Credit Cards
Credit cards are widely used; the most frequently accepted cards are Visa and MasterCard. Do not, however, make the assumption that you can use a credit card in every establishment. You will be asked for identification in order to use a card; in mos cases you will need to show a photocopy of your passport, or a photo of your passport saved on your phone, as a driver’s license may not be accepted as proof of identification. However, note that in some stores, the price of items can be up to 10% more if paid for with a credit card.
Students studying in Argentina: The Argentinian government has recently allowed MasterCard, Inc. and Visa, Inc. to start allowing travelers to use exchange rates on purchases made with foreign-issued credit and debit cards that are similar to the unofficial “dolar blue” rate, which is currently about double the official rate. Each credit card company is expected to charge a commission below about 4%.
Debit Cards
*Please note that it is not recommended for students in Argentina to rely solely on debit cards for accessing money.
Using a debit card in Argentina can be quite inconvenient as the total amount of pesos you can withdraw will be very low, and withdrawing U.S. dollars is not an option in most places. It is recommended that debit cards only be used in the event of emergency cash withdrawals. Students studying in Argentina are encouraged to utilize money transfer services as a more reliable means of accessing funds during their time abroad.
Debit cards with a Visa or MasterCard logo are accepted for making purchases in many places in Argentina and Uruguay. Check with your bank to make sure your card is activated for use abroad and that your PIN will work overseas. There are numerous ATMs in the major cities, but more spotty coverage in provincial regions. In Uruguay, the exchange rate for ATM withdrawals is usually the best available since it is the bank’s own bulk rate plus a 1-2 percent charge (in Argentina, students will receive a better exchange rate using money transfer services or foreign debit/credit cards for purchases).
It is recommended that you consult with your bank about the variations, rules, and charges for overseas branches and carry the phone number of your local bank in case you lose your ATM card. It will also be important to know your withdrawal limits and whether they are daily or weekly. For example, in Uruguay, you may withdraw up to USD $300 per day with an international debit card, depending on the maximums and limits imposed by your particular bank.
