Cheapest Ways to Send Money to Argentina: Top Providers Compared for 2024

Money transfer operators are the easiest, fastest and usually cheapest way to send money to Argentina. The majority of all transactions from abroad are done via MTPs. Before you perform a transfer, here are all the available options:

Money Transfer Services

A money transfer provider is a service that allows sending funds to Argentina online. The process requires registering and verifying an account with the desired MTP.

Money transfer services offer multiple payment methods and these usually include credit and debit cards, bank transfers, etc. Some platforms even offer e-wallets, cash deposits, and other methods.

MTPs have affordable fees that vary based on the chosen method, payment sum, and other factors. The transfer speed also varies, but you can send money to Argentina in seconds. Most MTPs have responsive website designs or mobile apps to support sending funds on the go.

Wire Transfers

Wire transfers used to be the most popular option to send money internationally. But today, they are much more expensive and slower than money transfer operators.

MTPs are a faster option with minimum hassle since sending money to Argentina virtually takes a few clicks.

Bank Account Transfers

Banco de la Nacion Argentina (BNA), Banco Galicia, and HSBC Bank Argentina are among the biggest banks in the country. Interbank transfers are available from most countries, but they have downsides.

Sending money via banks often comes with a hefty fee and requires having a bank account with enough funds. Processing the transaction might take days. There’s no doubt money transfer services are a better option since they are a faster, easier, and more affordable way to send funds to Argentina.

Challenger Banks

Apart from major banks, there are also challenger institutions. They focus on specific services and offer an alternative to banking institutions. Brubank, Uala, and Iudu are examples of challenger banks in Argentina, but they are likely to be more expensive than using MTPs. Challenger banks have limited funding, so you risk a lot when doing large international transactions through them.

Mobile Apps and Payment Services

Apple Pay and Google Pay are both available in Argentina, however, these are better suited for domestic payments.

MTPs specialize in international transfers, and they have dedicated mobile apps to send money with smartphones and other portable devices. The transfer speed and cost, as well as ease of use, make it a better choice than mobile payment services.

PayPal

PayPal is a reputable e-wallet that’s been available for over 20 years. Despite fast transactions, it is notorious for its high fees that can go up to 5% and MTPs can be equally fast with lower fees.

Money Transfers to a Pickup Location

Some money transfer services offer cash payments where you need to go to pick-up location. That is slower than sending money online, and you could end up paying higher fees to the agent.

There is also the hassle of going to the payment branch and filling out the required forms to send money to Argentina, and it's more simple to use websites and apps.

International Money Orders

USPS is among the providers that allow sending international money orders to Argentina. They work with BBVA Banco Frances, and payments are available in over 200 locations in the country.

The maximum for international money orders is USD 700 per transaction. There’s also an issuing fee of USD 49.65, as well as the processing charge. It’s more affordable and faster to use money transfer services when sending funds to Argentina.

What Do You Need to Send Money to Argentina?

Your payment service reserves the right to ask for additional documents, but you usually need the following:

• Proving your identity. You do this by offering a valid ID with a picture. It needs to be issued by your local government.

• Recipient’s info. Most providers require their names and contact information.

• Delivery method. The sender picks how to deliver funds, so make sure to discuss this with the receiver.

• Bank or other relevant info. You need the account number, SWIFT, and other details for bank transfers. Other methods require different info – for example, you need the receiver's phone number for airtime top-up.

Money transfer operators support multiple options to receive money in Argentina, including cash collection, bank deposits, and mobile money. Here is more detailed info on each method:

Location Pick Up

The receiver needs to go to a collection point to pick the cash up. Platforms like Western Union and Wisehave many locations throughout Argentina, especially in big cities. However, it is not always safe to walk around with a lot of cash.

Direct Bank Deposits

It is estimated that only every second adult has a bank account in Argentina. Before using this method, confirm that the receiver has an account and agrees to receive money from the bank. From their perspective, they only need to wait for the funds to show up in the account.

Cash Delivery

Not many platforms offer the cash delivery option. It’s also necessary for the receiver to pay the agent’s fee to get the money to their desired address, but many platforms don’t serve remote areas in Argentina.

Mobile Money

Airtime top-up is possible if the receiver has a mobile number registered with the leading network providers in Argentina. This method is fast as the money is available in minutes, but the sending limits vary.

What Do You Need to Receive Money in Argentina?

The receiver should prepare the following documents:

• Identity proof. An official document with a picture is necessary. It needs to be issued by the local government.

• Sender or transaction info. The provider might require the receiver to confirm the transaction with the reference number provided by the sender (you) or provide the sender's name.

• Identify the transfer reason. It often happens for large transactions – the receiver needs to confirm why you are sending them money.

WorldRemitsupports sending money to Argentina from over 50 countries. They promise to complete 90% of all transfers on the same day, while airtime top-up often arrives in less than ten minutes. For first-time senders, the ID verification shouldn't take over four minutes. Customer support will contact you immediately if any additional documents are necessary.

Pros

• Favorable exchange rates

• Automatic calculation of fees and receiving amounts

• Dedicated mobile apps to send money from Android and iOS devices

Cons

• The receiving amount per transfer capped at ARS 675,000

• Credit card fees are high

3 Steps to Start Using the Provider

• Step 1: Visit WorldRemit and pick the sending and receiving currencies.

• Step 2: Choose the delivery method and check the fees.

• Step 3: Finalize the transfer.

Best Alternatives

• Western Union, Wise, Instarem

Ria Money Transfer is well-known for having top-level security measures. They acquired relevant licenses from financial authorities and an extended validation SSL certificate. The platform uses sophisticated modeling and a 24/7 security team to detect unusual behavior and suspicious transfers. Ria doesn't store your card info on its servers to minimize potential risks.

Pros

• Promo codes delivered via email and push notifications

• Card transfers usually take only minutes

• Fast and reliable Android and iOS apps

Cons

• Sending limits are restrictive in some locations

• Page loading times are slow on occasions

3 Steps to Start Using the Provider

• Step 1: Head to the Ria Money Transfer website.

• Step 2: Pick Argentina as the destination and enter other required parameters.

• Step 3: Register an account and complete the transaction.

Best Alternatives

• XE Money Transfer, PayPal, WIse

Remitly does a good job of tempting new users with a promotional exchange rate for the first transfer. The platform also has promotions that include code offers and refer a friend program. The initial member tier has a sending limitation of USD 2,999 per 24 hours. You can increase this to USD 10,000 if you go through the additional verification process.

Pros

• Available in 15+ languages

• Working with major Argentine banks

• Guaranteed delivery time, or you get a fee refund

Cons

• Fees vary on the amount sent in some countries

• Content in the help section could be better organized

3 Steps to Start Using the Provider

• Step 1: Check the promo rate for the first transfer to Argentina using Remitly.

• Step 2: Pick the preferred payment and delivery methods and register an account.

• Step 3: Finalize the transaction.

Best Alternatives

• Instarem, XE Money Transfer, Wise

The fastest money transfer operators will move your funds to Argentina in seconds. But please note you might need to use specific payment methods. Debit and credit card transactions are generally faster to process than bank transfers.

Transaction speed might determine the fees with some money transfer services. However, some MTPs offer discounts on first transfers, as well as favorable rates for large transactions. The fast platforms listed above usually offer instant money transfers, but they give 24 hours as the estimated delivery speed if any problems appear.

The time when international transactions cost a fortune is long behind us. Many money transfer operators ensure that senders’ fees are low or non-existent. At the same time, they do their best to process your transfer as fast as possible. Here are the best options to spend as little money as possible on fees when sending funds to Argentina.

It’s important to find the right balance between an affordable transaction fee and attractive exchange rates. Even if there isn’t a transfer fee, it could end up costing more if you choose a bad exchange rate. The platforms listed above offer the best balance between these two, making them a smart choice to send money to Argentina.

You don’t have to worry about the safety of any money transfer operators recommended on this page. However, some MTPs put in additional efforts to ensure their users feel secure on the site. Here is the list of providers that go the extra mile to ensure maximum safety.

Safeguarding funds is a common security feature that involves segregating user money from operating accounts intended to run the business. MTPs don't store card details on their servers, which eliminates the risk of potential breaches. Finally, security teams work on detecting fraud, and many platforms have a fraud hotline if a user notices anything out of the ordinary.

Apps used to send money are available on mobile phones, tablets, iPhones, iPads, and other portable devices. Their goal is to simplify sending money on the go and enable moving funds to Argentina from any location. Here are the best app choices available today.

The best apps to send money to Argentina have separate versions for Android and iOS. The software runs smoothly, and there are no bugs. This ensures you can transfer funds in a few clicks and by using any portable device, from smartphones to tablets.

The Financial Institution Law is how Argentina regulates the banking and financial industry. The Central Bank of Argentina (Banco Central de la Republica Argentina – BCRA) regulates and supervises payment processors. It means money transfer services need a BCRA license to do business in this country.

Other relevant authorities include the Comision Nacional de Valores, which regulates stock and other capital markets, and Seguros de la Nacion, which regulates the insurance market and companies.

Local authorities require declaring importing over USD 10,000 or an equivalent to Argentina, so large transactions might attract the attention of relevant financial bodies.

Another consideration includes the limits imposed by money transfer operators. The restrictions vary depending on the site, and there could be daily, monthly, and yearly limits. Some platforms allow sending more money to Argentina if you obtain a higher member status.

International money transfer operators have two ways of charging you when sending funds to Argentina:

• Transaction fees. The rules are different – some platforms give up on their fees for the first transfer, others are willing to lower charges for large transactions, etc.

• Exchange rates. The rates are always above the mid-market level, but they will vary depending on the operator.

Your reasons for sending money to Argentina could include family support, income repatriation, gifts, etc. Apart from the sum, payment type could affect the fee and the tax the receiver needs to pay.

Personal transactions aren’t the only payment type. You can do business money transfers to Argentina. It’s necessary to register a business account and comply with relevant regulations. The required documents are different when compared to personal transactions.

Regulatory licenses are the way to confirm the provider's legit and the operators on this page have a BCRA license but also certificates from FCA and other reputable financial authorities.

As for the security factor, MTPs have protection layers that prevent data breaches and keep websites safe. Encrypted transactions, systems to recognize fraud, and teams that monitor site activity are other measures that boost a platform's security.

As the sender, you don’t need to pay anything to the local authorities in Argentina. But the tax regulations for the receiver are complex. The tax on personal income is 5% to 35%, and it applies to worldwide income.

There are certain exemptions, and the federal government doesn’t charge a gift or inheritance tax. However, province authorities might have applicable taxes to this category. Finally, there is a 0.6% tax on credits and debits from bank accounts, so it’s best for the receiver to consult a local tax expert.