How To Use Paypal To Get Money Out?

[esllou]

I saw it mentioned in a thread the other day about using PayPal to get money out of the country.

My wife has an Argentina PayPal account, but I'd presumed it was basically useless with all the restrictions govt. regulations foisted upon it. Is that not true?

she has Argie CC and debit cards. Could she add money to her PP account using those cards and then use PP to send the money to my UK PP account? How much roughly would she lose along the way?

Thanks for any info on this.

 

[Sleuth]

Yes, she can do this. From my understanding, the 20% fee for international charges would apply as well as PayPal fees. The only benefit to doing this comes from having blue market dollars to pay off the local credit card here.

For example, assume she sends U$S 1000 to your UK account from her Argentine credit card. She gets charged U$S 1200 on her credit card bill and you end up with U$S 960 in your account ($1000 minus estimated PayPal fees). When her credit card statement comes, she owes ARS $6120 (U$S 1200 * $5.10). You have sold dollars at the blue rate of ARS $8.00 though, so that ARS $6120 is actually U$S 765. You've just made over 25%...

Now, keep doing this and there will be no doubt that AFIP will come and look through her finances and want to know why she is spending so much on her credit card. This is a hassle that a lot of people will not want to deal with. Also, if your goal is to get money out of the country, this may not be the best option.

 

[irina]

I hope it works! We set my husband up with a paypal account last week to make a purchase from an online retailer based in the States, the card was charged and everything looked fine, for about an hour. Then he got an email saying his account was permanently frozen and there would be no option to appeal it. I called anyway on his behalf and they were unable to let us know the reason, then blamed it on information not matching up (which was untrue, everything was accurate, I quadruple checked). The man helping me seemed so uncomfortable about it all and in the end it just ended in my husband's paypal account (where he used an Argentine cc) is now permanently banned. Seemed a bit fishy to me

 

[Splitty]

Just don't ask for the 20% back and you should be OK with AFIP. With Paypal USA you can run up to $20k per year without them informing the IRS.
This method is not for large amounts, but every bit helps.

 

[nikad]

I saw it mentioned in a thread the other day about using PayPal to get money out of the country.

My wife has an Argentina PayPal account, but I'd presumed it was basically useless with all the restrictions govt. regulations foisted upon it. Is that not true?

she has Argie CC and debit cards. Could she add money to her PP account using those cards and then us PP to send the money to my UK PP account? How much roughly would she lose along the way?

Thanks for any info on this.

Paypal dollar 6.38$ - this includes all the fees, ie PP fees, 20 per cent bs, etc -as long as she sends to a foreign PP you are basically buying dollars at that rate. Go for it. I have been doing it for a long time.

 

[DerAchtundzwanzig]

Yup, I do the same thing. We either buy ourselves Euros with our Argentine CCs that we get in a French PayPal account, or I send money to my mother in the US to her PayPal account, also using an Argie credit card. AFIP won't give a shit if you don't ask for the 20% back.

 

[esllou]

Paypal dollar 6.38$ - this includes all the fees, ie PP fees, 20 per cent bs, etc -as long as she sends to a foreign PP you are basically buying dollars at that rate. Go for it. I have been doing it for a long time.

so the method I described would work? She has an option to add money to her PP argie account using a CC/debit card - I'm not sure about that as I've only ever used my PP account in UK to receive money, never added to it using a card.

then she just sends that amount to my UK PP account?

this won't be big amounts, 500 bucks a month, something like that, there are no proceeds of house sales to get out the country or anything like that.

 

[nikad]

I hope it works! We set my husband up with a paypal account last week to make a purchase from an online retailer based in the States, the card was charged and everything looked fine, for about an hour. Then he got an email saying his account was permanently frozen and there would be no option to appeal it. I called anyway on his behalf and they were unable to let us know the reason, then blamed it on information not matching up (which was untrue, everything was accurate, I quadruple checked). The man helping me seemed so uncomfortable about it all and in the end it just ended in my husband's paypal account (where he used an Argentine cc) is now permanently banned. Seemed a bit fishy to me

Weird, sometimes new accounts have restrictions. That could be one reason.

 

[Splitty]

Send a request for payment from your UK PP. I would leave the Argentine Paypal out of it.
Get on it right now as the black witch is having a meeting in Olivos as I type, so expect the official dollar to climb very soon.

 

[nikad]

so the method I described would work? She has an option to add money to her PP argie account using a CC/debit card - I'm not sure about that as I've only ever used my PP account in UK to receive money, never added to it using a card.

then she just sends that amount to my UK PP account?

this won't be big amounts, 500 bucks a month, something like that, there are no proceeds of house sales to get out the country or anything like that.

It will work. Just do the " make payment " option. Do not try to load money, just make a payment, she is paying for a service, let´s say consulting, no shipping. I have been doing it for saving purposes. I do not like to be told by any government how or where I can save my money. Go for it. Make sure you verify your credit card first with Paypal. In general Visa is anal and they run random scrubs, if her transaction is not approved, get her to call her bank and Visa. If you use Master is much easier.