Bypassing ATM fees

  • Just found a way how to bypass the ATM fee taking cash with foreign card.

    With the foreign debit and credit card you can pay wherever you want, but extraction cash cost you a heavy fee, nearly 400 pesos and Max is 4000 peso, so thats 10%.


    What I did was: register by todo pago and mercado libre, and download apps if you don't have them already.

    Then I registered and approved my prepaid payoneer card by todo pago......Next enter into mercadolibre and make a request for money. The card then get debited by todo pago, in my case I did it with 4000 peso, and get credited by mercadolibre.......from where you can extract money with mercadolibre debitcard or via cashier.


    Depending on how you have configured your incoming payments by mercadolibre, you can have it without any fees in 2 months, or for a few percent up till 6%, when u want it immediately........still better than 10% by atm......plus I think you can use bigger amounts......no idea what limit is, but for sure 10.000 I guess.

    The dollar/peso conversion is the same as if you would make a purchase in the supermarket with your card!!!!

  • Well, you could purchase something from yourself on MercadoLibre using your foreign card. I think the fee should be less if it is a payment for a mercadolibre transaction.


    The only drawback is that on ML now they track how much you sell per month and over a certain limit you need to submit monotributo proof.


    And since now ML is working with AFIP, it may not be the wisest move, as this fake sale could be construed as undeclared income.


    But I think that also the MP route can flag your foreign savings abroad. Remember that, besides having to declare any money you have abroad, since three weeks they have mandated to reimpatriate your foreign earning within 5 days, and they get converted to pesos. You can then convert them to USD in your Argentinian account.



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  • serafina .....

    Yep to much back n forward no good....

    I'm just using it for getting a little cash....beside that I pay all by card.

    I doubt that we, all of us expats are forced to enter any money we have abroad to the country and then convert!!! I know it's the case with earnings! I had my accountant go through all my papers and money stuff over the 10 years here.....she was very happy on my behalf....because not to much in the system, banking etc. Like splinter I'm monotributo.....

    Btw, to do it like it did, could just be a sale of something, not an income.

    As we having been living here long, I guessed we have all learned to try n stay of the radar.....I have never had any real money in bank here, never made any transfers from outside or to outside.

    The longer I stay here I regret not to have joined the corrupted.....much easier and with much more benefits :D....

  • imagine any of our friends seeing what we are chatting about here on the board......they would think we are all brain dead if they didn't know what is happening here.........


    "How I can take out money with my card?"

    "Where to buy cheese?"

    "Should a top criminal be banned from running for president?"

    "Running for red light ok or not?"


    Etc etc etc.....

    :facepalm::facepalm::facepalm::facepalm:

  • :301: That's us!!!! :th_giggle01:

  • just needed to pick up cash with a foreign card.......595 pesos to take 4000 by HSBC!!!!!

    I see where this road is leading......combined with the rise in blue rate.........I guess I'm in total 25-30% down!!!