Exchanging Currency

[Daddy Rulz]

It sounds like I've been extremely lucky regarding fake bills. I've never checked a single bill and I've changed many thousands of dollars over the last 5 years, and I've never had a fake one.

Or maybe I _have_ been slipped some fakes and I've unknowingly passed them on without even realizing it!

I got a fake 100 peso bill from an ATM at Banco Frances at Cabildo why LaCroze once. I took it inside and the tool of a manager just kept saying it was impossible. This was way back before there was much of a gap between official and blue rates.

[DavieW]

It sounds like I've been extremely lucky regarding fake bills. I've never checked a single bill and I've changed many thousands of dollars over the last 5 years, and I've never had a fake one.

Or maybe I _have_ been slipped some fakes and I've unknowingly passed them on without even realizing it!

[TheRaven]

The first time I went to the Western Union place on Florida I checked every bill and they were all real. The second time I got lazy and just counted them. I ended up with 4 fake 100 peso bills. Fakes are really easy to spot. The silver dashed lines across the bill are not reflective and there is no watermark (the face in the white part). I would take a picture of a fake next to a real one but a pick pocket stole all my fake money. Which brings me to my second point. Wear jeans on Florida. If you wear pants or shorts with a vertical pocket they will just shove their hand in there, grab your money and run while a second guy distracts you. I've already figured out how to line my pocket with razor blades for my next trip.

I think dealing with the cambio's on Florida for your money exchange is pretty safe. They might try and slip you a few fake bills if you are touristy but they won't do very many. If they ripped you off for all your bills they know you would go to the police. It's not like they can pick up and run, they are in an office. Even the guys saying cambio on the street are only taking you to the office with the money guy. You're not exchanging your money right there on the street. If you just take 1 minute to check your bills before you leave it will be obvious if they are fake. When confronted what will they do? Probably give you a fake apology and pretend they thought those bills were real. These cambios are run like a business even if they are "black market". I used a street cambio guy and he lead me into a mall. Your not in some dark back alleyway.

[Member #3320]

Their was a nice report we had made about one of the cuevas at Calle Cervino.

I can't see the reports. I think the moderator has removed it.

It is one of the best places to go and change money. No swindling.

I got a rate of 6. 20 about a week ago for 1000 us$

[Daddy Rulz]

Re arbolitos in Florida, I've always wandered if the pesos you get are fake. Any experiences? Personally I wouldn't trust the guys offering 'cambio' further than I can throw them!

I know one guy that got a few fake hundreds mixed in. He didn't know how to check them and so they (cambio) saw an opportunity. I make a big show of checking every bill at every place I go to so I think that cuts down on the swindling. Check your bills right there where they make change. I also do this at hooks, or I used to when I was still goin there.

[DavieW]

Re arbolitos in Florida, I've always wandered if the pesos you get are fake. Any experiences? Personally I wouldn't trust the guys offering 'cambio' further than I can throw them!

Never had any problems myself. Used a few random ones at first, then the cueva referred to as 'Western Union' regularly for a year until my current, more discreet 'supplier. '

Don't know if it helps to be a fairly good Spanish speaker. Probably does.

[Amantelondres]

I'm not convinced it's a 'real' Western Union. It just has a Western Union sign outside it!

And there are more cuevas / arbolitos at Florida and Lavalle than you can wave a stick at.

Re arbolitos in Florida, I've always wandered if the pesos you get are fake. Any experiences? Personally I wouldn't trust the guys offering 'cambio' further than I can throw them!

[DavieW]

I've google mapped Western Union near Calle Florida. There is none listed at Florida / Lavalle. Is there a Western Union or other cueva / arbolito at Florida and Lavalle?

Thanks.

Bf

I'm not convinced it's a 'real' Western Union. It just has a Western Union sign outside it!

And there are more cuevas / arbolitos at Florida and Lavalle than you can wave a stick at.

[BlueFalcon]

I've google mapped Western Union near Calle Florida. There is none listed at Florida / Lavalle. Is there a Western Union or other cueva / arbolito at Florida and Lavalle?

Thanks.

Bf

[BlueFalcon]

Chicago Guy:

Should be no problem on Calle Florida, just don't advertise you are carrying $.

As for QE3, take a look at a 5yr chart of ARS / USD. Since late 2008, no amount of FED debasement has affected the ARS' desire to weaken against the USD. It seems that a dysfunctional Argentina trumps a dysfunctional FED.

BF.

In the 'cuevas' on Calle Florida, do you get a better exchange rate for large amounts?

Also, how safe is the area around Calle Florida? Would it be advisable to exchange max 1000 USD per visit?

And finally: Do you think QE3 will have any negative impact on the strength of the USD in Argentina?

[Chicago Guy]

In the 'cuevas' on Calle Florida, do you get a better exchange rate for large amounts?

Also, how safe is the area around Calle Florida? Would it be advisable to exchange max 1000 USD per visit?

And finally: Do you think QE3 will have any negative impact on the strength of the USD in Argentina?

[Mpexy]

Just helpful update for whomever may end up using Xoom.

1. Standard limit is $2999 within 30 day window, but can upgrade yourself with more verification docs to $6000 per 30 day window (turns out there's actually another third tier level that with more docs gets you to something like $20k / mo and $90k I think over 6 months. There may even be another custom level but this third tier hits after you've been approved for tier2 6k and when you get close to it the website points out with a helpful link tip how to get approved for tier3.

2. For whatever tier you are on, turns out the per 30 day window is a rolling period, not a blanket reset. So if you sent your first transaction on Aug 1, your entire 'limit balance' does not reset to 0 on Aug 31.

-it just removes whatever transactions are older than 30 days from the limit balance you are able to send.

-so if you sent $1 on Aug 1, then $2998 on Aug 30, and are on the tier1 (max $2999 plan). You will only have $1 of your limit reset on Aug 31. You'd have to in fact wait close to another month on Sep 29 to be able to have the Aug 30 txn wiped clean.

3. In short. If you plan to use Xoom consistently, it's best to send at even intervals, say once a week on the dot so you always have a txn from your limit balance being reset every week. Or upgrade to tier2 or 3, but even then the principle is the same.

[Daddy Rulz]

Walking down Lavalle today at 4:44 I see all the Arbolitas, but nobody is saying a word. At 4:45 on the dot it was like the director yelled action and they all started saying,"cambio, cambio, cambio, dolleras, reales, cambio, cambio, cambio." kind of creepy.

[Mpexy]

If you see a decent rate, or don't care that much, either way I've found there actually is a max cap to the fee they charge for single transfer.

Up to $1000, the xfer fee scales up. Example for bank source xfers, $6.75 for $200 converted to pesos cash pickup, $15.75 for $500, and max capped at $30 for $1000.

Thought it just kept scaling, but after $1000, it just stays flat at $30. Just did a $1500 xfer and paid the same $30 fee. So basically, it added 0.06 to my exchange rate, e.g. offered rate 6.05, but effective rate with fee if I had done $1000 would have been 5.87 to 1. With $1500 it effectively made it 5.93 to 1.

Not as good as a cueva with cash but so far I've found the delta small enough I've been mostly using Xoom while only going couple times to do USD cash exchanges at cueva on Scalabrini Ortiz.

[Daddy Rulz]

I have heard of fakes from cambios too, but usually they have a shoddy watermark, and the silver strip is pretty good.

These that I saw had none. The paper felt normal but when held up to the light there was none.