If I open a dollar account in an Argentinian bank and store US dollars, can I withdraw cash in dollars?Here's the straight answer on this issue:
You can open a dollar bank account (called a Caja de ahorros en dolares) at any local bank.
Here's what you can do with that account:
- You will be able to deposit dollar bills (cash) to this account.
- You can withdraw (from a teller) dollar bills from this account.
- You can transfer the funds to any other dollar denominated account within the Republic of Argentina.
- You can transfer the dollars to pesos at the official Central Bank rate.
- You can't convert from pesos to dollars without prior approval from the tax office (AFIP).
- You can't wire transfer the dollars abroad.
- You can't receive wire transfers from abroad into this account. The Central Bank automatically convert any foreign wire to pesos at the official rate.
- You can't withdraw the dollars from an ATM machine.
The person writing this answer is a US Citizen with a dollar-denominated account at Banco Nación, so I know from my own experience that this can be done.