Western Union money transfer

[sneakrnet]

Sorry if this has been answered somewhere (as I have tried to have a look!). I have USD in a US bank account and GBP in an account in the UK. I've been here a few weeks as a tourist but am now planning to stay longer, working remotely for a UK company and getting paid GBP into my UK account.

So far, I've just been transferring money to pick up the pesos at WU. As things stand at the moment, is this also the best option long-term to get the most for my USD or GBP?

Thank you in advance for any help and steering me in the right direction! I appreciate any advice.

"Long-term" is a word that's not used very much in Argentina. However...

Right now, transferring money using WU (<2% commission, like Steve, or commission free with promo code) will get you the most. But that could change at any time. At the moment (today), the difference between the WU transfer rate (commission free) and selling dollars in the street (depending on how much you can get) is only 3.5 - 4.5 pesos per dollar (~2%), but just a couple days ago, the difference was 8 pesos, and a couple weeks ago, the difference got up to 16 pesos (~8%!!!).

If you can, bring lots of US 100 dollar bills, in new, unwrinkled, unfolded, perfect condition, to sell in cuevas if and when "the blue" starts to pay more than WU. Don't bring older bills with Franklin's head smaller. If possible, only bring the newest bills with the blue security thread. This is what the cuevas and everyone else here wants. You may receive significantly less for bills that don't meet these characteristics. You'll also receive significantly less for other denominations and for other currencies (GB pound, Euro, etc.).

If the blue starts to trade significantly higher than the WU rate (or if suddenly there's no way to do a transfer without paying Western Union a significant commission), you'll be glad that you've got cash.

 

[steveinbsas]

I've been here a few weeks as a tourist but am now planning to stay longer, working remotely for a UK company and getting paid GBP into my UK account...

So far, I've just been transferring money to pick up the pesos at WU. As things stand at the moment, is this also the best option long-term to get the most for my USD or GBP?

Since you are already here, and unless you return to the USA to get them, it's obviously too late to bring "lots of US 100 dollar bills, in new, unwrinkled, unfolded, perfect condition, to sell in cuevas if and when "the blue" starts to pay more than WU," so I think your best option is to continue to make the online transfers with Western Union and pick up the pesos in person.

I know of no better, easier, or safer way to transfer funds to Argentina. Even if I returned to the US for some reason, I would not bring a lot of dollars (of any demonination) with me when I returned.

I'd be far more concerned about the risk of physically carrying and holding a lot of cash (that would have to be changed at a cueva), just in case the the blue rate goes above the WU rate at some point in the future than I would about the latter actually happeneing.

As things are now, my advice to anyone who may soon visit Argentina, is to leave most of their dollars in their US bank account and transfer them as needed. Nonetheless, I do think it would be a good idea to bring some dollars to hold in "reserve" just in case it becomes impossible to make online transfers for a period of time.

 

[sneakrnet]

Since you are already here...

Yeah, I overlooked that part.

I know of no better, easier, or safer way to transfer funds to Argentina.

I agree, but many times it's been far costlier. (More than a ten percent difference compared to the blue at times; sometimes much more.) I'm on a tight enough budget that such a difference matters to me.

I'd be far more concerned about the risk of physically carrying and holding a lot of cash (that would have to be changed at a cueva), just in case the the blue rate goes above the WU rate at some point in the future than I would about the latter actually happeneing.

First, you keep the cash at home and only change the amount in the cueva that you would normally transfer. Second, the norm over a long period of time is for the blue to be higher than the WU transfer rate. And if the WU promo code expires, with the fee WU wants to charge me, today I'm getting 3% more than WU by selling in a cueva.

BsAs2022 asked, "...is this also the best option long-term to get the most for my USD or GBP?" That's the question I was trying to answer.

If you don't care about getting the most for your money, I'd agree with you, Steve. WU is safer and very convenient. We've had a good run with WU most of this past year, especially in recent months, but as you well know, things in Argentina change so fast and so much at times that it can make your head spin. And there are a lot of variables in the equation here. Personally, I'm willing to take a reasonable risk when the difference in rate becomes large enough to warrant it.

Also, Steve, you live in paradise, out in the campo. I live a ten minute walk from calle Florida. For those of us who live in the city, it's a bit easier to "make change," and getting to know and trust a couple of cuevas near you (or receiving trusted recommendations here) greatly reduces the risk. (I do have to admit, though, that it's really nice to make a couple of clicks today and see the pesos in Home Banking tomorrow. And that has a value that's part of my personal equation.)

I don't think there's just one answer to this. Everyone's personal circumstances and tolerance for risk are different. But at least we have options (for the moment).

 

[Lavish Otter]

Transfer today 1usd : 204ars

Has WU stopped exchanging cash? Two years ago I was able to change usd 100s for pesos. Today they said they don’t do it.

Thanks!

 

[Johnny]

Transfer today 1usd : 204ars

Has WU stopped exchanging cash? Two years ago I was able to change usd 100s for pesos. Today they said they don’t do it.

Thanks!

Yeah, they apparently quit doing that. I got $204 today as well.

"Lavish Otter". Still the best name on BAexpats.

 

[Lavish Otter]

Thanks!

 

[Redpossum]

My debit card expired, and the new one isn't arriving, nor is the replacement I requested, so I had to change to pulling the money direct from my bank account in the states. For this, WU charged me a 10 dollar fee on 100 dollars. I tried with the promo code, and it was stuck in the " we are thinking about it, we'll get back to you, probably within half an hour" stage for days and days. So I canceled and tried again, with promo code; same result.

So I canceled again, and tried a third time without the promo code, and this time it was approved in seconds, though I still had to wait 4 days before the money was available for pickup.

I picked up the cash this morning, arriving around 9:50am, and the WU main office at Cordoba & Montevideo was a complete clusterf***, with 50+ unhappy chetos waiting in line and abusing the tellers when their turn finally came. I should have known that the first business day after a holiday weekend was going to be a circus, but HDP...

 

[steveinbsas]

I just enterd the details for a $500 transfer with a cash pick up at a Western Union agency and the promo code DIGITAL0FEE still eliminated the $28.50 fee for paying with a credit card as well as the $6.99 and $2.99 fees for paying with a debit card or sending the funds directly from the bank account.

The code also worked (for a $500 transfer to a bank account) to eliminate the $37.50 fee for paying with a credit card as well as the $2.99 and $1.99 fees for paying with a debit card or sending the funds directly from the bank.

PS: I did this on the Western Union US website (not the app) using my laptop.

 

[Redpossum]

I just enterd the details for a $500 transfer with a cash pick up at a Western Union agency and the promo code DIGITAL0FEE still eliminated the $28.50 fee for paying with a credit card as well as the $6.99 and $2.99 fees for paying with a debit card or sending the funds directly from the bank account.

The code also worked (for a $500 transfer to a bank account) to eliminate the $37.50 fee for paying with a credit card as well as the $2.99 and $1.99 fees for paying with a debit card or sending the funds directly from the bank.

PS: I did this on the Western Union US website (not the app) using my laptop.

And I was on the USA WU website also.
It is indeed quite strange how we get such different results.

 

[Frank2000]

And I was on the USA WU website also.
It is indeed quite strange how we get such different results.

When that happens, try to use a different browser or make sure your browser is updated to the newest. or change how you navigate (e.g. clock on "Start a New Transfer", instead of "Edit & resend".