Getting pesos OUT?

[buzz]

Lots of discussion about getting dollars in at the best exchange rate, but what about getting pesos out? And when it is held in cash and not a bank account?

What options are there? Interested in any discussions especially the following...

- Buy cryptos, move to foreign exchange and sell? Bitcoin ATM?
- Western Union Argentina to Western Union Offshore? Any restrictions?
- Buy stock trading on Argentinian Exchange, move securities to NYSE (same stock) and sell for dollars (would require bank/brokerage account). USD10k per month limit?
- Convert pesos at the bank to USD cash? Give someone USD cash here and get them to send you USD to offshore account>?
- Convert pesos at cueva and receive USD cash or get USD deposited to offshore account?
- Find someone who needs pesos and get them to transfer USD cash to offshore account?

Thanks.

 

[nikad]

Lots of discussion about getting dollars in at the best exchange rate, but what about getting pesos out? And when it is held in cash and not a bank account?

What options are there? Interested in any discussions especially the following...

- Buy cryptos, move to foreign exchange and sell? Bitcoin ATM?
- Western Union Argentina to Western Union Offshore? Any restrictions?
- Buy stock trading on Argentinian Exchange, move securities to NYSE (same stock) and sell for dollars (would require bank/brokerage account). USD10k per month limit?
- Convert pesos at the bank to USD cash? Give someone USD cash here and get them to send you USD to offshore account>?
- Convert pesos at cueva and receive USD cash or get USD deposited to offshore account?
- Find someone who needs pesos and get them to transfer USD cash to offshore account?

Thanks.

Depends on the amount to be honest. I would go with the last 2 options, or the first one.

 

[London2Baires]

This will also depend on if the funds you hold 'in cash' have a paper trail and are 'en blanco'.

Sounds shady, but good luck in any case

 

[Caribbean Cool]

For a country hungry for dollars the situation originally presented only makes sense in one context....and not one to go near with a ten foot pole.

 

[jblaze5779]

Best way I've found is to have Americans coming back and forth who need pesos while theyre here. Serve as an atm for them and sell them your pesos for dollars but have them transfer the dollars from their US to your US account.

 

[buzz]

Thanks for suggestions. Nothing malicious. All above board. I guess for expats they are generally only concerned with getting money in, for 'locals' it would be the opposite.

 

[bobsnowpuppy]

I actually looked into this last week. Western Union charges a 10% fee to move pesos to the US. The conversion rate depends on the moment you present the pesos at Western Union. $239,000ARS transaction limit, I don’t know if there is a monthly limit.

FYI Western Union in Argentina will not accept US dollars, only pesos to send. It will then presumably be converted to your country of receipt currency.

 

[Caribbean Cool]

Are there people who would want a U.S. dollar deposit into their U.S. bank account every month in exchange for pesos? This board would be equivalent to setting up yet another exchange medium. I am moving to B.A. on February 1st. Let' say $1000 to $2000 for a working number. The question then is at what conversion rate.....Official 60....blue 65.... W.U. 65.....W.U. cash 75 ????????? (And yet another exchange mechanism is born)

 

[jblaze5779]

Yes there would be

 

[bobsnowpuppy]

Are there people who would want a U.S. dollar deposit into their U.S. bank account every month in exchange for pesos? This board would be equivalent to setting up yet another exchange medium. I am moving to B.A. on February 1st. Let' say $1000 to $2000 for a working number. The question then is at what conversion rate.....Official 60....blue 65.... W.U. 65.....W.U. cash 75 ????????? (And yet another exchange mechanism is born)

You might pm “Ben” on this board.