New More Money Transfers Notice (Xoom Related)

[sinagua980]

If you haven't been in to Xoom's agent MORE Money Transfers recently, they've finally posted the regulations they have to enforce from AFIP. I found it really helpful, so I wrote it up on my blog for convenience: http://beforeweage.c...xoom-transfers/

MORE MONEY TRANSFERS SERVICE is compelled to request from all its clients (those ordering or receiving money remittances) the following data:

• Full name
• Passport or MERCOSUR ID
• Marital Status
• Address in Argentina
• Telephone number (in Argentina)
• E-mail
• What links you to the sender?
• Activity or purpose of your stay in Argentina
• Purpose or destination of the money of this transaction
• CUIT, CUIL or CDI (if applicable)
• Source of funds involved in this transaction
• If remittances amount is larger than AR $5,000, a sender’s identification number must be provided. Passport, ID Cards, Driver’s License and SSN are equally valid.
• If remittance amount accumulates with previous transfers (on annual basis) a sum larger than AR $40,000, you must provide information about the origin of monies involved, such as: a sender’s bank statement, senders source of income (salary receipt, employment contract).

 

[la_guachita]

Yeah that is why the agents come across like a bad date on the telephone. Worth it though. http://wander-argentina.org/2012/10/xoom-to-wire-transfer-money-to-argentina/

 

[la_guachita]

Didn't realize about the limits either. Yikes -- shouldn't help friends with non-US bank accounts to do transfers anymore.

 

[Flexter]

Does this apply to bank deposits in Argentina via Xoom or just cash pick ups?

In fact, has anyone here done a bank deposit in Argentina via Xoom (especially if over ARS 5000)? If so, did More intervene in the process (eg. request further info like that listed by the OP) or was it processed automatically?

Thanks.

 

[sinagua980]

I've done a bank transfer, but it was just a small amount, less than AR$500. It went through with no problem.

 

[julianelizondo]

Has Anyone done a Xoom Tranfer Recently and found any problems with this new regulations?

 

[2GuysInPM]

just did my first xoom this past weekend, with a small amount ($100 dollars). it was deposited to my AR pesos bank account within 48 hours at a 6.41 exchange, no issues.

 

[Rich One]

just did my first xoom this past weekend, with a small amount ($100 dollars). it was deposited to my AR pesos bank account within 48 hours at a 6.41 exchange, no issues.

Defies my intellect why would some one want to do this at that Inferior Rate...!! Well...

 

[TomAtAlki]

What would you suggest? Bring money in with an ATM machine at official rates and fees?

 

[Hybrid Ambassador]

What would you suggest? Bring money in with an ATM machine at official rates and fees?

Nope,Perhaps the Rich One knows an Exchange place operated by friend of his that
probably offers way more than the Xoom rates. I ask then why not post more in detail about that
favourable rate. He quotes:_Defies my intellect why would some one want to do this at that Inferior Rate...!! Well.._.
Than just posting this remarks seen as looking down on people using the Xoom services,apparently he is much smarter
than anyone else here, He knows how to extract more but he isn't tellin'.. that's my perception after reading his post.....