Everything About Sending Money Out Of Argentina

[quilleroarg]

Whats the best way to transfer $2500 from my dollar savings account in Argentina to the exterior to make a payment? Safe, fast and low cost.

I'm not in Argentina at the moment and I don't have a foreign account.

I did not quite understand what you need. You have a "caja de ahorros en USD" here in Argentina, and need to pay someone abroad. Maybe I can help you with that. Also, I'm in Capital Federal, where are you located?

 

[sts7049]

this seemed like the best thread to share this story on, for those of you looking to transfer money out of argentina to the USA. my experience today was shockingly easy and fast.

i had a coworker recently do a wire of dollars to his US bank, so i was fortunate to have a guide on what to do. he uses the same bank here that i do, banco frances. so he gave me the form i needed and showed me what to fill out. i walked into the bank this morning around 1030 and handed it over to the bank. about an hour later i noticed the money was debited from by USD account. i checked my US bank just now and the deposit transaction is pending. so in 8 hours i had the money in my USA account.

i am shocked at how quickly the process went. i fully expected it to be processed after the strike and holiday...but i am truly impressed.

so, for anyone looking to transfer out of argentina, it really isn't that difficult to do. experience may vary depending on the bank, i guess.

 

[earlyretirement]

this seemed like the best thread to share this story on, for those of you looking to transfer money out of argentina to the USA. my experience today was shockingly easy and fast.

i had a coworker recently do a wire of dollars to his US bank, so i was fortunate to have a guide on what to do. he uses the same bank here that i do, banco frances. so he gave me the form i needed and showed me what to fill out. i walked into the bank this morning around 1030 and handed it over to the bank. about an hour later i noticed the money was debited from by USD account. i checked my US bank just now and the deposit transaction is pending. so in 8 hours i had the money in my USA account.

i am shocked at how quickly the process went. i fully expected it to be processed after the strike and holiday...but i am truly impressed.

so, for anyone looking to transfer out of argentina, it really isn't that difficult to do. experience may vary depending on the bank, i guess.

Yes, now under Macri really it has simplified. Under CFK it was IMPOSSIBLE dealing with the banks but the process is very simple now. As long as the source of the money origin can be verified (they will have you fill out a form indicating where the funds came from). As long as you have that, you won't have any problems.

The big issue with MANY locals is they don't declare their income or have "black" funds and they can't hassle with the bank as they don't want them snooping. But the past several transfers I've done after I sold properties was very quick and easy.

 

[quilleroarg]

this seemed like the best thread to share this story on, for those of you looking to transfer money out of argentina to the USA. my experience today was shockingly easy and fast.

i had a coworker recently do a wire of dollars to his US bank, so i was fortunate to have a guide on what to do. he uses the same bank here that i do, banco frances. so he gave me the form i needed and showed me what to fill out. i walked into the bank this morning around 1030 and handed it over to the bank. about an hour later i noticed the money was debited from by USD account. i checked my US bank just now and the deposit transaction is pending. so in 8 hours i had the money in my USA account.

i am shocked at how quickly the process went. i fully expected it to be processed after the strike and holiday...but i am truly impressed.

so, for anyone looking to transfer out of argentina, it really isn't that difficult to do. experience may vary depending on the bank, i guess.

Impressive! How much did you pay for the wire?

 

[sts7049]

Yes, now under Macri really it has simplified. Under CFK it was IMPOSSIBLE dealing with the banks but the process is very simple now. As long as the source of the money origin can be verified (they will have you fill out a form indicating where the funds came from). As long as you have that, you won't have any problems.

The big issue with MANY locals is they don't declare their income or have "black" funds and they can't hassle with the bank as they don't want them snooping. But the past several transfers I've done after I sold properties was very quick and easy.

i didn't even have to fill a form explaining the source of the funds. i presume because it was already in my dollar account here it didn't matter to banco frances?

 

[sts7049]

Impressive! How much did you pay for the wire?

well, i'd prefer not to say exactly but i will say it was a tiny amount. not significant at all really.

 

[quilleroarg]

maybe percentage-wise, for your own safety?

 

[earlyretirement]

i didn't even have to fill a form explaining the source of the funds. i presume because it was already in my dollar account here it didn't matter to banco frances?

Yes, if you already had funds in your account that explains why you didn't have to fill out a form. But typically when you make a larger deposit into your account (I can't remember the amount but I think it was over $10,000 US) I typically have to fill out a pre-filled form with a check-box stating where the funds came from. For example, on the last apartment I sold it had a check box for property sold and it asked for the address.

I wired out around $250,000 USD and IIRC, I paid about 0.5%. I believe the other times I wired out as well it was about 0.5% or so. All the times I wired out, the funds showed up in my account in the USA within 48 hours.

 

[sts7049]

percentage i think is even less than 0.5%. around 0.2%. i will see exactly what amount ends up after the transaction posts, in case my US bank deducts anything further.

 

[earlyretirement]

percentage i think is even less than 0.5%. around 0.2%. i will see exactly what amount ends up after the transaction posts, in case my US bank deducts anything further.

If it was that cheap maybe it was because your amount was so small.