Send Money to Argentina — Pay Less, Arrive Faster
Get the cripto dólar rate — 5-8% more pesos than Wise or PayPal. Your recipient spends instantly via Mercado Pago. No fees on either side.
Send Money to Argentina and Save 5-8% on Every Transfer
Traditional services like Wise and PayPal route your dollars through the regulated MEP exchange rate, costing your recipient 5-8% in lost purchasing power before the money even arrives. Peanut bypasses that entirely. Your dollars convert directly to pesos at the cripto dólar rate — the free market rate — so your recipient gets more pesos per dollar, every time.
Once the funds land, the recipient can spend immediately at over 1,000,000 merchants across Argentina through Mercado Pago, pull cash from Red ATMs in every major city, or move the balance to a local bank account. No waiting days for a transfer to clear. No asking the recipient to set up a special account. No DNI required.
Why Peanut Is the Best Way to Send Money to Argentina
Better Exchange Rate
Argentina's exchange rate system is uniquely complex. Banks and credit cards use the MEP rate (Mercado Electrónico de Pagos), a regulated financial rate. Wise and PayPal also convert at roughly the MEP rate. The cripto dólar is a separate, unregulated market rate for converting digital dollars directly into Argentine pesos — and it consistently delivers 5-8% more pesos per dollar.
Peanut uses the cripto dólar rate because it converts digital dollars to pesos in a single step, without routing through the regulated dollar-to-peso pipeline. Credit cards take two hops (digital dollars to USD to ARS via MEP), and each hop costs you. On a $500 transfer, the difference is $25-$40 in extra purchasing power for the person receiving the money. Over a year of monthly transfers, that gap adds up to over $1,200 in savings.
You can see the numbers side-by-side on the Peanut vs Wise and Peanut vs PayPal comparison pages.
No Fees
Every step is free. Depositing into Peanut costs nothing — whether you send digital dollars from an exchange, transfer via SEPA from a European bank, use ACH from a US account, or initiate a wire transfer. Sending the money to your recipient is free. Spending via Mercado Pago QR is free. Cash ATM withdrawals are free from Peanut (the ATM operator may charge a small network fee). Bank withdrawals are free.
Stack that against what the alternatives charge:
- Wise: 0.4-1.5% in additional charges on every transfer
- PayPal: 3-4% cross-border fee, plus an unfavorable exchange rate markup
- Western Union: $5-$15+ flat fee per transfer, plus a 5-10% rate markup built into the rate
Instant Spending
The moment funds arrive in a recipient's Peanut account, they can walk into any Mercado Pago merchant and pay. No multi-day settlement window. No waiting for a bank to release a hold.
Peanut-to-Peanut transfers are always instant — when you send money between Peanut accounts, the funds appear in milliseconds because it is an internal ledger update. If you deposit via a supported network, the timeline depends on the rail: digital dollar deposits arrive in minutes, SEPA deposits land in under 20 minutes for 90% of users, and ACH deposits take 1-3 business days.
Compare that to Wise (1-2 business days) or Western Union (hours to days just to make funds available for pickup).
No Local Account Needed
Info
Most financial services in Argentina require a DNI (the national identity document). Foreigners without residency cannot get one. That means no local bank account, no CBU or CVU identifiers, and no access to most local payment apps. Peanut removes that wall entirely. A passport from any country is enough to verify your identity and unlock full spending access through Mercado Pago QR and Red ATM withdrawals.
How It Works
- 1
Sign up and verify your identity
Create a Peanut account and complete identity verification. Submit a photo of your passport or national ID card plus a selfie — the process takes under 2 minutes for most users. Verification is handled by Persona, a SOC 2 Type 2 certified provider. Peanut never sees or stores your documents.
- 2
Deposit funds
Fund your account using the method that fits your location. US users can deposit via ACH (free, 1-3 business days) or send digital dollars from Coinbase or another exchange. European users can use SEPA bank transfer (free, 90% under 20 minutes). Anyone can send USDC, USDT, or DAI on Solana, Arbitrum, Base, Tron, Avalanche, Polygon, or Ethereum — all deposits are free and arrive in minutes.
- 3
Send to the recipient
The recipient creates their own Peanut account and verifies with a passport or national ID (no DNI needed). Send them money directly — Peanut-to-Peanut transfers arrive instantly. If you are the one traveling to Argentina, skip this step and spend directly from your own account.
- 4
Recipient spends locally
Your recipient opens the Peanut app, taps "Pay," and scans a Mercado Pago QR code at any of 1,000,000+ merchants. They can also withdraw pesos from Red ATMs using a cardless QR code, or transfer to a local bank account.
Where the Money Goes
Mercado Pago
Mercado Pago is Argentina's dominant payment system, accepted at over 1,000,000 merchants nationwide. Supermarkets like Carrefour, Dia, Coto, and Jumbo all accept it. So do restaurants, cafes, street food vendors, kiosks, pharmacies, clothing stores, and electronics shops. Mercado Pago is owned by MercadoLibre, the largest e-commerce and fintech company in Latin America.
Here is how the recipient pays:
- Find the Mercado Pago QR code at the merchant — a printed sticker at the point of sale or an on-screen display
- Open the Peanut app and tap "Pay"
- Scan the QR with the phone camera
- Review the payment — merchant name, amount in ARS, the digital dollar amount being charged, and the exchange rate
- Confirm — the merchant receives pesos instantly in their Mercado Pago account
The merchant sees a completely normal Mercado Pago payment. They have no idea Peanut is involved. The rate locks at the moment of payment, so the amount shown on the confirmation screen is exactly what gets charged.
Important: Peanut works only with Mercado Pago QR codes. MODO and Cuenta DNI use different, incompatible QR standards and are not supported.
Cash (ATM Withdrawal)
For situations where cash is needed, the recipient can withdraw pesos from any Red ATM in Argentina using a cardless QR withdrawal:
- Open the Peanut app and tap "Withdraw," then select "Cash Pickup"
- Enter the peso amount — the app shows the ARS total, the digital dollar equivalent, and the cripto dólar rate
- Confirm and generate a one-time QR code
- At the Red ATM, select "Retiro sin tarjeta" (cardless withdrawal) or the QR icon
- Scan the QR within the 60-second timer
- Collect the pesos
Red ATMs operate 24/7 in Buenos Aires, Cordoba, Mendoza, Rosario, Bariloche, Salta, Ushuaia, and other major cities. Cash availability varies, especially at night or in smaller locations. ATM withdrawal is free from Peanut — the ATM operator may charge a small network fee.
Bank Transfer
The recipient can also withdraw their Peanut balance to a local Argentine bank account. This option is slower than Mercado Pago or cash withdrawal, but it works for users who want funds in a traditional bank for rent payments, utility bills, or other needs.
How Much Does It Cost?
Peanut charges no fees on deposits, transfers, spending, or withdrawals. The exchange rate is the rate — there are no hidden charges layered on top.
Here is how a $500 transfer to Argentina compares across services:
| Service | Transfer Fee | Exchange Rate | Effective Rate Disadvantage | Approximate Total Cost on $500 |
|---|---|---|---|---|
| Peanut | Free | Cripto dólar | Baseline | $0 in fees |
| Wise | 0.4-1.5% ($2-$7.50) | MEP-equivalent | 5-8% worse than cripto dólar | $27-$47+ |
| PayPal | 3-4% ($15-$20) | Unfavorable markup | 3-20% worse than mid-market | $55-$80+ |
| Western Union | $5-$15+ | 5-10% rate markup | 5-10% worse | $60-$105+ |
The savings scale with the amount you send:
| Amount | Approximate Savings vs. Wise | Approximate Savings vs. Credit Card |
|---|---|---|
| $50 dinner | ~$3-$4 | ~$9 |
| $500 one-time | ~$25-$40 | ~$43-$167 |
| $2,000/month | ~$100-$160/month | ~$170-$500/month |
| $24,000/year | ~$1,200-$1,920/year | ~$2,040-$3,432/year |
For full details, visit the pricing page.
Fee: Free — no deposit, transfer, or spending fees.
Exchange rate: Cripto dólar (free market rate). Consistently 5-8% better than MEP.
Speed: Peanut-to-Peanut is instant. Mercado Pago spending is instant. SEPA deposits land in under 20 minutes.
Best for: Anyone who wants the most pesos per dollar with zero fees.
Fee: 0.4-1.5% per transfer ($2-$7.50 on $500).
Exchange rate: MEP-equivalent — 5-8% worse than cripto dólar.
Speed: 1-2 business days for most transfers.
Best for: Users who prefer a traditional bank-to-bank transfer flow.
Fee: $5-$15+ flat fee per transfer.
Exchange rate: 5-10% markup built into the rate.
Speed: Hours to days depending on delivery method.
Best for: Cash pickup in remote areas without Mercado Pago coverage.
Sending from Specific Countries
Send Money from the United States to Argentina
US-based senders have two main deposit paths. ACH bank transfer is the simplest: initiate a transfer from your US bank account to Peanut's ACH details. It is free but takes 1-3 business days to clear. For faster funding, send USDC on Arbitrum or Base from Coinbase or any other US exchange — deposits arrive in 1-2 minutes and cost nothing on Peanut's end.
Common use cases from the US corridor include remittances to family, paying contractors, and tourists pre-loading their accounts before a trip. Full guide: Send from US to Argentina.
Send Money from the United Kingdom to Argentina
UK senders can deposit via SEPA if they hold a euro-denominated account (free, 90% under 20 minutes). For GBP-denominated accounts, the fastest path is buying digital dollars on a UK exchange and sending them to Peanut on Solana or Arbitrum — deposits arrive in minutes. Full guide: Send from UK to Argentina.
Send Money from Spain to Argentina
Spain has one of the strongest corridors to Argentina, with deep cultural and family ties. Spanish senders deposit via SEPA bank transfer — free, fast, and available from every Spanish bank. Send euros to Peanut's SEPA details and the funds land ready to spend in Argentina in minutes. Full guide: Send from Spain to Argentina.
Send Money from Germany to Argentina
German senders benefit from SEPA bank transfer — the fastest fiat deposit rail. Send euros from any German bank account. SEPA deposits are free and 90% arrive in under 20 minutes. If your bank supports SEPA Instant, deposits arrive even faster. Full guide: Send from Germany to Argentina.
Send Money from Brazil to Argentina
Senders in Brazil can deposit digital dollars from a local exchange on networks like Solana or Tron — deposits are free and arrive in minutes. This corridor serves cross-border travelers moving between the two largest South American economies. Full guide: Send from Brazil to Argentina.
Send Money from France to Argentina
French senders deposit via SEPA bank transfer — free, with 90% arriving in under 20 minutes. France has a growing community of digital nomads and travelers heading to Argentina. The cripto dólar rate means your recipient gets 5-8% more pesos than through traditional bank transfers. Full guide: Send from France to Argentina.
Send Money from the Netherlands to Argentina
Dutch senders use SEPA bank transfer — same fast, free rail available from any Dutch bank. Digital dollar deposits via Solana or Arbitrum are an alternative for users who want funds to arrive in minutes. Full guide: Send from Netherlands to Argentina.
Send Money from Italy to Argentina
Italy has particularly strong historical ties to Argentina, making this one of the most active European corridors. Italian senders deposit via SEPA bank transfer — free and fast. The recipient gets the cripto dólar rate, delivering 5-8% more pesos per euro than traditional services. Full guide: Send from Italy to Argentina.
