monthly transfers....

thebookcellar

Registered
i work with an argentine lady whose son lives in New York. Monthly she deposits a U$S1000 into his account here. But for him to take the money from an ATM in NY costs him U$S10 a hit.

She asked me if i knew how she could send money to his account over there (a US account) that does not cost so much...

I guess there would be Argentine and US regulations to deal with and percentages and commisions all over the place - but, as i said to her, i am sure there is some people on this site who regularly transfer money.

I am sorry i can not clarify the situation more - but i promised her i would try and find out!

Thanks
 

davonz

Registered
the easiest way is to just take as much as he can at a time out of the ATM in NY and then use cash for everything or open a US bank account and deposit the money into it..
I am from NZ, and every time i take money out in europe i am charged $5 service fee and then a commission on exchange rate, so i would always take out Euros 600 at a time, is was the max amount, which would then drop the percentage i was paying in fees...
Here it is different, as i can only take out 300 pesos at a time from ATM, so i bring cash and travellers cheque we me.. and then use credit card for big purchases..
 

mini

Registered
She could use PayPal through her credit card which is more expensive than via a bank account. I don't know if/how you can attached Argentine bank accounts to Paypal. She could pay him via Paypal and the could attach his US bank account to his paypal account.
 

igor

Administrator
thebookcellar said:
But for him to take the money from an ATM in NY costs him U$S10 a hit.
If at least some part of this $10 charge comes from ATM owner bank, he can try to find a surcharge-free ATM. He can check Credit Unions nearby, or Allpoint Network.
 

arty

Registered
paypal takes 3%

she can do a money gram

fedex cash

or they both get citibank accts and work something out
 
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