Exchanging Currency

[Gandolf50]

After a session, we got on the subject of exchanging currency, I was complaining about the three day weekend: I was looking forward to a cashless Monday night unless I was willing to submit to an ATM ass-f. She says "I'll buy your dollars." I explained about Xoom and the cuevas (I got the impression she was new to everything, I had to explain what a cuevo is). I quoted the current rates and said I couldn't take anything less than 6. 0. She said "ok."

A lot of chicas who send money home are paying as much as 7. 50 pesos for each dollar at the destination point. I sell to two chicas I know for 6. 50 and a discount on their services.

[Gbartoli]

After a session, we got on the subject of exchanging currency, I was complaining about the three day weekend: I was looking forward to a cashless Monday night unless I was willing to submit to an ATM ass-f. She says "I'll buy your dollars." I explained about Xoom and the cuevas (I got the impression she was new to everything, I had to explain what a cuevo is). I quoted the current rates and said I couldn't take anything less than 6. 0. She said "ok."

[Muktar]

Since it was closed for Sunday and yesterdays Feria, today it was somewhat crowded but Scalabrini exchange was 6.1.

M

[Dccpa]

You can get gold coins, etc down here but the spread is pretty wide. Have you checked out.

www.goldmoney.com

?

I was referring to selling gold coins in BS as a way of avoiding money transfers or dealing in USD currency. But if the spread is wide in BA, then my idea probably wouldn't work. For buying 1oz gold eagles in the US, Goldmart. Com is the best place that I have found. Unless you are fairly wealthy, goldmoney has too many fees.

[Silver Star]

I am curious as to whether anyone has tried to or knows the market for selling gold coins in BA? Xoom seems to be a great method and friends in AU vouch for it. But for someone like me who believes the USD is headed downward, gold is a preferred place to keep my money.

You can get gold coins, etc down here but the spread is pretty wide. Have you checked out www.goldmoney.com?

[Dccpa]

I am curious as to whether anyone has tried to or knows the market for selling gold coins in BA? Xoom seems to be a great method and friends in AU vouch for it. But for someone like me who believes the USD is headed downward, gold is a preferred place to keep my money.

[Mpexy]

Interesting. This time, my third transaction and after doing all the verification docs I wrote about earlier, had the More Casa guy ask me different questions and he filled out a long one sheet paperwork for me by asking questions while he wrote, then had me sign in.

Either is because 3 transaction in just over week, or because of amount. Previously did $300 and $700 xfers, this time tried $1k. Or whatever random reason, the guy asked me beyond the usual are you tourist or live here, to which always said tourist.

Today he asked me how long I was staying as tourist and I told him 90 days, then had me answer questions for his form:

-am I single or married.

-occupation.

-local Argentina phone number.

Didn't take too long. Maybe an extra 8-9 min as he filled that out and made a call. After that was the normal process and count of pesos.

Wonder if they get more strict if you say you live here vs tourist, or whether More has different limits than Xoom. Either way so far so good but kind of curious what More Casa will do as I try larger xfers

[Mpexy]

So my glow around ease of using Xoom to transfer dollars to pesos at reasonable rates hit a snag today.

First xfer went through in minutes. Sent another today. Far under any limit rules. And got an email saying they needed additional verification info. Government photo I'd and bank or utility statement with current address displayed

Somewhat of a hassle if I was at home in my home office to easily scan copy and fax these in. Lot more of a hassle once you're abroad and don't easily have access to send these in.

I ended up using my iPhone to take a pic of my identity docs, and a PDF download from my bank of recent statement and sent that in via email (verification email had option to reply via email with docs attached or fax to their number)

Think these is maybe where the week+ delay people talked about may come in. Sent in early morning today and will update after however long it takes to complete

So good news, at least this time, is after I sent in my verification docs described above, I got an email back around end of day saying that step was done and the hold on my transaction removed. Few min after that, got the standard email saying my transaction ready for cash pickup.

Call it about 1 day delay to submit, process, and have this step completed. Hoping that is it and now all other transactions go smooth. Although the interesting next milestone will be when I test the going over $2999 over 30-day period

[Buckinup]

I just used it. After I did the transfer I got an e-mail that originated from Xoom's Argentina partner wanting a local phone number. I replied to that saying I didn't have a local number yet, only the US one. Must have satisfied them, because all went well after that.

Mpexy-thanks for the Xoom update. Your experience seems to be pretty much par for the course, at least from what I've read on local expat forums. I've not used Xoom, but its only a matter of time.

[El Perro]

So my glow around ease of using Xoom to transfer dollars to pesos at reasonable rates hit a snag today.

First xfer went through in minutes. Sent another today. Far under any limit rules. And got an email saying they needed additional verification info. Government photo I'd and bank or utility statement with current address displayed

Somewhat of a hassle if I was at home in my home office to easily scan copy and fax these in. Lot more of a hassle once you're abroad and don't easily have access to send these in.

I ended up using my iPhone to take a pic of my identity docs, and a PDF download from my bank of recent statement and sent that in via email (verification email had option to reply via email with docs attached or fax to their number)

Think these is maybe where the week+ delay people talked about may come in. Sent in early morning today and will update after however long it takes to complete

Mpexy-thanks for the Xoom update. Your experience seems to be pretty much par for the course, at least from what I've read on local expat forums. I've not used Xoom, but its only a matter of time.

[Mpexy]

So my glow around ease of using Xoom to transfer dollars to pesos at reasonable rates hit a snag today.

First xfer went through in minutes. Sent another today. Far under any limit rules. And got an email saying they needed additional verification info. Government photo I'd and bank or utility statement with current address displayed

Somewhat of a hassle if I was at home in my home office to easily scan copy and fax these in. Lot more of a hassle once you're abroad and don't easily have access to send these in.

I ended up using my iPhone to take a pic of my identity docs, and a PDF download from my bank of recent statement and sent that in via email (verification email had option to reply via email with docs attached or fax to their number)

Think these is maybe where the week+ delay people talked about may come in. Sent in early morning today and will update after however long it takes to complete

[Madu666]

Anyone know an exchangerate for euros at a cuevo?

[Mpexy]

As soon as I read your last report. 1 hour ago. I dashed to the cueva (Scalarabini Ortiz why Cervino) to change the money.

Though they gave me a rate of only 6. 0 and NOT 6. 1.

Did I miss out a trick or two.

Thanks

I got 6:1 too. You might have confused my other post right below the Scalabrini cueva one which was my Xoom transfer.

Picked up my Xoom transfer which when I sent it last thur night was 6. 1 to 1

At Scalabrini cueva I got 6. 0 to 1, which based on current Xoom of like 5. 9x is better since effective Xoom rate after transfer fees is like 5. 7x

[Mpexy]

You should do this the other way around: "What rate can you give me if I exchange X dollars?" Often, although not always, the more you are exchanging the better the rate will be. I know this to be true in the case of this particular cueva.

Sure beats waiting in line at Paris Cambio and having to show your passport every fucking time.

Thanks for the tip. I'll try this next time.

[Member #3320]

As soon as I read your last report. 1 hour ago. I dashed to the cueva (Scalarabini Ortiz why Cervino) to change the money.

Though they gave me a rate of only 6. 0 and NOT 6. 1.

Did I miss out a trick or two.

Thanks