Leaving pesos idle in a savings account has a silent cost, but the most popular alternative to avoid it (the fixed term deposit) forces you to give up access to that money for weeks.

Here we tell you what options exist for your pesos to generate yield without losing availability.

Download the belo app and check the yield account and conversion options according to your account and current conditions.

The real cost of leaving pesos idle

A million pesos today sitting in a savings account is worth less tomorrow. What many do not calculate is how much the most popular solution to avoid it costs them. 

A traditional 30-day fixed-term deposit forces you to give up the possibility of using that money when a need or an opportunity arises, and at certain times that liquidity is worth more than the yield.

Suppose someone deposits $1,000,000 in a 30-day fixed term. During that month, the money remains locked.

If a medical expense, an on-sale ticket, or a sharp devaluation arises, there is no way to access the capital without canceling and losing the generated interest.

The result is usually one of two: either the opportunity is lost, or the fixed term is canceled and the money worked for free for weeks. The alternatives to fixed term deposits in Argentina have changed quite a bit in recent years. 

Today there are options that allow pesos to generate yield while remaining available at all times, and the difference between using them or not can define whether a monthly budget is enough or falls short.

When liquidity matters more than the rate

There are three concrete situations that anyone faces during the year.

• Saving for a trip: someone who pools pesos for months for a vacation needs that money to maintain its purchasing power, but also needs to be able to use it to book a flight or accommodation the moment a good price appears.

• Covering recurring expenses like rent, utilities, or installments: that money comes in at the beginning of the month and is spent gradually, leaving a balance that can work during the days it remains unused.

• Maintaining an emergency fund which by definition has to be available instantly.

In all three cases, immobilizing pesos in a fixed term generates friction. Digital wallet yield accounts and money market mutual funds credit daily yield on the balance and allow you to redeem instantly, without penalty or delay.

If someone keeps $500,000 in a yield account for 30 days and on day 15 needs to withdraw half of it to pay rent, the money generated interest every day it was there.

In a fixed term deposit, those same $500,000 would have been locked or, if canceled earlier, would have generated nothing. The accumulated difference over a year can change the outlook of any budget.

Converting at the right time

Keeping pesos liquid and generating daily yield is a good first step, but there is a second layer of protection that many neglect: the possibility of converting to dollars when the exchange rate justifies it, without waiting in lines, without relying on an exchange house, and without being tied to a price that has already changed when the time comes to trade.

At belo we designed a conversion feature that allows you to swap pesos to dollars (or stablecoins) directly from the app, seeing the exchange rate before confirming and with the conversion executing in seconds. 

The amount you see on screen is the one you receive. This transparency matters especially in a country where the gap between rates can move several points in a single day.

The app also allows you to automate that process. 

You can configure an automatic savings in dollars on a daily, weekly, or monthly basis, with no minimums or maximums, which turns saving into something that happens without manual intervention and eliminates the temptation to postpone.

If circumstances change, you can pause, edit, or cancel at any time from the same app. For those who travel, this instant conversion has an additional benefit. 

Buying dollars from a digital wallet avoids the traditional credit card circuit, which usually applies the official exchange rate of the Banco de la Nación Argentina plus perceptions and taxes that make every transaction more expensive.

What to evaluate before moving your pesos

Each alternative has conditions that are worth reviewing before deciding.

Comparison of available instruments

Instrument · Liquidity · Key consideration

Yield account (digital wallet) · Immediate · Daily yield without opening costs, although the rate is usually lower than that of a fixed term deposit

Money market fund · Within the day or 24 business hours · Diversifies risk, but requires opening a brokerage account

Traditional fixed term · Locked for 30 days · Higher nominal rate, but no access to capital during the agreed period

Conversion to dollars or stablecoins · Immediate from the app · It can help preserve value against devaluation, although it exposes to the risk of temporary peso appreciation

As for perceptions and taxes, buying dollars through digital channels may include tax withholdings depending on the method and current regulations.

It is advisable to check the specific conditions within each app before confirming any transaction, because rules change frequently and what applied three months ago may now be obsolete.

A digital wallet is opened from your phone in minutes, with identity verification and no in-person paperwork, unlike a fixed term deposit, which requires a bank account and additional setup.

For those who already have the habit of trading from their phone, the entry barrier is practically non-existent.

What defines whether it is better to keep pesos or convert them to dollars depends on the timeline for use.

If the money is needed in pesos within the next few weeks for daily expenses, keeping it in a yield account makes sense because it avoids the double conversion cost. 

If the goal is to protect the value of savings against Argentine inflation in the medium term, converting to dollars or stablecoins can reduce that exposure, though it does not eliminate it completely. 

The key lies in separating what is going to be spent soon from what you want to preserve, and moving each portion into the instrument that best fits its function.

Frequently asked questions on where to place your pesos to get more out of them without locking them up

Is a money market fund safe for keeping savings in pesos?

Money market funds invest in short-term, low-volatility instruments, making them relatively stable. Even so, they do not have a state guarantee like fixed terms, so it is advisable to check the fund's portfolio and the rating of the management company before investing.

How much does a yield account earn compared to a fixed term deposit?

In general, a yield account offers a lower nominal rate than a fixed term deposit, but that difference is offset by immediate liquidity and by the fact that yield is credited every day, even if you withdraw part of the balance during the month.

Is it convenient to convert all pesos to dollars or stablecoins?

It depends on the usage horizon. Pesos intended for expenses in the next few weeks are better kept in a yield account to avoid the cost of double conversion. Medium-term savings may benefit more from being held in dollars or stablecoins against Argentine inflation, although this implies its own platform and currency risks.

What taxes or withholdings apply when buying dollars from a digital wallet?

Withholdings vary depending on the purchase method and current regulations, which change frequently. Before confirming any transaction, it is advisable to check the specific conditions within the app you are using.

Can I automate dollar savings from my phone?

Yes. Some apps allow you to set up an automatic savings in dollars on a daily, weekly, or monthly basis, with no minimums or maximums. The process runs without manual intervention and can be paused or canceled at any time.