Bank and payments in Argentina: an account even without a DNI, and buying dollars is allowed again

You can open an Argentine bank account before your DNI arrives. In 2023 the central bank, the BCRA, wrote to the banks that an account is possible for a foreigner whose residencia is still being processed, and expressly named rentistas and pensionados. You prove your identity with the documents that Migraciones accepts. A savings account in pesos is free for a migrant. And since April 2025 you may again buy dollars freely as a resident.

What	Rule	Source
Account without a DNI	possible, with the documents Migraciones accepts	BCRA B 12635 (2023)
Savings account in pesos for migrants	no opening and no maintenance fees	BCRA
Identity document for that account	DNI from RENAPER or the passport of your country	BCRA
Buying dollars as a resident	free since 14 April 2025, through your account	BCRA A 8226
Paid in cash, in pesos	at most the equivalent of 100 dollars a month	BCRA A 8226
Cash on arrival	from 10,000 dollars declare on form OM 2249A	ARCA
Cash for children under 16	limit 5,000 dollars	ARCA

Which account do you open first?

Since 2022 the BCRA has promoted a free caja de ahorros in pesos for migrants. The bank charges no opening or maintenance fees. You only show your identity document: a RENAPER DNI or the passport of your country of origin. With it you get a debit card, online banking, free immediate transfers within Argentina and the option to pay bills.

If you do not yet have a DNI, the letter of September 2023 applies: banks may open an account for foreigners whose residence is still pending. A savings account in foreign currency, to receive transfers from abroad, is also covered. The bank must still identify and know you, under the anti-money-laundering rules. So bring your proof of the application at Migraciones, and proof of your income. ANSES also names banks as a place where you need your CUIL; see registration and numbers.

May you buy dollars again?

Yes. With Comunicación A 8226 of 11 April 2025 the BCRA abolished the old limit of 200 dollars a month, the so-called cepo. Since 14 April 2025 a resident may buy foreign currency to hold or to put in a dollar account, without prior permission from the BCRA. The conditions:

• You pay from your own account at an Argentine bank. Cash in pesos may be at most the equivalent of 100 dollars a month, across all banks together.
• The bank gives you the dollars in cash, or puts them in your own dollar account in Argentina or in your own account abroad.
• The bank must be able to see that your income or assets fit what you save.

If you are a rentista, bring your money in through a recognised bank from the start. Before granting residence, the migration service checks that the money for your stay came into the country through an institution recognised by the BCRA. Money you carry in cash does not go through such an institution. Keep every transfer receipt.