Xoom Money Transfer

andesmandes

Registered
thanks for the feedback, I just feel like I would feel nervous bringing tons of cash into the country..that seems risky to me. Also do you feel safe exchanging at blue rate dollar/how do I know I'm not putting myself at risk or getting ripped off?
Safety wise: It is often safer than going to an ATM where nobody is around.
 

thorsten

Registered
thanks for the feedback, I just feel like I would feel nervous bringing tons of cash into the country..that seems risky to me. Also do you feel safe exchanging at blue rate dollar/how do I know I'm not putting myself at risk or getting ripped off?
For bringing in cash: just use a money belt and bring less than 10k US$ to avoid declaring it - your risk should be minimal as nobody knows you have large sums of cash on you and it's not easy to steal. Changing is pretty safe here - the biggest risk is not getting a very good rate (which then should still be better than Xoom). If you know the area you'll be staying, just ask for a cueva here. Personally, I'd prefer to go to my cueva instead of an 'offical' bank even if they'd provide the same exchange rate...
 

HenryNisental

Registered
To exchange USD go to Galeria Boston, (Florida St And Diagonal Norte), very safe shops inside paying top money for 100$ bills, no problem.
 

jantango

Registered
I processed a money transfer this morning with XOOM, but planned to go on Monday to complete the transfer. About an hour ago I received this email from XOOM.

Thank you for choosing Xoom. We appreciate your business.
Unfortunately, Transaction XXXXXXXX is on hold by our disbursement partner in your recipient’s country.
Pursuant to regulations in your recipient’s country, our partner is requesting additional documentation to complete your transaction.
Please provide the following information:
1. A scanned copy of a current (not expired) government issued photo ID (JPG image preferred). The following are examples of acceptable documentation:
- Passport
- Alien Identification Card
- Driver’s license​
2. Please fill out the attached form and send it back via e-mail. Please complete the entire document and be sure to reference Xoom’s Tracking Number at the top of the page. Our partner will reject incomplete forms.

3. Origin of funds (last 30 days detailed bank statement showing your name as account holder, bank's name and logo, also supporting transaction amount).

Please be assured that pursuant to our Privacy Policy, all documents will be protected, securely stored and only used for verification and identification purposes.

Please provide the requested information as soon as possible to prevent further delays, and to prevent your transaction from possibly being cancelled by our partner.

You may reply to this e-mail, or the information can be sent via fax to 1-415-651-9490.

If you have any questions, please reply to this e-mail or call our Customer Compliance Team toll free at 877-748-6444 (within Canada and U.S.), or 1-415-395-4343.

Sincerely,

Xoom Customer Compliance Team
 

Attachments

jantango

Registered
This is the longest I've waited for disbursement of my XOOM transfer. I initiated the process on Friday, sent the documents as requested on Saturday, and then went to MORE yesterday, hoping I could receive the transfer. A second email from XOOM compliance asked me to send two additional months of my bank statements which I did yesterday.

A MORE Money employee from the Libertad office called a few minutes ago with the news that they finally approved my transfer. Glad I had some cash while waiting for them to approve it.

I talked with an American woman yesterday at MORE who said she had the same problem last week, and her transfer was approved for payment yesterday.

If you use XOOM regularly as I do, be prepared for them to request documentation from you at any time.
 

vtw

Newcomer
From XOOM are you receiving US dollars on this end?

Is it deposited in your account or do you go pick it up?

Thanks--
 

jantango

Registered
What are the Bank Deposit requirements in Argentina?
To deposit money into an Argentinian bank account, you need to have your recipient’s: - Bank name - Account type - Unique banking key (CBU) — found on your recipient’s bank statement - Account currency (Argentinian peso accounts only) - Full name as it appears on their bank account (please include the paternal and maternal name) - CUIL/CUIT - Complete address, including the city and the province - A valid phone number (city code + domestic number)
Recipient Limits
The Argentinian government limits the total send and receive amount each calendar year. If more than 15,000 pesos is sent by you or received by your recipient per calendar, your recipient will need to present: * A government-issued ID, compliance form, “PEPS” document The bank will contact your recipient to obtain the required documentation, which can be sent via email or directly at the bank. If the amount exceeds 120,000 pesos in one calendar year, you must provide: * A government-issued ID * Compliance form * Proof of income once the documentation is received and approved, approval will be valid for 1 year.
 

Sojourner

Registered
Just a thought if you are bringing USD: Argentine banks (and maybe cuevas?) are notoriously fussy that the bills should be without a hint of a tear, mark, or stain. When you go to your US bank to buy 100's, ask for brand-new ones or inspect quality carefully. Banks seem to be familiar with this issue and I've always gotten good cooperation.
 

Neil

Active Member
Just a thought if you are bringing USD: Argentine banks (and maybe cuevas?) are notoriously fussy that the bills should be without a hint of a tear, mark, or stain. When you go to your US bank to buy 100's, ask for brand-new ones or inspect quality carefully. Banks seem to be familiar with this issue and I've always gotten good cooperation.
Small details, i.e very small tears ,will be rejected by banks 100% of the time, watch around the silver/blue imbedded security tape in the centre of the bill. If banks reject try a cambio/cueva:rolleyes:
 
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