Sending money from Western Union to Argentine bank account

[Ciro]

If I understand right, as of today, to receive 3.000USD in AR:
26.000 pesos=52 USD + My sending bank 50 USD SWIFT fee=102USD=3.4% of 3000USD, is that right? And then the recipient can withdraw 3000 USD at WU's exchange rate?

 

[FrankPintor]

If I understand right, as of today, to receive 3.000USD in AR:
26.000 pesos=52 USD + My sending bank 50 USD SWIFT fee=102USD=3.4% of 3000USD, is that right? And then the recipient can withdraw 3000 USD at WU's exchange rate?

The 26,000 Pesos were deducted from my Peso account here, and I can withdraw the USD as USD (I'll verify this next week, but they're sitting in my USD account here now). Again, I don't know if the fee is a percentage. There are limits on how much you can bring in like that, again, I'm not sure what they are, and they could vary by bank.

 

[Ciro]

The 26,000 Pesos were deducted from my Peso account here, and I can withdraw the USD as USD (I'll verify this next week, but they're sitting in my USD account here now). Again, I don't know if the fee is a percentage. There are limits on how much you can bring in like that, again, I'm not sure what they are, and they could vary by bank.

Thank you. I meant 3.4% would be, as of these days, the final cost adding the different actors in this transaction.

 

[oldgringo]

I just started sending money to my wife's bank account as the amount of money was getting just to high. I get an email from western union to register for the bank transfer and it sends me to a link but all the link says i it is an unsafe link and wont let me proceed. The transfer went through without problem Did everybody else get this same email and is it for tracking purposes. I would like to use this method but don't want the gov to know how much money I send I believe they wanted her to register not me

 

[Quilombo]

I just started sending money to my wife's bank account as the amount of money was getting just to high. I get an email from western union to register for the bank transfer and it sends me to a link but all the link says i it is an unsafe link and wont let me proceed. The transfer went through without problem Did everybody else get this same email and is it for tracking purposes. I would like to use this method but don't want the gov to know how much money I send I believe they wanted her to register not me

Yes, it's the KYC/anti-money laundering form we all had to complete after 3 transfers, it's the same as this one here: https://www.pagofacil.com.ar/APN/declaracion.php

The recipient (your wife) has to complete it, si o si to continue receiving transfers via Western Union/Pago Facil and it's the same requirement at other companies such as Moneygram or Xoom, it's the government, not the company's policy. That being said, if you don't want it to be tracked, you'll have to do something such as crypto p2p with cash pickup in person because even transferencias will be linked to her CUIT, but given that I still haven't seen a single $2,000 bill yet I'd prefer to not walk around with wads of cash, but that's just me.

Also, you shouldn't get the security alert with the link above I shared, the reason the other alert is popping up is because Pago Facil's SSL certification expired on July 1st it looks like, they probably didn't enable auto-renewal with their domain host, while this one is from their main Pago Facil site.

Hope this helps!

 

[FrankPintor]

Thank you. I meant 3.4% would be, as of these days, the final cost adding the different actors in this transaction.

OK, so final step performed today, I went to my bank to withdraw 2k of the 3k I'd had sent via SWIFT to my USD account here last week, short wait while they got the greenbacks out of the safe, sign receipt, and go.

BTW, if anyone wants a nice "cueva" in Belgrano, Casa de Cambio Belgrano are at Echeverria 2429 (corner of Cabildo). I walked in, asked if they could buy USD 2k, the nice girl says "no problem", waves her hand at the suggestion of showing ID, and counts out the blocks of banknotes for me. Tip: bring a non-descript bag to carry the loot. Exchange rate was 484 Pesos/Dollar, 5 (1%) less than the blue rate. I still haven't seen a $2000 Peso note

All in all, an unexpectedly problem-free series of transactions.

 

[Lex]

Has anyone on this forum actually been investigated/questioned by AFIP regarding money sent to their Argentine bank account via WU? I read a lot of comments of concern about it (esp if over the now 200k amount), but no confirmation of anyone ever having a problem.

 

[Stantucker]

Once a quarter my bank here (Banco Provincia) asks for my bank statements in the US so they can see that the funds sent via WU came from my own account. Once when I was sending large sums of money via WU, the bank asked me, on behalf of the AFIP, to justify the origen of those funds.

 

[Lex]

Once a quarter my bank here (Banco Provincia) asks for my bank statements in the US so they can see that the funds sent via WU came from my own account. Once when I was sending large sums of money via WU, the bank asked me, on behalf of the AFIP, to justify the origen of those funds.

Thanks Stan. After justifying the origin, any further issue? E.g., AFIP not trying to tax you on it? Also, may I ask what you had to supply to justify the origin?

This is as I figured. Justification of origin is surely all AFIP can ask for. And this should be no issue for most, assuming the money is already in the banking system and you've paid tax on it at origin if required. It's effectively a bank to bank transaction. So AML is covered. Maybe it's different if you're sending physical cash (but most aren't, they doing via debit/credit card or bank account). Also, when you send money via WU, the only option for purpose of transfer is "family support" (at least that's all I see). There must be thousands of Argies having money sent to them from overseas via WU et al. And surely the govt is happy to welcome that money into the country? So I don't see what all the concern (dare I say paranoia) is about. I stand by to be enlightened...

 

[HectorH]

Just sent 150000 pesos to my friend's account here. Waiting to see what happens. Will it just arrive without them having to do anything, or do they need to contact the bank?