Anyone used Curve in Argentina?

[Iainm]

I’m currently in Uruguay and will be heading over the Buenos Aires in a few days.
Been reading up on the various exchange rates – Official/MEP/Blue-

Has anyone used Curve and got the MEP? I might be reading things wrong, but it looks like you definitely get that rate with a Visa card, but not so sure about MasterCard. My underlying card will be Barclaycard avios…also a MasterCard.

I had previously planned on using cash, but the devaluation seems to have changed the rationale

[JDB]

I have used Curve extensively in Argentina and it works well and actually seems to get a better rate than other cards. However, on 15 December Curve sent a notification that they were suspending ARS transactions until further notice and I haven’t had any further information.

Note also, that whatever card you use, the published MEP rate isn’t the rate you will actually achieve; expect a haircut of maybe 5-10% as there is no official MasterCard, Visa or Amex rate for the second leg of the conversion – it’s based upon on actual daily market transactions. You will get the real blue rate for clean $100 bills.

[Iainm]

Thanks JDB

Good information. I wasn’t aware of the situation with curve.

I think I’m back to my original plan if withdrawing $100 bills in Uruguay and changing them.

Thanks

[JDB]

Iainm wrote:

Thanks JDB

Good information. I wasn’t aware of the situation with curve.

I think I’m back to my original plan if withdrawing $100 bills in Uruguay and changing them.

Thanks

It may work again because that notification was when the currency markets were hugely volatile after the devaluation. I hope so as I shall be there next month, but anyway the blue and the MEP are now a bit more aligned than they have been in recent weeks.

[qc]

Still not working in Argentina.

We did a comparison on our cards here Barclaycard was a better rate than the MBNA Horizon card which has no FX fees.

[TGLoyalty]

Iainm wrote:

Thanks JDB

Good information. I wasn’t aware of the situation with curve.

I think I’m back to my original plan if withdrawing $100 bills in Uruguay and changing them.

Thanks

Just use the Barclaycard directly 3% card fee is far better than losing out on the rate difference

[jumpersforgoalposts]

Does anyone have any datapoints on using Curve in Argentina more recently?

We’re off in a few weeks and I’ll be taking clean 100$ bills to change out there, but will be attempting to use my Curve or Nationwide Visa where taken.

[Iainm]

jumpersforgoalposts wrote:

Does anyone have any datapoints on using Curve in Argentina more recently?

We’re off in a few weeks and I’ll be taking clean 100$ bills to change out there, but will be attempting to use my Curve or Nationwide Visa where taken.

When I was there in January and February I used Revolute a couple of times because Curve took about 4 weeks to get back to me to say I could indeed use Curve (I was back in the UK by then!).

I too had planned on taking $100 bills and changing them, but honestly, for the hassle of going to wherever it is the guys will change it, I used Western Union.
Sent myself money and picked it up. There’s a WU on every second street corner and the rate is so close as you’ll get from the street changers that you won’t notice.
Fee free on your first transaction as well.

I’d also add, the difference between the rate you’ll get on your cards v the WU rate will add up over any more than a few days.

[jumpersforgoalposts]

Iainm wrote:

jumpersforgoalposts wrote:

Does anyone have any datapoints on using Curve in Argentina more recently?

We’re off in a few weeks and I’ll be taking clean 100$ bills to change out there, but will be attempting to use my Curve or Nationwide Visa where taken.

When I was there in January and February I used Revolute a couple of times because Curve took about 4 weeks to get back to me to say I could indeed use Curve (I was back in the UK by then!).

I too had planned on taking $100 bills and changing them, but honestly, for the hassle of going to wherever it is the guys will change it, I used Western Union.
Sent myself money and picked it up. There’s a WU on every second street corner and the rate is so close as you’ll get from the street changers that you won’t notice.
Fee free on your first transaction as well.

Great that’s really helpful thank you.

[Tom2]

I was there back in middle of March and curve did not work at all – tried with different funding cards too to no avail.

[JDB]

Curve unfortunately suspended ARS transactions last December and hasn’t reinstated them. Shame as the gap has widened again between the official and MEP credit card rates (currently $ about 950 vs 1450) and Curve maximises that opportunity.

Also, re WU mentioned above, many agents don’t carry a lot of cash, so better to send in small clips, maybe max ARS200,000 – ARS250,000. The big own brand WU branches have more cash but may have queues.

[jumpersforgoalposts]

@JDB thanks. Presumably using my FX free Visa Nationwide credit card will benefit from the MEP rate? My working assumption is to use my CC where possible first, then use the cash (taking out small amounts at a time).

[JDB]

jumpersforgoalposts wrote:

@JDB thanks. Presumably using my FX free Visa Nationwide credit card will benefit from the MEP rate? My working assumption is to use my CC where possible first, then use the cash (taking out small amounts at a time).

Yes, virtually any card should work. Curve is problematic in the ARS dual rate world because of the way it rebills to another card. With Visa, it seems to vary as to whether you get the MEP rate right away or get a rebate a week or so later as happens with MC or Amex. That time seems to have got a bit longer of late. Don’t expect to get the actual published MEP rate (and there isn’t an official MC/VI rate) but maybe a 5% -7.5% haircut on that rate. Cash is useful as some restaurants and shops will give good discounts for cash.

[AFKAE]

JDB wrote:

Also, re WU mentioned above, many agents don’t carry a lot of cash, so better to send in small clips, maybe max ARS200,000 – ARS250,000. The big own brand WU branches have more cash but may have queues.

Sometimes they run out of money too. Happened to us in one of their Salta branches. there was another, but it was a bit of a hike so went for a street deal instead.

[Iainm]

jumpersforgoalposts wrote:

@JDB thanks. Presumably using my FX free Visa Nationwide credit card will benefit from the MEP rate? My working assumption is to use my CC where possible first, then use the cash (taking out small amounts at a time).

This makes me laugh!
Curve customer service actually told me (once I was home) I could use it.

They’re good aren’t they?

[Tracy]

I’ll be in Argentina end of the month. Trying to figure out the best way to pay for my large expenses, namely hotels. I’m assuming even if hotel booking is quoted in US$ I’ll still be charged in ARS at some exchange rate or other 😂. I have MBNA horizon, nationwide flexplus, chase and revolut.

[JDB]

Tracy wrote:

I’ll be in Argentina end of the month. Trying to figure out the best way to pay for my large expenses, namely hotels. I’m assuming even if hotel booking is quoted in US$ I’ll still be charged in ARS at some exchange rate or other 😂. I have MBNA horizon, nationwide flexplus, chase and revolut.

Yes, on the day you will be charged the US$ price converted into ARS at the daily official bank rate. Within a week or so, you will get a rebate on your card for the difference between that rate (today ARS950) and something closeish to the MEP card rate (today ARS1335). Those are both US$ rates, so you will need to adjust for the £/$ rate. Historically, some Visa cards have gone straight to the MEP rate, but it varied by card and I don’t know how it is now. As a foreign resident, you shouldn’t be charged the 21% VAT normally applicable on hotel bills as long as you pay with a foreign credit card. The system should work for all four of your cards.

[Tracy]

Thanks @JDB. So if my hotel costs US$1000 excluding 21% VAT, I’ll be charged 950k ARS by the hotel to my credit card. This will translate to US$711 at MEP rate? Obviously using rates when I go…

[LD27]

We’re going to Argentina next month so this information is really useful. Had thought of using curve. Looks like it will our Nationwide and NatWest black account cards. Also have Santander zero card which I assume would be the same.

[JDB]

Tracy wrote:

Thanks @JDB. So if my hotel costs US$1000 excluding 21% VAT, I’ll be charged 950k ARS by the hotel to my credit card. This will translate to US$711 at MEP rate? Obviously using rates when I go…

Yes, you have the basis right, but I would think more like $730 as you won’t get quite as much as the MEP rate. The bottom line is that while there’s a decent gap between the two rates, a US$ in Argentina will end up as a lower sum in £ on your card statement than a US$ spent in the USA. It’s magic! That gap only makes a difference for $ based costs, otherwise for ARS expenses like restaurants it’s just the MEP exchange rate. There are lots of moving parts, including the £/$ rate, the official ARS rate which is designed to devalue by 2-3% per month and the blue/MEP rates which are effectively set by market supply and demand. Have a great trip!

[Tracy]

Thanks @JDB. I’m sure it will be a great trip. All a bit complicated. What’s to stop the hotel using the MEP rate for the conversion on checkout? Where is best to check the official and MEP rates? I’ve already been stung with the fluctuating rates on a cancelled flight 😂

[Scott]

Tracy wrote:

Thanks @JDB. I’m sure it will be a great trip. All a bit complicated. What’s to stop the hotel using the MEP rate for the conversion on checkout? Where is best to check the official and MEP rates? I’ve already been stung with the fluctuating rates on a cancelled flight 😂

Your best bet is to ask the hotel before making a (non-refundable) booking. There are reports of establishments, and I experienced it myself, using the MEP rate on foreign card transactions, which defeats the point of it as it was introduced to dissuade tourists from using the black market exchanges.

[Matt]

An additional little irritation, not directly relevant while Curve is out of action in Argentina: I paid for a bus tour online with my Curve card last year, in ARS. The MEP refund didn’t happen, and when I eventually got a response from Curve they told me that the MEP rate only applied in Argentina, and since (unbeknownst to me, on an apparently Argentinian website) it was based elsewhere, no refund was due.

[JDB]

@tracy – I look at the rates on ámbito – https://www.ambito.com/contenidos/dolar.html as it has all the rates and is regularly updated. For the oficial rate, a lot of hotels will display it at the front desk and refer to it in the terminology from that link – ‘dólar oficial’ or ‘dólar Banco de la Nación’. You will see also ‘dólar MEP’. Don’t be tricked by the ‘dólar turista’ which is the rate for Argentinians using their cards abroad. You should check how many ARS they are planning to charge before completing the transaction.

@Scott – I haven’t come across this abuse myself, but have heard of it. I think you are quite unlucky as most places at all price points are very decent. Anywhere trying this is probably going to stiff customers in other ways as well. Trouble is there are too many gullible people who let them get them get away with it, particularly Americans who struggle with the concept of a $ not being worth a $”

@Matt – it’s a bit harsh if you didn’t know the payment was being taken outside the country. I think it’s a response to a few dodgy people who worked out when the MEP was introduced that one could buy something online in other parts of the world, change the currency to ARS and get a huge dollar discount. Visa and PayPal picked this up very quickly.

[Tracy]

Thanks all, I have 2 pay on checkout reservations for Argentina so will definitely ask for ARS equivalent they will charge to my credit card before paying and hopefully it’ll be the official rate used lol.