First of all, the rate has skyrocketed to 5.5357 dollars to 1 peso as of today. The official rate is at $4.469. This means that if you transfer the maximum amount of U$S 2,999 rather than withdraw from an ATM, you’ll be earning an extra $3032 pesos / U$S 692. That’s a 22% increase in your money!

My first transaction with Xoom was for only $25 and was completely painless. It took about 2 business days for the funds to appear in my Argentine bank account. I also received a $25 Amazon gift card for using a referral link (if you use this link, you’ll get a $25 gift card and so will I).

After that first transaction I decided to transfer the maximum amount – U$S 2999. That process was not as quick due to several verification steps. First I had to verify my identity with Xoom by sending them a photo ID. Next, I had to verify the echeck withdrawal amount from my US bank account. Then, More Money Argentina (Xoom’s transfer partner here) had to verify the source of the funds as well as DNI, CUIL/CUIT, address, etc. This process took just under two weeks. I have been told that the next transfers will go much quicker, but this is something to be aware of.

I transferred the money directly to my Argentine bank account, but I have had several friends go and pick up their money from More Money’s location at Libertad 1057. This seems to be the only valid location in Capital Federal even though the Xoom site lists other locations. All of my friend’s transactions were completed within two business days and all they had to do was show their passport when picking up the money. Some of them were asked for the source of the funds, but they simply said savings and all was good.

One friend was told that $10,000 pesos was the cut off point that triggered additional paperwork requirements. Another friend was told that Xoom transfers do not appear as cash advances if you use your credit card, though I would confirm this before transferring a large amount.

Have you tried it yet? As I mentioned above, we both get $25 if you use my referral link. You can also use the coupon code “cruz” at check out, they’ll waive the fees too which means even more money in your pocket.

BONUS TIP: Here’s an interesting idea that will work if you have a US bank account and an Argentine credit card. You can make 10% or more on your money and even rack up frequent flier miles if you have a card that earns miles.

Pay yourself or someone else in the US using PayPal and your Argentine credit card. You’ll be billed the official exchange rate for these transactions on your credit card plus the PayPal fees. Now, transfer pesos to yourself using Xoom and pay your credit card with that money. Due to the differences in the official vs. Xoom rates, you will end up making money on the deal. There is a U$S 6000/month limit from Xoom, but this is an interesting way to take advantage of this currency discrepancy and make money for doing virtually nothing.

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1. Send Money To Argentina And Get The Best Rate UPDATE: Xoom’s rates vary daily. This post was updated with...

For these occasions, you need a Virtual Private Network (VPN) to mask your location and make it seem like you’re coming from the US (or UK). Now, there are a lot of pay services out there that do this, but as I only need the service from time to time, I wanted something that would be easy and free to use. Luckily, I found a great solution – TunnelBear.

TunnelBear is an incredibly easy to use VPN solution for both the Mac and PC. Simply install it, log in, select the location (US or the UK) and turn it on. That’s it. You’ll now look like you’re coming from one of those locations. There is no need to make any complicated technical settings and you only have to run the program when you need it.

Little TunnelBear is their free version and gives you up to 500MB of data each month (you can get 1GB of data simply by tweeting every month and asking for more). This has always been more than enough for me, but they also offer Giant TunnelBear for $4.99/mo and Grizzly TunnelBear for $49.99/year if you need more data. The paid plans also give you access to their iPhone and iPad app so you can stream US-content like Pandora on your mobile devices as well.

It’s really a great free service and incredibly simple to use too. I’d recommend checking it out.

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Auberge du Vin is a luxury private residence and condominium-hotel development located in Valle du Uco, Mendoza, in the heart of Argentina’s wine country. This environmentally responsible property features 24-hour reception lobby, gift shop, restaurant and bar, wine cellar, business center, solarium, terrace with fire pits, indoor/outdoor pool, gardens, golf and polo club, laundry and more.

There are currently 8 units remaining in pre-sale out of the original 28. This is an excellent opportunity to invest in a hard asset with the opportunity for a great rate of return. Plus, you get the opportunity to use your unit whenever you want and membership in the Tupungato Winelands Golf and Polo Clubs, Burco Club and the Tupungato Winelands Wine Club. In addition, you’ll have common ownership of the vineyard with the other owners which will give you an annual allocation of wine which you can private label as your own.

Personally, we’ve been very happy with the Palermo Place Hotel and have taken the opportunity to be a part of this new project as well. If you’d like more details, you can check out this overview of the project or send them an email.

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Most of the U.S. expats in Buenos Aires have Charles Schwab bank accounts. This has consistently proven to be the best way to get money from U.S. accounts while in Argentina. Schwab gives you the standard day’s exchange rate for all withdrawals, charges no international fees and also refunds all ATM service charges (about $17 pesos per withdrawal). I routinely get over U$S 100 per month refunded to me. With all these great benefits, this next statement might sound weird…

I’m going to stop using my Schwab ATM card from now on.

I have found a better option - Xoom.

Xoom is an international money transfer service (like Western Union, but with much lower fees). You can send up to U$S 2,999 per transaction and up to U$S 6000 in a 30 day period. Here’s how it works:

1. Go to their website, create an account and choose the amount you want to send
2. Pay via direct debit from your bank account or choose to pay with debit/credit card (higher fees)
3. Pickup the money from a BBVA Banco Francés or More Money Transfers location or have it deposited into any Argentine bank account. If you choose to pick up the money, it will be ready within 15 minutes at most locations. Deposits to bank accounts take a couple of business days.

So, why is this better than Schwab? Because even with the Xoom fees taken into account, their exchange rate is so good that you’ll actually be getting more pesos on every transaction. For example, Schwab’s rate is $4.381 pesos per dollar. Xoom’s rate is $4.9193 $5.0166. Here’s a quick breakdown of how that works out with a direct bank withdrawal:

Send	Schwab		Xoom				Savings
Amount (USD)	Schwab Rate	Pesos Received	Xoom Rate	Xoom Fee (USD)	Effective Rate	Pesos Received	Difference (Pesos)	Difference (USD)	% Saved
$25	$4.381	$109.53	$5.0166	$2.99	$3.9948	$110.42	$0.89	$0.20	0.81%
$100	$4.381	$438.10	$5.0166	$3.75	$4.6540	$482.85	$44.75	$10.21	10.21%
$500	$4.381	$2,190.50	$5.0166	$15.75	$4.7102	$2,429.29	$238.79	$54.51	10.90%
$1000	$4.381	$4,381.00	$5.0166	$30.00	$4.7244	$4,886.10	$485.10	$110.73	11.07%
$2000	$4.381	$8,762.00	$5.0166	$30.00	$4.8683	$9,882.70	$1,120.70	$255.81	12.79%
$2999	$4.381	$13,138.62	$5.0166	$30.00	$4.9172	$14,894.29	$1,755.67	$400.75	13.36%

How much you save depends on how much you typically withdraw in a month, but you can see that at U$S 2000 or more, you’re saving over 10% 12%. For an extra couple of hundred dollars a month, I’ll gladly have them send the money to my Argentine bank account and withdraw pesos from there.

You can also choose to use your credit card to transfer money, but this has slightly higher fees and your bank will probably charge a cash advance fee as well as interest. Still, this may be an option for earning miles or meeting minimum spend requirements for airline mile bonuses (more on this in another post). You’ll still most likely be getting a similar rate to Schwab, so this may help in a crunch.

Want to give it a try? If you use any of my links to sign up, we’ll both get a $25 gift card from Xoom. This is pretty much free money too, because all you have to do is transfer $25 in order to get the gift card. So, if you only send $25, you’ll have $25 transferred plus an extra $25 on your bonus gift card for $0.29 more than a Schwab withdrawal would have cost you. Give it a try – there’s nothing to lose!

Some notes:

• The Xoom website lists that you can pick up the money in pesos or dollars, but I do not believe that is correct. I believe that you can only get pesos.
• I have transferred money to my bank account successfully, but I have not tried to send money to one of the pickup locations. If anyone has done this, let me know how it went.
• If you have an ATM card that charges fees, you can save even more money!
• This works because Xoom is offering an incredibly high rate. I am not sure if that will change in the future.

Let me know what you think. I’d love to hear from others who are doing this or plan to.

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While this regulation made worldwide news, another new regulation received significantly less press – a regulation to dramatically increase customs inspections at the Ezeiza and Aeroparque airports.

Domestic Trade Secretary Guillermo Moreno announced that additional inspectors and equipment will be brought in to combat the rise in electronics smuggling and resale by foreigners. Moreno said (translated from Spanish):

We are well aware that many foreigners entering the country now sneak in additional electronics with them to resell here. You can look at any of the classified or expat sites and see that there are iPads, iPhones, iPods and countless other electronic items for sale at two to three times the retail price overseas. These foreigners hope to turn a profit because Argentina has such tight import controls that make these products difficult to find here and more costly.

For too long, we have allowed easier access to foreigners through our airport checkpoints than to our own citizens. This must end immediately, so we are announcing new measures to combat this practice.

These new measures are included in Regulation 26/13 and state, in part:

• those with foreign passports will have all baggage inspected more thoroughly than those with Argentine passports
• all jackets and outerwear must be removed and sent through the x-ray machine to make sure no one has iPhones in their pockets
• anyone claiming to not speak Spanish will no longer be waved through customs, but will be sent to a separate line with English speaking customs agents who may conduct pat downs and, in rare cases, body cavity searches if electronics are suspected
• lack of original boxes or packaging will not be taken as a sign that devices are not new and not intended for resale
• any discovered electronics will be confiscated and the person carrying such devices may be fined, deported or face jail time

Inspectors will be on the look out for anyone who has items with protective covers still attached or plugs/cables that do not appear to be used. They caution that the best way to avoid excess scrutiny is to declare any items before you leave the country or only carry older models of electronics, such as the iPhone 2, first-generation iPad, etc. as no one will want to buy those anyhow. They will also require foreigners to turn on electronic devices and show that there is use, which may include personal documents and photos, call logs, games, etc. “If we see Angry Birds, Lady Gaga and pictures of your girlfriend, we’ll be more like to believe that your iPhone is not going to be resold,” one customs agent said.

“It is time for us to put an end to this practice and show foreigners that they must abide by the same bureaucratic laws that our citizens do,” Moreno concluded. “Plus, with additional customs agents, we will reduce the amount of time people must wait in line – another problem in Argentina that must be addressed.”

This new regulation goes into effect on April 1, 2012, so be sure and watch out!

Related posts - and please look again at the date of this post – April Fools Day.

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I have been driving in Buenos Aires with my Vermont state license and and international license that I brought from AAA in the States. While that is ok on a tourist visa, once you have residency and your DNI you are legally required to get an Argentine license. In addition, I found out that your insurance company may deny coverage if you do not have a valid Argentine license.

That last point (and getting hit by a motorcycle recently), finally pushed me into dealing with Argentine bureaucracy and going to get my license last Friday. The process is relatively straight-forward – if a bit time consuming. I’m going to detail the steps involved as some of the info I found on other expat sites has changed.

Note that you must have a DNI to get your driver’s license. Also, having a valid US state issued driver’s license means you’ll get out of taking the road test though you will still have to take the written test. Bring photo copies of both of these with you when you go (although they do have a place that does onsite photo copies too).

The first step is to make an appointment. You can do this online at the Buenos Aires city website or by phone at 147. On the day of your appointment, you’re going to have to head out to Dirección General de Licencias, Av. Roca 5252. This is way outside of the city, so plan on over an hour by bus or half an hour by car.

Once you get there, you walk in past the first two information booths (and the numerous stray dogs hanging out there) and turn to the left. There are a couple of desks there with a sign to check in. However, you actually have to go past those first to the opposite side and get a form that certifies you do not have any outstanding traffic violations or restrictions on your driving. This costs $40 pesos. (Don’t worry, they will give you the instructions on where to go and what to do when you get there.)

I hope they do not keep everything on paper!

If you have a valid U.S. issued driver’s license and plan to skip the driving test, you next have to walk out the back door and go to the second building on your left – Archivos. In the archive office, you present your U.S. license so that they can enter it into the system which is used up front.

Once you have the form and have gone to archives, you go back to check in with those forms, your DNI, U.S. driver’s license and the photocopies. They’ll check everything over and then tell you to go wait for your name to be called. From here, everything proceeds according to numbered stations:

Starting the process...

1. Check In
You wait for your name to be called and then proceed to one of the cubicles to present your paperwork and DNI. Your photo and thumb print are taken and you’re required to provide an electronic signature. Then you’re sent to the next station. (Wait time: 20 minutes. Completion time: 5 minutes)

2. Visual Test
Just like in grade school, you stare into a box and recite the numbers that you see.  (Wait time: 10 minutes. Completion time: 2 minutes)

3. Audio Test
Put on the head phones and raise your left or right arm depending on what side you hear the tone on.  (Wait time: 15 minutes. Completion time: 2 minutes)

4. Psychological Test
Ok, so this one seemed a bit strange, but it basically consists of copying about 5 different patterns that you have onto a sheet of paper to make sure you do not have any neurological disorder. After you do that, you go and sit down and talk to a representative. I’m not sure if this is another part of the psychological exam, but he basically asked me about medical conditions or medicines I was taking. He also told me I was in Argentina for 3 years and I should have better Spanish by now. (He was a low talker too, so it was very hard to hear!) Anyone, seemed like I passed.  (Wait time: 20 minutes. Completion time: 15 minutes)

5. Medical Test
Basically, this one is simple too and just consisted of being asked about medical history.  (Wait time: 0 minutes. Completion time: 2 minutes)

6. Pick Up Paperwork
At this station, you wait for your name to be called and are handed a form with the results of all your previous tests. If you passed everything, you then need to take this form to pay the fee and then take the written exam.

The cashier’s are just across the way from where you pick up the paperwork. You simply give them your paperwork and $180 pesos and they validate that on the form.

You then head out the back of the main building again and go to the exam building which is straight ahead of you. As I said, with a valid driver’s license, you do not have to take the driving test, but you are required to take the written exam. There are some other sites that mention you have to listen to a talk, but that no longer seems to be a requirement if you have a license.

The exam is 30 multiple-choice questions on a computer, and you must score a 75% or higher to pass. All the exam questions are available on their website. The only document that really matters there is “Preguntas para los Exámenes.” If you read through those and understand them, you’ll sail through the exam.

My worry was that with my still limited Spanish, I would have a hard time with the exam. Luckily, they also have the exam in English! Well ok, they have the exam in English as an option, but of course, it was not working. I sat down, the first question came up in English, but there were no answers to choose from. I had to call the moderator over who put it back into Spanish for me. He then told me, “I speak English, so I can help you if you need it.” (I’ve also heard from other people who asked for help in English and had someone help them with it.) Anyhow, as I started the exam, all the questions were pretty easy based on my reading the document I mentioned above. I sailed through it and scored a 93%.

After getting my paperwork stamped, I headed back to the #6 step where I gave them all the paperwork and my DNI and went to wait for #7. (Wait time: 10 minutes. Completion time: 30 minutes)

7. Pick Up License
You get your license on the spot, which was a pleasant surprise. (Wait time: 15 minutes. Completion time: 0 minutes)

I’m now able to drive legally in Argentina after being a resident for the past two years! As I said, the process is fairly straight forward though time consuming and a pain to get to. Let me know if you have any other questions.

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There also appears to be another option that has a lot of people talking recently – USTV NOW. This apparently legal site offers live streaming US television to American citizens living overseas (they specify this as a requirement when signing up, but do not seem to do any checking).

Their free plan includes: ABC, CBS, CW, FOX, NBC and PBS. For $19-$29/month you can get their all channel plan which includes twenty-one additional channels including ESPN. They also offer plans with a DVR feature and higher-end plans with HBO and Showtime.

In our testing, the quality was very good and this definitely looks to be one of the best ways to watch live TV from the States.

Try it out now!

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- Why Bilinguals Are Smarter [NY Times]

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The site is still in “beta” mode as we just recently launched it, but it allows you to find and use online coupons and daily deals and then rewards you with “virtual” gold coins for buying through the site. These coins can then be redeemed for prizes in our reward store. You’ll also earn gold coins when your friends buy something that you shared with them.

We’re working on adding a lot of cool new social and gamification features to the site in the near future, but I wanted to invite you to stop by and take an early look. Also, please be sure to like us on Facebook or follow us on Twitter too!

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This was a “great deal” on a 42″ flat screen in Argentina last week:

This was a “great deal” on a 42″ flat screen in the United States last week:

And to rub salt in the wound, The Atlantic Cities also points out that Buenos Aires is the most expensive city in the world to buy an iPad:

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