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How to receive money from abroad: a complete guide
How to receive money from abroad is a frequent question among freelancers, remote workers, or people who receive help from family members in other countries. In Argentina, there are several ways to do it, and each has its own conditions: costs, crediting times, and requirements.
In this guide, we show you the most commonly used options for receiving international transfers, how long they take to arrive, what fees apply, and how to make the most of your money with solutions like the belo app.
Top 3 options for receiving money from abroad in Argentina
When choosing a method to receive money from abroad in Argentina, it is essential to consider aspects such as costs, crediting times, and requirements. Below, we detail the most commonly used options.
1. Bank transfers (SWIFT)
A SWIFT transfer is a transaction carried out between bank accounts in different countries through the SWIFT network. It is one of the most traditional and secure methods for receiving money from abroad, but it is also one of the most expensive and slowest.
What do you need to receive dollars via SWIFT?
Have a bank account in dollars (not all of them allow receiving transfers; check with your bank).
Your bank's SWIFT code.
Your full details (name, address, account number).
Advantages:
Ideal if you are going to receive large amounts or if your client or family member can only send it through a bank.
Disadvantages:
It is an expensive method since bank fees are usually higher (they can exceed 5% when including intermediary banks).
Not all dollar bank accounts allow receiving foreign currency from abroad.
Typical delay of between 3 and 7 business days.
2. Money transfer companies
Services like Western Union or MoneyGram allow you to receive money from abroad in cash, without needing a bank account. They are very popular options when the sender cannot use banks or digital platforms.
Advantages:
You do not need a bank account.
It is a fast option, since the money can be available in minutes.
You can receive cash or, at some branches, choose between pesos or dollars.
Disadvantages:
You have to go in person to an agency.
Fees depend on the country and the amount sent.
They apply their own exchange rate, which usually includes an extra margin.
3. Digital wallets
Fintechs or digital wallets like belo offer a simpler and more complete solution to receive money from abroad and use it instantly, no matter where you are. The whole process is 100% online, without the need to have a traditional bank account or go to a physical branch to manage your money.
What do you need to receive money with belo?
Simply create an account, verify your identity, and generate the necessary details so the person sending can transfer to you.
Advantages:
Low fees or even no cost, depending on the method.
Fast crediting: although it is usually instant, in some cases it can take up to 4 business days.
The funds are credited to your account as digital dollars (USDC), and you are not required to convert them to pesos. With belo, you can use them directly to pay, save, or send to other contacts without going through a forced conversion.
Flexibility to use the funds: you can save, pay bills, send money, or convert to pesos whenever you want.
Receive dollars, euros, and reais with belo
With your belo account, you can receive payments in multiple currencies and use them instantly in Argentina. You choose how to get paid and what to do with your money. Below, I leave you a list of our available services and guides to learn how to use them.
Click this button and discover all the ways to receive and make the most of your payments from abroad
What do I need to receive money from abroad?
No matter which option you choose to receive money from abroad, there are some details and requirements you will always need to have on hand:
Your DNI or identity document.
The details of your bank account or the wallet you use.
SWIFT code (if you choose a bank transfer).
MTCN code (if you are sent money via Western Union).
And any other information requested by the platform you use.
Key information for international transfers
It is essential to keep a few points in mind to avoid complications:
Depending on the method you choose, there may be limits or restrictions on sending and receiving money to or from Argentina.
If you frequently get paid from abroad, we recommend getting advice from an accountant to properly comply with your tax obligations and avoid surprises with taxes or regulations.
Now that you know how to receive money from abroad and are familiar with the main alternatives available in Argentina, you can choose the one that best fits your way of working and your needs.
See you next time!
