Foreign credit cards purchases at MEP rate

lunar said:
If the system will be operating ...
Please correct me if I am wrong, but so far, it is just talk and there is no legal basis.
It still can go as a story about a special Tourist Bank Account that ended up nowhere.
Click to expand...
On the other hand one must figure out the total exchange rate for CC overseas charges . In my case with BofA USA must add the local fees plus the Bank charges for international card use. Perhaps MoneyGram is more convenient...? Must check. Some banks do reimburse the overseas charges.
 
Rich One said:
Must check. Some banks do reimburse the overseas charges.
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They introduce the charges, then they reimburse them. Nice.

It is not so much about what the government can do to the "tarjeteras" - Visa and Mastercard. Back in 2014 Russia forced the card companies to use the national payment system, for example. So, I assume the Argentinean government can introduce a special exchange rate and make Visa and Mastercard to honor it.

However, it kind of opens a discussion about what is a standard exchange rate and what is a special one. If Visa gives 300 pesos for a dollar, how come local banks give only 150? Is it a discrimination against the general population? Does not look like an exceptionally good play with upcoming elections.
 
brandon said:
Just saw this on my Google news feed
No real facts or sources sited
But says it works!

https://www.traveloffpath.com/argen...-rate-will-effectively-double-your-cash-back/
Click to expand...

They quote BA Times. BA Times says, "The Central Bank published the measure in Thursday’s edition of the Official Gazette". The Official Gazette is apparently "Boletín Oficial de la República Argentina". Searching by word "extranjera", I can see that the Central Bank did publish an official statement last Thursday about tourists and foreign cards. And it is the same statement from the BCRA site that that people here mentioned before.

The statement, essentially, says that companies that sell to foreigners and receive profit in USD accepting foreign cards don't have to convert it to peso anymore. I don't know how do you get from it an idea that MEP rate will be applied to foreign card purchases. Maybe, people who write for all these newspapers and claim that "it works!" have much better deduction skills.
 
I couldn’t resist joining in on this frivolous fun, as my local McDonalds installed the touchscreens and contactless payments today. I Was charged the official rate equivalent. (~$100ars per $1 Aud), should be closer to $200ars using the MEP. I’m on a tourist visa . Used my Australian visa credit card . So seems it still isn’t working ..
 
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