Money in Argentina for Canadians: cards, cash, banks

What your Canadian card actually costs

The card rate is close to the official or MEP rate, the latter set through Argentina's securities market. After Argentina lifted the cepo, its currency controls for individuals, in April 2025, the informal blue-dollar cash rate moved only slightly above the official one. The small gap gives little reason to change cash on the street.

Your issuer converts the peso charge into Canadian dollars; most Canadian credit cards add a 2.5% foreign-transaction fee, though some waive it. At a terminal, billing in pesos lets the card network do the conversion. Choosing the offered Canadian- or US-dollar amount usually means accepting the merchant's more expensive rate.

Cash for small purchases, a plan for rent

Kiosks, street markets, tips and small shops are reasons to have pesos on hand. Banelco and Red Link ATMs accept Canadian debit cards carrying Plus, Cirrus, Visa Debit or Debit Mastercard, but charge foreign cards per withdrawal on top of the Canadian bank's fee. Taking out a larger amount less often reduces the number of ATM charges.

A landlord or small business may instead want a bank transfer or a QR payment through Mercado Pago, which requires a DNI. DNU 70/2023 lets landlord and tenant agree the lease currency, and some rents are quoted in US dollars. The lease should say which currency and payment method apply. Compare rentals on PlataPlace to see owner and brokerage listings with their source and last-seen date; the Canadian renter's guide to guarantees and adjustments explains the other terms to weigh.

A local account usually follows the DNI

Banks generally ask for a DNI plus a CUIL or CUIT, which puts account opening after residence for most Canadians. The first foreign-resident DNI costs ARS 20,000 through RENAPER and arrives by post in 2 to 6 weeks. ANSES issues the CUIL for work and social security; ARCA, formerly AFIP, issues the CUIT for tax. Canadian cards can cover daily spending while those documents are in progress.

Keep access to the account paying for your move

A security code sent to a cancelled Canadian number can lock you out of an otherwise healthy account. Keeping that number on a low-cost plan, or moving sign-in to an authenticator app where the bank allows it, preserves a recovery route. The bank also needs current email and mailing details and a way to send replacement cards abroad. A transfer, bill payment and card lock tested while the old number works reveal which actions require another code.

Two cards from separate accounts, ideally at different banks and stored apart, provide a route around an account block. If one partner usually handles the banking, joint or authorized-user access gives the other an independent way in without sharing a password.

A warning by text or email deserves a check in the bank's app or saved website, rather than through the message's link. One-time codes belong in the sign-in process, never in a conversation with a caller.

What keeping a Canadian account means for tax

The Canada Revenue Agency looks primarily at ties such as a Canadian home, spouse or common-law partner, and dependants when assessing tax residence. Bank accounts and credit cards are secondary ties, so retaining an account alone does not decide where you are resident.

A Canadian non-resident should tell the bank and brokerage so the appropriate withholding applies. A TFSA can stay open, but contributions made while non-resident attract a 1% monthly tax. ARCA and an Argentine accountant address the treatment of income earned while living in Argentina.