Bank fees in Argentina for receiving payment from abroad?
Thread poster: Jan Sundström

Jan Sundström  Identity Verified
Sweden
Local time: 13:03
English to Swedish
+ ...
Apr 6

Hi all,

I represent an LSP. Currently we only pay our freelancers by bank transfer. We have a handful of translators in Argentina, but they point out that their bank fees are very high for receiving foreign transfers. To offset this, the translators must add the cost to their minimum charge or ask us to accumulate the jobs before we pay.

Those of you who receive bank transfers, can you recommend any particular bank with lower fees? How much is the typical bank fee per transfer?

We've been looking at using an intermediary like Payoneer, but for administrative reasons it takes a long time to implement.

Thanks in advance,

/Jan


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Melina Ruiz Arias  Identity Verified
Argentina
Local time: 08:03
English to Spanish
+ ...
Bank fees Apr 6

Hello Jan
I hold two bank accounts (in two different banks) where I receive payments from clients abroad (USD/EUR currency). In both cases the fees per wire transfer (up to 20K) is USD 60 + local taxes that may apply.

Hope it helps
Melina


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M. F. Pignataro  Identity Verified
Argentina
Local time: 08:03
English to Spanish
+ ...
Bank fees Apr 6

Hi Jan,

I receive wire transfers from Belgium and the US, and the fees are minimum USD 50 per each transfer, i.e., if you have to transfer let's say USD 200, this system is very expensive. With both clients I usually wait until reaching a minimum of USD 1,000.

I don't know if your company also works with PayPal. In this case, there is a new alternative now called Nubi (https://www.tunubi.com/) that allows to send the money you may have in PayPal directly to your bank account. I think the commissions are about 3%. There is a commission calculator in their webpage in order to have an approximate estimation of the expected expenses.

Nevertheless, I have never tried this option yet.

I hope this information may have helped you.

Regards.

[Edited at 2017-04-06 14:06 GMT]

[Edited at 2017-04-06 14:07 GMT]


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Clarisa Moraña  Identity Verified
Argentina
Local time: 08:03
Member (2002)
English to Spanish
+ ...
Paypal commission is 4,4% May 4

M. F. Pignataro wrote:

Hi Jan,

I receive wire transfers from Belgium and the US, and the fees are minimum USD 50 per each transfer, i.e., if you have to transfer let's say USD 200, this system is very expensive. With both clients I usually wait until reaching a minimum of USD 1,000.

I don't know if your company also works with PayPal. In this case, there is a new alternative now called Nubi (https://www.tunubi.com/) that allows to send the money you may have in PayPal directly to your bank account. I think the commissions are about 3%. There is a commission calculator in their webpage in order to have an approximate estimation of the expected expenses.

Nevertheless, I have never tried this option yet.

I hope this information may have helped you.

Regards.


Paypal: 4.4% transaction fee plus a fixed fee based on currency received. https://www.paypal.com/us/webapps/mpp/paypal-fees
I'm sure Nubi will also apply a commission.

Our bank charges us a minimum of 60 USD per transfer (up to 1000 US) and 5% of the total amount for receiving the money. Local taxes are also applied.

Regards

Clarisa


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