Xoom: Cash Pickup Vs. Bank Transfer

[jantango]

Anytime you go over 40000 pesos, they are going to ask for much more documentation. Expect to give them employer information, statements, and all ID's AGAIN, along with several other peaces of information which they really dont need and is a violation of privacy! But hey you have to if you want to use them.

My situation was different. I reached the 40,000 peso threshold in October and was asked to supply two months of USA bank statements showing my source of income (social security) to receive the next transfer. That's all I had to supply to MORE for processing the XOOM transfer. They take care of providing it to the government agencies. I agree it's a violation of privacy, but we have to comply with the laws of the country in which we live. Providing personal financial information is required if you want to receive transfers.

 

[jbhenson]

My situation was different. I reached the 40,000 peso threshold in October and was asked to supply two months of USA bank statements showing my source of income (social security) to receive the next transfer. That's all I had to supply to MORE for processing the XOOM transfer. They take care of providing it to the government agencies. I agree it's a violation of privacy, but we have to comply with the laws of the country in which we live. Providing personal financial information is required if you want to receive transfers.

question, can you show me where this is a law? Because i looked for it, went through several pages of central banks paperwork, still counldnt find a law say you must do this, more like bankers telling you what to do?

 

[jantango]

During my visit today to the MORE money transfer office on Libertad, I made note of the law no. referenced in the sign on the wall that details the information one must provide for any transfers. With that number, I searched and found http://www.uif.gov.ar:8080/eng/index.html

Select Law 25246 of the Criminal Code, and you'll open a pdf file with the entire money laundering law in English, provided by the Financial Information Unit (UIF) or
http://www.uif.gov.ar:8080/eng/ley_y_decretos/Law_25,246.pdf

I am expecting to reach my second annual 40,000 threshold of transfers by October when I'll have to provide my bank statements again to receive money transfers

 

[jbhenson]

During my visit today to the MORE money transfer office on Libertad, I made note of the law no. referenced in the sign on the wall that details the information one must provide for any transfers. With that number, I searched and found http://www.uif.gov.a.../eng/index.html

Select Law 25246 of the Criminal Code, and you'll open a pdf file with the entire money laundering law in English, provided by the Financial Information Unit (UIF) or
http://www.uif.gov.a.../Law_25,246.pdf

I am expecting to reach my second annual 40,000 threshold of transfers by October when I'll have to provide my bank statements again to receive money transfers

yes but that has nothing to do with people sending their own funds to themselves in a different country. It has to do with laundering money and committing crimes, Ive committed no crime, they are AUTOMATICALY considering me a criminal when I transfer funds. So according to this dialectic everyone whos send money to themselves is a criminal?

STUPIDITY! and AUTHORITARIAN! NAPOLEONIC CODE LAW!


PLEASE READ THE LAWS! AND STOP ATTACKING ME PERSONALLY for telling people to think! that is what makes me different from animals, I think, i think instead of bleieving the news, or someone elses descriptions of laws, I read for myself.

PS I blocked your private messages because you ramble and attack without merit, if you could have some dialectic to your messages i might discuss them with you!

 

[jantango]

That's the thanks I get for researching your question and providing a link to the law.

 

[Sockhopper]

Steve, why would a foreigner living in Arg not be able to use Xoom to transfer funds to himself in Arg (using 'More's peso pickup) directly from his OWN US-located bank account? I thought that the whole idea was to shift funds online from his own US-located bank account to Xoom. What if f one doesn't have a relative in the US with a bank account usable as an intermediary as you have?

I'm thinking of foreigners who receive US pensions, for example.

 

[glasgowjohn]

I was once asked in Argenper if i was sending money to myself.

I said that it came from my cousin who shares my name....

 

[jantango]

Steve, why would a foreigner living in Arg not be able to use Xoom to transfer funds to himself in Arg (using 'More's peso pickup) directly from his OWN US-located bank account? I thought that the whole idea was to shift funds online from his own US-located bank account to Xoom. What if f one doesn't have a relative in the US with a bank account usable as an intermediary as you have?

I'm thinking of foreigners who receive US pensions, for example.

That is precisely why I use XOOM and not RIA. XOOM gives me access to my social security benefits through a transfer to myself at a better rate than withdrawing them from a local bank with debit card.