Newbie 3 Xoom Questions

[jantango]

"After you hit the limit they will ask for proof of income such as bank statements. However if you are living off of your savings and don't currently have an income, you could probably fake these statements."

Oh, really? How?

Bank statements are required after receiving 40,000 pesos in one year to show the source of the funds withdrawn through a transfer agency that are collected in Argentina. More Money transfer is legally required to produce documentation to AFIP.

 

[steveinbsas]

In Argentina there is a limit of something like 40K pesos per year before they start asking you for paperwork. After you hit the limit they will ask for proof of income such as bank statements.

Even if the first XOOM transfer of $2999USD is less than $40,000 pesos (and even if the amount sent is reduced to keep the total under $40,000), I think MORE will require the sender to sign a declaration (dd.jj.) and the sender will be asked to provide the most recent bank statement and possibly additional "evidence" of the source of the funds.

 

[r2d2]

You might also want to consider Ria Money Transfer. I switched from xoom to ria a while back because ria had lower fees and often a better exchange rate.

If you compare the two (I checked the rates today at ~6:20 PM Argentinian time):

Exchange rate: Ria 1 USD = 13.095 ARS vs Xoom 1 USD = 12.6169 ARS

Fees for sending 2999 USD from bank account: Ria 10 USD vs Xoom 30 USD.

So with Ria you end up paying 3009 USD to receive 39271.90 ARS
While with Xoom you would pay 3029 USD to receive only 37838.15 ARS

 

[Traveler999]

r2d2: What location did you pick up your Ria transfer? My last experience using Ria (a year ago or so) it was chore finding an active office from their list.

 

[r2d2]

r2d2: What location did you pick up your Ria transfer? My last experience using Ria (a year ago or so) it was chore finding an active office from their list.

I am not living in Buenos Aires. Here in the west I only have the choice between the (one) local Argenper branch and the Maguiexpress branches. I had always used the Argenper branch without any problems (check http://www.argenper....apital-federal/ for updated opening hours - as the ria site does not seem to be as up-to-date with those details).
Also the last transfers I had deposited directly into my Argentinian savings account, which worked pretty well - though most likely not an option for the OP.

 

[artur]

just to close.. the Pickup was super smooth.. but for my first transaction i was asked to provide copies of my Passport and Bank Statement to send via email to Xoom's Security Support.
thanks everyone!