There are more and more options to hack the system, to be able to save dollars and beat inflation. what are the options?
Open an account in the US It is an option increasingly used by Argentines looking to invest abroad.Collect work done for foreign companies or save dollars to shelter from the shocks of the local economy.
Looking at this scenario, Neobank was developedCompanies working through: apps for provide financial services Intuitive, accessible and 100% digital, with own or third party licenses, complying with the rules and standards of each market. Within this universe there are,
- They meet savings, accumulation, payment, transfer, investment and credit needs for a country or region, such as nubank in Latin America or Rebellion In Europe (model followed by ULA)
- solve global financial issuesAs utopia one of two face bankthat allows work in america From any country
- they pay attention international payment,As Payoneer one of two behaviour
In all cases, the idea is to offer global services For all users including Argentina.
Account in the US: what are the most used services
utopia There is a California neobank, backed by US investment funds: Designed and built for non-residents, provides a Account and card in dollars, Firm executive Vanessa Tavella assures IProUP: ,Allows to send and receive transfers domestic and international Save & Pay anywhere in the world with debit card master card,
Thus, “Utopia democratizes access to the global financial system and guarantees equal rights to all remote workers and savers regardless of their nationality or country of residence. solve a space all customer needs,
“While similar platforms in Utopia charge between 1% and 2% We do not charge fees to send or receive transfers within the US, Neither for account opening or maintenance, nor do we request a minimum deposit amount,” he concludes.
Another difference according to Tavella is that “Account is in the name of the customer: All ACH (Direct Payment) that the recipient sends to the US are received in his or her name, making it easy to identify”.
Similar service is provided by Fintech GrabrFi, “In 5 minutes, with a cell phone you can Open a Free Account in the US“, He says iProUP Juliet Chiarello, firm executive. ,it has no maintenance costwe even send a free mastercard debit card in dollars and Money protected up to $250,000 by the FDIC”, Federal Deposit Insurance Corporation.
Chiarello claims that It is “ideal” for travelingconsumption abroad Receive payments in dollars from customers or foreign companiespay international services or just save into one of the most stable currencies in the world”.
for his part, behaviour Started in 2011, established under the name transfer wise Two friends “fed up” with high commissions and lack of transparency in cross border payments. “Solve it all by International transfers locally, reducing expenses user’s”, assures iProUP Helen Romanzini, Product Marketing Manager for Wise LATAM.
it also provides Multi-currency account for sending money and other very useful additional functions, such as Manage more than 50 currencies at once or use local bank details get money in 10 different currencies local, eg dollar and euroWithout paying high bank commission.
Wise’s services are for anyone who spends, receives or sends money in any other currency.Whether you are a tourist, freelancer, student or a customer of an international online store.
These services allow Argentine freelancers to have their fees deposited into a US account
,Big companies and banks also use Wise technology., This is a completely new international payment network That one day it will move money across borders to everyone, everywhere. It’s on a mission to make your life easier and help you save money”, full.
The platform applies the interbank exchange rate that can be viewed on Google While converting between currencies with no hidden charges. A small fully transparent commission is paid In the concept of conversion between currencies or by shipment.
“All the facilities make Multi-Currency Account is a Good Option in Argentina what’s that for receive or exchange currency and looking to diversify their savings,” says Romanzini.
for his part, global66 Its services include International shipment to over 65 destinations Of the World; A multi currency wallet Which allows conversion and access to multiple currencies.
,We Make Life Easier for Hispanics and Latin Americans, Our fast, safe and accessible products are part of global accountare linked to each other and with distinct characteristics”, assures iProUP says Gaston Farnitz, Country Manager for Argentina and Ecuador at Global66.
According to the executive, “people can choose a Alternative to traditional institutions with much lower prices, In addition, we have the largest digital infrastructure in Latin America, covering a large portion of the region with 100% digital services. For people and companies.
Neobanks and international payment systems offer lower costs and greater flexibility than traditional banking
Within the range of products, Furnitz describes “the multicurrency wallet Which allows currency exchange, money transfer between wallets global66, mastercard prepaid cardCollection tools for users and companies, and low-cost international money transfers, all 100% digital”.
How do these options work?
From utopia, Its spokeswoman says access is very easy. ,Anyone in the 31 countries we are in can activate the account with their cell phone, By downloading the app and having your passport in hand, verifying your identity via a video, the process will be completed in less than 3 minutes,” he says.
Chiarello from GabrFi, assures service expires Simply download the app and set up an account, Requirements are:
- ,Happen over 18 years old and is ID, passport or driving license,
- ,A phone number Where we can contact you and receive SMS”
- ,a valid mailing address and email,
To open a sensible account, it is necessary to make a initial deposit of 20 euros, “That amount can then be converted into any of the other 50 available currencies at the moment,” explains Romanzini.
executive states that It is not possible to use Argentine debit or credit cards or make transfers in pesos. You will need to use alternative methods and fund in Dollars, Euros or Sterling.
first, you must Verify identity with photo of ID or passport And selfie, “Once confirmed, you can fund your account with any of the payment methods available in Argentina,” he explained.
These services only require a document or passport, being of legal age and performing identity verification
in the matter of global66, He Create an account in the app or website, ,The registration process is quick and easy. Only basic information and an identity document are required Once verified, get immediate access to our products,” says Furnitz.
,Then, you can reach us Multicurrency Wallet, Convert & Send Money To over 65 destinations around the world. we also offer Instant transfers between Global66 users and our collection device”.
According to Tavella, the main beneficiaries are IndependentBecause they estimate that “in 10 years, 50% of workers from emerging countries Between 20 and 40 years will adopt this modus operandi, Providing services for companies or clients in developed markets,
“The model will cover 900 million people. However, differences in financial systems and exchange restrictions create major headaches for these professionals when it comes to charging for their hours of service,” he says.
“A safe and stable currency and easy access to the economy helps people do what they love at work, in life, on the go,” Chiarello concluded.