Paying for foreign purchases with Arg debit card

jblaze5779

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Finally got my Brubank account up and running. Took them forever to verify all my docs and then I had to also wait for my new DNI since my old was expired (only took 3 months).

Tried the WU/Solidarity switcharoo on a 5 dollar amazon gift card this morning and everything went flawlessly. I bought the card effectively for $4.03 for a savings of $0.97 or 19.4%.

Probably start paying all my US bills/purchases with my Arg debit card now.

BBVA, despite me actually going to the bank a few times to get them to figure out the issue, was never able to complete a foreign purchase with the debit card.
 

sneakrnet

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Tried the WU/Solidarity switcharoo on a 5 dollar amazon gift card this morning and everything went flawlessly. I bought the card effectively for $4.03 for a savings of $0.97 or 19.4%.

Probably start paying all my US bills/purchases with my Arg debit card now.
What's the WU/Solidarity switcharoo? And what advantage do you have paying your US stuff with an Argentine debit card?
 

Rich One

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What's the WU/Solidarity switcharoo? And what advantage do you have paying your US stuff with an Argentine debit card?

The advantage is: (WU peso rate) minus - (official peso rate times x 1,65) equals say aprox. ($224 - $ 178 ) equals $46 pesos per dollar ?
 

jblaze5779

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What's the WU/Solidarity switcharoo? And what advantage do you have paying your US stuff with an Argentine debit card?
Bring pesos from WU to Arg. Buy things outside the country with pesos at the official rate. There's a gap there that is a savings to you.
 

Sequoia1321

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Bring pesos from WU to Arg. Buy things outside the country with pesos at the official rate. There's a gap there that is a savings to you.

Are there maybe tax consequences to doing this, for example, it being counted as a foreign currency trade, profit?
 

Edu R

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you will be charged + 30% +35% on top of the oficial rate if you use arg card outside. Look for : impuesto PAÍS, ganancias.
Yes, but even with all those surcharges, the rate still works out at around 180 pesos, which is what's called "Dolar Solidario". Add to that the 1% for Ingresos Brutos if you live in CABA.

Are there maybe tax consequences to doing this, for example, it being counted as a foreign currency trade, profit?
Gun to my head, I would say yes, there's no free lunch.
 

SecretShopper

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If that's the case, wouldn't most foreigners who are I'm the know attempt this? I'm surprised there aren't any examples of potential consequences or if nothing has ever happened.
 

Edu R

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If that's the case, wouldn't most foreigners who are I'm the know attempt this? I'm surprised there aren't any examples of potential consequences or if nothing has ever happened.
If what were the case?

A lot of people don't read forums like these, a lot of foreigners don't have local bank accounts and/or debit/credit cards, a lot of people just pay cash only.

On the flip side, a lot of people go the extra mile and bring USDs through WU or at CCL rates, buy dólar MEP or solidario if they have access to it, withdraw it in cash and then repeat the cycle. Many times they do this through multiple family members, I know of at least a few cuevistas who will offer you a cut if you're willing to use your DNI to do it for them.

There's an entire gray economy of people taking advantage of Argentina's ridiculous exchange rate system in extremely obvious and traceable ways, and AFIP will do nothing about it. Until they do.
 
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