For an international business in Argentina, the account decision follows the foreign exchange rules. Export proceeds, import payments and conversions run through the official foreign exchange market under the Banco Central de la República Argentina (BCRA) regulations known as Exterior y Cambios, and an Argentine bank is the institution that executes them. The local bank is therefore the core of the set-up, not an option.
The rules have eased considerably. Since April 2025, imports of goods can be paid from the date the customs entry is registered, and the separate export exchange scheme known as the dólar blend has ended. In 2026 the BCRA has continued to adjust the rules, most recently through Comunicación A 8481 of 14 September 2026, which updated the consolidated Exterior y Cambios text. What remains is a framework that a company works within: export proceeds are settled locally, and companies need BCRA approval to buy foreign currency to hold abroad.
This guide compares six Argentine banks and two international layers, and explains which combination suits importers, exporters and wholesalers.
| Provider | Best for | Role |
|---|---|---|
| Helm | Importers, exporters and wholesalers with regular corridors | International operating layer |
| BBVA Argentina | Established companies wanting local and international banking | Main bank |
| Santander Argentina | Companies needing local scale and digital transfers abroad | Main bank |
| ICBC Argentina | Importers and exporters, including China-linked trade | Main or trade bank |
| Banco Galicia | SMEs wanting broad local business banking | Main bank |
| Banco Nación | Companies wanting the state bank and its foreign trade network | Main or second bank |
| Wise Business | Supplementary multi-currency payments, where eligible | Supplementary layer |
| Provider | International strength | Weigh before opening |
|---|---|---|
| Helm | Collection and payout accounts, conversion and trade documents in one workspace | Does not replace the Argentine bank that executes FX market operations |
| BBVA Argentina | Peso, USD and EUR accounts; payment orders, export collections, letters of credit | Traditional process; fees in the bank's published table |
| Santander Argentina | Transfers abroad online for all BCRA concept codes; same-day processing before 13:00 | Economics depend on the wider relationship |
| ICBC Argentina | Multipay Comercio Exterior digital platform; USD import and export finance | Specialised trade workflow |
| Banco Galicia | Payments, collections, financing and foreign trade services | Trade depth depends on the company's needs |
| Banco Nación | Payments to Chinese suppliers in yuan; foreign trade offices | More conventional operating model |
| Wise Business | Multi-currency transfers and batch payments | Not an Argentine bank; BCRA rules on export proceeds still apply |
Every account decision in Argentina sits on top of the BCRA's Exterior y Cambios rules. The table summarises the points that matter most to trading companies, as they stand in October 2026.
| Rule (BCRA Exterior y Cambios) | Current position, October 2026 |
|---|---|
| Goods export proceeds | Brought in and settled in the official FX market within the deadline for the product, set in section 7 |
| Service export proceeds | Settled within 20 business days of receipt (point 2.2.1) |
| Proceeds kept in local USD accounts | Exempt from settlement if applied, within the deadline, to payments that have FX market access (point 2.7) |
| Import payments for goods | Payable from the date the customs entry is registered, for goods entered from 14 April 2025 |
| Services from unrelated providers | Payable from the date the service is provided or accrued |
| Services from related parties | Payable 90 calendar days after the service is provided or accrued |
| Company purchases of FX to hold abroad | Prior BCRA approval required (point 3.10) |
Two consequences follow. First, an exporter's proceeds must reach an Argentine bank, either for settlement into pesos or into a local USD account under one of the exceptions, so a foreign account cannot be the destination for goods export revenue. Second, an importer's ability to pay depends on documentation the local bank checks: the customs entry, the invoice and, for services, the date the service was provided.
The rules change frequently through BCRA communications. Ask your bank's foreign trade desk to confirm the current position before any large or unusual transaction.
A local USD account is the practical tool for an Argentine trading company to hold foreign currency within the rules. Banks must allow inflows from abroad to be credited to clients' foreign-currency accounts (point 2.8), and two exceptions let exporters keep proceeds in dollars rather than settling into pesos:
Both exceptions require the funds to stay in the company's own USD account at an Argentine bank, which is one more reason the local bank sits at the centre of the set-up.
A trading company in Argentina typically runs two layers. The first is an Argentine bank: peso current account, local USD account, the foreign exchange contracts for exports and imports, and local credit. The second, where it adds value, is an international layer for paying suppliers and collecting from buyers outside Argentina in their own currencies, with clear pricing and documentation.
Some companies add a second Argentine bank for resilience, better pricing on large FX trades or a stronger foreign trade desk. Each account should have a defined purpose, because every extra account adds reconciliation and approval work.
Helm, the firm's own business account and payments platform, gives trading companies collection accounts in their buyers' currencies, payout accounts in their suppliers' currencies, conversion through licensed providers and the invoice, customs and shipping documents attached to each payment. Balances are held with licensed partners in each region, and the business contracts with them through Helm.
In Argentina, Helm sits beside the local bank. It does not replace the Argentine institution that executes FX market operations and settles export proceeds under BCRA rules. Pricing is a monthly platform fee plus the partners' transaction and conversion fees, set out in writing. The Helm platform page sets out the modules.
BBVA's company account package includes a peso current account with overdraft and cheque facilities, and a special current account (cuenta corriente especial) available in pesos, US dollars or euros. No minimum balance is needed to open, and fees are set out in the bank's published table.
For foreign trade, BBVA offers received payment orders from abroad, export collections, export letters of credit with set payment timelines, international payments, and export and import finance, with help on shipping permits and document checks.
Santander lets companies send transfers abroad through Online Banking Empresas for all BCRA concept codes, or at a branch using its single transfer form. Requests received before 13:00 are processed the same day, and funds reach the beneficiary within 48 to 72 business hours depending on the country.
Each transfer is a separate operation and the funds, including the commission, must be available beforehand. Santander directs companies to the BCRA's published commissions for its fees. Its foreign trade desk can be reached at consultascomex@santander.com.ar.
ICBC's Multipay Comercio Exterior is a fully digital, multi-currency platform for foreign trade operations without paper documents. It covers payments abroad (import letters of credit, import collections and transfers), receipts from abroad (export letters of credit, export collections and payment orders) and USD credit lines for exports and imports.
ICBC's group connection to China makes it a natural choice for companies with Chinese suppliers or buyers, though its trade services cover every corridor.
Galicia's Cuenta Empresa combines payments, collections, financing and investments with specialist advice, and its online business account is free for up to six months. Foreign trade services are available to business customers.
Galicia suits SMEs whose main need is local banking, with foreign trade as a secondary requirement. Companies with complex trade flows should compare its foreign trade desk with BBVA's and ICBC's.
Banco de la Nación Argentina has foreign trade offices, branches abroad and a long correspondent network. It offers companies payment for goods and services imported from China in yuan, which removes the US dollar conversion for Chinese suppliers that accept it.
Its operating model is more conventional than the private banks', and it suits companies that want the state bank as their main or second relationship.
Wise publishes an Argentina version of its business account for sending, receiving and converting money in several currencies, with batch payments to up to 1,000 recipients and volume discounts above £20,000 a month. Wise states that it is regulated by local authorities and authorised by the UK Financial Conduct Authority to issue e-money.
Wise is not an Argentine bank and does not change the BCRA rules: goods export proceeds must still be brought into Argentina and settled, or held in a local USD account under an exception. Confirm with Wise whether your company is eligible and which flows the account can carry before relying on it.
Check how the bank receives payment orders from abroad, how quickly they are credited and how it handles export collections and letters of credit. Exporters need a bank that can apply the settlement exceptions correctly.
Check coverage of your suppliers' countries and currencies, the cut-off times, the documents required and whether payments can be made online for every BCRA concept code.
Compare the rate and commission on the same amount on the same day. On a large import payment, a small difference in rate outweighs the transfer commission.
Letters of credit, documentary collections and the handling of customs documents decide how smoothly imports and exports move.
Export pre-finance and import finance in USD, offered by BBVA and ICBC among others, often matter more than the payment route.
A named contact on the foreign trade desk is what keeps a held payment moving. Ask for one before the first large transaction.
Argentine banks open company accounts for entities registered in Argentina with a CUIT, the tax identification number issued by ARCA, the federal tax and customs agency (formerly AFIP). Expect to provide:
The firm's banking and payment processing service arranges accounts for companies opening in Argentina or adding a second bank.
Foreign-owned companies in Argentina face specific rules on payments to their group. The position in October 2026:
Group treasury plans should be built around these timings, and the local bank's foreign trade desk should confirm each payment's eligibility in advance.
Use a bank with a strong foreign trade desk for settlement, export collections and pre-finance, and a local USD account to use the settlement exceptions. The guide to how Argentine exporters receive USD payments sets out the rules in detail.
Prioritise supplier-country coverage, online payment for every concept code and import finance. Our guide to how Argentine importers pay overseas suppliers covers timing and documentation.
Domestic collections run through the local bank; those that import stock need a reliable supplier payment route and working capital. The guide to payment methods for Argentine wholesalers covers collections.
There is no single best bank. BBVA, Santander, ICBC, Galicia and Banco Nación each suit different needs, and Helm or Wise can add an international layer beside the local bank.
Yes. Argentine banks offer company accounts in US dollars, such as BBVA's special current account in pesos, dollars or euros, subject to onboarding.
Yes. Goods export proceeds must be brought into Argentina and settled in the official FX market, or credited to a local USD account under a BCRA exception.
For goods entered from 14 April 2025, payment can be made from the date the customs entry is registered, under Comunicación A 8226.
Not freely. Companies need prior BCRA approval to buy foreign currency for external assets, under point 3.10 of the Exterior y Cambios rules.
Often yes. A second bank or an international layer can improve resilience, pricing and corridor coverage, provided each account has a clear purpose.
Yes. Banco Nación offers payment for goods and services imported from China in yuan, for suppliers that accept it.
Buckingham Capital Consulting arranges business accounts, foreign exchange and payment routes for trading companies in Argentina and across Latin America through licensed partners, and has obtained payment and e-money licences for firms including Nexpay, Global Send and Dzing Finance since 2013. Its trade payments service builds each company's account structure around the BCRA rules that apply to its flows.
Speak to an expert: WhatsApp +44 7563 115980, Telegram @buckinghamcapital or info@buckinghamcapitalconsulting.co.uk.
This article is general information, reviewed against the regulator’s published requirements on the date shown. It is not legal advice; the regulator’s current publications take precedence.