Xoom Monthly Limit Question

[steveinbsas]

If I remember correctly, the monthly limit to transfer funds without extra paperwork is $5000 pesos.

Does anyone know if that applies to a calender month or any thirty day period?

 

[ajoknoblauch]

If I remember correctly, the monthly limit to transfer funds without extra paperwork is $5000 pesos.

Does anyone know if that applies to a calender month or any thirty day period?

Well, I just transferred US$1100 (well over 5000 pesos) a week or so ago.

 

[steveinbsas]

Well, I just transferred US$1100 (well over 5000 pesos) a week or so ago.

Good to know. Last January I transferred just about that amount in dollars (when the ate was less than 7 to 1 and had to fill out forms and send copies of my ID as well as bank statements to xoom's partner in Argentina.

Last month someone I know transfered a net amount of $4600 in pesos from the USA to an Argentine citizen and xoom sent it in two separate amounts: $3000 and $1600 pesos.

 

[nikad]

I think it is 2999$ with no extra paperwork, then they will want more, and more and more.

 

[ajoknoblauch]

Good to know. Last January I transferred just about that amount in dollars (when the ate was less than 7 to 1 and had to fill out forms and send copies of my ID as well as bank statements to xoom's partner in Argentina.

Last month someone I know transfered a net amount of $4600 in pesos from the USA to an Argentine citizen and xoom sent it in two separate amounts: $3000 and $1600 pesos.

I sent it to my nephew (an Argentine), who pays the apartment bills when we're not around. I did so from Chile, but on my US bank account.

 

[steveinbsas]

I think it is 2999$ with no extra paperwork, then they will want more, and more and more.

That's what I went though with the third transfer I made in less than 30 days.

I think they ask for even more paperwork when anyone goes over the $40K peso threshold for the year.

The $40K "threshold" was the same at the Banco Ciudad for annual purchases at their art auctions in 2008.

If I understand correctly, once that threshold is reached, paperwork starts flowing to AFIP.

 

[studiodio]

I am in the same boat. When i tried to do a transfer last week of 2,500 dollars worth of pesos, i was asked to supply a recent copy of my bank statement, and fill out a form stating where the money came from....this makes me very nervous letting my bank info be known....steve, when you say "paperwork starts flowing to AFIP" do you mean that then maybe i will be taxed on this money???