The above info on HSBC is spot on. The balance requirement mentioned is for the US/UK based account. An HSBC Premiere account in Argentina has no such requirement, you will just have to pay a monthly service fee which is approx. AR$250+VAT (21%).
As noted above, if you will use the local accounts it may be a good deal, as you will be able to enjoy discounts and the zero interest installment plans for purchases, but if you will have only a small amount of movements then it will end up costing quite a bit.