Looking for economics professors, and/or people who have exchanged $ on blue market
- Thread starter Huxley1234
- Start date
El Chabon, you're right, I know personally a guy who was robbed of a serious sum of money (tens of thousands of pesos) because a secretary called ahead to an accomplice at one of the places I describe.
I also know he was using that place for a good 10 years before it happened to him. It's been a bit under 6 years for me using places like that, and I've never been robbed.
I've been told many times, on this forum, when suggesting people go to Florida Street to change money that the same thing will happen, or you will end up getting counterfeit bills, or robbed on the way home by some random event or someone having seen you go into a known arbolito. I've been told that Florida and other places are just too dangerous to use.
I know two guys personally who were robbed at ATM machines (and I've heard many anecdotal stories) back when the blue rate and the official rate were a few cents apart and it didn't make sense to go to all the trouble that many of us go to now to save money at private places to bring it into the country.
ATM, arbolito, private change house: this is Buenos Aires, where peril may await around the corner, and obviously doing anything related to money carries some kind of threat level.
You mentioned withdrawing and keeping 90K somewhere - that seems to me to be a bit of an exaggeration. Personally, I don't even have 90K to my name (even in pesos), much less withdrawn and hoarded somewhere, but every month I need to spend a lot of money on rent, utilities and food and clothes for 4, school for my sister-in-law, the various activities she's involved in, entertainment, just to name a few. My household consists of 5 people (at the moment - usually it's only 4) and $500 USD a week doesn't quite fill the bill.
Even if it did, how would I get that money here to begin with? Even that's over $2000 USD a month (my expenses are a bit larger than that). I can't pull it out of an ATM, I don't have that kind of money stockpiled here (or anywhere for that matter), I can't bring it back from the States (I haven't been back to the States in 4 years - can't afford the travel costs with everything else I have going on), I can't ask friends to bring it down all the time (I don't have enough friends coming down to keep me supplied with maple syrup, much less money) and the cost to go to Colonia and back to get dollars out of an ATM is much worse, all tickets, fees, time and what-not-else included, than using a place like I describe. Zoom is too limited in the ability to get quantities of money here, and it's only in pesos anyway. Also, how much longer are they going to be left alone?
Expats who live here and have to get monthly expenses into the country really should be using a private place. The best private places are guys who work by themselves, or a couple of family members, etc.
The place where my buddy got robbed after leaving was more like the first place I described in my previous post (which I used to use) - a real change house that had a "backdoor" (or in that case, literally a basement) for clients doing international transfers with them. The secretary of the agent who handed him the money took advantage of the opportunity and called ahead to her accomplice.
The place I use now is in an apartment in a high-rise building. I go up to the 18th floor, knock on a nondescript door and am greeted by the main guy or his son personally. I've never seen anyone else in there. A desk in the main room, two bedrooms, one of which is the meeting room and the other their workroom. It's as safe as it can possibly be for what is being transacted - and this guy makes a lot more money off his transactions than he does from potentially robbing people and maybe losing his business - people who get robbed after leaving a place like this shouldn't think twice about suspecting it was him and will most likely never return (I know I wouldn't).
As far as how to balance currency on hand, in country, I don't know how they do it, and I've never asked him. But they do. I know that they receive money and send money. Somehow it has to balance out.
I also suspect that these "little" guys selling pesos on the street (Florida or wherever) work for guys like this or the big change houses. I remember one time I went to change $1000 USD in 20 dollar bills at a place on Florida and the guy I was taken to had to call someone else to get the price - they don't like a lot of small bills. But the point being it was obvious the guy I was doing business with was just a clerk. Hell, I wouldn't be surprised if the private guy I go to is only part of a bigger structure as well.
There are a lot of businesses and private individuals who need to get money out of the country, and that is a supply of dollars (or euros, yuan, what-have-you).
I've heard that people smuggle cash into the country from places like Uruguay (where I send my transfers to about half the time). Smuggled because they can't report the sums they bring in.
These private places do WAY MORE than places on Florida and scattered throughout the city.
I also know he was using that place for a good 10 years before it happened to him. It's been a bit under 6 years for me using places like that, and I've never been robbed.
I've been told many times, on this forum, when suggesting people go to Florida Street to change money that the same thing will happen, or you will end up getting counterfeit bills, or robbed on the way home by some random event or someone having seen you go into a known arbolito. I've been told that Florida and other places are just too dangerous to use.
I know two guys personally who were robbed at ATM machines (and I've heard many anecdotal stories) back when the blue rate and the official rate were a few cents apart and it didn't make sense to go to all the trouble that many of us go to now to save money at private places to bring it into the country.
ATM, arbolito, private change house: this is Buenos Aires, where peril may await around the corner, and obviously doing anything related to money carries some kind of threat level.
You mentioned withdrawing and keeping 90K somewhere - that seems to me to be a bit of an exaggeration. Personally, I don't even have 90K to my name (even in pesos), much less withdrawn and hoarded somewhere, but every month I need to spend a lot of money on rent, utilities and food and clothes for 4, school for my sister-in-law, the various activities she's involved in, entertainment, just to name a few. My household consists of 5 people (at the moment - usually it's only 4) and $500 USD a week doesn't quite fill the bill.
Even if it did, how would I get that money here to begin with? Even that's over $2000 USD a month (my expenses are a bit larger than that). I can't pull it out of an ATM, I don't have that kind of money stockpiled here (or anywhere for that matter), I can't bring it back from the States (I haven't been back to the States in 4 years - can't afford the travel costs with everything else I have going on), I can't ask friends to bring it down all the time (I don't have enough friends coming down to keep me supplied with maple syrup, much less money) and the cost to go to Colonia and back to get dollars out of an ATM is much worse, all tickets, fees, time and what-not-else included, than using a place like I describe. Zoom is too limited in the ability to get quantities of money here, and it's only in pesos anyway. Also, how much longer are they going to be left alone?
Expats who live here and have to get monthly expenses into the country really should be using a private place. The best private places are guys who work by themselves, or a couple of family members, etc.
The place where my buddy got robbed after leaving was more like the first place I described in my previous post (which I used to use) - a real change house that had a "backdoor" (or in that case, literally a basement) for clients doing international transfers with them. The secretary of the agent who handed him the money took advantage of the opportunity and called ahead to her accomplice.
The place I use now is in an apartment in a high-rise building. I go up to the 18th floor, knock on a nondescript door and am greeted by the main guy or his son personally. I've never seen anyone else in there. A desk in the main room, two bedrooms, one of which is the meeting room and the other their workroom. It's as safe as it can possibly be for what is being transacted - and this guy makes a lot more money off his transactions than he does from potentially robbing people and maybe losing his business - people who get robbed after leaving a place like this shouldn't think twice about suspecting it was him and will most likely never return (I know I wouldn't).
As far as how to balance currency on hand, in country, I don't know how they do it, and I've never asked him. But they do. I know that they receive money and send money. Somehow it has to balance out.
I also suspect that these "little" guys selling pesos on the street (Florida or wherever) work for guys like this or the big change houses. I remember one time I went to change $1000 USD in 20 dollar bills at a place on Florida and the guy I was taken to had to call someone else to get the price - they don't like a lot of small bills. But the point being it was obvious the guy I was doing business with was just a clerk. Hell, I wouldn't be surprised if the private guy I go to is only part of a bigger structure as well.
There are a lot of businesses and private individuals who need to get money out of the country, and that is a supply of dollars (or euros, yuan, what-have-you).
I've heard that people smuggle cash into the country from places like Uruguay (where I send my transfers to about half the time). Smuggled because they can't report the sums they bring in.
These private places do WAY MORE than places on Florida and scattered throughout the city.
Rich One said:
I agree with you - I'm betting most wealthy people have bank accounts outside of the country with debit cards. If I were them, I'd be using my private cueva to give me money in country when I needed it, and use my debit cards to withdraw money while I'm out of country.
Hell, some of my ex-programmers (when I had a going business) have accounts in the States and they're not rich. That's how they do it. And I love those guys - I didn't have to pay cash here, I just sent a wire direct to their bank accounts in those cases.
El Chabon, you're right, I know personally a guy who was robbed of a serious sum of money (tens of thousands of pesos) because a secretary called ahead to an accomplice at one of the places I describe.
Risk aversion is best if you don't walk around with big sums and change at different places, at different times and different amounts. Good luck in targetting you
I also know he was using that place for a good 10 years before it happened to him. It's been a bit under 6 years for me using places like that, and I've never been robbed.
Good luck to you but a patern makes you more likely to get targeted
I've been told many times, on this forum, when suggesting people go to Florida Street to change money that the same thing will happen, or you will end up getting counterfeit bills, or robbed on the way home by some random event or someone having seen you go into a known arbolito. I've been told that Florida and other places are just too dangerous to use.
If you get randomly robbed you blame it on you having dollars?
I know two guys personally who were robbed at ATM machines (and I've heard many anecdotal stories) back when the blue rate and the official rate were a few cents apart and it didn't make sense to go to all the trouble that many of us go to now to save money at private places to bring it into the country.
Another advantage, no more trips to the ATM
ATM, arbolito, private change house: this is Buenos Aires, where peril may await around the corner, and obviously doing anything related to money carries some kind of threat level.
So go for the less risky option
You mentioned withdrawing and keeping 90K somewhere - that seems to me to be a bit of an exaggeration. Personally, I don't even have 90K to my name (even in pesos), much less withdrawn and hoarded somewhere, but every month I need to spend a lot of money on rent, utilities and food and clothes for 4, school for my sister-in-law, the various activities she's involved in, entertainment, just to name a few. My household consists of 5 people (at the moment - usually it's only 4) and $500 USD a week doesn't quite fill the bill.
You have the money abroad?
Even if it did, how would I get that money here to begin with? Even that's over $2000 USD a month (my expenses are a bit larger than that). I can't pull it out of an ATM, I don't have that kind of money stockpiled here (or anywhere for that matter), I can't bring it back from the States (I haven't been back to the States in 4 years - can't afford the travel costs with everything else I have going on), I can't ask friends to bring it down all the time (I don't have enough friends coming down to keep me supplied with maple syrup, much less money) and the cost to go to Colonia and back to get dollars out of an ATM is much worse, all tickets, fees, time and what-not-else included, than using a place like I describe. Zoom is too limited in the ability to get quantities of money here, and it's only in pesos anyway. Also, how much longer are they going to be left alone?
Let's say 7000 dollar every 3 months, 2000 dollar profit, i would say it's worth a trip to Colonia
Expats who live here and have to get monthly expenses into the country really should be using a private place. The best private places are guys who work by themselves, or a couple of family members, etc.
Why exactly?
The place where my buddy got robbed after leaving was more like the first place I described in my previous post (which I used to use) - a real change house that had a "backdoor" (or in that case, literally a basement) for clients doing international transfers with them. The secretary of the agent who handed him the money took advantage of the opportunity and called ahead to her accomplice.
If he was changing that kind of money it must have been known before he came, so he will more likely be a target
The place I use now is in an apartment in a high-rise building. I go up to the 18th floor, knock on a nondescript door and am greeted by the main guy or his son personally. I've never seen anyone else in there. A desk in the main room, two bedrooms, one of which is the meeting room and the other their workroom. It's as safe as it can possibly be for what is being transacted - and this guy makes a lot more money off his transactions than he does from potentially robbing people and maybe losing his business - people who get robbed after leaving a place like this shouldn't think twice about suspecting it was him and will most likely never return (I know I wouldn't).
Easy he gets robbed and you as well, difference is he and the robbers share the profits
I also suspect that these "little" guys selling pesos on the street (Florida or wherever) work for guys like this or the big change houses. I remember one time I went to change $1000 USD in 20 dollar bills at a place on Florida and the guy I was taken to had to call someone else to get the price - they don't like a lot of small bills. But the point being it was obvious the guy I was doing business with was just a clerk. Hell, I wouldn't be surprised if the private guy I go to is only part of a bigger structure as well.
Good advice: Dont change 1000 dollar at once but divide into 3 or 4 and use different guys
There are a lot of businesses and private individuals who need to get money out of the country, and that is a supply of dollars (or euros, yuan, what-have-you).
That dollar never makes into the blue
Best for anyone who got money abroad(or earns abroad) and can't fly or doesn't want to fly back to there home country to investigate whether you can open a account in Uruguay and just go there when you need dollars. Other option could be having multiple Credit Cards
Risk aversion is best if you don't walk around with big sums and change at different places, at different times and different amounts. Good luck in targetting you
I also know he was using that place for a good 10 years before it happened to him. It's been a bit under 6 years for me using places like that, and I've never been robbed.
Good luck to you but a patern makes you more likely to get targeted
I've been told many times, on this forum, when suggesting people go to Florida Street to change money that the same thing will happen, or you will end up getting counterfeit bills, or robbed on the way home by some random event or someone having seen you go into a known arbolito. I've been told that Florida and other places are just too dangerous to use.
If you get randomly robbed you blame it on you having dollars?
I know two guys personally who were robbed at ATM machines (and I've heard many anecdotal stories) back when the blue rate and the official rate were a few cents apart and it didn't make sense to go to all the trouble that many of us go to now to save money at private places to bring it into the country.
Another advantage, no more trips to the ATM
ATM, arbolito, private change house: this is Buenos Aires, where peril may await around the corner, and obviously doing anything related to money carries some kind of threat level.
So go for the less risky option
You mentioned withdrawing and keeping 90K somewhere - that seems to me to be a bit of an exaggeration. Personally, I don't even have 90K to my name (even in pesos), much less withdrawn and hoarded somewhere, but every month I need to spend a lot of money on rent, utilities and food and clothes for 4, school for my sister-in-law, the various activities she's involved in, entertainment, just to name a few. My household consists of 5 people (at the moment - usually it's only 4) and $500 USD a week doesn't quite fill the bill.
You have the money abroad?
Even if it did, how would I get that money here to begin with? Even that's over $2000 USD a month (my expenses are a bit larger than that). I can't pull it out of an ATM, I don't have that kind of money stockpiled here (or anywhere for that matter), I can't bring it back from the States (I haven't been back to the States in 4 years - can't afford the travel costs with everything else I have going on), I can't ask friends to bring it down all the time (I don't have enough friends coming down to keep me supplied with maple syrup, much less money) and the cost to go to Colonia and back to get dollars out of an ATM is much worse, all tickets, fees, time and what-not-else included, than using a place like I describe. Zoom is too limited in the ability to get quantities of money here, and it's only in pesos anyway. Also, how much longer are they going to be left alone?
Let's say 7000 dollar every 3 months, 2000 dollar profit, i would say it's worth a trip to Colonia
Expats who live here and have to get monthly expenses into the country really should be using a private place. The best private places are guys who work by themselves, or a couple of family members, etc.
Why exactly?
The place where my buddy got robbed after leaving was more like the first place I described in my previous post (which I used to use) - a real change house that had a "backdoor" (or in that case, literally a basement) for clients doing international transfers with them. The secretary of the agent who handed him the money took advantage of the opportunity and called ahead to her accomplice.
If he was changing that kind of money it must have been known before he came, so he will more likely be a target
The place I use now is in an apartment in a high-rise building. I go up to the 18th floor, knock on a nondescript door and am greeted by the main guy or his son personally. I've never seen anyone else in there. A desk in the main room, two bedrooms, one of which is the meeting room and the other their workroom. It's as safe as it can possibly be for what is being transacted - and this guy makes a lot more money off his transactions than he does from potentially robbing people and maybe losing his business - people who get robbed after leaving a place like this shouldn't think twice about suspecting it was him and will most likely never return (I know I wouldn't).
Easy he gets robbed and you as well, difference is he and the robbers share the profits
I also suspect that these "little" guys selling pesos on the street (Florida or wherever) work for guys like this or the big change houses. I remember one time I went to change $1000 USD in 20 dollar bills at a place on Florida and the guy I was taken to had to call someone else to get the price - they don't like a lot of small bills. But the point being it was obvious the guy I was doing business with was just a clerk. Hell, I wouldn't be surprised if the private guy I go to is only part of a bigger structure as well.
Good advice: Dont change 1000 dollar at once but divide into 3 or 4 and use different guys
There are a lot of businesses and private individuals who need to get money out of the country, and that is a supply of dollars (or euros, yuan, what-have-you).
That dollar never makes into the blue
Best for anyone who got money abroad(or earns abroad) and can't fly or doesn't want to fly back to there home country to investigate whether you can open a account in Uruguay and just go there when you need dollars. Other option could be having multiple Credit Cards
Huxley1234
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El chabon said:
the more answers you guys give, the more questions I have...!
1. I am assuming you mean the best way to bring US cash into Argentina, if you live here full time, is to open a bank account in Uruguay, then take out the cash in USD over there, and bring it back over? Sorry if I mis-understood.
2. Also, how does having multiple credit cards help you? If you are buying ARG stuff with a US credit card, you are still getting screwed on the official rate, no?
My biggest question now is, how would I get USD dollars into the country if I live here, so I can exchange it regularly in a cueva.
Also - thanks to everyone so far for their help.
citygirl
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Usually cuevas will assist you with getting dollars here if they know you.
I have on occasion written a check for X dollars, signed it and left the payee blank and then they gave me the dollars here in Arg. They charge me 3% - no waiting period (they give me the dollars that day). They then later filled in the payee and deposited it in their US account. I can then exchange the dollars to pesos as needed at the blue market rate.
I have on occasion written a check for X dollars, signed it and left the payee blank and then they gave me the dollars here in Arg. They charge me 3% - no waiting period (they give me the dollars that day). They then later filled in the payee and deposited it in their US account. I can then exchange the dollars to pesos as needed at the blue market rate.
1. I am assuming you mean the best way to bring US cash into Argentina, if you live here full time, is to open a bank account in Uruguay, then take out the cash in USD over there, and bring it back over? Sorry if I mis-understood.
that way indeed. Just transfer them to uru and withdraw the amount you need
2. Also, how does having multiple credit cards help you? If you are buying ARG stuff with a US credit card, you are still getting screwed on the official rate, no?
If you go to a ATM you can Probally withdraw something like an additional 1000-15000 dollar or even more. So no need to stay multiple days
My biggest question now is, how would I get USD dollars into the country if I live here, so I can exchange it regularly in a cueva
Take them out in Uruguay take them to Argentina and Change the amount you need. Finding a place that pays close to the blue won't be hard
Also - thanks to everyone so far for their help
no prob
that way indeed. Just transfer them to uru and withdraw the amount you need
2. Also, how does having multiple credit cards help you? If you are buying ARG stuff with a US credit card, you are still getting screwed on the official rate, no?
If you go to a ATM you can Probally withdraw something like an additional 1000-15000 dollar or even more. So no need to stay multiple days
My biggest question now is, how would I get USD dollars into the country if I live here, so I can exchange it regularly in a cueva
Take them out in Uruguay take them to Argentina and Change the amount you need. Finding a place that pays close to the blue won't be hard
Also - thanks to everyone so far for their help
no prob
Right now, cuevas will charge you 0% to bring USD into Argentina. They might pass their cost onto you which might be 30-50 USD to accept the wire but that's it. If you're a regular customer, they might actually pay YOU 0.5-1%.
(wink-wink) Someone I know very well exchanged USD for pesos today (with a respectable cueva) and got a 6.12 pesos/USD rate AND they came to his house to make the transaction. All done safely and within 30 minutes with just a phone call.
(wink-wink) Someone I know very well exchanged USD for pesos today (with a respectable cueva) and got a 6.12 pesos/USD rate AND they came to his house to make the transaction. All done safely and within 30 minutes with just a phone call.
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