$200 Limit Now Includes Card Payments

[Daniel82]

So the 200 USD monthly limit imposed by the government now includes charges in USD made to credit cards (things like Netflix and other subscription services) and charges made abroad on argentinean issued credit cards. This basically means Argentines won’t be able to travel anywhere because I don’t where you can visit for $200.

The problem I am now having is that my argentine clients pay me via PayPal in USD and are now unable to do so. Does anyone know a way around this?

 

[jblaze5779]

No you can spend more than 200 it just goes into your limit for the next month. They don't offer any details as to how much offer your limit you can go.

 

[antipodean]

You can choose to save in USD or spend in USD, but not both - the more you spend the less USD you can buy to save. And spending just got much more expensive for everyone.

Am curious to know how Argentines wanting to move, invest or travel abroad can legally buy more USD than their quotas? Or if literally the only legal option now is electronic card payments. What about ATM operations abroad?

The last 20 years have seen almost every kind of currency restriction imaginable, none of them have worked. How can we expect this set to be any different...

 

[EL_TIGRE_de_Tigre]

So the 200 USD monthly limit imposed by the government now includes charges in USD made to credit cards (things like Netflix and other subscription services) and charges made abroad on argentinean issued credit cards. This basically means Argentines won’t be able to travel anywhere because I don’t where you can visit for $200.

The problem I am now having is that my argentine clients pay me via PayPal in USD and are now unable to do so. Does anyone know a way around this?

I am not sure you have the whole grasp of this?

For example, someone can spend $1K USD in the month of October, 2020. In this example this represents 5 months x $200USD going forward counting against their ability / allocation to buy $200 USD per month. Or put another way, they have used the months of October, November, December, January and February for allocation purposes of buying USD with pesos. They can resume in March, 2021 if no other money is transacted.

Does that help?

 

[EL_TIGRE_de_Tigre]

You can choose to save in USD or spend in USD, but not both - the more you spend the less USD you can buy to save. And spending just got much more expensive for everyone.

Am curious to know how Argentines wanting to move, invest or travel abroad can legally buy more USD than their quotas? Or if literally the only legal option now is electronic card payments. What about ATM operations abroad?

The last 20 years have seen almost every kind of currency restriction imaginable, none of them have worked. How can we expect this set to be any different...

From what I can see, the Argentine who is best positioned to get around this has dual citizenship, a full array of financial products available to them in their other country and the ability to spend without worry.

Example:

EE UU dual citizen. Has bank accounts that are well funded, has a plethora of US credit cards and the ability to spend without it affecting them.

Simply buy what you want when in Argentina on your US credit cards (At official exchange rate unfortunately. And hopefully you have a card with no foreign transaction fees - They are out there.) pay the balance off via your US bank account to your US based credit card provider.

Here is my fear:

Wiring money to yourself in Argentina, to a Argentine bank account or for cash pick up location such as WU is going to attract the attention of taxing authorities ... I see some strict controls about to address this soon. Any thoughts!

 

[Wade K.]

From what I can see, the Argentine who is best positioned to get around this has dual citizenship, a full array of financial products available to them in their other country and the ability to spend without worry.

Example:

EE UU dual citizen. Has bank accounts that are well funded, has a plethora of US credit cards and the ability to spend without it affecting them.

Simply buy what you want when in Argentina on your US credit cards (At official exchange rate unfortunately. And hopefully you have a card with no foreign transaction fees - They are out there.) pay the balance off via your US bank account to your US based credit card provider.

Here is my fear:

Wiring money to yourself in Argentina, to a Argentine bank account or for cash pick up location such as WU is going to attract the attention of taxing authorities ... I see some strict controls about to address this soon. Any thoughts!

So for now Americans sending money to themselves through Western Union aren't affected(yet)?

 

[EL_TIGRE_de_Tigre]

That seems to be the situation.

 

[jblaze5779]

So for now Americans sending money to themselves through Western Union aren't affected(yet)?

Sent some yesterday. So far so good.

 

[Wade K.]

From what I can see, the Argentine who is best positioned to get around this has dual citizenship, a full array of financial products available to them in their other country and the ability to spend without worry.

Example:

EE UU dual citizen. Has bank accounts that are well funded, has a plethora of US credit cards and the ability to spend without it affecting them.

Simply buy what you want when in Argentina on your US credit cards (At official exchange rate unfortunately. And hopefully you have a card with no foreign transaction fees - They are out there.) pay the balance off via your US bank account to your US based credit card provider.

Here is my fear:

Wiring money to yourself in Argentina, to a Argentine bank account or for cash pick up location such as WU is going to attract the attention of taxing authorities ... I see some strict controls about to address this soon. Any thoughts!

I would wonder why the government would discourage Americans and Europeans from coming there to spend money in their economy? Seems they'd want more coming in and spending like crazy.

 

[jblaze5779]

I would wonder why the government would discourage Americans and Europeans from coming there to spend money in their economy? Seems they'd want more coming in and spending like crazy.

Yeah I've been thinking that the whole time. And since pesos are worthless they should have a special crazy dollar/eruo rate to make us bring our dollars here. They print so many anyways why wouldn't they?