Thread: Exchanging Currency

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  1. #471
    Quote Originally Posted by Mpexy  [View Original Post]
    Yes on the concept, no to the specific number because those change all the time. You have to compare what rates each are giving at the time and adjust each based on whatever expenses you incur to use each.

    Example. Right now this moment, today, Xoom would be just over 6. 1 to 1 pesos, but as noted you pay a small xfer fee. You get slightly better deal the more you xfer but say you did $500 USD today. Bank xfer fee which is lowest would be $15. 75. That means the actual EFFECTIVE rate after fees is more like 5. 93 to 1.

    Now compare that to the queue on Scalabrini. Didn't go today but last I went was 6:1, and recent poster below says 6. 1 to 1.

    With round trip taxi bit more to the cueva than Xoom pickup store, the effective cueva rate if it was 6:1 comes out for me to 5. 95 to 1.

    Basically for me the cueva can offer about 0. 1 less exchange and its about same deal as Xoom. If cueva offers bit more, than its always better deal because of Xoom xfer fee.

    Bottom line, both are, pretty much equal in my eyes. I'd bring a ton of cash and use Xoom at same time because as posted there's some delays, hassles, and possible limit cut offs with Xoom. Best to have both good supply of USD while using Xoom in between
    Thanks for the good advice.

  2. #470
    Senior Member


    Posts: 428
    Quote Originally Posted by TheRaven  [View Original Post]
    So let me get this straight. If I go through Xoom I will get a rate of 6. 1:1. If I just go to Scalabrini cueva with USD in hand they will exchange at a rate of 6. 0:1 and I don't have to pay the Xoom fees?
    Yes on the concept, no to the specific number because those change all the time. You have to compare what rates each are giving at the time and adjust each based on whatever expenses you incur to use each.

    Example. Right now this moment, today, Xoom would be just over 6. 1 to 1 pesos, but as noted you pay a small xfer fee. You get slightly better deal the more you xfer but say you did $500 USD today. Bank xfer fee which is lowest would be $15. 75. That means the actual EFFECTIVE rate after fees is more like 5. 93 to 1.

    Now compare that to the queue on Scalabrini. Didn't go today but last I went was 6:1, and recent poster below says 6. 1 to 1.

    With round trip taxi bit more to the cueva than Xoom pickup store, the effective cueva rate if it was 6:1 comes out for me to 5. 95 to 1.

    Basically for me the cueva can offer about 0. 1 less exchange and its about same deal as Xoom. If cueva offers bit more, than its always better deal because of Xoom xfer fee.

    Bottom line, both are, pretty much equal in my eyes. I'd bring a ton of cash and use Xoom at same time because as posted there's some delays, hassles, and possible limit cut offs with Xoom. Best to have both good supply of USD while using Xoom in between

  3. #469
    Quote Originally Posted by Mpexy  [View Original Post]
    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
    So let me get this straight. If I go through Xoom I will get a rate of 6. 1:1. If I just go to Scalabrini cueva with USD in hand they will exchange at a rate of 6. 0:1 and I don't have to pay the Xoom fees?

  4. #468

    Chicas / Dollars

    Quote Originally Posted by Gbartoli  [View Original Post]
    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.

  5. The Following User Says Thank You to Gandolf50 For This Post:


  6. #467

    Next Time Try Las Chicas

    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."

  7. The Following User Says Thank You to Gbartoli For This Post:


  8. #466

    Scalabrini today 6. 1 for 8 21

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

    M

  9. #465
    Senior Member


    Posts: 192
    Quote Originally Posted by Silver Star  [View Original Post]
    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.

  10. #464
    Quote Originally Posted by Dccpa  [View Original Post]
    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?

  11. #463
    Senior Member


    Posts: 192

    Different angle

    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.

  12. #462
    Senior Member


    Posts: 428

    Xoom. 3rd transaction, paperwork for More

    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

  13. #461
    Senior Member


    Posts: 428

    Xoom verification step

    Quote Originally Posted by Mpexy  [View Original Post]
    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

  14. #460

    Xoom experience

    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.

    Quote Originally Posted by Doggboy  [View Original Post]
    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.

  15. #459
    Quote Originally Posted by Mpexy  [View Original Post]
    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.

  16. #458
    Senior Member


    Posts: 428

    Xoom snag

    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

  17. #457

    Euro Exchange

    Anyone know an exchangerate for euros at a cuevo?

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