Argentina Paypal-users activities limited to international payments
Paypal is to prevent users in Argentina from transferring money between their own accounts. The online payment service said that from 9 October: “Argentina resident Paypal-users may only send and receive international payments.”
Last year the Argentine government announced restrictions on the purchase of US dollars. It has led to an increase in currency sales on the black market - but Paypal's exchange rates are better.
Locals were setting up two accounts under different email addresses and transferring money between the two, exchanging local currency pesos for dollars in the process.
Under the new rules only one account per person can be registered within Argentina.
The government's rules were designed to curb the flight of savings from the country and make the economy less dependent on the US dollar.
Since the rules were introduced in November 2011, Paypal has been used as an alternative means of obtaining the US currency close to the official exchange rate, which currently stands at about 4.7 pesos per dollar.
That is much cheaper than the rate on the black market where one dollar costs about 6.3 pesos.
Argentina suffers a high inflation rate - private economists say prices are increasing by about 24% a year. This adds to a general lack of confidence in the local currency caused by memories of its depreciation during the economic crisis of 2001.
Many residents have tried to protect their savings against the risk of further turmoil by putting the money into more stable currencies.
Economist Eduardo Marty told the BBC that currency restrictions had been extended to all economic activities, from the export of goods to foreign travel.
“You have to apply for permission to import any goods,” he said.
“If you need to travel abroad the government gives you a meagre amount of money. Sometimes they approve it at the last moment and people are forced to buy on the black market.”
In September the government established a new 15% tax on all purchases made abroad, affecting credit cards and purchases made on international websites like Amazon and eBay, and transactions made on Paypal.
Following local media coverage about complaints over constraints to the Paypal service, the company acknowledged that the blockades were imposed by local banks.
In a statement sent to the BBC, Paypal apologised for the “inconvenience” the decision may cause.
“Argentina is a very important market to us as we expand our global footprint, and we are currently very focused on providing Argentine merchants and consumers the best possible service.
”Paypal customers in Argentina are still able to utilise Paypal for international transactions with 190 markets around the world,” said the company.
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57 comments Feed
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Then use the begging bowl.
Hypercrit or what .
.
Glad i can still use it to buy from the internet.
Love to hear that one!
hope they wake up soon. the people of Argentina have not woken to the crimes there government puts them though
Do you know what this mean for the 100 oo0's of expats in Argentina who want to buy stuff thru Paypal linked to a NON Argentine account?
I guess they-ll still get stung at customs when they have to declare the value of the imported item and prove how they paid for it.
folks, check it out...Bitcoin is invisible/untraceable money.
You can even buy gold and silver with them..;)...and pay no TAX (duh, it's invisible/untreable)
maxkeiser.com: understanding bitcoin security, Trace Mayer interviewed by visionvictor.
www.youtube.com/watch?v=OtN9YUvh_XM&feature=player_embedded
1, We have lots of gold in San Juan Argentina we can even start our own gold currency
then,
2, gold is the reason for anarchist to destroy the industry and support terrorists, institutional theft and anarchy.
,,,,,,,,,,,,,,,,,,,,,,,,,,
hangmans rope for sale,
hangmans rope for sale,
only 2 bits of gold .lol.
Thankfully i managed to make some purchases through Paypal today.
You can shove your shitty restriction up your ass..
Exactly!! I hope they wake up soon!! before KFC ruins their country for ever
Shows you have no clue of what you're talking about. Pieter Thiel is proud of idiots like you.
WTF does killing muslims have to do with this. Besides.....they wanted to fight the western world........the western world decided to bring it back to them. The politicians should unleash the full force of the military and make that sand bowl....a glass bowl.
And then you wonder why the “non-western” world is mass-weaponizing and fast.
I'd say Iran get nukes, and Israel make public that they do. Then everyone else get nukes.
The world is most peaceful it's been proven when all sides can annihilate the other. Which is why since the fall of the Soviets the world has been much more unstable and violent.
Argentina should build their own nukes to protect the main land from British occupation, as we have Malvinas Argentina under illegal occupation already, we need to use the excuse to arm ourselves in South America.
In Argentina they call them Taxi Boys
Typical, you have no valid arguments so you resort to insult people, but i guess its a regular thing of you malvinistas and KKs to discredit other people regardless of their opinion.
Bitcoin is useless for me, i can't use it anywhere i buy my products.
“Glad i can still use it to buy from the internet.”
You can for now, but with Fat Chavs best friend Ahmadinanutjob wanting to cosy up to RG, things may change.
At least RG’s will be able to read what makes em’ happy when Argipedia replaces Wiki.
www.businessinsider.com/iran-plans-to-stop-using-the-internet-by-2013-2012-8
There's always a workaround for that kind of stuff. ;)
very interesting,
as women have no rights or possision in Iran, where does this leave poor old CFK ,
walking six steps behind, bowing to her master,
...............
nah it would not work,
CFK would be much better served if she exbanded her dream empire over the spannish,
and get an argentine foot hold in Europe,
now that will make her indocronought happy,
then the pirate and the rest can live in spain.
real name ALEX VARGAS
“I think anyone who waste Argentina's wealth in another country should pay 50% taxes. As we pay in Canada when we import.”
ABsolute tripe!!
“ the english make such a big problem in Argentina??? Because we let them that simple, because they are killing muslim women and children all the time all over the planet and yet we read this garbage about Argentina,”
You are RANTING absolute nonsense that has NOTHING TO DO WITH ARGENTINA
“ if you import anything into Argentina I demand you be treated as I am treated outside Argentina, pay taxes damn you all, I pay them!”
LOL, you ARE an angry little kid aren't you.
Meanwhile, we laugh at you.
'Poor little me' , you cry.
While you live in the comfort of Mummy and Daddy's home in Canada, then you wish hardship on your “fellow” Argentinians, by their own corrupt government.
You reference everything to Canada, I'm sure you know nothing else.
You CANNOT travel to Argentina - you have already stated that, previously.
You obviously do not have a passport to travel, or you cannot get back into Canada if you leave.
Perhaps you have a criminal record??
I can tell the other users reading these posts that you make up taxation stats only to suit yourself.
I can tell them too, that your information posted about Canada is usually incomplete and misleading, if not completely wrong or irrelevant.
In fact - YOU are irrelevant.
Even “pgerman”, the Malvinista in Vancouver, calls you an ignorant kid and “intellectually dishonest”.
That's being kind.
Now, go complain elsewhere.
His noble deeds for World Peace include shoplifting and vandalism.
Hides in safety
Whilst his beloved Argentina goes to hell,
Very convenient ..
CFK would be wise to be afraid of historians, lawyers, academics, scholars, and other genuine debaters...
She can't risk that.
However, one hopes that while she is shopping in NYC, the Argentinian people will organise a coup, and Tango Farce One will leave the US without her.
C'mon Argues, this is your chance!
Just a suggestion.
NOBODY would want that!
Except the Thinking people of Argentina.
:-)
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