Newcomer Where to ask "money access for retired moving to Argentina"

[csmba]

My mom will come to Argentina, she is 70+, was native and is a citizen but has not lived there for ~50 years!

Trying to help her figure out how to live there for 6 month at t time (who know, may become longer strech) finanically.

She has money in 1/ EU country (legit) 2/ cash 3/ me , her son as a source to send her money from the US

I bet there are writeups on this, can someone point me, or tell me where to ask?

Jey set of first order quesions I have:

1/ best way to access her "in the bank" money from Argentian, protected from local currency trouble/inflation?

2/ best way to access cash (besids "move it with you on the flight there)

3/ best way for me to send her money that is in my bank

I wonder about Wise , wester union , Paypal, Xoom...

 

[earlyretirement]

My mom will come to Argentina, she is 70+, was native and is a citizen but has not lived there for ~50 years!

Trying to help her figure out how to live there for 6 month at t time (who know, may become longer strech) finanically.

She has money in 1/ EU country (legit) 2/ cash 3/ me , her son as a source to send her money from the US

I bet there are writeups on this, can someone point me, or tell me where to ask?

Jey set of first order quesions I have:

1/ best way to access her "in the bank" money from Argentian, protected from local currency trouble/inflation?

2/ best way to access cash (besids "move it with you on the flight there)

3/ best way for me to send her money that is in my bank

I wonder about Wise , wester union , Paypal, Xoom...

If I understand your post correctly, your mom is originally from Argentina. Just out of curiosity, why is she moving back to Argentina? Is it for cost of living reasons? Or moving to be closer to relatives? Argentina is a great place for the elderly I have found. It's much better than other countries where turning 70 is a "death sentence" with no social activity.

One of the things that made me fall in love with this country is how the old still drink coffee at La Biela at 2 AM. Love it!

She can easily move back to Argentina.

1) She can get connected with a "cueva" or money exchange place where she will send her money to. She can do that with bank wire, or stablecoin if you have it there. She will wire in and they charge a commission % and they will give her the funds. usually it cost between 3.5% to 5% or so. It just depends on supply and demand.

2) She can legally bring up to $10,000 US without declaring it. But she can bring in as much as she wants as long as she declares it. I have brought in as much as $80,000 US without issues. I just declared it. However, keep in mind it's not the safest and you have to worry about customs pulling shenanigans, etc. But if she does, just have someone trustworthy to pick her up. Otherwise if she has less than $10,000 just have her carry it in a money belt.

3) She can also access "cash" just sending in cash to herself via Western Union. You can see the WU rate by going to their website

Geldtransfer ins Ausland | Western Union Deutschland

Senden Sie Geld aus Deutschland mit den internationalen Geldtransferservices von Western Union. Überprüfen Sie die Wechselkurse, senden Sie Geld ins Ausland und vieles mehr.

westernunion.com

Or download their App. You can also use Remitly to deposit directly to her Argentina account. If she has a DNI, she can easily open up a FREE bank account at Banco Galicia. I'd recommend them as you don't even have to go to a branch. It can all be done online. The customer service is very good!

https://www.galicia.ar/personas/cuenta-gratuita-universal

It only took me to sign up and then get my ATM debit card in the mail to my apartment. She can send money to herself via Western Union or Remitly. I assume she has a credit card or debit card from Europe? She can easily just use that too for expenses and there is a GREAT foreign exchange rate on foreign credit cards. You can see the rate here :

Dólar hoy, cotización del dólar, precio del dólar, dólar blue, precio histórico del dólar, valor del UVA | Dolarito.ar

Seguí la cotización del dólar minuto a minuto, compara cotizaciones, visualiza los valores históricos, conocé el precio del dólar, evolución del valor UVA

www.dolarito.ar

It is usually about 7% less than the MEP rate shown here. Make sure to use a credit card that doesn't charge foreign transaction fees.

Feel free to post any more questions.

 

[Bobbie Burgers]

If I understand your post correctly, your mom is originally from Argentina. Just out of curiosity, why is she moving back to Argentina? Is it for cost of living reasons? Or moving to be closer to relatives? Argentina is a great place for the elderly I have found. It's much better than other countries where turning 70 is a "death sentence" with no social activity.

One of the things that made me fall in love with this country is how the old still drink coffee at La Biela at 2 AM. Love it!

She can easily move back to Argentina.

1) She can get connected with a "cueva" or money exchange place where she will send her money to. She can do that with bank wire, or stablecoin if you have it there. She will wire in and they charge a commission % and they will give her the funds. usually it cost between 3.5% to 5% or so. It just depends on supply and demand.

2) She can legally bring up to $10,000 US without declaring it. But she can bring in as much as she wants as long as she declares it. I have brought in as much as $80,000 US without issues. I just declared it. However, keep in mind it's not the safest and you have to worry about customs pulling shenanigans, etc. But if she does, just have someone trustworthy to pick her up. Otherwise if she has less than $10,000 just have her carry it in a money belt.

3) She can also access "cash" just sending in cash to herself via Western Union. You can see the WU rate by going to their website

Geldtransfer ins Ausland | Western Union Deutschland

Senden Sie Geld aus Deutschland mit den internationalen Geldtransferservices von Western Union. Überprüfen Sie die Wechselkurse, senden Sie Geld ins Ausland und vieles mehr.

westernunion.com

Or download their App. You can also use Remitly to deposit directly to her Argentina account. If she has a DNI, she can easily open up a FREE bank account at Banco Galicia. I'd recommend them as you don't even have to go to a branch. It can all be done online. The customer service is very good!

https://www.galicia.ar/personas/cuenta-gratuita-universal

It only took me to sign up and then get my ATM debit card in the mail to my apartment. She can send money to herself via Western Union or Remitly. I assume she has a credit card or debit card from Europe? She can easily just use that too for expenses and there is a GREAT foreign exchange rate on foreign credit cards. You can see the rate here :

Dólar hoy, cotización del dólar, precio del dólar, dólar blue, precio histórico del dólar, valor del UVA | Dolarito.ar

Seguí la cotización del dólar minuto a minuto, compara cotizaciones, visualiza los valores históricos, conocé el precio del dólar, evolución del valor UVA

www.dolarito.ar

It is usually about 7% less than the MEP rate shown here. Make sure to use a credit card that doesn't charge foreign transaction fees.

Feel free to post any more questions.

Awesome and correct.

@csmba what a good son to help your mom!

 

[Che Vos]

If I understand your post correctly, your mom is originally from Argentina. Just out of curiosity, why is she moving back to Argentina? Is it for cost of living reasons? Or moving to be closer to relatives? Argentina is a great place for the elderly I have found. It's much better than other countries where turning 70 is a "death sentence" with no social activity.

One of the things that made me fall in love with this country is how the old still drink coffee at La Biela at 2 AM. Love it!

She can easily move back to Argentina.

1) She can get connected with a "cueva" or money exchange place where she will send her money to. She can do that with bank wire, or stablecoin if you have it there. She will wire in and they charge a commission % and they will give her the funds. usually it cost between 3.5% to 5% or so. It just depends on supply and demand.

2) She can legally bring up to $10,000 US without declaring it. But she can bring in as much as she wants as long as she declares it. I have brought in as much as $80,000 US without issues. I just declared it. However, keep in mind it's not the safest and you have to worry about customs pulling shenanigans, etc. But if she does, just have someone trustworthy to pick her up. Otherwise if she has less than $10,000 just have her carry it in a money belt.

3) She can also access "cash" just sending in cash to herself via Western Union. You can see the WU rate by going to their website

Geldtransfer ins Ausland | Western Union Deutschland

Senden Sie Geld aus Deutschland mit den internationalen Geldtransferservices von Western Union. Überprüfen Sie die Wechselkurse, senden Sie Geld ins Ausland und vieles mehr.

westernunion.com

Or download their App. You can also use Remitly to deposit directly to her Argentina account. If she has a DNI, she can easily open up a FREE bank account at Banco Galicia. I'd recommend them as you don't even have to go to a branch. It can all be done online. The customer service is very good!

https://www.galicia.ar/personas/cuenta-gratuita-universal

It only took me to sign up and then get my ATM debit card in the mail to my apartment. She can send money to herself via Western Union or Remitly. I assume she has a credit card or debit card from Europe? She can easily just use that too for expenses and there is a GREAT foreign exchange rate on foreign credit cards. You can see the rate here :

Dólar hoy, cotización del dólar, precio del dólar, dólar blue, precio histórico del dólar, valor del UVA | Dolarito.ar

Seguí la cotización del dólar minuto a minuto, compara cotizaciones, visualiza los valores históricos, conocé el precio del dólar, evolución del valor UVA

www.dolarito.ar

It is usually about 7% less than the MEP rate shown here. Make sure to use a credit card that doesn't charge foreign transaction fees.

Feel free to post any more questions.

All info is very good from @earlyretirement . My aunts live in Spain and Buenos Aires. One moved back last year to be close to my aunt who is sick. She said it's very easy. All locals have contact to banker/cueva that you can send money to yourself and they will give you money here. Ask your family here if you have it. It's very easy to find a person.

Banco Galicia is very easy and most of my family has accounts with them. As earlyretirement mentioned there is no cost at all to have account here. You need DNI. My aunt uses her credit card from Spain and also she sends Western Union sometimes and it works no problems except she said she have issues with Western Union sending money to her local bank account.

 

[Spend Thrift]

If I understand your post correctly, your mom is originally from Argentina. Just out of curiosity, why is she moving back to Argentina? Is it for cost of living reasons? Or moving to be closer to relatives? Argentina is a great place for the elderly I have found. It's much better than other countries where turning 70 is a "death sentence" with no social activity.

One of the things that made me fall in love with this country is how the old still drink coffee at La Biela at 2 AM. Love it!

She can easily move back to Argentina.

1) She can get connected with a "cueva" or money exchange place where she will send her money to. She can do that with bank wire, or stablecoin if you have it there. She will wire in and they charge a commission % and they will give her the funds. usually it cost between 3.5% to 5% or so. It just depends on supply and demand.

2) She can legally bring up to $10,000 US without declaring it. But she can bring in as much as she wants as long as she declares it. I have brought in as much as $80,000 US without issues. I just declared it. However, keep in mind it's not the safest and you have to worry about customs pulling shenanigans, etc. But if she does, just have someone trustworthy to pick her up. Otherwise if she has less than $10,000 just have her carry it in a money belt.

3) She can also access "cash" just sending in cash to herself via Western Union. You can see the WU rate by going to their website

Geldtransfer ins Ausland | Western Union Deutschland

Senden Sie Geld aus Deutschland mit den internationalen Geldtransferservices von Western Union. Überprüfen Sie die Wechselkurse, senden Sie Geld ins Ausland und vieles mehr.

westernunion.com

Or download their App. You can also use Remitly to deposit directly to her Argentina account. If she has a DNI, she can easily open up a FREE bank account at Banco Galicia. I'd recommend them as you don't even have to go to a branch. It can all be done online. The customer service is very good!

https://www.galicia.ar/personas/cuenta-gratuita-universal

It only took me to sign up and then get my ATM debit card in the mail to my apartment. She can send money to herself via Western Union or Remitly. I assume she has a credit card or debit card from Europe? She can easily just use that too for expenses and there is a GREAT foreign exchange rate on foreign credit cards. You can see the rate here :

Dólar hoy, cotización del dólar, precio del dólar, dólar blue, precio histórico del dólar, valor del UVA | Dolarito.ar

Seguí la cotización del dólar minuto a minuto, compara cotizaciones, visualiza los valores históricos, conocé el precio del dólar, evolución del valor UVA

www.dolarito.ar

It is usually about 7% less than the MEP rate shown here. Make sure to use a credit card that doesn't charge foreign transaction fees.

Feel free to post any more questions.

Great advice! This matches my experience so far as well although I do NOT have a DNI. I am using Western Union and a cueva that my assistant found for me.

 

[csmba]

Gracias all! very helpful. Yes I belive she will get an DNI as she is a citizen. She has freinds in Buenos aires, and wants to come to have some more quite time vs the busy city she lives in now (so cost of living + spending time in a more remote area like northern Patagonia.

Are the WU transfers accepting cash on the incoming side? how does the the rate you get on the Argentican side compare when doing WU vs a cueva?

Any problem with the "declaring" part when entering with cash on body?

 

[GlasgowJohn]

Western Union works well. I occasionally transfer money for cash pick-up - no problems whatsoever. And also to Mrs. GlasgowJohn's bank account- again no problems but if I transfer to the bank account before 07.30 AM I get same-day delivery.

Transfers for cash pick up are more or less immediate.

A Spanish friend mentioned to me there was a limit ( 1,000 EUROS PER DAY?) ex Spain to Argentina. But I have not been able to ascertain if this was true or not. Or whether he was doing a lot of WU transfers and trying to beat the system.

 

[Top Chef Fan]

Gracias all! very helpful. Yes I belive she will get an DNI as she is a citizen. She has freinds in Buenos aires, and wants to come to have some more quite time vs the busy city she lives in now (so cost of living + spending time in a more remote area like northern Patagonia.

Are the WU transfers accepting cash on the incoming side? how does the the rate you get on the Argentican side compare when doing WU vs a cueva?

Any problem with the "declaring" part when entering with cash on body?

She should have a DNI if she is a citizen. If she no longer has it she can go to Migraciones and get a new one. I assume she has some paperwork and they can easily look her up. The process is much more streamlined now vs. many years ago. It's fairly quick to get a DNI now. Great progress over the past decade.

Quality of life outside the big city is very serene and peaceful. Patagonia is beautiful and peaceful.

She will have no problem at all with WU transfers but keep in mind she will get pesos but you can see the rates at any time at their website:

Send and Track Money Online Now | Western Union

Send and track money from the United States with Western Union's international money transfer services.

www.westernunion.com

No problem at all declaring money on entering Argentina. I would have someone pick her up just in case if it's a big amount. But I have declared funds in excess of $10,000 without problems. I just put it in a money belt. But it's not needed to carry large amounts of money. She can get it in with a money transfer firm but I realize trust is tough when you don't know anyone so in that case she may want to bring in enough money to make her comfortable.

Western Union works well. I occasionally transfer money for cash pick-up - no problems whatsoever. And also to Mrs. GlasgowJohn's bank account- again no problems but if I transfer to the bank account before 07.30 AM I get same-day delivery.

Transfers for cash pick up are more or less immediate.

A Spanish friend mentioned to me there was a limit ( 1,000 EUROS PER DAY?) ex Spain to Argentina. But I have not been able to ascertain if this was true or not. Or whether he was doing a lot of WU transfers and trying to beat the system.

I also heard that Spain had some currency limits but I'm not sure. You can probably Google it but you're smart to get real life info as sometimes the information online is not accurate or things constantly change quickly in Argentina.

 

[David]

She will love it here. Buenos Aires is a wonderful city for senior citizens. Much more exciting than Spain!

 

[GlasgowJohn]

She will love it here. Buenos Aires is a wonderful city for senior citizens. Much more exciting than Spain!

Yes , but there is no decent jamon serrano....

 

[Betsy Ross]

Yes , but there is no decent jamon serrano....

That is very true. The food in Spain is incredible. Miss those tapas.

 

[GlasgowJohn]

That is very true. The food in Spain is incredible. Miss those tapas.

Have you tried Sagardi in San Telmo - the best tapas in town!

 

[earlyretirement]

Have you tried Sagardi in San Telmo - the best tapas in town!

I haven't but will now! Thanks @GlasgowJohn !