🇦🇷 Opening a Bank Account in Argentina
Honest assessment of business banking for foreign founders in Argentina.
Argentina's banking sector operates under significant Central Bank (BCRA) regulations, particularly foreign exchange controls (cepo cambiario). Major banks include Banco Galicia, Santander Argentina, BBVA Argentina, HSBC Argentina, and Banco Macro. Corporate account opening requires in-person visits, registered company documents, CUIT, and director identification. USD accounts are available but heavily regulated — access to foreign currency for imports, dividends, and debt service requires BCRA authorisation. Fintech alternatives (Ualá Business, Mercado Pago) offer peso-denominated business accounts but with limited forex capabilities. International wire transfers are subject to BCRA reporting and approval requirements.
Tips for Success
- Have all company formation documents ready before applying — trade licence, articles of association, certificate of incorporation.
- Prepare a clear business plan or description of your business activities, even if the bank doesn't explicitly ask for one.
- Consider digital/neo-banks as your first account — they typically have faster onboarding for new companies.
- Apply to multiple banks simultaneously rather than sequentially — rejection at one doesn't affect others.
This content is educational and does not constitute legal or tax advice. Always consult a qualified professional for your specific situation. Data last verified March 2026.