monthly transfers....

[thebookcellar]

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]

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]

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]

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]

paypal takes 3%

she can do a money gram

fedex cash

or they both get citibank accts and work something out