Us Bank To Local Arg Bank Transfers

[Alicia karr]

REALLY GREAT NEWS if it is accurate. Just returned from my local branch of HSBC where I asked if I can now transfer money from my US account to my account with them here and the answer was "it seems that now you should be able to"...of course technically you always could but at a huge loss because of pesofication.
What I didn't ask is if I cold receive actual dollars doing the transfer to my dollar account here. Anyone know about this?
And happy "fiestas" with or without Videl Tony!

 

[Ceviche]

What I didn't ask is if I cold receive actual dollars doing the transfer to my dollar account here. Anyone know about this?

The best person to would obviously be someone in the bank (HSBC) itself - straight from the horse's mouth!

 

[Somewhereinba]

If you find out please let us know the outcome.

 

[ElQueso]

Yeah, I wouldn't believe it until you actually see the money in your account. I've been told a number of times that it should be possible to do something related to money and banks and have rarely seen it fulfilled, even before the cepo. Specifically with HSBC, I seem to remember (a) thread(s) from years ago where someone had HSBC accounts in their home country and here and were told they could transfer money from outside the country to their account here and they were never successful. I could be remembering wrong though, that it was something else that was causing their problem.

Personally, I remember an incident with Banco Hipotecario about 7 years ago where a vice president (who happened to be my landlord) told me I could do it and after a month of trying to work through the tramites unsuccessfully, he shrugged his shoulders and said "sorry, I was wrong." It's been too long, I don't remember all the problems, but it was enough that I gave up even trying.

 

[ElCordobés]

Of course, if things revert to the way it had been and currently is in neighboring countries...one can use Ria or Xoom to accomplish the same thing.

For Ria, they currently charge USD5 for USD transfers to Uruguay, Paraguay and Chile up to USD2999 and the deposit can post same day. I have done regular deposits directly to my bank in AR but they physically send someone to a branch but only in ARS to this point. If you can't do it within the HSBC system, another transfer service is still a deal and would far less than a SWIFT wire.

EDIT: I just logged onto Ria. It says USD750 payout in USD750 for USD5. From USD750.01 to 2999, it says the fee is USD10 and payout in USD for pick up or bank deposit. Will it work... who knows. I don't recall seeing USD option to Argentina previously.

 

[ElQueso]

BTW - here's another thread I just saw related to transferring money to an HSBC account through xoom:

http://baexpats.org/topic/34302-rentista-wire-transfer-woes-need-help-please/page__st__10#entry320984

Maybe that's the best way to do it instead of going through the central bank for bank-to-bank transfers?

 

[EdRooney]

I just did a bank-to-bank transfer from Europe. After deducting all transfer fees (from both our bank in Europe and our bank here) the effective rate we got today was 1 EUR = 13.80 ARS.

 

[Sockhopper]

Ed,
I wonder if you would tell us in which country your European bank account is. Every country makes its own banking laws. Nothing in the EU harmonizes banking laws of its 28 member states. So, for example, when a report comes in saying how a poster's Italian bank account is handling $AR or her debit card while she's in Arg, or how Italian banks are dealing with the ending of Arg's dollar clamp, it doesn't suggest in any way what banks in France, Germany, etc are doing.

I will understand completely if you don't feel right publishing such personal information.

 

[EdRooney]

Rhymes with pain and starts with S.

 

[GMXam]

Bank to xoom/more to bank transfer for today is at 1 USD = 13.2783 ARS which does not include the $30 USD fee...which would make their "real" rate 1 USD = 12.9257 ARS. That's just a tad less than my bank's direct transfer in the US to AR bank account.

The calculation I'm using for bank-to-bank transfer is: (official rate X amount I wish to transfer) / (amount I wish to transfer + US bank transaction related fees + US bank International fees + AR bank international fees)

I didn't include AR bank transaction related fees since I'll be charged those with either method. When using Xoom to transfer to an AR account, I haven't had an international charge by my US bank in the past.

BTW - here's another thread I just saw related to transferring money to an HSBC account through xoom:

http://baexpats.org/..._10#entry320984

Maybe that's the best way to do it instead of going through the central bank for bank-to-bank transfers?