Foreign credit cards purchases at MEP rate

[grosso95]

Did another charge using rappi with visa card and it was exactly 729 as shown in https://dolar-turista.fiservargentina.com/

Seems like visa is the way to go as mastercard takes a bit to adjust the charge too and in my case I don't see the exact amount refunded until I get my bank statement.

 

[007gaucho]

Arrived in BA today. Called uber from ezeiza and paid with card no problem, got the mep rate with visa.
I was looking for a banco galicia atm just for a quick cash run waiting for monday. I tried 3 banco galicias around palermo and no cash on any of them, only the one next to alto palermo shopping had cash but it only let me withdraw 20000 instead of the reported 40k max.
Charges 3600 comission and gives close to mep rate, I got 730 per dollar unfortunately all in 500 bills.

I was able to exchange a 100 usd bill in "cambio berlin" near alto palermo shopping as well. (for 740 rate since it was a sunday and cuevas "protect" themselves on weekends and give you a worse rate).
Seems like the best option is to always pay with card, too bad there are no atms that can dispense a high amount of high denomination bills. If there was an atm with a 80-100k limit close to the mep rate like banco galicia it would be perfect.

The 20k limit might be a limit you have on your card. You might want to check that.. with a visa debit from Wise I can withdraw 40k at close to MEP rate with a 3600 comisión.

 

[lunar]

The 20k limit might be a limit you have on your card. You might want to check that.. with a visa debit from Wise I can withdraw 40k at close to MEP rate with a 3600 comisión.

... had cash but it only let me withdraw 20000 instead of the reported 40k max.
... dollar unfortunately all in 500 bills.

ATMs have a limit of dispensing 40 notes at a time. If loaded with 500-peso notes, you can withdraw 20,000 pesos maximum. If it were loaded with 1,000-peso notes, you could withdraw 40,000 pesos.

 

[grosso95]

^Thanks. At least that's a useful thing in order to hunt down an atm that dispenses high denomination bills. In theory it can go up to 80 000 now when 2000 notes are more common then, I don't know when that will be.

 

[sdsurfista]

729 on two tiny cabify transactions friday using a US based visa credit card

 

[FrankPintor]

729 on two tiny cabify transactions friday using a US based visa credit card

723 on a small ice-cream transaction at Cremolatti yesterday (Sunday). I don't understand what rate is being applied to CC transactions, the MEP rate was almost exactly 700.

Right now, I understand Visa immediately applies its more favourable rate, MC takes a few days, and Amex takes weeks or months to reimburse the difference. It's not limited to US cards either, the Cremolatti CC was an Uruguayan one with an associated USD account (not mine).

 

[carride]

Right now, I understand Visa immediately applies its more favourable rate, MC takes a few days

This is always my experience as well. I often reference the visa online calculator which is static for each day, based on the previous days close, and does not change sat-mon. The Mastercard calculator does not work, though the charge is very close to the visa rate when I look back once the refund is applied to my card days later. It has been ~729 all weekend.

I don't understand what rate is being applied to CC transactions, the MEP rate was almost exactly 700.

I do not understand either. The calculator had been matching the MEP minus 4-7% whenever I looked in the past, though since last week the CC has been better than MEP. As reported by yourself and other here recently. I had understood the MEP is set from a bond priced in pesos and its difference priced in dollars. In the past explained as the GD30/AL30 bonds. There are other MEP rates from similar transactions of t-bills and other bonds, so maybe the CC rate has moved to a different MEP? Rava publishes a few.

Rava Bursátil - Dolares

Seguí la evolución de los tipos de cambio que existen en el mercado: dólar oficial, dólar mayorista, MEP, CCL, variantes con bonos AL30, GD30 y Cedear.

www.rava.com

MEP LEDE $790,70 Relación entre la Letra del Tesoro Nacional (normalmente se toma la de vencimiento más corto) que cotiza en pesos y el mismo instrumento en dólares (con liquidación local).

 

[carride]

Today the Visa credit card calculator is back below the MEP. Though only 2.7% below. 709.83 - 2.7% Calculator shows 690.98 fixed for all CC transaction today

 

[WoodbridgeNJ]

I'm using a visa card from Australia the good rate is charged straight away and so far its about 92 % what I would get transferring money from Australia through western union not including fees. Very convenient I won't even have to bother with WU

 

[grosso95]

I was going to give an update on current MEP charge but it seems rappi will not accept my card anymore. Worked fine for a day and then it rejects all my cards even when I already did the authentication process. I contacted support and no luck.