Foreign credit cards purchases at MEP rate

[carride]

but I'm wondering why the rates are so slow to catch up?

The exchange rate used with foreign credit cards is the MEP rate minus 5-7% that card companies take as their cut. So MEP last night of 507.12 minus the visa conversion web page rate of 477.94 is 5.754% less than MEP Wolfram convert to percent

Visa FAQ What_is_the_meaning_of_Dollar_MEP_aka_Mercado_Elec
What is the meaning of Dollar MEP (aka "Mercado Electrónico de Pagos" or "Dólar Bolsa")?

It is the dollar exchange rate that can be accessed through the buying and selling of certain Argentine bonds that are quoted both in pesos and dollars. You can buy that security in pesos and sell it at its equivalent in dollars, or vice versa. It is a legal transaction, similar to "Contado con Liquidación" or CCL (Blue Chip Swap). This exchange rate is published throughout the country's main media on a daily basis, and is subject to daily variations.

 

[sdsurfista]

Using the COPA airlines website will I be charged pesos or dollars buying a one way ticket to the US from Argentina ?

 

[JonJLA]

The exchange rate used with foreign credit cards is the MEP rate minus 5-7% that card companies take as their cut. So MEP last night of 507.12 minus the visa conversion web page rate of 477.94 is 5.754% less than MEP Wolfram convert to percent

Visa FAQ What_is_the_meaning_of_Dollar_MEP_aka_Mercado_Elec
What is the meaning of Dollar MEP (aka "Mercado Electrónico de Pagos" or "Dólar Bolsa")?

It is the dollar exchange rate that can be accessed through the buying and selling of certain Argentine bonds that are quoted both in pesos and dollars. You can buy that security in pesos and sell it at its equivalent in dollars, or vice versa. It is a legal transaction, similar to "Contado con Liquidación" or CCL (Blue Chip Swap). This exchange rate is published throughout the country's main media on a daily basis, and is subject to daily variations.

This is correct. That’s the rate I’m getting on all my credit card purchases

 

[sdsurfista]

This is correct. That’s the rate I’m getting on all my credit card purchases

I got 625 at the airport yesterday using VISA current blue is 730/740

 

[barbablanca]

A sad milestone today. WU rate of GBP is over 1000 pesos. Que país!

 

[carride]

Yes the difference between the WU and Credit cards has separated quite a bit recently. WU tracks the CCL which is why they are both around 793 ars per 1 Usd. Even after paying WU fee, that is more than an extra 100 pesos per 1 Usd compared to the MEP and credit cards of ~678. The convenience of CC which I liked the past months is now less attractive.

 

[Quilombo]

I was in a pinch and needed cash last night, and realized I could use MercadoPago to do so via my foreign card and sending money to my husband. It was instant, and there were fees, but it worked. $33.91 USD got me $20,000 ARS, including the MP 8.XX% fee. Not ideal, about $589.80 pesos per dollar, but if you need cash and can't wait for WU it works.

 

[FrankPintor]

I was in a pinch and needed cash last night, and realized I could use MercadoPago to do so via my foreign card and sending money to my husband. It was instant, and there were fees, but it worked. $33.91 USD got me $20,000 ARS, including the MP 8.XX% fee. Not ideal, about $589.80 pesos per dollar, but if you need cash and can't wait for WU it works.

Isn't that a bit risky, given that (as far as I know) MP shares everything with AFIP?

 

[Quilombo]

Isn't that a bit risky, given that (as far as I know) MP shares everything with AFIP?

It's not illegal to have a foreign bank account, only if you're using it to evade taxes here, and even then, same level of risk as WU since everything is trackable via a UIF subpoena if AFIP really wanted to chase people for $40 bucks.

It also won't save my card because it says it's not mine (even though it is) and that's against the BCRA rules apparently, and for ID I used "other" and put in a bunch of random numbers and it worked anyways.

 

[007gaucho]

If you need cash urgently you can use the cajero at Banco Galicia.. you can withdraw up to 40,000 pesos in one go and it charges a fee about 3500.. it converts close to MEP rate