Thank you. I had a hunch that she was BSing me. She told me it was for local pick up only.
You ask what post I was replying to. The original post on 10/23 was:It would be interesting to know to what post you were replying when you wrote the above.
The Western Union rate as of this morning is $72.32, so I'm not sure what "My guess is this arb won't open again anytime soon. WU has pulled its excess capital out of Argentina and probably won some significant market share from competitors in the process." actually means.
If I understand correctly that the pesos being paid out by WU in Argentina, can be considered their excess capital, it appears that they still have some which they are willing to dispose of at a highly competitive rate.
Please correct me if I am wrong, but he cueva rates are useless to anyone who has dollars outside of Argentina and want to get them into the country.
Transferring dollars to a dollar account with Transferwise may still be possible, but I'm not sure. For a transfer of $1000 USD the wire fees would probably exceed Transferwise's $21.66 normal fee for the transfer.
Even after one had the dollars in hand, they would still have to go to a cueva to exchange their dollars at a rate close to that of Western Union.
Transferwise's rate is (as of this morning) $58,44 to one USD., so whatever an "arb" is, it looks like it's still open and WU is still going after a greater market share.
If I had used Transferwise yesterday to make the transfer of $473 USD, I would receive $27.271 ARS.
With Western Union I will receive $33.484 ARS (enough to cover ALL of my monthly expenses) and keep me from using any other service or transferring dollars to Argentina and taking then to a cueva.
Well, I checked my n¡bank account at 11 AM and 2 PM today and the funds still had not been credited to my account.Based on my personal experience as of yesterday afternoon (1 PM Argentina time/11 AM EST), it is now possible to make a WU transfer from yourself to yourself...on line and without a VPN using the US Western Union website.
Immediately after initiating the transfer, I received a confirmation email as the sender. To my surprise it indicated the funds would be avialble by 12/23 (Monday). I was surprised as I used my debit card and the website indicated the funds would be available "in minutes." The email suggested that the recipient might have to be "registered" in order to receive the funds. I was already registered, so I thought I would just have to wait until Monday.
Then I read an email sent to me by WU as the recipient, asking me to fill out a declaration JJ.DD on line. I did so in less than two minutes and, as soon as I submitted it, I received a message indicating the form would be processed in the "next few hours," so I expect the funds to be credited on Monday.
Given my past experience, I'd call that 'beginning to look a lot like Christmas'! Question, as the receiver did you enter/use your bank account number or the CBU?Well, I checked my n¡bank account at 11 AM and 2 PM today and the funds still had not been credited to my account.
At 2:17 PM I received an email from Western Union/Rapipago asking me to submit the JJDD. Even though I had already done so on Friday, I did it again.
As I was entering the data (easy to do as everything I entered on Friday was stored in the auto fill).
When I got to the CUIL I noticed that I had omitted the last number.
I completed and submitted the form in about one minute.
I checked my I checked my account just before 6 PM and the funds had been credited.
I reread the requirements for submitting the form (aka "registering" with Rapigo in Argentina). It looks like the first couple WU transfers get through without submitting the form. While this was the first transfer I made online from my US bank to my Argentine bank, it was the third transfer with me as the recipient since early November. My sister-in-law made the first two WU transfers, paying in cash in the US and I picked up the funds in person at a WU agency in Bahia Blanca.
So, now I can report with absolute certainly that it is possible to make a bank to bank transfer on line from yourself to yourself using the WU USA website...without using a VPN.
All I did was provide the requested information when I initiated the transfer on line...Ahh, well, back to Western Union 'Wheel of Fortune' - steveinbsas using bank account number and MilHojas CBU. Next week i'll have reason to try my luck.