How to send money from Argentina to Spain
There may be many reasons why you’d need to send money from Spain to Argentina. Maybe you’re an Argentinean citizen who has come to Europe to work due to the stabler economic situation in the Old Continent, and want to send remittances to your friends and relatives who stayed at home.
Or maybe you’ve found a great business opportunity in Buenos Aires and want to support any emerging shop there. Argentina has a developed market that, despite occasional economic shortages derived from political unrest, keeps having important options to settle a commerce.
Or maybe you’re considering the chance to become a loaner for private individuals. This new financing system is becoming increasingly popular, thanks to the advantages it has when compared to traditional bank credits.
In any of these cases, you need a reliable, safe and efficient method to send money to Argentina from Spain. You need the guarantee, first, that the money will arrive; then, that it will be fast; and finally, that it won’t cost too much.
Among the currently existing means to perform this procedure, without any doubt cryptocurrencies are the most appropriate one. Would you like to know why? Keep reading, we’re telling you right now!
Which means are there to send money to Argentina from Spain
Historically, many systems have been in use to make your money arrive from Spain to Argentina or other international destinations. All of them have advantages and drawbacks. Here are some of the most popular ones:
- Physically going there. Of course, you always have the possibility to travel personally carrying a suitcase full of notes, during holidays or at any other moment you have to take the flight. It may sound a bit old-fashioned, but there still are people who keep doing it this way. The good part is that you enjoy yourself during the trip. The bad one is that it isn’t cheap at all, as the plane tickets tend to be rather expensive. And be careful at Ezeiza airport customs: you’ll have to declare the cash, and if it’s over the legal limit you may get into trouble.
- International delivery companies. There are many companies specialized in dealing with this procedure on your behalf. You simply go to their office, give them cash and they’ll make it arrive to the person in its destination. Good part: you skip the nuisance of handling bureaucracy. Bad part: almost everything else. You have to go personally to their agency, which may be located far away from home and opens only at certain times, possibly not very suitable for you. It takes a lot of time, hours when it goes well, days or weeks if not. And it usually charges quite expensive fees.
- Postal order. It sounds like a system from back in the ages, but it still works. It’s pretty much similar to delivery companies, the main difference being that national post services take care of the procedure. In principle (but not necessarily) logistics and fastness are better, although it doesn’t always happen. Fees tend to be fairer, quite high anyway. It’s safer, indeed, because it’s guaranteed by state-run operators. There’s a limit on the amount you can send.
- Bank transfers. In the very same way you can move money between two Spanish accounts, you can also do it with another account in an Argentinean bank. Since it’s an international movement, you need to know the destination account’s IBAN and the receiving bank’s SWIFT codes. The process can be done at any time and from anywhere with an Internet connection, and it’s usually fast, even though it depends on the agreements affected banks had reached. As Argentina is out of the Eurozone, a fare is charged, which can be extremely high (if you’re sending a not very large amount, you may have to pay more fees than the money you’re actually sending). Besides, banks tend to apply their own exchange rate, which usually is not very convenient for the user.
- Payment platforms. PayPal is the most well-known. Their main advantage is that they’re extremely easy to use and, in this specific case, they’re ubiquitous worldwide and can be used to purchase items in virtually any website. On the other hand, when sending money from Spain to Argentina almost everything else are disadvantages: the procedure can be delayed for many days, fees are very high and the exchange rate is possibly the worst among all alternatives.
- Peer to peer (P2P) methods. In practice, it’s about companies, such as TransferWise, who own accounts in both countries. You deposit your money in one, the receiver withdraws it from the other. Therefore, you as a user don’t need to go through a bank, so you forget about commissions and the exchange rate is very convenient. The bad part is that, even if it’s rather fast, it’s not immediate: it usually takes at least one day. And they manage everything, so you lose control of the operation.
All systems have their strengths and weaknesses. Apparently, there’s none that fulfils completely all your requirements without any drawback. Or is there?
Cryptocurrencies: the best solution to send money from Spain to Argentina
Of course, there is a fast, cheap, safe and reliable way to perform such a procedure. Cryptocurrencies, such as Davies, offer the possibility to manage your international money deliveries comfortably and with every guarantee.
A cryptocurrency transfer removes all intermediaries: money goes straight from the user in Spain to the one in Argentina, without going through any other hands. This way you get rid of commissions and the delivery cost is very low. Besides, as the operation is performed without using fiat money (euros or pesos) but directly with the electronic currency, you don’t need to care about exchange rates’ volatility.
The procedure, being 100% based on Internet operations, gets completed instantly and doesn’t depend on space or time: you can manage it at any time and from any place where your smartphone is connected, and the money will take only a few seconds to arrive. Also, thanks to blockchain technology, you’ll be fully protected against frauds or scams.
Would you like to know more about how cryptocurrencies work, how can they help you send money from Spain to Argentina and in which other useful ways can you take advantage of them? Follow our blog, where we’ll carry on solving all your doubts!