Transferring Money out of Argentina

[Davidglen77]

There is a legal easy way to this through a bank. It will involve opening an account, etc here and in the US at the same bank. How much money are we talking here?

Not a huge amount, around $150K. I have an account here of course, everything is en blanco. I never went the en negro route and that is the reason I probably never have had problems with AFIP the couple of times I have bought and sold property here. However since I am thinking of leaving permanently I would be transferring my money back to the US this time.

 

[nikad]

Not a huge amount, around $150K. I have an account here of course, everything is en blanco. I never went the en negro route and that is the reason I probably never have had problems with AFIP the couple of times I have bought and sold property here. However since I am thinking of leaving permanently I would be transferring my money back to the US this time.

I just PMed u David.

 

[palermo_ms]

There is a legal easy way to this through a bank. It will involve opening an account, etc here and in the US at the same bank. How much money are we talking here?

I don't think this would work - tried to do a similar thing through HSBC here & my UK account to pay off part of my student loan. Computer very definitely said no! If you find a way, I'd be very interested in finding out how!

 

[Silvi]

I spoke to my escribana the other day regarding this same issue. I have no plans of selling my apartment but if I did, because it was purchased en BLANCO, I would have no problems sending the money back to the U.S. I would recommend using a Casa de Cambio, I used them for my purchase here in Argentina...everything was done in blanco with a complete paper trace...if you are interested in the name, PM me.

 

[fuccolini]

if anyone is transferring in ---> i'm transferring out <--- trade.

 

[oksanache]

A separate question. I am selling my house in Buenos Aires and I am lucky to have a buyer with a Swiss bank account who can transfer money anywhere I tell him to. My undertanding is the money should not be taxed if I choose to bring it back to the US (I transfered it FROM the US originally for the purchase of real estate here, it was my only residence fpor the past 2 years, and now I sold it and am bringing the money back to the same bank account in the US) Am I correct in assuming so?

 

[el_expatriado]

A separate question. I am selling my house in Buenos Aires and I am lucky to have a buyer with a Swiss bank account who can transfer money anywhere I tell him to. My undertanding is the money should not be taxed if I choose to bring it back to the US (I transfered it FROM the US originally for the purchase of real estate here, it was my only residence fpor the past 2 years, and now I sold it and am bringing the money back to the same bank account in the US) Am I correct in assuming so?

My understanding is that in the USA, there are no capital gains on the sale of your primary residence.

I am 90% sure the law says you have to receive the money here in Argentina when you sell the property. I think they changed the rules on this a few months ago. You will need an escribano who is willing to look the other way (i.e. put that he paid you cash in the escritura).

 

[tonylace]

The way I transfer money back to the US on a monthly basis is via Paypal. I have a Paypal account both here in Argentina and in the US. My Argentine Paypal account is linked to my local Citibank credit card and my US Paypal account is linked to my bank account in the US. I've been here since October 2010. Previously, I could send up to $1.000 USD/transaction without the transaction failing. Now, however, I have to call Citibank just prior to doing the transfer and the transaction goes through (recently transferred $2.000 USD with a pre-approval from Citi). This is not a cheap option, however. You'll take haircut of about $60 USD per $1.000 USD, but I found it's the least hassle way to go about it on a monthly basis (all from the comfort of my own home and no need to wait in line anywhere). I'm not sure if Citibank would allow a large transfer though or if Paypal has a single transaction amount limit (there probably is around a $5.000 USD limit per transaction). Good luck!

 

[Hop]

The way I transfer money back to the US on a monthly basis is via Paypal. I have a Paypal account both here in Argentina and in the US. My Argentine Paypal account is linked to my local Citibank credit card and my US Paypal account is linked to my bank account in the US. I've been here since October 2010. Previously, I could send up to $1.000 USD/transaction without the transaction failing. Now, however, I have to call Citibank just prior to doing the transfer and the transaction goes through (recently transferred $2.000 USD with a pre-approval from Citi). This is not a cheap option, however. You'll take haircut of about $60 USD per $1.000 USD, but I found it's the least hassle way to go about it on a monthly basis (all from the comfort of my own home and no need to wait in line anywhere). I'm not sure if Citibank would allow a large transfer though or if Paypal has a single transaction amount limit (there probably is around a $5.000 USD limit per transaction). Good luck!

There was a report on another thread that someone's employee was doing this and had paypal blocked on his credit card. Have you experienced any changes with this system recently? I did a test transfer of $10 USD successfully, but the second one i did a week ago for $500 USD still hasn't shown up on on the CC bill yet, though the funds showed up immediately in my paypal account.

 

[allcraz]

There was a report on another thread that someone's employee was doing this and had paypal blocked on his credit card. Have you experienced any changes with this system recently? I did a test transfer of $10 USD successfully, but the second one i did a week ago for $500 USD still hasn't shown up on on the CC bill yet, though the funds showed up immediately in my paypal account.

I'm curious about this, too. We did the PayPal transfer thing once last month with my husband's Amex. It was $600 and worked fine. I just got a new Visa through Banco Frances and tried to do a transaction with mine, and it didn't work. (The card is good to go - activated and everything). The paypal code came through on my statement to verify the card, but I couldn't transfer $1300 or $1000. I haven't tried another amount. I called Visa and the woman said that the transaction wasn't allowed because it was seen as a personal money transfer (yes) and that the credit card could only be used to buy goods, not make money transfers??? Anyone had a similar problem???