Mercado Pago as an investment tool

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Utopos

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Does anyone use Mercado Pago to earn interest on money held there? The 37.3 APR is tempting, and it seems to compound daily. If U.S. banks offered it, I would not hesitate but here? I have no idea how it performs long term, how exchange rate fluctuations affect the yield, etc.

Thoughts anyone?
 
There is that minor detail, Ronnie. <sigh> But the peso cushion we keep in BBVA doesn't earn much, so Mercado Pago can help offset inflation somewhat?
 
M.L it's a money market fund denominated in pesos,interest paid daily, funds can be accessed at any time...I've used it from time to time
 
I keep all the pesos that I'm not using in Mercado Pago, not in the bank. It was great when it was paying 95%/year and the dollar was flat. I still earn a little on it, but not like before. The problem, of course, it that you never want to be holding too many more pesos than you need, just in case the dollar explodes higher like it did a couple months ago.
 
Utopos said:
Does anyone use Mercado Pago to earn interest on money held there? The 37.3 APR is tempting, and it seems to compound daily. If U.S. banks offered it, I would not hesitate but here? I have no idea how it performs long term, how exchange rate fluctuations affect the yield, etc.

Thoughts anyone?
Click to expand...
I mentioned this to my group of Argentine friends and they began speaking of the limitations of the accounts. Something about a ceiling of $600,000 pesos on the interest earning portion. I tried to look it up, but I couldn't find anything confirming it.
 
I've been unable to find anything directly about a total investment amount limit, only on how much can be deposited by various means --- cash (Rapipago etc), debit, direct transfer. According to the site I found (not MP, but using them as the source of info) the investment deposit debit limit/day is $1.5m ARG, with no limit on transfers. Nothing about $600k.

If you keep a few pesos on hand, it seems like a good place to keep them.
 
Utopos said:
I've been unable to find anything directly about a total investment amount limit, only on how much can be deposited by various means --- cash (Rapipago etc), debit, direct transfer. According to the site I found (not MP, but using them as the source of info) the investment deposit debit limit/day is $1.5m ARG, with no limit on transfers. Nothing about $600k.

If you keep a few pesos on hand, it seems like a good place to keep them.
Click to expand...
Maybe the $600,000 amount is an outdated number. I've got more than that earning interest at this moment. At a few points in time I've had more than double that amount, and all earning interest.

I have run up against that daily transfer limit before. I seem to remember that it's just under $1.5m.
 
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