Shitty Experience With Exchange4Free

[khairyexpat]

It used to be less than ONE day to transfer my monthly living expenses from my Canadian account to Argentina.

It has been annoying to repeatedly be asked for the same info over and over again. (but still I must have supplied them with the same info more than 40 times over the years. by email, and in person at “More Argentina” branches )

· Am retired.​

· Don`t work​

· Source of income is pension and retirement savings​

· Reason for transfer: My Argentine living expenses​

· Monthly screen shots of my Canadian Bank account​

· Copies of Passport and DNI​

· I answer their (almost monthly) phone calls to verify that I`m still me ... still retired ... still don`t work ...​

This time I supplied same info, .... but so far it has been the run around ... almost 2 weeks ... they are still holding and not releasing my funds ... $6000 Dollars. Nothing but bunch of dumb emails between X4F and "More" .. each blaming the other.

Am stranded here on a different continent desperate with no access to my account !!!!!!!!

Don`t know what to do !!!!!!!!!!!!

 

[GMXam]

I had the same experience with a transaction I requested early March. After several days of back and forth with multiple versions of forms over 2 weeks, I gave up because the bank was taking forever to review. More cancelled the transaction after 48 hours of no communication. I waited a week, resubmitted the request, they gave me the usual set of forms but this time the representative said I would only have to complete once per year. I sent the completed forms and had my transaction approved within 1 business day (the usual length of time for my bank account to process). I'm not sure why the delays or confusion with my earlier transaction, but it likely had to do with that specific handler of my transaction. Maybe let this one expire and try, again. That will be my strategy if I encounter the same issue in the future. Good luck.

 

[notebook.fix]

There are other ways to get funds into this country without the headaches.

You set up a new account with coinbase.com & get verified attaching your Canadian bank account to it.
Transfer funds into your coinbase account & only buy Bitcoin when you are ready to sell it here in BsAs. There's a bitcoin office two blocks from me where I get Peso$ or Dollar$ within minutes, any time. The transaction fee is usually around 3% of the funds transferred. Easy.

 

[khairyexpat]

Finally X4F representative unblocked and released my transaction to “MoreArgentina” yesterday.

Once the transaction arrived at “More”, they immediately phoned me with what missing documents they needed.
Within minutes I emailed them EXACTLY what they wanted. ... and then walked few blocks to their branch and received my funds.

Even though the transaction has been closed COMPLETE since yesterday, the X4F rep. still sending explanation emails blaming “More”. Quite an argumentative fellow !!!

@notebook.fix: New digital world out there!!!!!
I`m completely illiterate and out of date since 16 years ago.
When I get some time, I will try my luck with this new stuff.
They say you can`t teach an old dog a new trick.

 

[glasgowjohn]

More seem to cause more problems than the other middle men

Smallworld from the UK used to use them for bank transfers but now use Argenper . The waiting time has gone from 3/4 days to 1/2 days. And much less paperwork

 

[GMXam]

Also, I wonder if they have a maximum amount per transaction as they do per month that is flagging you for paperwork.

 

[khairyexpat]

In my case I made 4 transactions @ $1500 each, total 6000 Dollars.
I think I can transfer any limitless number of transactions @ $1500 each.

Don`t think limits/transaction would trigger paperwork.
I think it has everything to do with compliance to the new Governments Money Laundry Laws.
The theme is: ..... they wana know the source of the funds being transferred? Not the amount!

I could be wrong, .... but this how their questions seem to me.

 

[ben]

I've always done this with people I know and trust, and I will probably always do so. At least until the day when it's as easy to wire money here - bank to bank - as it is to wire money from the US to China.

In fact, I have clients who do send money to China using avenues I set them up with.

The only thing the "official" services have going for them is the trust element. Frankly, after all the stories I hear, I trust my own people more.

 

[Rich One]

There are other ways to get funds into this country without the headaches.

You set up a new account with coinbase.com & get verified attaching your Canadian bank account to it.
Transfer funds into your coinbase account & only buy Bitcoin when you are ready to sell it here in BsAs. There's a bitcoin office two blocks from me where I get Peso$ or Dollar$ within minutes, any time. The transaction fee is usually around 3% of the funds transferred. Easy.

Does it also work with a US bank account....??

 

[glasgowjohn]

In my case I made 4 transactions @ $1500 each, total 6000 Dollars.
I think I can transfer any limitless number of transactions @ $1500 each.

Don`t think limits/transaction would trigger paperwork.
I think it has everything to do with compliance to the new Governments Money Laundry Laws.
The theme is: ..... they wana know the source of the funds being transferred? Not the amount!

I could be wrong, .... but this how their questions seem to me.

I think if you do more than 3000 per month they have more paperwork with the Central Bank.