USD to MP virtual wallet?

[veek2023]

Hello all,
I'm not an expat (BA born and raised) but I am seeking advise on how to transfer funds from my US bank account (Citibank, non-resident checking account) to Mercado Pago. Up until last month, my US Citibank debit card was accepted by MP but not anymore for some reason. I can still use it at the supermarket or other retail stores though. Anyway, I use to be able to pay my "expensas" through MP and now my only way around is to transfer the USD to myself through WU, get the cash, go to the bank, make a cash deposit to the building admin. I was wondering if any of you know any app or website (I tried Moneygram but my billing address is in Argentina and they only take US addresses as sender) that would let me transfer funds from my US account to MP somehow. Thank you in advance for your help! Victoria

 

[SinPulgas]

What about transferring the money from your US bank account to your Argentine bank account with WU? From there you can do a transfer directly to pay your "expensas," or you can transfer the money to MP and then pay everything as you were doing before.

And WU pays a better rate transferring from debit card to Argentine bank account than it does for cash pickup.

 

[LuckyLuke]

DolarApp is all the rage right now for USD to Peso transfers, but personally I find the whole billete virtual landscape a bit sketchy...

 

[SinPulgas]

DolarApp is all the rage right now for USD to Peso transfers, but personally I find the whole billete virtual landscape a bit sketchy...

You think Mercado Pago is sketchy?

 

[veek2023]

What about transferring the money from your US bank account to your Argentine bank account with WU? From there you can do a transfer directly to pay your "expensas," or you can transfer the money to MP and then pay everything as you were doing before.

And WU pays a better rate transferring from debit card to Argentine bank account than it does for cash pickup.

Hi SinPulgas I’ve been trying that (it was my first option) but even when i entered my Banco Ciudad bank account CBU from the WU page, whenever I try to make a transfer I get an error saying “there is a problem with my bank details”. CBU is correct and triple checked the data, still no success. Wonder if anyone else encountered the same issue.

 

[veek2023]

DolarApp is all the rage right now for USD to Peso transfers, but personally I find the whole billete virtual landscape a bit sketchy...

Thanks for this! Do you know if you can transfer the funds from dollar app to MP?

 

[LuckyLuke]

Thanks for this! Do you know if you can transfer the funds from dollar app to MP?

I've never tried it, but there are videos on Youtube explaining the functionality. The universal problem I've found with a lot of these apps is that they don't facilitate in one step debiting the USD account to transfer to Peso they way that WU does. There's always more steps, which invariably involves more commissions. They are more from Argentineans buying virtual dollars to trade amongst themselves because they don't have access to a USD account. Saldo.com.ar is another Peer to Peer based website that will show you all the various routes you can go to receive transfers. But be aware, these are transfers from people not banking institutions.

 

[carride]

Possibly related to the question. There is a difference between CVU accounts, which are also called billeteras virtuales, and the traditional CBU bank accounts. Here is a link where BruBank explains, since they only have CBU accounts, vs Ualá which originally only had CVU until their purchase of WillowBank. Two examples when not doing cash pickup are MoneyGram with option to send to both CVUs (at a higher rate) and CBUs, while WU only has option to send to CBUs.

¿Cómo funcionan las transferencias a CVUs? | Preguntas Frecuentes - Brubank

Conocé cómo funcionan las transferencias desde y hacia billeteras virtuales.

help.brubank.com

Translated:
Every financial institution works with a clearinghouse to be able to send and receive money, and Brubank is no exception. You can make transfers to both CBUs, and CVUs which are specific for digital wallets.

These virtual wallets, such as MercadoPago, Ualá, Lemon, Prex, etc., operate through COELSA and all transfers you send and receive to and from any virtual wallet will be carried out through this network.

How transfers to CVUs work​

1. COELSA is notified that “X” entity is going to withdraw money from its account
2. COELSA receives the order, reviews the funds in that entity and enables the shipment.
3. COELSA confirms the operation and the funds are credited to the account

These transfers are usually immediate. If you made a transfer and it has not yet been credited to the destination, we suggest you download the receipt from the app and file a claim with the entity receiving the transfer.

Transfers to CBUs​

Transfers sent between Brubank and other banks (BBVA, Santander, Galicia, etc.) operate through the Banelco network or the Link network. These types of operations are not subject to COELSA interruptions.

 

[pixer12]

I recently started using MoneyGram and like it very much. Someone on the forum recommended it. It seems you can send fee-free transfers from the U.S. if you (1) pay with a debit card and then (2) send to a virtual wallet. You can also pay with a credit card, but there's a fee, and I haven't looked into the options of paying with a U.S. bank account directly and/or sending to an Argentine bank account (i.e., not using a virtual wallet). The money has arrived in my Mercado Pago account within 15-30 minutes and the rate has been a little less than CCL.

 

[MarshallE]

I recently started using MoneyGram and like it very much. Someone on the forum recommended it. It seems you can send fee-free transfers from the U.S. if you (1) pay with a debit card and then (2) send to a virtual wallet. You can also pay with a credit card, but there's a fee, and I haven't looked into the options of paying with a U.S. bank account directly and/or sending to an Argentine bank account (i.e., not using a virtual wallet). The money has arrived in my Mercado Pago account within 15-30 minutes and the rate has been a little less than CCL.

How does the rate compare to WU?