Safer To Use A Money Transfer Service Or Bring Cash

[Joe]

Given Kate's report of a new scam to relieve Argentina bound travelers of their cash, is it safer to use a money transfer service or bring cash?

Please comment on any money transfer services that you have used and if it worked well or there were problems.

For me I have used Xoom (I have used three locations: Main office on Libertad, Belgrano and in Rosario, Santa Fe province)
I have not had any problems. I got my money in 3 hours or less after I made the request.

To me holding a large amount of cash and the associated worries does not overcome the better rate that cash offers compared to what Xoom offers. You can misplace the cash, someone has the key: a former tenant (maid, property manager, former mistress of property manager, etc) home invasion, burglary, etc.

Advantage of cash is better rate of exchange and no risk of identity fraud, internet scam.

Here's some other money transfer services (no recommendation, since I've never used them):

1. Azimo
   
2. Ria

 

[Lulu-Kyoko]

I transfer the USD I need to my Argie friend's bank account in the US. He gives me dollars here and then once a week I change them on Florida at the office of a travel agent.

 

[Chet]

I had no problems bringing in cash and a couple others I know report the same, but possibility of problems is certainly there. Even if you bring in cash and have a good place to store it (like a safe) seems like eventually you will need to transfer some.
Obviously the standard atm is a losing proposition with the exchange rate.
I figure I will eventually try xoom but then I worry about just walking out of the offices with whatever amount as well as hacking and identity issues.
Another option might be bitcoin, buy from a bank account and then sell locally for pesos. Same problem with getting the pesos tho, have to walk away from the deal with more cash than I like to carry around.

 

[Chet]

I voted no opinion because I really think both methods have a down side, just different ones.

 

[Girino]

You can misplace the cash

Seriously?! You can't blame anybody but you, then!

someone has the key: a former tenant (maid, property manager, former mistress of property manager, etc)

Rule 1: First thing to do when you rent a place: change the key! Or have the door lock combination changed, which is cheaper and just as effective (I paid ARS 80, against ARS180 for a new door lock).

home invasion, burglary, etc.

That I can give it to you.

 

[thorsten]

I think money transfers using Xoom for example is always a bit safer, the question is how much and is it worth the vig... If you look at the Xoom/Dolarblue rate today, you pay basically 15% for a 1000$ transfer using the cheaper bank account method.

 

[Joe]

I think money transfers using Xoom for example is always a bit safer, the question is how much and is it worth the vig... If you look at the Xoom/Dolarblue rate today, you pay basically 15% for a 1000$ transfer using the cheaper bank account method.

I'm not sure it is fair to compare with the Dolarblue rate because I have never gotten that rate on the street - has anyone?

 

[thorsten]

I was using the mean between compra and venta on dolarblue. In my cuave, I typically get that or a tick more.

 

[joemama]

Personally, I feel that cash is safer, plus you get a better exchange rate. So for me it is a no-brainer.

If you bring cash you are the only one that knows you have it. If you use a transfer service there are multiple people that know that you have the money, so they could theoretically nail you after you pickup the money, maybe even hours or days later.

Personally I'm more worried about being targeted due to that specific information than I would about random pickpockets/scammers like the one mentioned in the other post. Sure that might happen here and there, but I would guess that it is is relatively rare. I've heard multiple stories of people getting robbed after leaving cuevas/exchange houses. I know one guy that got robbed of like 30k USD while making a real estate transaction. He picked up the money at the bank and got mugged just after leaving the bank. The guys obviously knew he had the money.

With cash I guess the biggest risk is one's self. After a long sleepless flight I tend to get kinda groggy.

 

[ajoknoblauch]

I'm not sure it is fair to compare with the Dolarblue rate because I have never gotten that rate on the street - has anyone?

I have gotten the day's dólar blue rate at an import-export business downtown, but it's one I can't reveal for confidentiality reasons.