Thread: Real vs Dollar and other currency issues
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06-06-23 23:39 #1964
Posts: 1428Mondays
What's up with Mondays and the Bank ATM's? Yesterday was the second Monday I couldn't withdraw Reals from Bradesco ATM's. I visited the two branches: NS Copa and Barrata Ribeiro. No problems today.
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06-04-23 05:34 #1963
Posts: 4059Originally Posted by JavaMan [View Original Post]
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06-03-23 23:39 #1962
Posts: 1428Originally Posted by Nrlmus [View Original Post]
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06-03-23 23:36 #1961
Posts: 1428Originally Posted by Eszpresszo [View Original Post]
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06-03-23 18:01 #1960
Posts: 69$500 daily limit on cash withdrawals in Sao Paulo on Sundays
Originally Posted by Questner [View Original Post]
Just for folk to keep in mind to avoid panicking if you get rejected trying to withdraw more than 500 in SP on Sunday.
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06-03-23 03:47 #1959
Posts: 1347Originally Posted by JavaMan [View Original Post]
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06-03-23 00:25 #1958
Posts: 1428Bank ATM's
After 4 yrs away, I've returned to Rio. Last time I was here I used by Schwab card at a Bradesco ATM with no issues. I tried the Bradesco ATM on Barrata Ribeiro after I landed, but it rejected the card. I called Schwab who said it could be an issue with the ATM, as there was no block from them So I went to the Banco do Brasil branch on NS Copa but gave me an over limit withdrawal message. Tried other ATM's there not they didn't accept the Schwab card. I looked at Santander nearby but didn't see the Visa, MC icons on the ATM's. Went across the street to Bradesco, and I was able to withdraw Reals. WTF! A few days later I tried the Bradesco branch on Barrata Ribeiro again and it worked!
Then yesterday, my Schwab card was rejected by ALL the Bradesco ATM's at the NS Copa and Barrata Ribeiro branch. I tried the Banco do Brasil branch: Several ATM's weren't dispensing money, A few said I was over the limit, one said I entered the PIN incorrectly. Last resort: Banco24 hrs, It worked, no issues, but a are $24 fee, ($4. 79 usd. } BTW, ALWAYS decline the conversion ANY offers you. It's a ripoff.
And today, I was able to make a withdrawal at the Barrata Ribeiro branch. WTF is going with these banks ATM's? Welcome to Brazil. SMH.
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04-03-23 01:20 #1957
Posts: 1077The Vig Is Up
As of the beginning of March, I noticed something was not right at the ATMs here in Brazil. The foreign exchange commission on foreign ATM cards has gone up.
The first time I noticed it was on the loathsome Banco24 Horas ATMs that are ubiquitous in supermarkets, shopping malls and bus stations. Previously a lofty 14% it actually went up to 15% recently. I try to avoid using those, but the thing is, they are actually very convenient, they almost always work when the ATMs are down or just not taking your card at Bradesco or Santander. They are you last resort, and an expensive one. Sadly, they are the easiest and quickest to use of all Brazilian ATMs.
However, I went to withdraw cash from a Bradesco ATM and lo, it was up to 11%, whereas it had previously been 8% commission, which is high when you consider numerous bank ATMs in Colombia charge 6%, maybe 5%. But, 11%? I did a withdrawal from Santander and it had also gone up from 8% to 10%. Not as high as the others, but still a dime out of every buck you exchange.
I didn't try the ATMS at Banco do Brasil our Itau, as those have never worked with any of my debit cards, whether it be Schwab, Chase, Comerica or Truist / BB&T. A Brazilian woman I went out with had a German bank account and told me Itau quit working with foreign cards, years ago. Forget about CAIXA, those places are weird. I was dating a woman here in SP, and she had trouble getting her CAIXA card to work at their ATMS.
Summary: look for other ways to get cash. There are various apps and banking services that will let you get cash at a good exchange rate at other types of locations. You can get cash at Western Union withdrawn directly from your bank account using their app. But, the fees are even worse, if not extortionate. REMITLY and XOOM (Paypal) look promising, but I've yet to try them out and it will have to wait. I'm leaving for Bolivia tomorrow, so who knows what surprises that might bring at the ATM.
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03-29-23 01:10 #1956
Posts: 1077No value for the monger in Argentina
Originally Posted by TheCane [View Original Post]
https://bluedollar.net/informal-rate/
The blue rate was broadcast daily on this TV program that was always on when I went to eat at this cafe near where I stayed. See attached photos.
It's not that Argentina is cash friendly, but credit cards are not widely accepted there. Really. Nor would you want to use credit cards as you would pay the extortionate official rate. On my first night there I went to the grocery store and used my card. They needed my ID to complete the transaction. Yes you get double the exchange rate on the street or via sending yourself cash via Western Union (yes you can send yourself cash to Western Union from your bank with the phone app though the fees are extortionate) which pays the Blue Rate. But, that doesn't make Argentina cheap. At least not in Buenos Aires. While good wine is cheap at the corner store, a cup of ramen noodles of all things, was pricey by US standards (about $2. 50 at the official rate that week). Really. The first night I arrived, I did not have any pesos yet, as I arrived late and the host of my AirBnb was going to exchange pesos with the next day. I went to a famous pizza place on Avenida Corrientes (the Broadway of Argentina) and paid for dinner with my card. I ordered a small personal size pizza and two small draft beers. It came up to nearly $24 USD (about what you pay in the US).
Do individuals accept foreign currency? Gladly. But, you need to know what the prices are do the math quickly in your head or with a calculator. For the taxi ride from Puerto Iguazu to the falls on the Argentinian side, I was able pay with a mix of dollars, reais, and leftover Argentine Pesos from my previous visit two months earlier. I'm pretty sure the cabby got the better end of the deal. By the way, foreigners pay a premium to enter the national park on the Argentine side of the falls. The Brazilian side is cheaper and has a much better view of the falls, though I don't regret seeing both perspectives.
As for mongering, Buenos Aires was the most frustrating experience of my life. There is no Truvalia Advertising webpage for escorts in BA (Truvalia is the Bulgarian "publisher" of Photoacompanhantes and for other websites that provide escort ads for half of South America). There were local websites with girls but they were crap. Prices were not cheap even if you have exchanged cash at the blue rate. I did contact a number of girls there but their responses were largely unprofessional. Not all of them, maybe less than half use Whatsapp unlike Brazil and Colombia.
As for the punting experience, it was disappointing. Unfortunately, there was no current, post pandemic info on the Buenos Aires forum and though I am registered on that unique forum, I was unable to put up a travel notice or ask for help. With no other resources, I had to sort through the websites I found for the locale. One girl made an appointment to meet me at her love hotel of choice in just 40 minutes. It was a 15 minute walk from my AirBnb. She didn't show up nor did she answer my zap messages. At least the guy at the desk at the hotel suggested I take a chair and wait for her to show up, though I was ready to pay for the room at the moment I arrived. Good thing I took his advice. Exactly two weeks later she sent me another Whatsapp message explaining that she had trouble with her zap. Even if that was true, how did it make her forget to show up at the hotel she directed me to in less 40 minutes?
I reached out to another girl on Whatsapp, and got a professional automatic response message with prices, and details. She was across town though But we agreed to make an appointment for the following afternoon. When the time approached the next day, I sent a zap to confirm the appointment and get the location. I got another automatic response with new prices. Almost 30% higher than the day before! At first, I wondered if this was a gringo ripoff, but it was an auto response, so I'm guessing she was doing what she had to do in such an inflationary environment. My rent went up 37% in April of last year, so I can't say her operating costs are not going up. I can only imagine what her rate would be now. But, I don't care as I have no interest in returning soon.
You're wondering why I don't post this beef on the Buenos Aires forum? Well, its seems I am unable to post anything there, so I will post it here.
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03-24-23 15:22 #1955
Posts: 6483Commentary?
Originally Posted by TheCane [View Original Post]
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03-12-23 23:23 #1954
Posts: 6483Check it out!
Seems this could be a good time to consider going to Brazil's neighbor to the south (very cash friendly at this time):
https://www.cnbc.com/amp/2023/03/11/...ange-rate.html
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01-23-23 19:57 #1953
Posts: 2019Originally Posted by TheCane [View Original Post]
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01-23-23 16:45 #1952
Posts: 6483Ooops!
Originally Posted by TheCane [View Original Post]
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01-23-23 11:59 #1951
Posts: 6483Hmmm?
Don't think I would want to tie my finances to Argentina's: https://www.ft.com/content/5347d263-...4-79485d1287b4.
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09-23-21 18:08 #1950
Posts: 2292What is the outlook for the BRL from here?
Posted is the historical chart of BRL v USD, and BRL v CHF.