The Liberation of the stocks leads to banks and Fintech begin to make different exchange operations more flexible. In this case, Cocos launched a solution to avoid the high cost of the “Dollar Card” and pay less for international consumption. That is, it is avoided paying an official exchange rate with the aggregate of 30% of the advance of the income tax, since it directly converts the operation with a debit card outside the MEP dollar.
This way, When paying with the debit card of this Fintech during travel transactions in other parts of the world, or foreign services that appear in US currency such as, for example, Netflix, Spotify, Disney+ or Tinder, and even purchases through Amazon, it will be done at the financial market price. And not as an operation through the official square, where surcharges are applied.
Today, the implicit price of dollar card (Officer plus taxes) that is applied to Payments with debit and credit cards is $ 1,600. Instead, the MEP (or bag) has a value of $ 1,240about 30% less.
This coconut solution applies to payments made with your debit card of consumption abroad, since These operations are not weighed, but automatically acquires in the MEP to the “spent” dollars with the pesos available in the client’s remunerated account, or in the investments made on the platform.
Therefore, when paying a product or service in foreign currency, the User will not require buying dollars manually to the MEP, nor do “stop debit”, to avoid paying a higher exchange rate.
“This option represents a much more convenient and simple alternative than the traditional use of credit cards, since eliminates surcharges derived from currency changes and avoids the need to perform manual operations such as debit stop, the purchase or transfer of currencies and the cumbersome tax discount in the summary to cancel the balance, “he says Ariel SbdarCEO and Co-Founder of Cocos.
In the case of the payment of services that are raisally rang in American currency, such as Netflix or Spotifythe users of this Fintech benefit from a cheaper dollar, since they are paid in dollars without perceptions, although to the subscribers will be charged only the corresponding digital services taxaccording to the provincial jurisdiction of the user.
More ways to pay in dollars abroad without taxes
In this way, users of this app can pay for its international consumption, without the 30% advance to earnings, with:
• Pesosaccessing the liquid funds of the coconut account.
• Dollarsusing the currencies deposited in the account.
• Inverted pesos In the common fund (FCI) of fixed income of the platform.
• Invested dollars In the common investment fund (FCI) that provides daily yields.
In summary, as explained from coconuts, whatever the payment method that the user chooses, the conversion will always be done at the value of the dollar of the momentwithout taxes or need to make currency changes.
“The difference is that those cOporate dollars in advance, freeze the exchange rate, avoiding possible increases, and if they pay directly with inverted dollars, they maximize the performance of their money, Since they are still invested until the last moment, “they recommend from this application.
With this they refer to the fact that that saving that decides to pay with his debit card abroad, with the weights into account, must run the risk of canceling the change rate of the moment to perform the operation. Therefore, if the price of dollar fluctuateswill be subject to both the rises and the casualties of the date on which it makes consumption, with the lack of predictability that this entails.
What is the cheapest way to pay in dollars?
While paying MEP dollar It is one of the ways of paying one of the lowest prices of the exchange system today, it should be remembered that with the elimination of the stocks, since last Monday the price of the dollar in banks is lower than the stock market ticket. So the other option is Acquire Cash “Green” In financial entities at a lower value to use in operations.
For example, The MEP closed on Tuesday around $ 1,241, however in Banco Nación the price of the retail ticket was $ 1,230. That is, about 11 pesos cheaper, or about 1% less.
Of course, the problem of this is that the cash should be taken abroad, or be deposited in account to pay in this type of currency each transaction, in order to take advantage of this “slight” advantage and avoid paying taxes applied to international payments with cards or with pesos into account through the official square.-
