Sending money from Western Union to Argentine bank account

[HectorH]

Just wondering, if I send money to a friend's bank account via WU, would he get asked questions about it by the bank or would it be just as easy as picking it up in cash?

 

[Rich One]

Perhaps, its better to pick it up in cash. New AFIP/ local IRS regulations mentions that banks have to report all transfers and deposits for over $200,000 AR.

 

[Neil]

Just wondering, if I send money to a friend's bank account via WU, would he get asked questions about it by the bank or would it be just as easy as picking it up in cash?

I think W.U wants both sender and reciever's bank acct. To be the same...person. You might have problems

 

[steveinbsas]

I think W.U wants both sender and reciever's bank acct.

Based on my experience, WU only wants the sender's and/or the reciever's bank account numbers if the funds are being sent to the sender's and/or the receiver's bank accounts. If the sender pays in cash at a WU agency and the funds are being picked up at a WU agency there is no requirement to provide the bank account information.

To be the same...person. You might have problems

My first two WU transfers were sent to me by my sister in law. She paid in cash at a WU agency and I picked up the funds in cash at a WU agency. No bank acount numbers were requred and we are obviously not the same person.

I imagine that only a very small percentage of all WU transfers involve indivuals sending money to themselves...

I am just happy that it is permitted.

 

[lunar]

Perhaps, its better to pick it up in cash. New AFIP/ local IRS regulations mentions that banks have to report all transfers and deposits for over $200,000 AR.

These rules are not new, they just made the limits higher to account for the inflation. Before, the minimum reporting amount was around 80 thousand pesos.

 

[Ciro]

Based on my experience, WU only wants the sender's and/or the reciever's bank account numbers if the funds are being sent to the sender's and/or the receiver's bank accounts. If the sender pays in cash at a WU agency and the funds are being picked up at a WU agency there is no requirement to provide the bank account information.



My first two WU transfers were sent to me by my sister in law. She paid in cash at a WU agency and I picked up the funds in cash at a WU agency. No bank acount numbers were requred and we are obviously not the same person.

I imagine that only a very small percentage of all WU transfers involve indivuals sending money to themselves...

I am just happy that it is permitted.

Can you please confirm if a person in the US sends dollars to a person in Argentina with an AR bank account denominated in dollars, will Western Union deposit the dollars into the recipient's Argentinean bank account, allowing the recipient to withdraw them in USD? Thank you.

 

[lunar]

Can you please confirm if a person in the US sends dollars to a person in Argentina with an AR bank account denominated in dollars, will Western Union deposit the dollars into the recipient's Argentinean bank account, allowing the recipient to withdraw them in USD? Thank you.

You can receive only pesos. When money is sent to a bank account, Western Union converts the funds from dollars (or any other currency) into pesos according to their internal exchange rate, and then deposits the pesos into the recipient's account.

 

[Quilombo]

Can you please confirm if a person in the US sends dollars to a person in Argentina with an AR bank account denominated in dollars, will Western Union deposit the dollars into the recipient's Argentinean bank account, allowing the recipient to withdraw them in USD? Thank you.

If you want to do this you can, but the fees are pretty high as it needs to be a SWIFT transfer and both outgoing and incoming banks charge fees for this, plus you'll need to code the BCRA form correctly so the transfer isn't pesified. As of present it's still better to just send pesos via WU and buy dollars on Florida Street if the person really does need dollars

 

[FrankPintor]

If you want to do this you can, but the fees are pretty high as it needs to be a SWIFT transfer and both outgoing and incoming banks charge fees for this, plus you'll need to code the BCRA form correctly so the transfer isn't pesified. As of present it's still better to just send pesos via WU and buy dollars on Florida Street if the person really does need dollars

26,000 Pesos charges, fees, and taxes on a SWIFT transfer of USD 3000 to a USD account here, plus sending and intermediary bank fees, if applicable. I don't know if I was charged a flat fee, or a percentage. All legally declared for AFIP, and my bank was indeed picky about the code that needed to be in the description field of the invoice declared to AFIP.

 

[Ciro]

If you want to do this you can, but the fees are pretty high as it needs to be a SWIFT transfer and both outgoing and incoming banks charge fees for this, plus you'll need to code the BCRA form correctly so the transfer isn't pesified. As of present it's still better to just send pesos via WU and buy dollars on Florida Street if the person really does need dollars

26,000 Pesos charges, fees, and taxes on a SWIFT transfer of USD 3000 to a USD account here, plus sending and intermediary bank fees, if applicable. I don't know if I was charged a flat fee, or a percentage. All legally declared for AFIP, and my bank was indeed picky about the code that needed to be in the description field of the invoice decla