US Wire transfer question

[alejandroaru]

RE: US wire transfer question

Hi all,

My name is Alex, I have a relative in California from whom I need to receive a large sum of money ($ 19k). She wants to wire transfer the money into a US bank account which I don't have.

I know that some "casas de cambio" here in BA will receive the xfer in their account, take a small comission (2%) and pay cash, but only if the amount is less than $ 3k USD otherwise I'd need to fill out government forms specifying where the money comes from, why am I receiving it, etc, and I can later have some issues with the taxing agency AFIP.

I want to get this done ASAP and have no idea where to go, I can't find an agency that will do this under the table.. I don't care if they want to charge me another point or two in comission (3% or 4%).

Please, if you know somebody or have done this before with an exchange agency let me know. It'd be greatly appreciated, as I need to take care of this matter within the next 2 weeks.

Thanks - [email protected]

 

[G]

alejandroaru, sorry but there is no way around the taxes and factor in conversion (buy and sell rate). You will need a bank account number (safest if in your name) you do not want to play or risk loosing any portion of that money. The US will ask the sender what the money is for,a nd you will have to explain what you need that money is for in here - everyone is allergic to money laundering schemes - money gets tainted when it does not have proper paper trail; especially for official bank transactions. Funny thing about banks is that they want their cut on everything. The dollar sent to you if deposited to Argentina will be converted to PESO and then converted back to dollar and for 19K the Central Bank in Argentina will need to be involved. There is just no way around that and either way or both ways the bank wants their cut of the delicious pie.
Remember when you came into the country and you have to declare anything over 10K, same rule applies here.

 

[rmartinbuenosaires]

My how things have changed! I knew it was worse than four years ago when I transferred money from the U.S. to a broker here to buy my apartment. My bank in the U.S. never asked why, the broker here (very well reputed) only took 1% (and it was ALOT more than 19K) and the Central Bank and/or government here, never got involved. I'm so glad I did this back then before the locals were able to use their greed to take advantage of people. Its my understanding that the same broker I used is charging 3 or 4% now. Who knows? I am kinda curious though as to why my bank never questioned anything. Guess I got lucky...and good luck you you.

 

[vr236]

Wiring money, numbered accounts and accounts without beneficiaries (corporate accounts where the owners names are never mentioned) and all that good stuff changed after 9/11, due to the Patriot Act. This is just one article but there is a lot of info on the web. http://www.gcglaw.com/resources/financial/identification.html

 

[alejandroaru]

MSG for rmartinbuenosaires
Hi, thanks for replying to my question about the wire transfer. I
actually don't care if the comission is 3 or 4%. Is there any chance
you can contact me with your broker, I really need to take care of this
matter ASAP. Thanks.

My email is [email protected] my cell phone 15 6410 7239

thanks!!!

 

[JG]

I called Banco Piano and spoke with a man who speaks english. i have the contact info in my apt. he said my bank could wire the money to their bank acct. in nyc and then i receive the money here at banco piano. they charge 2%, which for 48K, is nearly 1,000 dollars. i consider that a lot of money to do this. its well over a typical months wages here. its a lot of money.
my usa bank charges a mere 50 bucks to transfer the money to nyc or to argentina. And all with a phone call.
I went to Citibank today in BA and was told even if i was able to open up a bank acct. there is a waiting period of a year before i could have money transfered.

 

[California]

You just cant open an account here UNLESS it is strictly for the purpose of BUYING a property....AND the only banks I know that WILL do that require you to be recommended by a financial institute here in BA....I know them and they will do it for you, but it must be TO BUY a property.
They will however, handle the wire transfer and hand you over the money....WITHOUT opening an account....at a comision of 1.75% (I know Banco Piano charge 2%)
They are trustworthy and been doing it for years now...

 

[VMSmith]

You just cant open an account here UNLESS it is strictly for the purpose of BUYING a property....AND the only banks I know that WILL do that require you to be recommended by a financial institute here in BA....I know them and they will do it for you, but it must be TO BUY a property.
They will however, handle the wire transfer and hand you over the money....WITHOUT opening an account....at a comision of 1.75% (I know Banco Piano charge 2%) They are trustworthy and been doing it for years now...

Yeah, but you're the same guy who made that silly post about the so-called new tax in September. Credibility, dude, credibility.

 

[California]

"Yeah, but you're the same guy who made that silly post about the so-called new tax in September. Credibility, dude, credibility."
VMS:
Here is some "credibility": http://www.gob.gba.gov.ar/html/gobierno/diebo/boletin/25630/suplemento_leyes.htm
Start practising your Spanish!
Aren't I a great source?!