Has anyone gotten their account closed in the USA from wiring international wires to Argentina?

[enbits]

Not sure but there are posts on X of expats wiring to their own USD accounts and complaining it's not showing up. Not sure why.

An incoming SWIFT transaction goes through the 'MULC' system (Mercado Unico y Libre de Cambios) and the receiver must justify the income by indicating the activity (rent, professional services, etc.) and attaching an invoice. All this is done through the home banking app (example: https://www.santander.com.ar/personas/cobros-del-exterior#0_Paso-1)

Maybe that's why they don't see the money, but sending a bunch of money from personal account abroad to personal account in Argentina without justification is not a good idea at the moment.

 

[Jeb Spencer]

An update. Very easy. I went downtown on Avenida 25 de Mayo where all the banks are. I just had to show my ID and they had a secured door system. They had a big office and offered me coffee and a manager came out and thanked me for my business and asked me if I wanted USD or pesos or a combination of both. Wow, it was a very easy experience. The man joked that I was lucky I wired yesterday and not today. I asked why and he said there is a bank holiday in the USA Today. I didn't even know.

Very professional operation. I can't recommend enough. I only paid 2.5% and it was easy wiring to a USA bank account. I finally found what I was looking for. Thank you everyone! Thank you @BuySellBA for this service.

Great @ben! Thanks for coming back to let us know how quick and easy that was. Wow, that seems like less than 24 hour turn around. Impressive. The is a very good rate too and peace of mind of getting backed by an actual company that has been around a long time and run by an American. I guess I found my new cueva! Did you get any pesos? Do they have larger 20k notes? Were the $100 bills all newer blue bills?

Any downside at all about using them? Seems too good to be true!

 

[enbits]

But are you an American or Argentine? My friends that are Argentine don't seem to have many delays. One it took a week. It seems to be Americans with DNIs that are having the issues. I would assume you aren't American @enbits?

I'm not American, check this comment for more clarification on how incoming SWIFT transactions are processed: https://www.expatsba.com/threads/ha...nal-wires-to-argentina.5548/page-3#post-36373

Basically sending money from abroad to yourself without justifying the income is not a good idea.

 

[Jeb Spencer]

An incoming SWIFT transaction goes through the 'MULC' system (Mercado Unico y Libre de Cambios) and the receiver must justify the income by indicating the activity (rent, professional services, etc.) and attaching an invoice. All this is done through the home banking app (example: https://www.santander.com.ar/personas/cobros-del-exterior#0_Paso-1)

Maybe that's why they don't see the money, but sending a bunch of money from personal account abroad to personal account in Argentina without justification is not a good idea at the moment.

But friends have done this with their banker and their banker is the one telling them it will work. @earlyretirement posted this below. My friends that are American have also wired in with instructions from their banker and all are having the same results. Held up funds for months.

 

[Betsy Ross]

An incoming SWIFT transaction goes through the 'MULC' system (Mercado Unico y Libre de Cambios) and the receiver must justify the income by indicating the activity (rent, professional services, etc.) and attaching an invoice. All this is done through the home banking app (example: https://www.santander.com.ar/personas/cobros-del-exterior#0_Paso-1)

Maybe that's why they don't see the money, but sending a bunch of money from personal account abroad to personal account in Argentina without justification is not a good idea at the moment.

It sounds easy enough but I have a friend who has an accountant and they did do the invoice through MULC but there must be something going on with Americans and IRS or something blocking it @enbits. I too know a few people that were told after CEPO ended it would be easy and it's been anything BUT easy. $$$$ getting lost in space. Many people having some issues. They all seem to be Americans.

 

[Albany]

Ohhhh I didn't know you guys know one another from a property rental. I thought you were just on the forum. How cool that you rented Mike's place for a year. Wow. I thought he only did short-term rentals. Anyway, I am going back and forth so maybe we can meet each other on my next trip. Not sure when I will come back. I found BA really expensive. I found my apartment and glad that is settled. After 4 more payments it's all mine.

Wow what were the terms of a yearly lease? I am always hesitant renting out my place for a year. Was it on Airbnb? How was it @Darksider415? I never remember seeing posts about you renting a year with Mike. I would be curious to hear. I'm looking for a nice place for my mum to come and stay here a year but my place is too small and most of the Airbnb have terrible mattresses and furniture. Was it comfortable? Can I ask where it was? Terms?

But are you an American or Argentine? My friends that are Argentine don't seem to have many delays. One it took a week. It seems to be Americans with DNIs that are having the issues. I would assume you aren't American @enbits?


An update. Very easy. I went downtown on Avenida 25 de Mayo where all the banks are. I just had to show my ID and they had a secured door system. They had a big office and offered me coffee and a manager came out and thanked me for my business and asked me if I wanted USD or pesos or a combination of both. Wow, it was a very easy experience. The man joked that I was lucky I wired yesterday and not today. I asked why and he said there is a bank holiday in the USA Today. I didn't even know.

Very professional operation. I can't recommend enough. I only paid 2.5% and it was easy wiring to a USA bank account. I finally found what I was looking for. Thank you everyone! Thank you @BuySellBA for this service.

This is great. I don't like using cuevas but I would definitely feel safe using the @BuySellBA bank. Finally a bank that I would feel totally safe about. Do you know if they allow European banks to wire in? Do they have an EU to EU option? What about crypto?

 

[Darksider415]

But friends have done this with their banker and their banker is the one telling them it will work. @earlyretirement posted this below. My friends that are American have also wired in with instructions from their banker and all are having the same results. Held up funds for months.

View attachment 9374

For a transfer from personal to personal, code it as A07 and it should go through.

If you have an LLC or S corp, you can invoice the company through a Factura E and then wire it in that way, and it'll settle same-day from my experience.

 

[Betsy Ross]

For a transfer from personal to personal, code it as A07 and it should go through.

If you have an LLC or S corp, you can invoice the company through a Factura E and then wire it in that way, and it'll settle same-day from my experience.

You or @enbits should set up a consulting company guiding expats how to safely wire in cash. Or other related services. Lots and lots of expats are having issues. What is the fee you pay @Darksider415 or @enbits to wire in cash? Let's say you wired in $1,000 USD from your account outside to your USD account here. How much in fees do the banks charge on both sides?

 

[carrider]

Cuevas sound scary but they work quite well. Key Is to go with one around long enough. Some will do crypto but I didn't mess around with crypto. 2.5% to 2.75% or so is normal. @Jenn I am also in Malaga! Let me know if you're keen to meet up.

I never liked the entire premise of cuevas where you wire your money first. Also the rates can jump around a lot. Most will give you 24 hours. During the tax amnesty where there was a huge demand for cash it went over 5% here locally. I had to wire in funds during that mess and it was expensive!

An incoming SWIFT transaction goes through the 'MULC' system (Mercado Unico y Libre de Cambios) and the receiver must justify the income by indicating the activity (rent, professional services, etc.) and attaching an invoice. All this is done through the home banking app (example: https://www.santander.com.ar/personas/cobros-del-exterior#0_Paso-1)

Maybe that's why they don't see the money, but sending a bunch of money from personal account abroad to personal account in Argentina without justification is not a good idea at the moment.

My local friends that freelance do that and they don't have any problems. I wonder if it's a foreigner issue. Strange.

Wow what were the terms of a yearly lease? I am always hesitant renting out my place for a year. Was it on Airbnb? How was it @Darksider415? I never remember seeing posts about you renting a year with Mike. I would be curious to hear. I'm looking for a nice place for my mum to come and stay here a year but my place is too small and most of the Airbnb have terrible mattresses and furniture. Was it comfortable? Can I ask where it was? Terms?


This is great. I don't like using cuevas but I would definitely feel safe using the @BuySellBA bank. Finally a bank that I would feel totally safe about. Do you know if they allow European banks to wire in? Do they have an EU to EU option? What about crypto?

I agree having a big company with a good track record would make wiring in funds very secure. Mike has been doing operations in Argentina for 2 decades. Probably the most famous expat in Argentina. Every banker in town probably knows who he is. Doubt he is going to allow anything to happen to bank wires. If it is USA to USA that should be very easy. He buys real estate every day so he probably had to set up this infrastructure anyway. I am not clear. Is this cueva only available to his real estate customers???

 

[Anchor Baby]

@ben I was curious since you play so much by the book. Do you own any properties in the USA? I guess if you own car washes you own that real estate. Are you really declaring all of those assets in Argentina too? I was told you legally have to pay Bienes personales (asset taxes) on ALL your assets you have outside of Argentina. Are you really declaring all of those carwashes and real estate? If so that would be crazy!

 

[enbits]

But friends have done this with their banker and their banker is the one telling them it will work. @earlyretirement posted this below. My friends that are American have also wired in with instructions from their banker and all are having the same results. Held up funds for months.

View attachment 9374

Have they called Banco Galicia and they have not found it either?

 

[lemonade]

Have they called Banco Galicia and they have not found it either?

I also had a friend that wired into Banco Galicia and funds disappeared. Was also American so not sure. He said they can't find it.

 

[earlyretirement]

Have they called Banco Galicia and they have not found it either?

Of course they did! Come on @enbits that is kind of a stupid comment. You don't think they are going to call Banco Galicia? LOL. This is someone I personally now and trust and he sent me that. He is a former client and has been investing in Argentina a long time. I think you underestimate just how terrible your banks are in Argentina.

 

[lemonade]

By the way, is someone familiar with the Lemon Cash app? I guess I should know being that I'm a Lemon head but I don't know. I saw this question online and made me wonder. I read you can connect the Lemon Cash account with Mercado Pago and can possibly send yourself dollars or Crypto to your Lemon Cash account and then use the funds to fund a Mercado Pago account to make payments. Anyone done this?

I read that connecting Mercado Pago to Lemon App is optional. But it said that Lemon gives you a Visa debit card that you can use to make payments. But you can also connect it to MP to avoid people knowing you are using Lemon App and it will go through the payment system MP that people are used to.

 

[enbits]

Of course they did! Come on @enbits that is kind of a stupid comment. You don't think they are going to call Banco Galicia? LOL. This is someone I personally now and trust and he sent me that. He is a former client and has been investing in Argentina a long time. I think you underestimate just how terrible your banks are in Argentina.

Sorry, didn't know about that. I thought these were just comments on twitter.

 

[nikad]

Hi @Jenn and @James Bond I got your DM's and I sent you my dates. I will arrange a group lunch if possible. I have a busy schedule in Malaga as I have so many friends there. Jenn, I will have more days in Barcelona if you happen to be there. I'm there 2 weeks. I sent you my dates. I'm with my family but can meet up without them as they will be busy with friends and sightseeing.

It will be cool to meet both of you in Spain. I'm meeting up with some other people from X that I mentor. I just met a few people from this forum a few weeks ago. @sophos, @Darksider415 , @Betsy Ross , @Che Vos and a few others. All of you owe me a favor now! I probably brought in $15k worth of stuff!

See you both in Spain!

That is neat that you are meeting some of the people on this forum. I have followed you for a long time @earlyretirement. Let me know if you are open to meet on a future trip to Buenos Aires. I would love to buy you a coffee in appreciation for all your posts over the years. You are my favorite poster on the old forum.

But are you an American or Argentine? My friends that are Argentine don't seem to have many delays. One it took a week. It seems to be Americans with DNIs that are having the issues. I would assume you aren't American @enbits?


An update. Very easy. I went downtown on Avenida 25 de Mayo where all the banks are. I just had to show my ID and they had a secured door system. They had a big office and offered me coffee and a manager came out and thanked me for my business and asked me if I wanted USD or pesos or a combination of both. Wow, it was a very easy experience. The man joked that I was lucky I wired yesterday and not today. I asked why and he said there is a bank holiday in the USA Today. I didn't even know.

Very professional operation. I can't recommend enough. I only paid 2.5% and it was easy wiring to a USA bank account. I finally found what I was looking for. Thank you everyone! Thank you @BuySellBA for this service.

This is a very fair fee. I just contacted them to make a wire. Do you know if they can use Zelle to get payments? I will contact them. I need to do a wire here to buy a new car.

 

[Che Vos]

Have they called Banco Galicia and they have not found it either?

But you don't think first thing someone would do is storm to their bank and ask where the money is? 🤣🤣🤣

Let me know when you're back in BA and I'll buy lunch if you can find the time.

Hey at least we have something in common @Darksider415. Johnny and Mike told me you asked for many things to bring too! 🤣
Mike tell me me bring some electronics for you too.

But are you an American or Argentine? My friends that are Argentine don't seem to have many delays. One it took a week. It seems to be Americans with DNIs that are having the issues. I would assume you aren't American @enbits?


An update. Very easy. I went downtown on Avenida 25 de Mayo where all the banks are. I just had to show my ID and they had a secured door system. They had a big office and offered me coffee and a manager came out and thanked me for my business and asked me if I wanted USD or pesos or a combination of both. Wow, it was a very easy experience. The man joked that I was lucky I wired yesterday and not today. I asked why and he said there is a bank holiday in the USA Today. I didn't even know.

Very professional operation. I can't recommend enough. I only paid 2.5% and it was easy wiring to a USA bank account. I finally found what I was looking for. Thank you everyone! Thank you @BuySellBA for this service.

Great! I need to move some money from Spain to Argentina. I get inheritance from my aunt who died. @earlyretirement can you help me? I will send you a WhatsApp!

 

[enbits]

But you don't think first thing someone would do is storm to their bank and ask where the money is? 🤣🤣🤣

Hey at least we have something in common @Darksider415. Johnny and Mike told me you asked for many things to bring too! 🤣
Mike tell me me bring some electronics for you too.


Great! I need to move some money from Spain to Argentina. I get inheritance from my aunt who died. @earlyretirement can you help me? I will send you a WhatsApp!

Can the members of this forum stop trolling me about this message? I just wanted to ask what was Banco Galicia response. 😠

 

[Avocado]

Can the members of this forum stop trolling me about this message? I just wanted to ask what was Banco Galicia response. 😠

I don't think anyone troll you but you really think Americans are so stupid not to call bank first thing! Only some American on this forum very idiot but they already banned. First thing anyone do if they have problem is call receiving bank.

I also curious what USA bank and Banco Galcia say?