TransferWise comes to Argentina

[deadOA]

TW is disappointing me big time.

Yesterday I spent the whole day up to the highest level in casa central Banco La Nacion (BNA). BNA left no stone unturned (surprisingly). The funds never ever reached BNA. Looking back at my previous TW transactions BNA concluded that TW funds come through an Intermediary Financial Institution (most probably TW Argentina). And that is where the funds must have been blocked and returned back.

This afternoon for 3 hours I kept dialing TW customer service until they finally picked up and answered. The cs rep kept repeating one single sentence no matter what question I ask him:
"your receiving bank limit was exceeded". He never explained what bank? or what limit? or what actions TW is taking to find where is the problem?

Sent 2 emails to [email protected] so far no reply.

 

[Fiscal]

Hey guys, did anyone of you get the TW debit card ??
I received mine about 2 months ago and so far I'm loving it, no foreign transaction fees, higher exchange rate than any of the other debit cards I've before and everything is paid in pesos!!

For making purchases directly in stores with a card, what's the advantage of a TW debit card over any US bank debit card? I have used my US card without issue.

 

[deadOA]

It took 3 clicks yesterday to TransferWise money to my self. Less than 10 seconds I was done.
My money arrived this morning. AMAZING TW.

But by afternoon, Banco Nacion fuc*** up the whole thing and returned back the money.
3rd time repeat. So mad could scream. Pathetic.

TW is disappointing me big time.

Yesterday I spent the whole day up to the highest level in casa central Banco La Nacion (BNA). BNA left no stone unturned (surprisingly). The funds never ever reached BNA. Looking back at my previous TW transactions BNA concluded that TW funds come through an Intermediary Financial Institution (most probably TW Argentina). And that is where the funds must have been blocked and returned back.

This afternoon for 3 hours I kept dialing TW customer service until they finally picked up and answered. The cs rep kept repeating one single sentence no matter what question I ask him:
"your receiving bank limit was exceeded". He never explained what bank? or what limit? or what actions TW is taking to find where is the problem?

Sent 2 emails to [email protected] so far no reply.

TW problem, not BNA problem (surprised and disappointed).

TW posted the following on my account: "Your money's taking longer to pay out"
No further explanation. Nothing else. It has been 5 days so far.

 

[quilleroarg]

For making purchases directly in stores with a card, what's the advantage of a TW debit card over any US bank debit card? I have used my US card without issue.

No foreign transaction fees and mid-market exchange rate, besides that not much more.... I use it because my US debit card charges 3% of the amount paid after converting it to USD at a horrible rate

 

[id86]

Hi guys bear in mind these few things about using TW to get them dollars flowing to Argentina:

- The banking system in Argentina is pretty old, so their default is to go with the traditional walk-in banking. Always bear that in mind
- The banking hours are from Monday thru Friday 10h to 15h only if there is no PARO BANCARIO, TRY NOT TO REQUEST transfers outside of this time window, it will just give you a headache!!!
- In my experience, I have had NO ISSUES using HSBC and Patagonia to receive pesos, but as soon as I tried some of the new online banks it all went havoc.

Hope you guys have a good rest of the week!!

Hi @quilleroarg,

I want to transfer less than 1000usd to another person account in pesos in Banco Patagonia.
Does the owner of the Patagonia account has to do something in order to get the transfer?
Do you know of Banco Galicia?

Thank you

 

[quilleroarg]

Hi @id86,

I personally have used TW + Banco Patagonia, it works flawlessly! The owner of Banco Patagonia needs to give you his CUIL number and his CBU for the PESOS account. I have not tried to send USD to my Banco Patagonia USD account (nor will try to do so, you get charged $25 USD to receive USD).

On the other hand, I did transfer a couple of times to another person's account at Banco Galicia, and it also worked like a charm.

Good luck and let us know your experience! I would not try to transfer either today nor tomorrow (feriados nacionales).

All the best,

 

[steveinbsas]

I have not tried to send USD to my Banco Patagonia USD account (nor will try to do so, you get charged $25 USD to receive USD).

How were the funds sent to your Banco Patagonia account?

I'm guessing it was a wire transfer because you received USD.

If the funds had been "withdrawn" form your US bank account or you used a debit card and received the funds in pesos, I don't think Banco Patagonia would have charged the $25 USD.

 

[quilleroarg]

How were the funds sent to your Banco Patagonia account?

I'm guessing it was a wire transfer because you received USD.

If the funds had been "withdrawn" form your US bank account or you used a debit card and received the funds in pesos, I don't think Banco Patagonia would have charged the $25 USD.

You are right, I have not tried sending USD from Transferwise to my USD account in Patagonia, last time I checked you get charged for that wire.
I have only used the Pesos option and as I've said in my previous post, works "como piña" (like a charm)!!!

 

[jlynch]

anyone notice the rising of the fees with transferwise, the latest one in june, https://transferwise.com/price-change
between october of 2018 and now I see the fees have gone up 31% for a transaction of the same amount.
its still better than the others worldremit (the closest), azimo, exchange4free and smallworldfs (worst) but the gap is narrowing:

 

[jantango]

After using XOOM for six years, I am completely satisfied with Transferwise: 1) a higher exchange rate (today XOOM is 41.41 Transferwise is 44.3250), 2) deposited in my bank account in two hours, and 3) a reasonable service fee. This was my third transfer through TW. It beats going to More Money to get cash from a XOOM transfer before I opened a local savings account.