Reliable Way to get USD to Argentina now

[Daniel82]

Hello! I need to send a relative money in USD (they need to actually receive USD and not AR) to pay for something in cash in USD. I am in the US and have accounts in both the US and Europe (not in Argentina) any ideas?

 

[Sojourner]

Hello! I need to send a relative money in USD (they need to actually receive USD and not AR) to pay for something in cash in USD. I am in the US and have accounts in both the US and Europe (not in Argentina) any eideas?

Transferwise can manage this. I think you need to call them to get the USD->USD option made available on their transfer page. Paperwork (provided by you) will probably be required at the receiving bank that certifies the legitimacy of the source of funds. Your relative needs to talk with his/her bank about this and about any limits or surcharges. He/she will need a USD account. There are probably other options but this is the only one I am familiar with (slow but reliably good experience).

 

[Silvie]

If your relative has a local Bank account in USD like Santander, he/she could get an online banking transfer from your USA Bank. To receive the amount in dollars she should contact the "comercio exterior" section of his/her bank and ask for instructions.

 

[HenryNisental]

Do you know what commission daes the Santander Bank charges you for this type of transfer?

 

[cafeamericano]

I think the last time I did a $3,600 transfer and they charged me $40. So net $3,560

 

[HenryNisental]

That is about 1,1 %, very low indeed!!

 

[HenryNisental]

oops

 

[HenryNisental]

I just checked TRANSFERWISE, and they will pay you 83300 AR for a 1000 USD tranfer, plus 22 USD commission!!!

 

[cafeamericano]

Yea their conversion rate sucks. I only use when I need USD. Also keep in mind when the dollars arrive you have to fill out a form online and choose the option "deposito de residente en el exterior". That's the only option that let's you receive dollars. Other options conver to pesos at the official rate. The process for transfering dollars to dollars is a little different than the normal dollars to pesos process. You need a SWIFT code and some other info.

 

[Sojourner]

I just checked TRANSFERWISE, and they will pay you 83300 AR for a 1000 USD tranfer, plus 22 USD commission!!!

Apparently on smaller amounts the percentage commission charge looms larger and probably it is also a factor of exchange rate. As amounts increase the effect of what is essentially a handling fee diminishes when dealing straight USD. Sending 8K USD->USD via ACH, for example, clocks in for $29.05. I didn't check direct wire or USD->ARS. They have a simple & quick page to run varying calculations so you can find out if Transferwise works for you or, as Henry found, is a loser for the task at hand.