Smart money logistics?

[NeoWonk]

My one comment is that I once tried to use a photocopy of my passport to pay with a card at the COTO supermarket and they said I had to have my physical passport.

Me too.

 

[NeoWonk]

duplicate

 

[Neil]

FYI. Transferwise will not work unless you have a local bank account.

 

[HelaineT]

It means either having USD in cash that you can take to a...let's say, "informal" exchange house to get the blue rate. Or you can use a service like Transferwise, Western Union, or Xoom to send USD from your account abroad here to pickup in pesos. They will give you better than the official rate.

All of it depends on what happens in the next few months with currency restrictions.

Got it. Thanks, Dom. I’ve used the “informal” exchange until several years ago.

 

[julian63]

Saturday , October 26 , 2019
10/25/2019 - 15:01
Official dollar
Buy61.00
Sale65.00

INFORMAL DOLLAR
72.50 75.50 8.24%


When the delta between blue and official exchange rates hits 15% (about that now - see above for recent rates), the lost value for receiving US$ 2000 worth of pesos via ATM transactions vs the amount of pesos exchanged for 2000 USD "in hand" via a cueva is about US$300 (and that presumes no transaction fees ala Schwab debit cards). Is that worth a trip to Colonia ? When the delta gets to 25%, which will happen soon after the election, the differential will rise to $500.
You might need multiple accounts with multiple debit cards for trips to colonia as the ATMs usually have a limit (less than 2000) on the amount of USD one can withdraw per day per account at the ATMs.

 

[pennsylvania]

Has anyone opened a USD account in Uruguay recently or knows whether the proof of residency needs to be for an address in Uruguay?

 

[Rich One]

If someone has the time to spend going to Colonia plus the cost of the ferry may be from US$70 to US$100 depending on line and day of the week, etc

A good option if you know some one that needs to buy dollars (an individual/relative your doctor/attorney, your neighbour, your landlord, or cueva/financial outfit) that Will cash your US personal check..! They can deposit your check in their US account the same day with a reader..!

Must ask around and find out . If you know your landlord or someone for a long time...! and are a long time resident here!

 

[gracielle]

Has anyone opened a USD account in Uruguay recently or knows whether the proof of residency needs to be for an address in Uruguay?

I plan to check out Banque Heritage on my next trip to Montevideo.
They offer accounts in UY pesos/US Dollars to Non-Residents who maintain legal addresses outside of Uruguay.

BANQUE HERITAGE URUGUAY

www.heritage.com.uy

"Su Banco Suizo en Uruguay"

 

[HiroProtagonist]

I wanted to visit some neighboring countries anyway, so this could be a good excuse to go.

How do you find an ATM in UR and CL that dispenses USD?

 

[pennsylvania]

I plan to check out Banque Heritage on my next trip to Montevideo.
They offer accounts in UY pesos/US Dollars to Non-Residents who maintain legal addresses outside of Uruguay.

BANQUE HERITAGE URUGUAY

www.heritage.com.uy

"Su Banco Suizo en Uruguay"

The fees are very high for non-residents, 100 USD per month if you keep less than 50,000 USD. Looking at their fees, it's definitely not a bank for mere peasants like myself.