Western Union money transfer

[Rich One]

A few days ago went to WU office in Montevideo and Cordoba , where a senior lady ahead of me cashed several hundred of dollars into 1000 peso notes . When she received the stacks that had been machine counted, she proceeded to manually count again the bills one by one...!

 

[jblaze5779]

Anyone had issues transfering today? Tried two moneygram this monring and both were rejected by my banks. Might try western union here in a minute. I wonder if today volatility has anything to do with it.

 

[Traveler]

A few days ago went to WU office in Montevideo and Cordoba , where a senior lady ahead of me cashed several hundred of dollars into 1000 peso notes . When she received the stacks that had been machine counted, she proceeded to manually count again the bills one by one...!

That's just like when a woman at he grocery store line digs in her suitcase (aka purse) for coins to pay the bill. At least here they don't use dimes, quarters and pennies but in the US they sure do!

 

[Quilombo]

Anyone had issues transfering today? Tried two moneygram this monring and both were rejected by my banks. Might try western union here in a minute. I wonder if today volatility has anything to do with it.

I'm headed to a WU now I'll update if there's issues, doing a cash pickup but won't send until I confirm they have money and the system is working

 

[Neil]

I'm headed to a WU now I'll update if there's issues, doing a cash pickup but won't send until I confirm they have money and the system is working

W.u bank to bank worked ok today.

 

[Quilombo]

Picked up without issue; got $332.60/$1

 

[rdino]

with the blue dollar at over 350, what do you think will happen? As in will WU rate catch up? Or is it worth going back to the cuevas?

 

[jblaze5779]

It will catch up but you should use the cuevas as a option now if you have the ability.

 

[Redpossum]

It will catch up but you should use the cuevas as a option now if you have the ability.

Cueva will give you a better rate, yes, but I would suggest that the current instability is a good reason to hang on to physical dollars, if you have them. Having crispy Ben Franklins in hand could make a real difference if things melt down again like they did in 2001.

 

[Quilombo]

with the blue dollar at over 350, what do you think will happen? As in will WU rate catch up? Or is it worth going back to the cuevas?

Nobody has ever lost money betting against the peso in the long term, in the short term, it's hard to say, but as many people have been saying here, this seems to finally be the adjustment making up for lost ground (inflation is ~92% in the last 12 months, yet the dollar blue has only gone up 72.81% YTD; 206 to 356)

If you're transferring money via WU from the US it absolutely makes sense to go to the cave once you factor in the fee, but there's also value in having hard currency on hand too.