Should you complete a currency transfer to Argentina?
People who want to send money to Argentina are sometimes unsure of which method they should use. Traditionally, money transfers between foreign banks and banks in Argentina would take around five working days. Many people find that this is too long to wait for their money. Thankfully completing a money transfer to Argentina takes a few minutes and recipients can have their funds almost instantly. So should you complete a currency transfer to Argentina?
Avoid costly credit card charges by transferring currency
When you transfer money to a recipient in Argentina they will avoid credit card charges. As a result of a poor economy and inflation there can be up to 20% charge to use a credit card. So if you would like your recipient to get more currency do not be tempted to let them use your credit card. Instead complete a simple currency transfer and provide them with the money that they need.
Don’t get ripped off by street vendors offering to exchange money
In Argentina there are street vendors who offer to exchange foreign currency for the Argentinean peso. Whilst these rates seem attractive the actual currency that these vendors offer will tend to be forgeries, which is how they make their money. If you are concerned about this you should make sure that you transfer money to Argentina recipients using a method that does not require exchanging foreign currency. That way you can avoid any trouble arising from using street vendors to exchange foreign currency to pesos.
Be aware of bank opening times
The bank opening times in Argentina can be quite restrictive, which comes as a surprise to many people. Banks usually open between the hours of 10 AM and 3 PM Monday to Friday. Banks tend to follow the currency rate Argentina offers more closely than hotels and some money exchanges. Banks do not open on Saturdays or Sundays in Argentina so it is much easier to send your recipient the correct currency.
