an American study abroad student who will be spending the next semester in Buenos Aires. I've been reading here and there about exchanging money and the "blue dollar rate". As someone who has never been to South America or lived so independently on my own, does anyone have tips on the easiest and safest way to get the best exchange rate for US dollars?

The few options I've seen for getting access to money in general-- not just exchanging-- is 1. going to an ATM with my debit/credit cards or 2. bringing US dollars in and exchanging at the national bank or 3. on the black market exchange. I've also heard about online wire money services where my family in the US could wire money to Buenos Aires (like through Xoom).

It seems like the black market is the place to get the best exchange, but I've also read quite negative stories about receiving counterfeit bills, motochorros, pick pocketing, etc. And as a somewhat small female student that most obviously looks foreign, I'm not sure how safe this exchange is or how concerned I should be.

This world of travel is completely new to me.. so any solid advice is much appreciated!

Edited by eatruntravel14
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postfrombsas
postfrombsas

Motochorros may attack you anywhere and anytime not only while exchanging on a cueva.

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postfrombsas
postfrombsas

Also beware of the mustard trick. It can happen anywhere, anytime.

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postfrombsas
postfrombsas

Anyone including a local like me can be robbed, not only female foreign students.

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traveller999
traveller999
In response to #0

You don't say where your bank account is, but for U.S.-based accounts three options available are Xoom, Western Union and Ria Money Transfers; there may be others I'm not aware of. None will give you the best "Blue Dollar" exchange rate, but will be better than the bank rate. I'd recommend looking into the fees involved with these types of service to help your decision process. For many people, the convenience is worth the fees you pay them.

Bringing enough U.S. dollars for three months or so is not a huge issue if you feel you have a safe place to keep your cash. You can bring in up to US$10,000 without having to declare it. Exchanging money at cambios is not dangerous if you use common sense. Since you will probably be around other foreign students needing to exchange money, it should be easy to go with a friend to exchange dollars for pesos.

Yes, crime can happen to anyone here. And chances are you may get mugged. Just use common sense and you should be fine. Buenos Aires is a big, wonderful city and a great place to spend a semester. You will have tons of adventures and memories from your time here.

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lucapal
lucapal

You scared the OP away.......

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lucapal
lucapal

Are things REALLY so bad in BA these days?

I haven't been for a few years,but I don't remember it being as dangerous as some of these posts above make out.Maybe it has got a lot worse.....

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postfrombsas
postfrombsas

Hiding the truth will not make Argentina safer. Crime is widespread.

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