All of a sudden, opening an Argentina bank account online is in high demand. People who previously sought Latin American banking options in Mexico or even Paraguay are now looking further south to Buenos Aires.
Most of the international interest stems from the election of President Javier Gerardo Milei, who campaigned on a platform of economic shock therapy to revitalize the economy and reverse decades of economic rot.
If you’re one of the people from across Europe, the United States, and other parts of the world who want to explore Argentine banking, we share the specific requirements (and roadblocks) below.
Use the table of contents to continue exploring more information on opening an Argentina bank account online.
Table of Contents
- Can I Open an Argentina Bank Account Online as a Non-Resident?
- Who Should Bank in Argentina?
- Argentina Bank Account Opening 101
- Frequently Asked Argentina Banking Questions
- Do You Want Help Opening Bank Accounts?
Can I Open an Argentina Bank Account Online as a Non-Resident?
Foreign non-residents can open an Argentina bank account online. Additionally, several online banking platforms in Argentina offer a less bureaucratic path to open and maintain accounts in Argentina.
Like most online banking platforms, Argentina’s financial institutions require a local phone number and DNI (Documento Nacional de Identidad or National Identity Document). A DNI isn’t legally required to open a bank account, however, online banks in Argentina require it as a step in their KYC process.
Individuals who are not temporary residents or permanent residents with a DNI are unlikely able to open an Argentina bank account online.
Fortunately, there are alternative leading financial institutions for foreigners, expats, and non-residents to consider, including banks in the UAE, banks in Panama, and banks in the Cayman Islands.
Before deciding where to bank, let’s dive into the types of clients who consider Argentina as a banking option.
Do You Want to Explore All Your Offshore Banking Options?
Who Should Bank in Argentina?
Similar to setting up an account virtually in other jurisdictions, like Mexico, we typically suggest that only individuals and businesses with local banking requirements bank in Argentina. This is due to the economic situation in the country.
We also strongly suggest that Argentinians with any amount of capital consider banking outside of Argentina in a stronger economy with a stable currency.
Non-residents thinking about banking here for any reason need to limit their exposure and only deposit the amount of money they’re comfortable with potentially losing.
Argentina Bank Account Opening 101
Argentina does not require foreigners to have residency to open accounts, though many bankers tell you the opposite.
You see, there’s an odd phenomenon in Argentina that involves bankers lying to you, telling you the wrong information, and even promising they’re able to open an account only to never contact you again.
This isn’t speculation. These are real, first-hand experiences based on feedback from our members.
Non-residents interested in banking here need to prepare for these possible scenarios. It’s also important to prepare for some legwork and the process of applying at multiple financial institutions to successfully open.
Frequently Asked Argentina Banking Questions
Below are two of the most common questions we receive from people exploring how to open an Argentina bank account online. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
Can Non-Residents Open Accounts Online with Banks in Argentina?
Yes, non-residents can open accounts online with banks in Argentina as long as they have a local phone number and a DNI. DNIs are issued to temporary and permanent residents of Argentina and without the DNI you won’t be able to complete the onboarding process.
Why Do People Open Bank Accounts Online in Argentina?
In most cases, non-residents sometimes want to open a bank account online in Argentina because it is a faster and less bureaucratic way to open and maintain accounts in Argentina. Additionally, online accounts often act as digital payment cards, allowing account holders to quickly and easily make online payments. There are risks to this, so tread carefully.
Do You Want Help Opening Bank Accounts?
If so, you can access GlobalBanks Insider and start the process of applying for an offshore account in a few clicks.
GlobalBanks Insider is a dedicated account opening solution that involves direct support from our team and direct introductions to the banks of your choosing. It gives you instant access to the…
+ Direct support from a team of banking experts
+ Direct introductions to your desired banks
+ Answers to your most pressing questions and challenges
+ Expert insights on which banks to choose & why
+ Plus FULL access to our entire suite of account opening tools and intelligence!
And “yes!” GlobalBanks Insider is designed to help foreign and non-resident individuals and companies open bank accounts.
You can learn more on the products page from the main menu above.
