Western Union money transfer

[lost]

... But basically what you are describing happened towards the end of the Macri administration. They called it "Rulo" if I am not mistaken. Unfortunately lots of dollars from the reserves and from the IMF loans were lost that way.

 

[dsp27]

A scenario:

I send U$D1,000 from my US bank account to myself through WU, go to a branch in BA and they give me $83,200 pesos.

Then I walk over to an 'oficial' exchange office, and turn my $83,200 pesos into U$D1,434.

Could I then go to a cueva and use the blue rate sell dollars for pesos, and just keep flipping the money over and over? What am I missing here?

With the PAIS tax (30%) you can buy USD but it will cost you 82 pesos per USD. So there is some space for arbitrage but it's effectively 1 peso per USD in profit. It's not worth the time and trouble to make 10 dollars in profit/ 1000 USD transferred.

 

[AFVA]

If I'm not a legal resident, I still pay the PAIS tax? I thought that only applied to Argentine residents.

 

[lost]

If I'm not a legal resident, I still pay the PAIS tax? I thought that only applied to Argentine residents.

If they sell you dollars without a DNI and / or CUIL/CUIT, they will still charge you the 30%.

 

[dsp27]

If I'm not a legal resident, I still pay the PAIS tax? I thought that only applied to Argentine residents.

Yes, the same way you pay VAT when you buy something from a store or at the supermarket. You are paying taxes all the time, you just don't know it.
;0

 

[AFVA]

Ah well, thanks! Yes, can't escape the taxes.

Either way, though, using WU and exchanging at the official rate you end up just about even so it's better than nothing. Hopefully it doesn't change too much soon.

 

[Bajo_cero2]

If I'm not a legal resident, I still pay the PAIS tax? I thought that only applied to Argentine residents.

The legal system is based in being an inhabitant (residency) instead of legal residency (non slave).

 

[Aloha Boy]

Sorry if this is redundant, but was there a solution to bypass the WU 5% fee if you don't have a local bank account here?

 

[steveinbsas]

Sorry if this is redundant, but was there a solution to bypass the WU 5% fee if you don't have a local bank account here?

Where have you seen a 5% fee for a Western Union cash pick up transfer?

I received a transfer of $1120 USD (paid in cash in the USA) yesterday that did not involve a local (Argentine) bank account.

The fee was $16 USD, slightly over .014%.

 

[Aloha Boy]

Yes, for a cash pick up. From my US bank to a local bank is free, but I don't have a local bank account. See both attachments.