I noticed the same thing. My girlfriend sent money to her mother on Monday and I noticed the same thing. $15.99 to send $200. Horrible. I was going to use a cueva but it takes time to receive it and she needed it ASAP on Monday to pay an overdue bill. I guess this may be the new normal.
8% to send funds is crazy in this day and age. Wire fees have been really high lately. Cuevas were charging as high as 5.5% a few weeks ago and since come down to about 3.75%. USDT seems to be really popular in Argentina. I get updates on Telegram from Reby although I have never used them. They post rates daily.
@James Bond i would recommend you use Moneygram instead of WU. You should be able to send to your mother in law a payment for free for the first payment. If you sign up you can send in as much as you want I believe. Just transfer to her Argentine account or if she has Mercado Pago account that should work. I just send into my normal bank account. Rate is always better than WU and fees are free for first one. It comes through quickly so might want to try that instead of WU. I also noticed they keep increasing their fees. I don't understand their business model as maybe it is just tourists. Most locals don't like using them now because of high fees. Tourists are stuck using them. Works well but fees are high.
Thank you @Larry ! I have never used Money Gram. I will check it out. Good to know. Does it ask for any tax info?
I have also used MG to send to my local bank. I had a zero fee offer on my first transfer. I wasn't sure how much you can send but I sent $1k worth. I never like sending too much at once. I have to enter my CUIT and details of my local account. I would assume Mercado Pago works as it works like a bank. The transfer usually shows up in my account within 2 hours.
