How to Open a Bank Account in Argentina as a Foreigner

What the current BCRA position actually establishes

BCRA Communication B 12635 reminds financial institutions that migrants may prove identity using documents accepted by Migraciones and that nonresidents may use the identity document from their country of residence, issued under that country’s law and legalized by a consulate or apostille. It then states that opening deposit accounts is feasible for foreigners regularizing migration status without DNI and for nonresident individuals.

The same communication preserves the core qualification: financial institutions must comply with anti-money-laundering and customer-identification rules. “Feasible” is therefore not the same as a right to a specific app flow, currency, card, limit or approval.

Do not use the retired tourist-account checklist

The former special tourist savings account had its own narrow funding and closing logic. Communication A 8006 removed those provisions on May 9, 2024. A bank may still offer another account under the general framework, but an old article or screenshot about the tourist account is not a current product sheet.

Ask the institution a precise question: “Which current deposit account can you onboard for my status and documents?” Record the product name, currency, required identifier, branch or digital channel, incoming-transfer rules and documents before travel.

Prepare the file before choosing the bank

1. Classify your status: nonresident visitor, residence in process, or resident with Argentine DNI.
2. Confirm identity format: ask whether passport alone is accepted and whether legalization, apostille or a Migraciones document is required for this lane.
3. Confirm the Argentine identifier: ask whether the product requires CDI, CUIL or CUIT. Do not obtain a tax registration merely because a generic checklist mentions it.
4. Prepare compliance evidence: current address, tax residence, activity, purpose of the account, expected movements and source of funds.
5. Confirm the operating model: pesos or foreign currency, CBU, debit card, app access, transfer sources, fees, limits and recovery process.
6. Get written confirmation where possible: branch practice can diverge from a generic support reply, so retain the bank’s current answer and reconfirm before relying on it.

Where CDI fits — and where it does not

ARCA says people who have neither CUIT nor CUIL may request a CDI when they need to open a bank account, operate in the financial system or acquire registrable assets. For a nonresident in Argentina the listed identity document is a passport; the official page also describes other residence and nationality cases.

This explains the purpose of CDI, not whether every bank account requires it. A bank may ask for CDI for its product or compliance file, while another lane may use DNI, CUIL or CUIT. CDI does not create residence, tax status, a credit history or account approval.

A wallet can help with payments but is not the same answer

BCRA defines the CVU as the 22-digit key identifying a user at a payment service provider, including electronic wallets and prepaid-card providers. A CVU can receive and make interoperable transfers, but it is not a CBU and does not prove that the user holds a bank deposit account.

Wallet onboarding also has provider-specific identity, residence, device and risk rules. Treat it as a separate product comparison, not as a guaranteed workaround for bank onboarding.

Verify these points before transferring money

• Does the account holder name exactly match the identity document?
• Which currencies and sources of funds can be credited?
• Are third-party or foreign transfers permitted for this product?
• Which evidence may be requested before funds are released?
• Can the user recover access from abroad?
• What event can restrict or close the account?
• Does a property or investment transaction require a separate tax, notarial or exchange-control review?

Frequently asked questions