Western Union money transfer

[Truman]

i have been doing WU transfers from my us bank to my santander bank for quite some time. i just noticed that for the last few months i have had 5 percent deducted from each transfer with the note "¨regimen de recandacion sircreb z".......i assume its a tax? anyone else have this?

Just for points of comparison and in case another experience is helpful, #1 every month I make a U$ transfer HSBC bank to bank, US to Arg U$ account. On this transfer I receive two Arg bank charges in pesos amounting to 2 to 3% of the transfer amount. As soon as the fee charges appear I request a fee refund to the Arg bank, which they refund 70% of the fees. No other charges. #2 In a month I also make 2 or 3 WU transfers, bank to bank (HSBC) deposit arriving to the HSBC Arg Peso account. No fees have ever been charged. Latest transfer was 5 days ago.

 

[dsp27]

215.70

 

[rickulivi]

DIGITAL0FEE

Thank you very much. Very generous om your part to share this promo code.

 

[Cordoba]

Thank you very much. Very generous om your part to share this promo code.

 

[Truman]

Could never grasp the CCL concept until this explanation article plus a commenters add-on. With this you can see what WU is doing using CCL. https://chequeado.com/el-explicador/que-es-el-dolar-contado-con-liqui/ (you may want to turn on Translator to English). Further Comment: "What I think is not fully understood is that it is not explained, for those who are not on the subject, that the purchase of shares in Argentina are made in pesos at official dollar value, that is, you never see the tickets; and then when you sell in the US, you charge in dollar a ticket that you can transfer to Argentina and sell it in the blue market and make the difference in pesos, which can be considerably beneficial according to the time when the operations fall, sometimes more than other times."

 

[rickulivi]

Transferred $1000 today @ 213.50 and bought the blue at 198.

Gain of 15500 pesos, or US$78, or 7.8%, in one day (based on the blue rate), for moving your money from one place to another. I don't call that a small profit. And you should be able to transfer a couple thousand dollars without a problem.

And there's something else to consider. It's hard to get dollars to Argentina. It costs significant money to do so. So if you like to have an emergency supply of dollars here, you can save ALL of those costs as well. I calculated that for my situation with my US bank (using actual numbers from my last trip), for me to bring 5000 dollars from Uruguay costs today 9 pesos/dollar. So in addition to the 15.5 pesos per dollar I gained today, I can count another 9 pesos of savings in getting my dollars here.

Not a bad deal at all.

This large spread between WU and the blue is probably a short term phenomenon/opportunity, but you never know. This is Argentina, after all.

This is genius. Thank you for the tip. It explains clearly how crazy Argentina is.

 

[Eheyburn]

I am traveling to Argentina from the US. I was planning to send money to myself via WU. Does anyone see a problem with the? Does anyone know how soon in advance I need to send the money? Does it take hours or days? Thank you….

 

[steveinbsas]

I am traveling to Argentina from the US. I was planning to send money to myself via WU. Does anyone see a problem with the? Does anyone know how soon in advance I need to send the money? Does it take hours or days? Thank you….

Set up a Western Union account at westernunion.com (the US site) prior to your departure and you will be able to transfer funds to any Western Union agency (including Correo Argentino) in Argentina. The funds will be available for cash pick up in a few minutes (if the agency has sufficient cash on hand to give to you).

If they don't have enough cash at the moment, you can wait until they do (I had to wait a few hours a couple times to pick up large transfers before I started making transfers to my Argentine bank account) or go to another agency. All you need to pick up the money is your passport and the transaction number, The names on the transfer and you passport must match exactly.

PS: If you plan to make more than three (?) transfers, as the receiver, you will also have to fill out an on line form which you will see the link to after you make the first transfer. I think you can use the WU app with your cell phone to make transfers while you are here, but I have never done so. I've always make the transfers from my laptop on the WU website.

 

[jblaze5779]

I am traveling to Argentina from the US. I was planning to send money to myself via WU. Does anyone see a problem with the? Does anyone know how soon in advance I need to send the money? Does it take hours or days? Thank you….

Right now this is the best option for travelers. Make sure you use the fee codes and watch the amounts you send. Most places is Argentina don't have change for a 1000 peso note. If you need a large amount go to a larger place.

 

[steveinbsas]

Make sure you use the fee codes and watch the amounts you send. Most places is Argentina don't have change for a 1000 peso note.

You will see the words "promo discount" in the summary box on the right side of the screen, just below the fees. When you click on "apply promo" you may get a pop up in which you can enter the "code".which will result in a discount or elimination of the fee. If not, you will see an option to apply promo/reward points just below the "How would you like to pay?" options on the left side of the screen.

Two "zero fee" codes have been graciously shared by Cordoba recently in this thread. The latest (and possibly still valid) is DIGITAL0FEE (with the number zero, not the letter O).

As I indicated in my previous post, the only issue with picking up large amounts is whether or not the WU agency has sufficient cash on hand at the moment. When you pick up the cash you can ask for some smaller bills to deal with places/businesses who may not be able to make change for a $1000 note.