Credit Cards vs. Cash in Argentina (Updated)
Historically, tourists had to bring physical dollar bills to get a good exchange rate (the famous "Blue Dollar"). Fortunately, this changed significantly with the introduction of the MEP rate for foreign cards. Nowadays, payment dynamics are much simpler but still require some strategic knowledge.
The MEP Rate for Credit Cards
If you use a foreign Visa or Mastercard, the transaction will automatically convert at the "MEP" (Mercado Electrónico de Pagos) rate. This rate is nearly identical to the Blue rate. This makes paying with a card secure, easy, and highly beneficial.
| Payment Method | Exchange Rate Applied | Recommendation |
|---|---|---|
| Credit/Debit Card (Visa/Mastercard) | MEP Rate (Excellent) | Use for hotels, flights, restaurants, and large stores. It is your main method. |
| Physical Cash (USD/EUR) | Blue Dollar (Excellent) | Exchange only what you need at "Cuevas" or Western Union for small expenses. |
| ATM Withdrawal | Official Rate (Poor) + High Fees | AVOID. Withdrawal fees are extremely high and limits are very low. |
When do you still need cash (Pesos)?
Although cards are widely accepted in Buenos Aires, you will still need cash for:
- Street Taxis (if not using an app like Uber/Cabify)
- Small convenience stores (Kioskos)
- Tipping waiters, bellboys, or tour guides (tips cannot always be added to the card)
- Street markets and small vendors (like the San Telmo fair)
Pro Recommendation: Western Union
The most popular way among expats to get physical cash is by sending money to yourself via the Western Union app. They pay almost the exact Blue rate, and you can pick up the pesos at any branch in the city. Just make sure to go to a large branch (like on Avenida Córdoba) to ensure they have enough cash.
Updated Price Examples (Estimates)
To help you plan, here are some current average prices converted at the MEP/Blue rate:
- Coffee and Medialunas: ~$3 to $4 USD
- Uber/Cabify Ride (15 min): ~$4 to $6 USD
- Premium Steak & Wine Dinner (per person): ~$25 to $40 USD
- Craft Beer in a Palermo bar: ~$2 to $3 USD