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    1 Reply Latest reply on Feb 28, 2008 3:54 PM by Lighthouse24

    Latin America Bank Advice

    gaucho_cowboy Newbie

      My partner and I run an online site and live in Buenos Aires. We're currently researching new ventures down here. Our accounts are set up with Bank of America and use direct deposit for all our clients. We've only been down here for about a week and plan on staying for about 4 months. We have noticed that we're charged about $6 for every time we take out money and charged an international transaction fee as well.

      We're using our business account to make the majority of our purchases in hope to write them off when we get back.

      Whats the best way to set up a local bank account down here to avoid all those fees? If we do set up an acccount down here, how can we use the new account to write off expenses under our LLC back in the states?

      Whats the best way in going about getting our rent as a write off down here? is this possible? :)

      Does Bank of America have partner banks in Latin America?

      I would greatly appreciate any help.
        • Re: Latin America Bank Advice
          Lighthouse24 Ranger
          When I had similar issues, American Express provided a very helpful solution -- and they do have a subsidiary in Argentina with five offices, as well as the American Express Bank Ltd. S.A. which is listed as a Banco de la Republica Argentina in Buenos Aires. Perhaps this is a place to start. I think I read a couple of years ago that BoA acquired (though buyouts and mergers) banking interests in South America, but has since sold them off. I could be mistaken, however.

          Hope this helps. Best wishes.