Account in Argentine Pesos (ARS): features, documents, and banking requirements

A bank account in Argentine pesos (ARS) is not just a convenient option that allows cashless transfers and payments, but also a way to store savings.

According to the rules of the BCRA (Central Bank of Argentina), all commercial credit institutions in the country are required to provide clients with at least one free universal account in Argentine pesos (Cuenta Gratuita Universal). In most cases, this is a savings bank account in Argentine pesos (ARS) with free opening, maintenance, and debit card issuance.

According to the official BCRA (Central Bank of Argentina) requirements, the free universal ARS account includes free transfers and balance inquiries, as well as up to eight free cash withdrawals per month through ATMs of other banks.

According to statistics from the Central Bank of Argentina, the amount of non-cash funds stored in bank accounts in Argentine pesos (ARS) continues to grow. In 2025, the balance of private-sector deposits in Argentine pesos increased by more than 7.5%, while the number of deposits rose by 4.6%.

Argentine pesos (ARS) are the primary and most widely used currency for bank accounts: they are used for transfers, salary payments, cash withdrawals, and utility bill payments. This is confirmed by data from the Central Bank of Argentina, which recorded deposit volumes exceeding 186 trillion ARS.

According to a report by the Central Bank of Argentina, by March 2026, the country had approximately 69.6 million payment accounts, reflecting the high level of digital banking service usage and cashless payments.

Argentina is also one of the few Latin American countries with a high level of QR code payments and mobile banking usage. According to BCRA (Central Bank of Argentina) data, in March 2026 alone, around 24 million payments were made in public transport using QR codes.

How to open a bank account in Argentine Pesos (ARS)?

As of 2026, around 60 banks operate in Argentina, where individuals can open accounts in Argentine pesos (ARS), including:

• Banco Santander Argentina;
• Banco de la Nación Argentina;
• HSBC Bank Argentina;
• Brubank;
• ICBC;
• Banco Macro;
• Banco Galicia;
• Banco Nación;
• Banco Provincia;
• Banco Ciudad.

The procedure for opening an account in Argentine pesos (ARS) differs for residents and non-residents.

To open a bank account in Argentine pesos (ARS), residents only need to provide bank employees with an identification document — the DNI* identity card — as well as proof of address through utility bills or a rental agreement.

* DNI (Documento Nacional de Identidad) is the national identity document. It is the primary document for Argentine citizens and residents, confirming identity and residential address. A DNI is required for opening bank accounts, signing contracts, receiving government services, obtaining employment, making tax payments, and most official operations within the country.

Foreigners may open a bank account in Argentine pesos (ARS) even without Argentine citizenship or a permanent identity document; however, requirements for non-residents are stricter. Non-residents generally need the following documents:

• Completed bank account application form;
• Valid identity document (international passport);
• Proof of address (utility bill, police certificate, property ownership certificate, or, in some cases, a notarized letter from the landlord);
• Proof of income (bank statements or payroll documents);
• One of the documents issued by the Federal Administration of Public Revenues — CUIT* or CUIL* (identification numbers for tax reporting);
• Temporary registration or residence permit;
• In some cases, bank employees may request an employment contract, a lease agreement, or a university certificate.

* CUIT (Clave Única de Identificación Tributaria) is the unified tax identification code. It is assigned to companies, sole proprietors, and individuals engaged in economic activity. CUIT is used to pay taxes, register businesses, issue invoices, work with banks, and interact with Argentine tax authorities.

* CUIL (Código Único de Identificación Laboral) is the unified labor identification code. It is a personal employee number in Argentina required for official employment, salary payments, pension and social benefits, health insurance, and employment record tracking. It is usually issued to hired employees and foreign nationals officially working in the country.

Additional documents, such as a cover letter explaining the intent to open the account and a recommendation letter from a reputable bank, may increase the chances of approval or expedite the account-opening process.

How to deposit and withdraw Argentine Pesos (ARS) from a bank account?

A bank account in Argentine pesos (ARS) can be funded or withdrawn from using cash via an ATM, transfers from another account or card, through a bank branch cashier, or with the help of physical and online exchange services.

Before funding an account, it is necessary to review the bank's tariffs and limits. As a rule, basic operations for savings accounts are not subject to fees, although additional services such as currency conversion or interbank transfers may incur commissions.

Funds can also be received into an Argentine peso (ARS) bank account from abroad. However, such transactions must usually be made either from the account holder's own account in another country or from the account of a trusted person. Additionally, when funding an ARS account from foreign accounts, the bank may request proof of the funds' origin.

Features of bank accounts in Argentine Pesos (ARS)

When determining transfer and withdrawal limits and commission policies, banks — especially commercial banks — primarily rely on their internal procedures. Therefore, service conditions may vary significantly depending on the selected financial institution, account type, client status, and confirmed income sources.

When choosing a bank for opening an account in Argentine pesos (ARS), it is also important to consider the institution's willingness to work with the migration and tax status of the individual. Foreigners should pay special attention to their residency status, proof of address, and proof of income sources.

In recent years, Argentine banks have strengthened financial monitoring procedures and verification of fund origins in accordance with AML/KYC requirements (anti-money laundering and customer identification). As a result, foreign nationals are more frequently subject to additional document requests.

Another feature of bank accounts in Argentine pesos (ARS) is the ability to manage them remotely from another country. In addition to mobile and online banking, this can also be done through an authorized representative who can perform transactions on behalf of the account holder.