Does Anyone Need Pesos?

[cwo4uscgret]

A point of clarification; I am a retired CBP Officer, here's more information about the $10K reporting requirements; they are US Treasury Law not Customs - CBP is empowered to enforce over 40 different government agencies laws at the border...

Splitting money up amongst a family or group of travelers is called structuring and that is illegal bring "negotiable financial" instruments into the U.S.

It is not illegal for someone, an individual, to bring more then $10,000 into (or out of) the U.S., the law's only requirement is that you must declare it. Technically you don't even have to give a reason why you have that much money with you.

What's a negotiable financial instrument you ask? It can be cash, bearer bonds, signed blank checks or signed checks made out for "cash", etc. If you had a certified check for $10,000,000 USD made payable to you and it is not endorsed you do not have to declare it; but if you've endorsed it then you must declare it. Pretty simple; the only penalty is if you fail to declare it or structure it you can (and pretty much guarantee it) forfeit all of the money with you. When you declare in excess of $10K you are escorted to a private area, the dollar amount is confirmed, a Treasury form is completed, and you are on your way.

It really is that simple....declare it, walk on with it. Fail to declare...bye-bye money.

 

[citygirl]

It really is that simple....declare it, walk on with it. Fail to declare...bye-bye money.

Wellllll..not quite that simple. People here have very real reasons for not wanting to declare it LEAVING Argentina. Let's just say that the Customs officials here are not the easiest to deal with and that people also have concerns about it being stolen.

On the other hand, I would have no concerns declaring it when entering the US or the UK.

 

[ben]

As far as exchanging USD is a crime, I suggest to go on by PM.

I've never heard this quite so clearly. Two private individuals exchanging currency I've always thought is a grey area. Is it indeed criminal, and where is it described as such?

 

[cwo4uscgret]

Wellllll..not quite that simple. People here have very real reasons for not wanting to declare it LEAVING Argentina. Let's just say that the Customs officials here are not the easiest to deal with and that people also have concerns about it being stolen.

On the other hand, I would have no concerns declaring it when entering the US or the UK.

citygirl I speak only for entering or leaving the U.S. not Argentina or other countries. I know that Argentina is pretty strict on currency and how much you can travel with. My step-son and his wife (Colombians) live and work in Argentina and they keep us in the know about those things!

 

[camel]

Splitting money up amongst a family or group of travelers is called structuring and that is illegal bring "negotiable financial" instruments into the U.S.

It is not illegal for someone, an individual, to bring more then $10,000 into (or out of) the U.S., the law's only requirement is that you must declare it. Technically you don't even have to give a reason why you have that much money with you.

Is bitcoin a negotiable financial instrument?

 

[wineguy999]

Is bitcoin a negotiable financial instrument?

One of the bitcoin developers was turned away in Seattle, arriving to the US with mucho bitcoin credit (or dollars, or...whatever) and only $600 cash. The customs agents were thoroughly baffled by the whole idea.

 

[Bajo_cero2]

I've never heard this quite so clearly. Two private individuals exchanging currency I've always thought is a grey area. Is it indeed criminal, and where is it described as such?

http://www.cooperacion-penal.gov.ar/userfiles/ley19m359_0.pdf

 

[Gringoboy]

As far as exchanging USD is a crime, I suggest to go on by PM.

One of very few countries in the civilised world where exchanging currency with friends, colleagues or any other means besides through the thieving state is considered a crime and yest we all do it, they know we do it and it's the Argentine way. No, let me correct that, it's a pretty basic human right.
Honestly Bajo, you're like a tired old record stuck in the same old groove.

 

[ajoknoblauch]

Honestly Bajo, you're like a tired old record stuck in the same old groove.

And the scratches obscure the lyrics.

 

[Joe]

Bajo is a lone-Peronist fighting a Neo-Liberal Lynch Mob