Western Union money transfer

[Edu R]

I'll add one additional factoid to this. According to my BA bank's policies the USD -> USD transfer is OK so long as it is "family" money - you are sending to a parent's account, son's account, etc. Or it can be your own account as mentioned.

I've had mixed experiences on this with different clients. It's very bank specific, and even the same bank will often change its KYC policies.

I mean, the worst case scenario is your money floats around for a few days or weeks and then gets sent back (minus fees, of course, because banks will make money of you even when they mess up).

For these amounts I would go to the trouble of writing up a simple document and getting it notarized and, optionally, apostilled (this last part might not be necessary depending on the bank).

Easiest is always transferring to your own account or spouse to spouse, but even if you do that I would still have some sort of document drafted because banks will still want to know why you're moving the money and also it'll help in the case of an (unlikely) tax audit.

Edit: also, @rdino I would avoid a wire transfer initiated by your friend. If it gets reviewed it's going to be extremely hard to get the bank to approve it.

 

[rdino]

I'll add one additional factoid to this. According to my BA bank's policies the USD -> USD transfer is OK so long as it is "family" money - you are sending to a parent's account, son's account, etc. Or it can be your own account as mentioned. I've no idea if this is universally true, so it is definitely something to discuss with the Argentine bank.

Thank everyone!, I think transferwise might be my best option for now - sending usd to usd - of course i'll need to confirm with the in laws that it won't be a problem getting/moving the usd after it arrives.

 

[Sojourner]

Thank everyone!, I think transferwise might be my best option for now - sending usd to usd - of course i'll need to confirm with the in laws that it won't be a problem getting/moving the usd after it arrives.

If you go this route, I seem to remember I had to call Transferwise to request that the foreign USD option be added to their transfer dropdown (originally the only option was ARS). Anyway, if it looks like you can't do what you want to do, call them.

 

[brandon]

I had a very hard time finding a western union in the northern suburbs that could fund U$1k worth of pesos last week.
They said there is no more truck to restock them like before The cashier needs to collect payments from pago fácil for a few days.

 

[sac13]

Rate 151,12. Now better than the blue rate.

 

[Redpossum]

Rate 151,12. Now better than the blue rate.

Yup. Took advantage of it myself this morning.

But I think it's interesting that WU is willing to pay more than the blue rate, even by a single peso. To me, this strongly suggests that the government is manipulating things to keep the blue artificially low.

 

[artisans]

Initiated a WU transfer this morning, from US bank to Arg bank accounts.
Funds are already deposited into Arg peso bank account this evening.
As an expat navigating expat issues in BA, WU has become the best and trouble free service (knock on wood, twice, for saying so).

 

[Redpossum]

Initiated a WU transfer this morning, from US bank to Arg bank accounts.
Funds are already deposited into Arg peso bank account this evening.
As an expat navigating expat issues in BA, WU has become the best and trouble free service (knock on wood, twice, for saying so).

WU is very efficient. When I went to collect my cash this morning at the big office at Montevideo and Cordoba, I was literally in and out in 5 minutes flat. But we pay a premium price for that efficiency.

 

[artisans]

WU bank to bank transfer price / fee is $0.00. The exchange rate of today was 151.12 pesos / U$

 

[dilmah]

But I think it's interesting that WU is willing to pay more than the blue rate, even by a single peso. To me, this strongly suggests that the government is manipulating things to keep the blue artificially low.

blue rate is exchange of pesos in Argentina for USD in Argentina.

WU pays their rate in peso for USD OUTSIDE of Argentina.
WU pays not just for USD. They pay for USD together with moving those USD outside of Argentina.