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-   -   Currency Controls (https://www.flyertalk.com/forum/argentina/2002625-currency-controls.html)

CLEguy Oct 31, 21 3:51 pm

I'm not strictly concerned with overall costs while visiting Argentina (in January, knock wood), but I am wondering how I should approach my strategy for using cash or credit cards in-country. How might I think about this? Bring USD in or use ATM? Use USD or convert to ARS? Where? How much? Thoughts appreciated.

Gaucho100K Oct 31, 21 6:53 pm

No credit cards for the forseeable future.... they are widely accepted, but the exchange rate will not be good. There are talks about a special virtual bank account for tourists that needs to be funded with wired funds... but still havent seen the fine print and all the details. This system will probably give visitors a better exchange rate, but the system may not be for everybody due to the hassles etc. Best bet it to come down with USD Cash (in very good condition) and get the best exchange rate.

I will post more details as available.....

Flying Machine Oct 31, 21 9:42 pm

Current Blue Rate for reference
 
193,50
Compra
197,50
Venta

malagajohn Nov 1, 21 9:25 am

Come down with some cash and use the services of Western Union to top up as you need

Credit cards from outside the country use the official rate which is not good for the user

ATMs also use the official rate apart from the crazy charges - ok , I know some people get charges refunded but the rates are only good for the government.

The talk in the street is that the special virtual bank account mentioned by Gaucho100K will exchange at 180 to the dollar - But as he says the detail is nowhere to be seen and likely to be a hassle if you are on a 2 week vacation.

Flying Machine Nov 1, 21 9:29 am


Originally Posted by malagajohn (Post 33692438)
Come down with some cash and use the services of Western Union to top up as you need

Credit cards from outside the country use the official rate which is not good for the user

ATMs also use the official rate apart from the crazy charges - ok , I know some people get charges refunded but the rates are only good for the government.

The talk in the street is that the special virtual bank account mentioned by Gaucho100K will exchange at 180 to the dollar - But as he says the detail is nowhere to be seen and likely to be a hassle if you are on a 2 week vacation.

Western Union works incredibly well. You could even use your credit card in the US to pay for the transaction. Friends of mine send money to their family monthly. No hassle for pick up or anything as it goes directly into the Argentine bank account of the beneficiary .Rates pretty much mimics the Blue Rate

If you send it for pick up at a western union location in Buenos Aires you just have to make sure that they have available cash on hand.

CLEguy Nov 1, 21 9:35 am

This all sounds like an incredible hassle! This trip is going to be fun but enormously annoying.

Flying Machine Nov 1, 21 9:47 am


Originally Posted by CLEguy (Post 33692465)
This all sounds like an incredible hassle! This trip is going to be fun but enormously annoying.

Not at all annoying. Itíll actually be a fun experience. People on the board are going to direct you to a spot or two where you can cash crisp $100 bills into the Blue Rate. Keep in mind the Blue Rate gives you about 100% more buying power over the national rate

malagajohn Nov 1, 21 10:14 am

Just checked on the WU site a few moments ago - They are paying out at 202 today.

The only thing is that it seems that US residents are paying higher fees than Europeans.

Why?

Not sure..

Talking to a financial friend to see if he can explain why WU are paying above 200.

Eastbay1K Nov 1, 21 11:09 am


Originally Posted by malagajohn (Post 33692582)
Just checked on the WU site a few moments ago - They are paying out at 202 today.

The only thing is that it seems that US residents are paying higher fees than Europeans.

Why?

Not sure..

Talking to a financial friend to see if he can explain why WU are paying above 200.

WU probably has cash in Argentina that is fairly worthless and unable to get out of the country in any meaningful manner. The cash that "we" pay for our AR$ never enters Argentina.

And that is my speculation.

CLEguy Nov 1, 21 12:40 pm


Originally Posted by Flying Machine (Post 33692512)
Not at all annoying. Itíll actually be a fun experience. People on the board are going to direct you to a spot or two where you can cash crisp $100 bills into the Blue Rate. Keep in mind the Blue Rate gives you about 100% more buying power over the national rate

Ha, I hope so. I'd love to know some spots in BA or Mendoza (near the PH in each) where one might do that.


Originally Posted by malagajohn (Post 33692582)
Just checked on the WU site a few moments ago - They are paying out at 202 today.

The only thing is that it seems that US residents are paying higher fees than Europeans.

Why?

Not sure..

Talking to a financial friend to see if he can explain why WU are paying above 200.

WU site just now shows 207...


Originally Posted by Eastbay1K (Post 33692721)
WU probably has cash in Argentina that is fairly worthless and unable to get out of the country in any meaningful manner. The cash that "we" pay for our AR$ never enters Argentina.

And that is my speculation.

What is "the cash that 'we' pay" in this context?

Eastbay1K Nov 1, 21 1:02 pm


Originally Posted by CLEguy (Post 33693019)


What is "the cash that 'we' pay" in this context?

This is what we pay WU for our AR$ - we have no idea where that money is going, but I'd expect it not to go to Argentina, ever.

malagajohn Nov 1, 21 1:49 pm


Originally Posted by Eastbay1K (Post 33692721)
WU probably has cash in Argentina that is fairly worthless and unable to get out of the country in any meaningful manner. The cash that "we" pay for our AR$ never enters Argentina.

And that is my speculation.

Thats what I was thinking.

But surely they would put a limit on it at some point?

Brandinho1 Nov 1, 21 4:30 pm


Originally Posted by CLEguy (Post 33693019)
Ha, I hope so. I'd love to know some spots in BA or Mendoza (near the PH in each) where one might do that.



WU site just now shows 207...



What is "the cash that 'we' pay" in this context?

A little off topic but the PH in Mendoza reeked of smoke in certain areas of the hallway as this hotel is attached to a casino. Something to bear in mind.

Flying Machine Nov 1, 21 5:43 pm

Many locations for changing in Buenos Aires. Somewhat lesser options in MDZ

Closer to your date of travel feel free to PM me

Eastbay1K Nov 1, 21 7:13 pm


Originally Posted by Brandinho1 (Post 33693645)
A little off topic but the PH in Mendoza reeked of smoke in certain areas of the hallway as this hotel is attached to a casino. Something to bear in mind.

A lot off topic, unless the smoke was really coming from a cueva!


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