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

[earlyretirement]

Wow! I never heard of this! So if I have Argentine residency I can take $126,500 in tax free income from the USA? Do I need to share anything with ARCA about this? Or could I take that deduction and not declare that income in Argentina? That sounds too good to be true! All I would pay is the self-employment tax? Wow!


I just got a place and furnishing it. I need to send in a rather large amount. 2.5% sounds great! @earlyretirement I sent you a DM. Thanks!

Got your DM and responded. Sure, I sent you the details. The rate fluctuates based on supply and demand locally. But the rate is typically around 2.5% or so. I don't like dealing with amounts less than $5,000. But I can help any forum members in good standing. My company has a very long track record in Argentina so it should be the safest method available for any expat wanting to send cash into Buenos Aires. As mentioned, there are 3 bank offices to choose from to pick up your funds. Downtown in the financial district, La Lucila in a very secured building and Tigre. All have armed guards in the facilities and completely safe. Your funds are guaranteed until you pick it up. Safest method in all of Argentina to get cash.

My friend told me all kinds of horror stories. Her friend had a DNI and he bought a bunch of stuff on Mercado Libre and the Argentina IRS came and asked him all kinds of questions I guess as he didn't declare any local income.

He also tried wiring in money for his residency and it vanished for over 2 months. I am not sure how that turned out but I read a lot of posts on X of the same thing happening. You would have to have a death wish to wire money to Argentina!

My friends all used cuevas. They were paying between 2.5% to 3%. I think sending USDT is even cheaper. I was set to come to BA and then canceled due to the mosquito situation (I'm allergic to mosquitos) and then others suggested I skip winter there. I am very happy in Malaga.

@earlyretirement I have a friend there now that needs to wire some money down there. Can she use you? She is not on this forum. Is there a minimum amount? I will DM you.

Sure @Jenn have her sign up for an account at ExpatsBA and tell her to DM me and give details of your friend and I'll hook her up. My rates at my bank are similar to what she was paying. I can also handle USDT and BTC as well.

Awesome you are in Malaga! I knew you were in Spain but didn't know you were in Malaga! I have a LOT of friends there. I'm going there in a few week. DM me if you'd like to meet up or need anything from the USA. I'm visiting my friends there, Barcelona and Madrid. It would be fun to meet you if you're in town.

The smart locks are the way to go! That is what my mates did on their property. I never thought about the video doorbell. I think you have to put some warning on Airbnb listings so that might make people not want to book but probably small price to pay to make sure people won't have parties or steal stuff.

@Johnny what brand door lock do you use if I can ask? Did you buy it In Argentina or bring it down with you from the States? Wow if they have 3 offices around BA it must be a huge financial operation. I have to send some money into BA once in a while to my girlfriend's mother. I may reach out.



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.

The smart locks are iHub and they are great! They have a lot of different models but the latest ones are amazing. I changed out all my apartments even in Mexico with this system. iHub can be controlled with fingerprint, code, key fob and you can create up to 99 users. Maids can all have their own. We don't give ANYONE the key. they work great and work well with the TT Smart lock app. @James Bond ping me via DM and I'll tell you the model I get. They are great! G&D Developers actually included it with each new pozo apartment. They don't sell them in the USA.

In fact, I bought them in Argentina to bring to my Mexico properties as I like it better than the Nest Yale lock that I was using. iHub is such more powerful. I paid about $300 USD for it in Buenos Aires from the distributor and brought it to Mexico to install.

James, feel free to DM me and I'm happy to help you with money transfer. We can also deliver the funds anywhere in CABA for 1% more. All insured so no worries until it hits the destination.

@James Bond, didn't know you were in Malaga. I thought Madrid. Let me know if you and @Jenn want to meet up and lunch/dinner is on me. I'll be in Malaga a few days visiting friends.

 

[VINO]

Got your DM and responded. Sure, I sent you the details. The rate fluctuates based on supply and demand locally. But the rate is typically around 2.5% or so. I don't like dealing with amounts less than $5,000. But I can help any forum members in good standing. My company has a very long track record in Argentina so it should be the safest method available for any expat wanting to send cash into Buenos Aires. As mentioned, there are 3 bank offices to choose from to pick up your funds. Downtown in the financial district, La Lucila in a very secured building and Tigre. All have armed guards in the facilities and completely safe. Your funds are guaranteed until you pick it up. Safest method in all of Argentina to get cash.


Sure @Jenn have her sign up for an account at ExpatsBA and tell her to DM me and give details of your friend and I'll hook her up. My rates at my bank are similar to what she was paying. I can also handle USDT and BTC as well.

Awesome you are in Malaga! I knew you were in Spain but didn't know you were in Malaga! I have a LOT of friends there. I'm going there in a few week. DM me if you'd like to meet up or need anything from the USA. I'm visiting my friends there, Barcelona and Madrid. It would be fun to meet you if you're in town.


The smart locks are iHub and they are great! They have a lot of different models but the latest ones are amazing. I changed out all my apartments even in Mexico with this system. iHub can be controlled with fingerprint, code, key fob and you can create up to 99 users. Maids can all have their own. We don't give ANYONE the key. they work great and work well with the TT Smart lock app. @James Bond ping me via DM and I'll tell you the model I get. They are great! G&D Developers actually included it with each new pozo apartment. They don't sell them in the USA.

In fact, I bought them in Argentina to bring to my Mexico properties as I like it better than the Nest Yale lock that I was using. iHub is such more powerful. I paid about $300 USD for it in Buenos Aires from the distributor and brought it to Mexico to install.

James, feel free to DM me and I'm happy to help you with money transfer. We can also deliver the funds anywhere in CABA for 1% more. All insured so no worries until it hits the destination.

@James Bond, didn't know you were in Malaga. I thought Madrid. Let me know if you and @Jenn want to meet up and lunch/dinner is on me. I'll be in Malaga a few days visiting friends.

I need one of those smart locks. @earlyretirement can you post where you bought them? Can I DM you for your contact?

I also wire in funds once in a while. Not $5k at a time but could you help me with a smaller wire?

 

[ElQueso]

Avoid avoid avoid wiring to a local USD bank here. I did that and my cash disappeared for 2 months! Was a nightmare and the banks here were not helpful. My bank bank home was ultimately helpful in finally getting it back. Argentine banks were NO help.

Just use cuevas. Just use @BuySellBA if they are guaranteeing the money. Safest bet. I'm going to do that my next wire.

@ben you need your head examined to pay all of that cash in taxes to both governments. See a new accountant buddy.

 

[Jenn]

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.

That would be fun! I met a lot of Argentines in Malaga! Is your girlfriend still there? If so, bring her. If not, I'm still down to meet up!

@James Bond, didn't know you were in Malaga. I thought Madrid. Let me know if you and @Jenn want to meet up and lunch/dinner is on me. I'll be in Malaga a few days visiting friends.

I would love to meet both of you or if anyone else is in Malaga. I will DM you. What dates will you be here? I may go to Paris for a few days but I can wait and see when you will be here. Sounds like fun. Are you traveling with your family @earlyretirement? If so, would love to meet them too. If no, I will still meet you!

 

[earlyretirement]

That would be fun! I met a lot of Argentines in Malaga! Is your girlfriend still there? If so, bring her. If not, I'm still down to meet up!

I would love to meet both of you or if anyone else is in Malaga. I will DM you. What dates will you be here? I may go to Paris for a few days but I can wait and see when you will be here. Sounds like fun. Are you traveling with your family @earlyretirement? If so, would love to meet them too. If no, I will still meet you!

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!

 

[ben]

Thanks to everyone. I contacted @BuySellBA and will use their money transfer service. It seems too good to be true and I feel comfortable. I wired them this morning and the funds were confirmed within 3 hours. They said I can come to their bank and pick it up tomorrow. Wow!

I know I maybe considered a square to declare all my income. But I am a full time resident of Argentina now. I know 99.99% of expats will cheat and lie on their taxes. Maybe I am a fool to pay full taxes in Argentina and also the USA. I don't want to be scared. I can still live a comfortable life paying my full taxes. I love Argentina and feel like I owe it at least that. Now if they are fairly spending my money is another matter but I feel more comfortable with Milei vs. prior Presidents.

I will post an update tomorrow after I pick up my money. I sent in $10k.

 

[Finance Prof]

Avoid avoid avoid wiring to a local USD bank here. I did that and my cash disappeared for 2 months! Was a nightmare and the banks here were not helpful. My bank bank home was ultimately helpful in finally getting it back. Argentine banks were NO help.

Just use cuevas. Just use @BuySellBA if they are guaranteeing the money. Safest bet. I'm going to do that my next wire.

@ben you need your head examined to pay all of that cash in taxes to both governments. See a new accountant buddy.

My thoughts exactly. Talk about loving to throw money away!

Thanks to everyone. I contacted @BuySellBA and will use their money transfer service. It seems too good to be true and I feel comfortable. I wired them this morning and the funds were confirmed within 3 hours. They said I can come to their bank and pick it up tomorrow. Wow!

I know I maybe considered a square to declare all my income. But I am a full time resident of Argentina now. I know 99.99% of expats will cheat and lie on their taxes. Maybe I am a fool to pay full taxes in Argentina and also the USA. I don't want to be scared. I can still live a comfortable life paying my full taxes. I love Argentina and feel like I owe it at least that. Now if they are fairly spending my money is another matter but I feel more comfortable with Milei vs. prior Presidents.

I will post an update tomorrow after I pick up my money. I sent in $10k.

Ben you sound like you don't understand Argentina too well. All that cash you are paying is going to support some politicians personal life. Do you know how much money is wasted in Argentina. That is money you do NOT need to report. I get the USA but why Argentina? The worst thing is once you start paying that much Argentina is going to get dependent on you so once you stop paying that, they will think you are cheating them even when you aren't. Whatever accountant you have should have gotten fired. Any good accountant in Argentina would have told you NEVER to have declared this hear. Sorry but you are flushing your money down the proverbial toilet.

 

[ben]

My thoughts exactly. Talk about loving to throw money away!


Ben you sound like you don't understand Argentina too well. All that cash you are paying is going to support some politicians personal life. Do you know how much money is wasted in Argentina. That is money you do NOT need to report. I get the USA but why Argentina? The worst thing is once you start paying that much Argentina is going to get dependent on you so once you stop paying that, they will think you are cheating them even when you aren't. Whatever accountant you have should have gotten fired. Any good accountant in Argentina would have told you NEVER to have declared this hear. Sorry but you are flushing your money down the proverbial toilet.

I want to sleep at night. For whatever reason in the USA I got audited already 2 times. I have a business in the USA that generates alot of cash. I own a few carwashes and have much of my income from cash. Going through those audits was a nightmare. I made the mistake of writing off all my meals and travel expenses. Maybe more than I should have and it taught me a lesson during the audit that I want to be able to sleep at night.

I will take everyone's advice not to wire to my dollar account here and now I have a full proof way to get cash here cheap. Before I was worried about sending international wires but today my wire was to a USA bank and it got credited literally within 3 hours. I am going to pick it up tomorrow and will report back on that process but I am impressed. All confirmed with Whatapp all within hours. I wish my bankers in the USA was this easy.

The only thing I had to send was my wire confirmation from Bank of America and they needed my account # and address listed with the bank. That's it and it credited very quickly. I am going downtown location to pick it up. They just said to bring a photo ID. I sent them my DNI.

 

[Aussieland]

I want to sleep at night. For whatever reason in the USA I got audited already 2 times. I have a business in the USA that generates alot of cash. I own a few carwashes and have much of my income from cash. Going through those audits was a nightmare. I made the mistake of writing off all my meals and travel expenses. Maybe more than I should have and it taught me a lesson during the audit that I want to be able to sleep at night.

I will take everyone's advice not to wire to my dollar account here and now I have a full proof way to get cash here cheap. Before I was worried about sending international wires but today my wire was to a USA bank and it got credited literally within 3 hours. I am going to pick it up tomorrow and will report back on that process but I am impressed. All confirmed with Whatapp all within hours. I wish my bankers in the USA was this easy.

The only thing I had to send was my wire confirmation from Bank of America and they needed my account # and address listed with the bank. That's it and it credited very quickly. I am going downtown location to pick it up. They just said to bring a photo ID. I sent them my DNI.

But you sound like you aren't sleeping well at night if you can't even figure out how to wire money here to pay your taxes! 🤣 Imagine how ridiculous that sounds. You are paying too much taxes to two countries neither of which probably deserve it. I understand American taxes. I heard you can go to jail there if you don't pay but agree with the others about Argentina.

One lesson I learned is NEVER enter the ARCA hell if you don't have to. I have my DNI but I pay cash for almost everything or use my Aussie credit card. I don't understand American taxes. If you are self employed I would think you could offset some taxes but maybe not if Argentina doesn't have tax treating with the USA. Seems strange that you would willingly pay taxes to both countries. Almost makes you come across as stupid. Sorry no offense!

I don't' understand the foreign income tax exclusion. How does that work? Can you give me an example?

 

[ben]

But you sound like you aren't sleeping well at night if you can't even figure out how to wire money here to pay your taxes! 🤣 Imagine how ridiculous that sounds. You are paying too much taxes to two countries neither of which probably deserve it. I understand American taxes. I heard you can go to jail there if you don't pay but agree with the others about Argentina.

One lesson I learned is NEVER enter the ARCA hell if you don't have to. I have my DNI but I pay cash for almost everything or use my Aussie credit card. I don't understand American taxes. If you are self employed I would think you could offset some taxes but maybe not if Argentina doesn't have tax treating with the USA. Seems strange that you would willingly pay taxes to both countries. Almost makes you come across as stupid. Sorry no offense!

I don't' understand the foreign income tax exclusion. How does that work? Can you give me an example?

Well under the foreign earned income exclusion I get up to $126,500 USD in earned income excluded from paying taxes.
There is a massive 15.3% Self employment tax that isn't exempt and I have to pay. So if I made $125,000 that is all excluded but I still have to pay $19,125 USD in taxes for self employment income. That is a benefit to me as it's for social security and medicare taxes so it's not for nothing.

My income tax rate in Argentina is 30%. So combined with the two I pay over 40% which is brutal! Honestly, I am not sure of my decision making this kind of money to live here. Self employed income is high if you declare it. Maybe I am a bonehead after all! Now you all are making me feel stupid.

Thanks all for making me feel like an idiot!

 

[Uncle Wong]

Well under the foreign earned income exclusion I get up to $126,500 USD in earned income excluded from paying taxes.
There is a massive 15.3% Self employment tax that isn't exempt and I have to pay. So if I made $125,000 that is all excluded but I still have to pay $19,125 USD in taxes for self employment income. That is a benefit to me as it's for social security and medicare taxes so it's not for nothing.

My income tax rate in Argentina is 30%. So combined with the two I pay over 40% which is brutal! Honestly, I am not sure of my decision making this kind of money to live here. Self employed income is high if you declare it. Maybe I am a bonehead after all! Now you all are making me feel stupid.

Thanks all for making me feel like an idiot!

Seriously not to make you feel worse but that seems like a TERRIBLE idea to declare all that income in Argentina. You are your own worst enemy.

 

[enbits]

I work for a US company and they are wiring the money directly to my account without issues since the cepo was removed. A colleague has been doing the same for 3 years without any issues at all. Of course I create an invoice in ARCA for every incoming transaction. But I don't see how a swift transfer can get 'missed', it's a standard protocol.

 

[Uncle Wong]

I work for a US company and they are wiring the money directly to my account without issues since the cepo was removed. A colleague has been doing the same for 3 years without any issues at all. Of course I create an invoice in ARCA for every incoming transaction. But I don't see how a swift transfer can get 'missed', it's a standard protocol.

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.

 

[Darksider415]

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!

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

 

[Uncle Wong]

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

I feel lucky to have got to spend a few meetings with Mike. We had dinner and lunch with Johnny and they showed me their property at Meet Palermo. It was great. They said they just met you @Darksider415 but Johnny said you were in a rush to leave. They were very very busy running from one meeting to another. In fact, when we leave another meeting came up to our table. Both times I saw them, they had a meeting right before an a meeting right after. Crazy the schedule he keeps.

 

[Darksider415]

I feel lucky to have got to spend a few meetings with Mike. We had dinner and lunch with Johnny and they showed me their property at Meet Palermo. It was great. They said they just met you @Darksider415 but Johnny said you were in a rush to leave. They were very very busy running from one meeting to another. In fact, when we leave another meeting came up to our table. Both times I saw them, they had a meeting right before an a meeting right after. Crazy the schedule he keeps.

It was one of those times when I was short on time and the car was double-parked. 😂 Otherwise, I'd have tried to get a few more minutes in chatting before heading out.

 

[earlyretirement]

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

Thanks! Unfortunately most times I'm in BA I'm turning down about 30 requests per day to meet up. It's almost impossible as someone is getting turned down. I mostly only have time for paid clients and investors clients of mine these days. I'm sorry.

It was one of those times when I was short on time and the car was double-parked. 😂 Otherwise, I'd have tried to get a few more minutes in chatting before heading out.

Yes it's not fun being double parked in Recoleta. Especially near La Biela where there are a lot of police. It was a crazy day and I was meeting another investor right after you so it would have only been a few minutes anyway. Much of my day consists of going from one investor/client meeting to another one. From about 8 AM to about 2 AM. Makes for LONG days. But I'm glad I got a chance to meet you face to face after renting my place for a year.

 

[Uncle Wong]

Thanks! Unfortunately most times I'm in BA I'm turning down about 30 requests per day to meet up. It's almost impossible as someone is getting turned down. I mostly only have time for paid clients and investors clients of mine these days. I'm sorry.


Yes it's not fun being double parked in Recoleta. Especially near La Biela where there are a lot of police. It was a crazy day and I was meeting another investor right after you so it would have only been a few minutes anyway. Much of my day consists of going from one investor/client meeting to another one. From about 8 AM to about 2 AM. Makes for LONG days. But I'm glad I got a chance to meet you face to face after renting my place for a year.

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.

 

[Blockchain]

My bank is fussy about international wires too. I'm not sure why. It's OUR money. I was told by another expat friend living in Colombia it's better before you leave the USA to set up a bunch of American bank accounts in case one gets fussy. He set up with Charles Schwab which is his go to card. But he also has Bank of America, Chase, and Wells Fargo. He just had to keep small $2,000 balances in each not to have a monthly service charge. Probably will do that. He had a credit union but it was worthless for international wires.

I like the idea of the USA to USA wire. That shouldn't trigger anything. I sent you a DM earlyretirement.

 

[ben]

I work for a US company and they are wiring the money directly to my account without issues since the cepo was removed. A colleague has been doing the same for 3 years without any issues at all. Of course I create an invoice in ARCA for every incoming transaction. But I don't see how a swift transfer can get 'missed', it's a standard protocol.

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 will post an update tomorrow after I pick up my money. I sent in $10k.

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.