Paypal question

[expat0tree]

In order to receive money from a European employer (dollar transfers) do I open an Argentine Paypal account and link it to an Argentine bank account? Or do I still need a NUBI type system in between in order to be able to use that money here in Argentina? I'm asking because NUBI wants their commission + IVA and this would suck considering that I would probably also have to pay AFIP as a monotributo, or is there a better way of doing this now? Maybe Paypal isn't the best route? Thanks.

 

[HenryNisental]

I do not think you need anything more than your passport as an ID. They will wire the money and you can collect it at MORE shops.
I did it many times that way. They will charge a comission tough.

 

[expat0tree]

They will wire the money and you can collect it at MORE shops

You mean I can collect PayPal money at a physical location other than the bank? Please explain.

 

[HenryNisental]

Yes, there is a chain of branches of MORE INC in the city, you can go to any of them. If the amount is large you will be sent to the main offices in down town, since the smaller branches do not carry large amounts of USD. there is also a company named PAYPAL ARG, and also PAYONEER and NUBI ARG.

 

[expat0tree]

there is also a company named PAYPAL ARG, and also PAYONEER and NUBI ARG.

Any idea which one of them takes the smallest commission?

 

[steveinbsas]

Any idea which one of them takes the smallest commission?

It also might be useful to know (in advance) what kind of information regarding the origin of the funds they require,

If you are sending money to yourself from a foreign bank account in your name, they will all ask for some documentation.

I dealt with MORE a number of times when sending funds to myself via XOOM.

There were two forms to be completed. One was a declaration that I was not a "political"person.

The other was for details about the sender and the recipient and it was always a bit annoying.

I didn't have any problems as I was sending funds from a foreign bank account in my name to an Argentine bank account in my name I could attach PDF files of monthly statements from both accounts.

Transferring funds got a LOT easier when I switched to Transferwise. They have never required that I submit any signed fores, but I don't think they have locations in Argentina to pick up the cash in person.

When I was living in Capital I dated an Argentine woman who had worked in Spain and had undeclared money in a bank there,

In order to get the money into Argentina (sp she could use it as a down payment to buy an apartment) she went to Spain and b it back in a brought it back in a money belt.

The amount was less than ten thousand dollar so she didn't have to declare it. That was in the days an apartment in Tigre could be bought for $33,000 USD (and she had a mortgage for the balance).

Hopefully, you wont have to resort to such drastic measures.

It would be lot easier if you could find a seller of a rural property who could accept payment in the USA,.

Unfortunately, I only know of one.

 

[expat0tree]

Tigre could be bought for $33,000 USD

Wait some years and you could buy an apartment in the flooded Tigre for less than that, Rio Parana doesn't seem to be getting smaller and authorities aren't in a hurry to upgrade the failing infrastructure there.

 

[steveinbsas]

Yes, there is a chain of branches of MORE INC in the city, you can go to any of them. If the amount is large you will be sent to the main offices in down town.

I previously mentioned that completing the required forms and submitting them to MORE (jpegs) was annoying, but I want to add that the employees I dealt with (assuming at the main office in Capital Federal) were very efficient and courteous and answered all of my emails very quickly.

That being said, I have been much happier using Transfer Wise to act as the intermediary to send funds from my US bank to my bank in Argentina, as I haven't had to print, sign, and send any forms. Eventually, they asked for my ID, but that was easy to photograph and send to them

PS: XOOM and MORE may have improved their service since I last used it in May of 2018, but Transferwise won me as a customer with a better exchange rate and a much simpler transfer process.