Tag Archives | money transfer

Money Transfer Services to Require a CUIL

Let me start by saying, this is not an April Fool’s joke unfortunately…

Argentina Money Transfer Services Require CUILAs of April 1, 2015, any foreign national residing in Argentina for more than 90 days will be required to present a CUIL or CUIT in order to pick up money from any of the money transfer services (Xoom, Azimo, Ria, etc.). This does not apply if your last date of entry into Argentina is less than 90 days ago.

As many expats live here illegally by overstaying their tourist visa and simply pay the $600 peso overstay fee when they leave, this will have an immediate effect on their ability to get money into the country through these services. That 90 day trip to Colonia for a new visa stamp might make a lot more sense now, even if it does expose you to additional scrutiny at the border.

To get a CUIL (Código Único de Identificación Laboral) or CUIT (Clave Única de Identificación Tributaria), you have to have a DNI (Documento Nacional de Identidad). And, to get a DNI, you have to be a legal resident.

UPDATE: Some people are reporting that as of April 20, 2015, Xoom is not asking anyone to provide a CUIL.

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Send Money From The UK To Argentina For Free

Reduced Rate to Send Money From UK to ArgentinaUPDATE: This offer is over, but check out our main Azimo page for updated codes and deals. You can still get a £10 Amazon.co.uk Gift Certificate for your first transfer using the links here.
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For those of you who want to send money from the UK to Argentina at the blue rate, we’ve got good news!

Azimo (whom we’ve written about before) is celebrating their one year  anniversary by making all transfers free for the month of October. That’s right, you’ll get a rate of £1 = ARS $13.85 with absolutely no fee. This offer ends October 31, 2013, so you’d better hurry.

Time to get sending money!

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Send Money from the UK to Argentina

UPDATE: Added some new promo codes and rate info! Plus, use the links below and you’ll receive a £10 Amazon.co.uk Gift Certificate on your first transfer.
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Azimo is a new service that allows anyone from the United Kingdom to send money to Argentina – and get the blue rate!

Money Transfer UK to ArgentinaWe’ve previously written extensively about Xoom, but that only works for those with a US bank account. Well, now is the time for Brits to get in on the money-sending action too.

Azimo allows you to send money using any UK debit card, online or telephone banking, or by going into a Barclay’s bank if you’re in the UK. You can then pick up the money in Argentina from a wide range of locations (a lot more than Xoom offers) or send it directly to a bank account. Please note that while their site states that you can pick up US dollars or pesos, that is not correct. You can only get Argentine pesos.

So, what is the rate? Currently it’s an impressive £1 = ARS $21.15 with their standard £5 transfer fee. Compare this to the official rate of £1 = ARS $13.63, and that’s an extra 55% on your money! There is currently a limit of £899.99 every 30 days, but that can be raised by providing proof of identity.

For a limited time, if you use the promotion code 2MYFIRSTTRANSFER or UPTOSPEED when sending, you’ll get the transfer fee (£5) for free as well. (You can also try the code AZIMODISCOVERBA.) And, if you click through my links, you’ll get a £10 Amazon.co.uk Gift Certificate on your first transfer.

Here’s a quick overview video of their incredibly simple process:

Go give Azimo a try now and let us know in the comments how it worked out for you.

(Please note that I earn a referral fee if you use my links above. It’s a great service and I appreciate the support!)

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Xoom Updates: Still Best Way To Send Money To Argentina

Money Transfer ArgentinaXoom has consistently been the US expat and tourist’s best way to send money to Argentina and take advantage of the discrepancy between the official exchange rate and the blue market exchange rate. For example, today’s official rate is $4.913, the blue market rate is $6.780 and Xoom is paying $6.313 before fees. We’re seeing more and more people choosing this option to extend their dollars’ purchasing power in Buenos Aires.

Of course, in Argentina things can change in a moment’s notice and Xoom and More Money Argentina (their local transfer partner), just announced that the sending limit has been lowered from U$S 2,999 per transaction to U$S 2,000 per transaction due to “new regulations.” At this time it appears that the 30 day limit of U$S 6000 has not changed. Unfortunately this means that you’ll be paying more fees to Xoom if you regularly moved larger amounts.

Also, when picking up money at More Money’s only location in Capital Federal at Libertad 1057, you’ll need to be prepared to provide the following documentation (as posted at their site):

Dear Customer:

Under present Argentine Authority’s regulations — A.F.I.P., Anit-Money-Laundering Law Nr. 25.246 and Financial Information Unit (UIF) Resolution 66/2012 — in accordance with F.A.T.F (Financial Action Task Force) rules, MORE MONEY TRANSFERS SERVICE is compelled to request from all its clients (those ordering or receiving money remittances) the following data:

  • Full name
  • Passport or MERCOSUR ID
  • Marital status
  • Address in Argentina
  • Telephone number (in Argentina)
  • E-mail
  • What links you to the sender?
  • Activity or purpose of your stay in Argentina
  • Purpose or destination of the money of this transaction
  • CUIT, CUIL or CDI (if applicable)
  • Source of funds involved in this transaction
  • If remittances amount is larger than AR $5,000, a sender’s identification number must be provided. Passport, ID Cards, Driver’s License and SSN are equally valid.
  • If remittance amount accumulates with previous transfers (on annual basis) a sum larger than AR $40,000, you must provide information about the origin of monies involved, such as: a sender’s bank statement, senders source of income (salary receipt, employment contract).

It’s a bit of a process but still very much worthwhile for the favorable exchange rate. And if you use our link, Xoom will send both of us a $25 Amazon.com gift card after your first transfer.

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