Exchanging Currency

Update. Got past this latest hurdle step today and More Casa cleared me for continued txns and released the txn I was blocked from picking up last Friday. Until whatever next tier I hit I imagine. Argh!

'Soporte el fondos' requirement after hitting 50k pesos grand total was thankfully passed with just a copy of my current bank statement. PDF download from my online account. They took, scanned and made copy to send into their home office then some upper level guy aside from the normal clerks reviewed my statement and passed me. Took an extra 20 min from usual process.

[QUOTE=Mpexy; 426911]All my prior posts outlines each specific hassle / verification step imposed by either Xoom or by More Casa the pickup vendor.

This time it was More Casa (again). No matter being cleared by Xoom for higher send limits and being under cap just fine right now, More Casa told me today couldn't pickup my 1k send txn because I now have to prove that I own the sending bank account.

They told me this triggers when anyone hits 50k pesos total sent through More Casa. Didn't say time period mattered, just overall total.

So the demand now is I bring actual paper print out. Said would not accept email or PDF or digital copy- of my bank statement showing official bank statement form and at least one month worth of transactions showing the Xoom debits going from my account.

Have the prints now after hassle finding locutorio to make prints and waiting till mon when More Casa opens again. Knowing Argie logic they will say my bank txn amt doesn't match the More txn amount (because my bank will show $1030 deducted inc Xoom fee while More shows only $1000.

Will see how it goes mon but heads up if you will, be using Xoom mid to long term, new hassle trigger for this step hits at 50k pesos total via More Casa[/QUOTE]

Mongers,

I changed money at xoom for the 2nd time today. First time was just a "test" run. Today was changing for real need.

The xoom transaction online went fairly well and was approved within 4-5 hours with no paper work submission.

However, at "Money & More" counter at Libertad, it was quite a odyssey.

When I reached the Money / more counter at libertad, their were only 3 people ahead of me. But when I was done, their were at least 15 people awaiting behind me!

The guy took almost 45 minutes with me. Asked me so many questions. Believe me, I never had to answer so many questions even at US immigration or for a job interview in my life! It was like I was standing in the court for a criminal case and undergoing severe interrogation by the public prosecutor!

Questions were like " which company you work for ","what is the company's address and phone no"," what is the company's website","what are you doing in ARgentina"," Till how long you would be here"," why are you on such a long trip in Argentina"," are you single or married"."How many times a year you come to Argentina" " How many transfers you plan to make further via xoom"," why don't you use your debit card, why use money / more" " do you have another means of I'd other than your passport" etc etc etc.

It was not very pleasant. Everybody knows they are giving a blue rate (though not necessarily the best rate). I got a difference of 450 pesos, had I us$ and changed us$ directly in a cueva as compared to them!

And worse thing was to see so many people awaiting behind me! I wonder if all will go through the similar ordeal.

My first xoom transaction was on 10th Aug for 500 us$ and had gone super smooth. I was in and out of the place in like 3 minutes. But today was really horrible. What are they trying to achieve? Not sure!

Read my Xoom saga going back to aug in this thread if you got time to kill waiting for some chica to travel to your place.

You are just starting the first of many walls Xoom and More Casa puts up. All can be overcome but it's a hassle for sure

I'm not a banker nor do I play one on TV but this is what it smells like to me. Obviously somebody in government is getting wind of this. They can't really stop it because the real transfer of money is happening outside of Argentina and Xoom is only the people furnishing the cash for a service fee but CFK and Co. Know we are beating the official rate and I think they are putting pressure on Casa More to make it harder. Whatever coyma they are paying is enough to keep them in biz but not trouble free.

I could be wide of the mark here but this is my best guess.

[QUOTE=Daddy Rulz; 427139]I'm not a banker nor do I play one on TV but this is what it smells like to me. Obviously somebody in government is getting wind of this. They can't really stop it because the real transfer of money is happening outside of Argentina and Xoom is only the people furnishing the cash for a service fee but CFK and Co. Know we are beating the official rate and I think they are putting pressure on Casa More to make it harder. Whatever coyma they are paying is enough to keep them in biz but not trouble free.

I could be wide of the mark here but this is my best guess.[/QUOTE]I think the increasing hoops and paperwork are designed to protect Xoom from allegations that it is aiding and abetting money laundering. That's why periodic, relatively minor transfers are pretty straightforward, whereas continuous, semi heavy loads like those by Mpexy, draw more scrutiny and more and more paperwork.

I could be wide of the mark as well, but I'm betting Xoom is super sensitive about laundering issues, particularly here in the cradle.

What is the maximum amount of USD to exchange in one go? Would it be risky to carry 2000 USD on Calle Florida? I mean, is there a risk that the people in the cuevas will tip off some of their friends, and then you get robbed on the way back to your apartment? Should I wear a money belt etc, or am I just being overly paranoid?

Everyone has their own comfort level but mine was $1000. I felt like beyond that point, any potential improvement in the exchange rate was more than offset by the additional risk. You might want to take a wingman with you. You might want to splurge on a taxi although I sure as fuck never did. It depends on if you are 5'2" and 50kg or 6'7" and 150kg, and whether you are willing to resist. You can argue all day about whether resisting is a good idea or not but I am sure as fuck going to. So that might make the risk of robbery less and the risk of getting shanked or greased somewhat greater.

Thieves are wise to money belts so my money is taped inside of my sock. Even if they get the shoe off, they'll have a hard time with the tape and meanwhile I will hit them upside the fucking head with a brick.

The most I've changed on Florida is around $1000 USD as well. It does seem to kind of be a comfort number for me as well. However, it's so easy to do (I live close by) that I don't feel the need to change great amounts at one time anyway. Mostly I use a cueva where I wire money to an account in the States or Uruguay and go pick up the cash here locally.

I've heard stories about people getting ripped off after leaving cuevas or arbolitos, about people getting handed a wad of counterfeits, etc, etc. Seems most of these stories are not very substantiated. They come under the heading of "everyone knows." or "you always hear about." Me, I've never had a single issue or felt even a little worried and I've changed on Florida at times over 6 years living here full time.

Having said all of that, I do know personally one story of a gentleman (related to me and others who know him, in person) who lived here for decades and about a year ago moved back to his home country, who was robbed after having wired money to a change house / cueva when he went to pick up the cash. He was robbed of a serious sum of money after he left the cueva. He was in his own car, and the suspicion was that a secretary in the office alerted someone to follow him on leaving (there is some very strong circumstantial evidence to support the notion, which I will not go into here). The sum of money was somewhere in the neighborhood of $25K pesos.

This is the only nearly-confirmed story of someone being robbed by an employee alerting a thief that I know of.

I mention that only because the possibility does exist. However, I have to say. You probably have as much or more potential to be robbed leaving an ATM in broad daylight as you do being robbed leaving an arbolito on Florida. Or leaving More Money Transfers on having used Xoom to send your money.

[QUOTE=Chicago Guy;427363]What is the maximum amount of USD to exchange in one go? Would it be risky to carry 2000 USD on Calle Florida? I mean, is there a risk that the people in the cuevas will tip off some of their friends, and then you get robbed on the way back to your apartment? Should I wear a money belt etc, or am I just being overly paranoid?[/QUOTE]I exchange 10k to 20k a week when someone asks me to help them out and we always go to the same guy in the Travel Agency underground.

Broad daylight, thousands of people walking around so not likely to be robbed there.

A lucky pick-pocket might grab it if your stupid.

More likely to get robbed leaving a Bank.

Count it at the counter, stick it in your pocket or spread it around into various pockets and leave the office.

Walk a block and grab the first cab you see.

The owner / exchange person wants you to come back so he's not going to mark you himself.

And yes, you can always bring a friend with you.

I'm usually available after 1pm.

TL

[QUOTE=TejanoLibre;427372]Walk a block and grab the first cab you see.[/QUOTE]The most important advise after changing money. Grab a cab as fast as you can and go straight home. Do not try to walk home, take a bus or subte.

Or go mongering with cash tucked in pocket.

Go straight home in the first cab you see after exchanging money!

[QUOTE=Member #3320; 427376]The most important advise after changing money. Grab a cab as fast as you can and go straight home. Do not try to walk home, take a bus or subte.

Or go mongering with cash tucked in pocket.

Go straight home in the first cab you see after exchanging money![/QUOTE]Just returned from two wonderful weeks in BsAs. On two occasions I paid a taxi driver with 100 pesos notes which turned out to be fake. I obtained pesos from four different sources. Two banks (one at the airport) , an ATM and from a reliable private dealer. It also crossed my mind that the taxi drivers could have exchanged the notes without me noticing.

Are fake banknotes a big problem in BsAs?

[QUOTE=Old Coach; 427781]Just returned from two wonderful weeks in BsAs. On two occasions I paid a taxi driver with 100 pesos notes which turned out to be fake. I obtained pesos from four different sources. Two banks (one at the airport) , an ATM and from a reliable private dealer. It also crossed my mind that the taxi drivers could have exchanged the notes without me noticing.

Are fake banknotes a big problem in BsAs?[/QUOTE]BA taxi drivers are known for giving phony 100 Peso notes, especially at night when it is hard to see. I learned a long time ago from an experienced world traveler, that wherever you take a taxi, be sure to carry enough small bills so that you can give the taxi driver exact change, or very close to exact change. Modern color printers give a remarkable, especially if it is dark and you are in a hurray, phony note.

Tres3

Almost 100% certain it was the cab drivers who swapped the notes for the false ones. False notes are a problem in Bs As and the government bank note issuing policy has made this even easier. They have printed notes with differences at different times and then those printed in Brazil when the local printers couldn't keep up with the amount needed are different again.

Jot down the serial number of any big bill you hand a cab driver or take a picture with your cell phone.

When leaving a 'cueva' or bank never jump into the first cab you see. Walk quickly in the opposite direction to the traffic up to the nearest corner and take a cab going along the cross road to the one you were on. It might mean a few pesos more in fare but it'll be much safer. Very often crook cab drivers hover around these entrances waiting for a likely victim. You get in and tell him where your going the cabby has his phone open so his partners near by know which way he'll be travelling. When he slows down at a corner or a traffic light they jump in the cab one each side of you and pull out guns releaving you of your belongings.

In any cab beware of tell-tail signs such as driving too slow or slowing down to allow time for a traffic light turn to red. Locking both back doors may help but in many cars the driver can unlock then from his door. If you notice anything like this get out of the cab immediately and pay the driver once you are on the street. Always move quickly and do unexpected things. Crooks like to have everything under control and unexpected moves throw them off. Of course, this is for daylight and crowded streets. At night in lonely spots the chance of getting shot are quite high. In that case gritting your teeth and counting your loss is probably the best advice.

[QUOTE=Old Coach; 427781]Just returned from two wonderful weeks in BsAs. On two occasions I paid a taxi driver with 100 pesos notes which turned out to be fake. I obtained pesos from four different sources. Two banks (one at the airport) , an ATM and from a reliable private dealer. It also crossed my mind that the taxi drivers could have exchanged the notes without me noticing.

Are fake banknotes a big problem in BsAs?[/QUOTE]It is a well known fact that unscrupulous cab drivers take your real 100 peso notes and switch them for a fake one when you are not looking. Many drivers downtown will switch 4 to 5 a day. They are also known to plant fake notes in your change. Counterfeit currency is a major problem here. Some places downtown where the printing goes on, they print $100, 000 in fake pesos a day.

They also sell thier bills to change houses too (be careful if you are new here and don't speak spanish) , they also sell to bank employees etc. It is a jungle.

Fred.

[url]www.silverstarcar.com[/url]

Safe and Secure Limo Services in Buenos Aires.

Since 2009

[QUOTE=Member #3320; 427376]The most important advise after changing money. Grab a cab as fast as you can and go straight home. Do not try to walk home, take a bus or subte.

Or go mongering with cash tucked in pocket.

Go straight home in the first cab you see after exchanging money![/QUOTE]With respect I wouldn't do this. If you're being set up by the cuerva then the first cab you see is going to be their partner. I have many different things I do to lower my profile. The first and obvious thing I do is dress like a thug. There is the old joke about the two hunters that miss shooting at a bear and it charges. The one hunter yells RUN. The other guy says "We can't outrun a bear." And the first guy yells over his shoulder,"I don't have to outrun the bear, I just got to outrun you." Don't look like low hanging fruit.

Next I always wear a sweatshirt or sweater I can take off. If it's too hot wear two t-shirts. The cambio will be in a galaria usually in the back. Before you hit the street, change your apperance in another shop. Take off the sweater or sweatshirt. While you stroll through the galeria pay attention to who is paying attention to you. Spend 2-3 minutes walking in a circle, start walking one way and double back, look for anybody looking at you. If you don't see anybody watching you then leave, walk a block, and get in a random cab. It sounds odd but it doesn't take long, just a minute or two.

I wouldn't ever change more than 500 or 1000 at a time. Your rate won't be any better and by the time you spend the 500 the peso will have fallen more. If you have to have that much money split it up in trips and cambios.

All standard advice applies as well, check their money before parting with yours. Don't be shy or afraid of offending with this. If somebody gives you a hard time about it, pick up your dollars, throw their pesos back, call them a pelotudo and leave.

Never, ever change money on the street or at night.