Mercado Pago - Can I top my account up using a foreign debit card?

[crabbycrabcrab]

Hi Wondering if anyone has done this or can check if possible!

I want to get a Mercado Pago, I will get my DNI first. Once i have my account running. Can i top up ARS using a foreign debit card like from my Norwegian bank account? If so are there fees etc?

What the best way to top up?

Any insight appreacited!

 

[Che1990]

No, but you can save your foreign card to your MP account and make QR payments and transfers to other people’s accounts using that.

QR payments are free, it charges the card rate (MEP -7%). Last time I transferred to an account it cost 10%.

The easiest way to top up MP at the best exchange rate is via Binance and Crypto. Use your Norwegian card to buy USDT, sell those in the Binance’s p2p for ARS.

Stick to small amounts to avoid problems with AFIP.

 

[crabbycrabcrab]

Thanks so much for the reply!

So if i don't mess around with crypto, I can just attach my card to my MP account? It will just cost around 10% to send my euros for example to a friend and then can send back and i'll have ARS in my account?

 

[Che1990]

Yes, but just be aware that bank accounts are monitored by the tax authorities and the limits are low. Friends may not want to receive your EUR https://www.infobae.com/economia/20...eras-digitales-desde-que-monto-las-supervisa/

The best way, in my opinion, is to buy USDT and sell those for USD cash or peso cash at a casa de cambio.

If you have money abroad, avoid using bank accounts in Arg.

 

[crabbycrabcrab]

Hmm, ok so if I do above i'll have ARG in my mercade pago account? Which i can then use for online transactions and the likes?

thanks again!

 

[Che1990]

You can use your Norwegian card for online transactions and things like Rappi without linking it to an account

 

[crabbycrabcrab]

Sorry. i dont understand. I can't use my card with some vendors. I need ARG ideally with a Argentina card

 

[steveinbsas]

If you have money abroad, avoid using bank accounts in Arg.

This is arguably "good advice" for those who are engaged in money laundering or tax evasion. Otherwise, Argentine bank accounts are fine to use when bringing in money into the country from abroad.

 

[crabbycrabcrab]

This is arguably "good advice" for those who are engaged in money laundering or tax evasion. Otherwise, Argentine bank accounts are fine to use when bringing in money into the country from abroad.

I not interested in again dodgy. I just want to get hold of ARS in a bank account by topping up with money from my home country.

 

[Che1990]

I not interested in again dodgy. I just want to get hold of ARS in a bank account by topping up with money from my home country.

Then the only way I know of is buying USDT and selling those USDT via a p2p for pesos in Binance. Or using Western Union or Remitly, but I don't think they work for Mercado Pago, only traditional bank accounts.

It's not dodgy, I raise the point of AFIP as many people from other countries don't realise their accounts can be tracked and are reported for reasonably low amounts, less than $350 USD.

I know several people who had their MP accounts blocked for receiving funds and not being able to justify them. You'd be fine as long you have the paper trail to present, but this kind of bureacorcacy can be a headache in Argentina.

Just someething to keep in mind if you transferring in regularly, at some point, you may be required to present paperwork so it's good to keep track and keep things in order from the get go.