Foreign credit cards purchases at MEP rate

[sneakrnet]

Los turistas ya reciben los reintegros por el mejor tipo de cambio para compras con tarjeta

An update in La Nación today, with a very confusing, incomplete and contradictory explanation of how Visa is handling this.

It first says that it is handling refunds of the excess amounts for purchases made since December 2, but only after signing some documentation that they are sending to people who made purchases. I don't know how they would send me such documentation.

It then goes on to say that Visa is going to apply the higher rate directly, without rebates (unlike MasterCard), but it doesn't say when, or how, or if you have to sign something first.

According to the article, the rate they are paying at the moment is about 7% below the MEP.

I suppose for tourists who are only coming for a few weeks and don't have time to research what we know, or don't know where to look for the information, this is a good thing.

For me, it's good to know that this alternative exists, but I'll stick to cash unless I have a dire emergency.

 

[che]

I am back in town for few weeks. Since Thursday I used uber tied to my US MC with no foreign fees. Looks like I am being charged 169 pesos to $1USD.

Trip 1 1940 pesos = on my card $11.43
Trip 2 2040 pesos = $12.01
Trip 3 1470 pesos = $8.66
Trip 4 1480 pesos = $8.76

 

[Fiscal]

I went to Osaka and used my credit card, $375 USD. So nope

 

[barbablanca]

I created an account just to reply to this thread, which I've been following. I've made two transactions with my GBP MasterCard:
1. For £13.33 on Dec 2 at 17h47 online to Flybondi (ARS 2,717)
2. For £3.14 on 8 Dec at 12h47 in person at La Anonima supermarket (ARS 645).

I'm wondering if I'm the only one here who hasn't got the refund on MasterCard yet...
These inconsistent results make it hard to plan.

 

[barbablanca]

Finally!
I have received a refund 9 days after the purchase.
MasterCard debit with no conversion fees, nominated in GBP.
Purchase made on rate £1=ARS 203
Refund came in USD(!), converted to GBP by the bank resulting the final rate to be £1=ARS 359
Which is roughly 9% lower than WU rate on the day.

To me personally it sounds like a backup, not an every day option.
For tourists coming for a week or two it very well may be a deal breaker, it would be for me.

 

[Maikito]

Finally!
I have received a refund 9 days after the purchase.
MasterCard debit with no conversion fees, nominated in GBP.
Purchase made on rate £1=ARS 203
Refund came in USD(!), converted to GBP by the bank resulting the final rate to be £1=ARS 359
Which is roughly 9% lower than WU rate on the day.

To me personally it sounds like a backup, not an every day option.
For tourists coming for a week or two it very well may be a deal breaker, it would be for me.

Even with the WU fee?

 

[mariusdr]

I'm wondering if I'm the only one here who hasn't got the refund on MasterCard yet...
These inconsistent results make it hard to plan.

They do take their time depending on the card type (e.g. Starling bank was much faster than Curve). But I think you'll get it soon!

 

[mariusdr]

Finally!
I have received a refund 9 days after the purchase.
MasterCard debit with no conversion fees, nominated in GBP.
Purchase made on rate £1=ARS 203
Refund came in USD(!), converted to GBP by the bank resulting the final rate to be £1=ARS 359
Which is roughly 9% lower than WU rate on the day.

To me personally it sounds like a backup, not an every day option.
For tourists coming for a week or two it very well may be a deal breaker, it would be for me.

Happy to hear this! To mention, I also received a refund for my £13.33 (ARS 2,717) transaction that I made online on Dec 2nd. I got back £5.71 (received it in $ and got converted to £). Just to mention, this credit card issuer is notoriously slow on most things, so I'm not that surprised of the delay.

Anyway this proves you can get money back from purchases made online too, not only in person!

 

[Maikito]

Fun fact or data point. I had to make a en emergency purchase of a set of JBL active noise cancelling Bluetooth EarPods at the AEP duty free. I paid with my Apple Card (MC) 103 USD. Mind you, I paid in USD, not ARS because I didn’t have my Mercado Pago card with me. I was just refunded and the purchase ended up being 58.61 USD. I was not expecting a refund because I paid in USD. Does this mean that at the duty free in Argentina, even if you pay in USD, their POS system pesifies it?

 

[Che1990]

I just posted another thread about a related but different question, but yes I recieved a refund through Wise for MC transaction. It said the refund was issued from Capital Federal, so I'm guessing the 2 feriados last week played a part in the delay.