Us Social Security Payments In Dollars

[Carloncho]

I will retire in 2014 and come back to my native Argentina, and I will appreciate your help with questions. Is it possible to recibe Social Security payments in dollars in Argentina or they have to be converted in Pesos? Should I have direct deposit in USA and transfer to Chase or Citibank branches in Argentina? What is the best way?

 

[Farenheit]

Straightforward bank transfers go via Banco Central where dollars get converted to pesos at the official rate. The best way would be to Xoom the money from your US account to your Argentine account.

 

[Sleuth]

2014 is a long time away in terms of Argentina. That will be after the mid-term elections and who knows what will happen with the dolar blue.

Farenheit's suggestion is the best bet you have today. Next year? Who knows.

 

[D.B. Cooper]

Have the SS benefits deposited in your Chase / Citibank accnt. in the USA. Then you can collect the $$ here in pesos at the Black Market rate using the xoom.com
website.
Very easy.

 

[Rich One]

Banco Macro offers to open a Savings Account for retired US citizens and credit there the SS payments which are converted to pesos at the Official Rate..!! Not a good deal...!!

Or open an account in Uruguay transfer US funds there and cross the River to collect your greenbacks :wub:...!! A dollar in hand is better than PESOS at Xoom.....!! for rental negotiation...! Besides XOOM gives you ALL in pesos, your dollar bills you can cash a piacere!!

 

[Rich One]

my comments are being held for Review....!!

 

[HenryNisental]

This is what I did. Here the US Consulate opened an account in the Chase Bank, and they gave me later a debit card. Now I go to Colonia, Uruguay, where I can withdraw 900 USD per day at any ATM. So if you go for two nigths (3 days), you can get 2700 USD, enough for some time, then you go back again. Sorry this is Argentina now, (then you exchange dollars a litlle at a time, with infllation working for you).
If you open an account in Coloniait it will cost you more in the end.