Originally Posted by
USAFAN
Gaucho100K:
I just checked my bank in Germany. I could wire (ON-LINE?) ARS (or US-$) from my German Euro account to a bank in Argentina. What is the problem? Just asking ... I still remember that you have been in the financial business in your "first life".
BTW, instead of bringing notes/cash, he could ask the German bank for an "Order Scheck" .... a secure bank check, which can be deposited in a local bank account.
Hello USAFAN-- Im not saying that wiring funds will be a problem.... and its certainly possible to wire funds down to Argentina, be it online as you correctly state, or through a normal teller transaction. The issue is that the "problems" will start when you approach a local bank and want to clear those funds and withdraw them. You will have to be prepared to fill out paperwork, explain in detail where the money comes from... its not all automatic and straight-forward as it may be to issue an outgoing wire from your bank. The reasons for this are various... of course, your local bank knows who you are (after all, you have an account with them)... but here one needs to understand that the bank receiving the funds may not know you well, may need to verify various things.... after all, there are nowadays more and more controlls & international regulations on $$$ laundering & other related issues, etc. etc.
Apart from the traditional controls, in Argentina there are specific regulations that also add red tape (and costs) to these types of transactions..... again, I dont know your specific situation and if you already are a legal resident of Argentina, and have a local account established, its of course easier for you to do this.... but still, depending on which bank you have an account with, you will be asked to fill out several forms and you will still be forced to convert your foreign currency to Pesos, regardless of what currency you wish to withdraw the funds in.
As for the special confirmed cheque that you mention... to my knowledge such a cheque is not depositable in a local bank account... I could be wrong, but Im 99% sure. Not saying you cant cash such a cheque down here, but to do that you would have to go to an Exchange Bureau or Brokerage Firm that has an account in Europe and the fees involved would be important (at least 3%), and in some cases depending on what bank the draft/cheque is issued against you may have to await collection before they pay you.
One last thing... you mention in your post that you can wire AR$ (or US$) from your Euro bank account... please note that wiring AR$ from Germany is not feasible. The Peso is not an internationally convertible currency, so your German bank cannot transact in Pesos... what they will do is send a "Gegenwert" or equivalent amount in either Euros or Dollars that would match some amount you may be able to fill out in Pesos. In any case, its an issue of games with the unit of measure...
Cheers,
Alex