Best way to transfer USD/EUR for house/land purchase?

BAHibs

Registered
Galicia. I know this bank imposes a 10K limit and at least sometime in the past so did Wise, possibly out of knowledge of the bank limit, possibly for their own purposes. Obviously what is in play is the 10K reporting level in regard to money laundering. Over 10K and governments take notice.
How smooth have the transfers up to 10k been?

I'm looking to transfer around 10k now and Transferwise and Revolut are a couple of options.

(Thanks a lot to everyone for the suggestions so far!!)
 

Sojourner

Registered
How smooth have the transfers up to 10k been? I'm looking to transfer around 10k now and Transferwise and Revolut are a couple of options.
Once you've got the account details set up,Transferwise is very simple to use but not fast. Funding by ACH withdrawal, which was what I routinely used to pull money from a USA checking account, took around 7 - 8 days for a transfer to complete. Some of this delay was due I think to slow action at the destination bank but I was never sure.

"Reliable" probably best describes the service, and Transferwise is good about keeping you current on the status of a transfer. I don't know if transfers would have been faster if they had been USD > ARS instead of USD > USD though I don't know why that would make a difference.

Other funding types (debit card, credit card, wire transfer, Apple Pay) might be markedly quicker or not. Speed is not particularly an issue however if your primary concern is the maximum transfer limit of 10K per calendar month.
 
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BAHibs

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So after a chat with the Real Estate agent they have given me the contact details of a Financial Company that has an account in Miami, I transfer from Europe to them and they give me the cash here. Don't have the name but I'll ask my girlfriend for it and post it when I have it.


The transfer cost looks to be around 1 - 1.5% so not too bad.

I'm using Transferwise for the transfer from my bank to the US as the exchange rate and currency conversion costs with HSBC are daylight robbery.

The main concern with other methods was the possible "pesification" of funds, no one was sure what would happen with a EUR or USD transfer to a USD account of someone that's not my wife etc.
 

BAHibs

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Well today I signed the deeds for my plot of land.

I used a "financiera" for the transfer of money from the US to Argentina, it went very smooth, as soon as he had confirmation of the cash in his account in the US I had dollars in my hand in Buenos Aires the next day.

He only charged 1% which I thought was great, if anyone needs to use him in the future send me a message and I can share his contact details.


Unless the laws have changed since the last time I sold property (to an umarried couple) in 2010, when two parties who are not married (or members of the same family?) buy a property jointly, one of the parties can only own a maximum of 25% share of the property and this will be clearly shown on the escritura.

If anyone can confirm this or has updated information, I hope they will reply to this post.

It would be interesting to know if the individual who owns the larger share has the power to sell a property without the consent of the other party (who's signature I imagine would be required to sell the peoperty).
To come back on the above, at least in the Buenos Aires province, a 50/50 split between two unmarried partners is no problem now.
 

BAHibs

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If I may ask, are you planning on building a home on your terreno or what is the plan?
Yeah we're going to build a home on it.

We'd looked at houses in the area but the prices are high for what you get, we found land in a nice area of the town and we know someone well who constructs houses so thought it was the best way to go to get a place where we wanted.
 
Yeah we're going to build a home on it.

We'd looked at houses in the area but the prices are high for what you get, we found land in a nice area of the town and we know someone well who constructs houses so thought it was the best way to go to get a place where we wanted.
Not only that, but you will get to have the exact design and floor plan that you desire.
 
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