Send Money from Italy to Argentina
Deposit via SEPA, get the cripto dólar rate — 5-10% better than traditional services. Recipient spends instantly via Mercado Pago. No fees.
Sending money from Italy to Argentina with Peanut gives you the cripto dólar exchange rate — 5-10% better than traditional services and credit cards. Deposit via SEPA from your Italian bank in under 20 minutes, and your recipient can spend immediately at over 1,000,000 merchants across Argentina via Mercado Pago. No fees, no bank account required in Argentina.
Why Peanut for Italy to Argentina Transfers
Better Exchange Rate
Traditional banks and services like Wise use the MEP rate when converting euros to Argentine pesos. Peanut bypasses this regulated rate by converting EUR to USDC to ARS directly at the cripto dólar market rate, yielding 5-10% more pesos per euro. Credit cards also use the MEP rate and charge an additional 3-20% markup on top — Peanut has no markup.
The rate locks at the moment of payment, so the amount shown on your confirmation screen is exactly what gets charged. No slippage, no surprises.
Easy SEPA Deposits from Italy
Deposit directly from your Italian bank account via SEPA. The transfer is free, and 90% of SEPA deposits arrive in under 20 minutes. If your bank supports SEPA Instant, deposits arrive even faster. Just send euros to the IBAN provided in the app with the unique reference number — Peanut converts them to digital dollars automatically.
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No need to create an exchange account or navigate digital wallets. Your Italian bank connection is all you need.
No Fees
Peanut charges nothing. SEPA deposits are free, conversion happens at the cripto dólar rate (no fee), and local payments via Mercado Pago or cash ATM withdrawals are free. Traditional services layer on transfer fees ($5-15+), exchange rate markups (3-10%), and withdrawal fees. Peanut eliminates all of them.
Instant Spending in Argentina
Your recipient doesn't wait for a bank transfer to clear. Funds arrive in their Peanut account instantly. From there, they can:
- Scan a Mercado Pago QR code at any of 1,000,000+ merchants across Argentina — supermarkets, restaurants, cafes, street vendors, pharmacies, and shops
- Withdraw cash instantly at any Red ATM via QR code — no card needed
- Send to another Peanut user instantly
No Argentine bank account, no DNI, no local ID required.
How to Send Money from Italy to Argentina
- 1
Sign up and verify
Create an account using your email or phone number. Verify your identity with a passport or national ID card — the process takes under 2 minutes for most users and is handled by Persona, a SOC 2 Type 2 certified provider. No Argentine DNI or local ID required.
- 2
Deposit via SEPA from your Italian bank
Open the Peanut app and tap "Deposit" then select SEPA. Copy the IBAN and unique reference number provided. Go to your Italian banking app and create a transfer using those details. Send in euros — Peanut handles the conversion. 90% of SEPA transfers arrive in under 20 minutes.
- 3
Send to your recipient
Once your deposit arrives, send funds to your recipient's Peanut account (if they have one) or create a Peanut Link they can claim. Peanut-to-Peanut transfers are instant — no waiting.
- 4
Recipient spends in Argentina
Your recipient scans any Mercado Pago QR code at 1,000,000+ merchants for instant peso payments, or generates a QR for cash withdrawal at any Red ATM. No Argentine bank account or DNI needed.
Where the Money Goes in Argentina
Mercado Pago QR Payments
Mercado Pago is Argentina's dominant QR payment system, accepted at over 1,000,000 merchants nationwide — supermarkets like Carrefour, Dia, Coto, and Jumbo, restaurants and cafes, street food vendors and kiosks, clothing and electronics stores, and pharmacies.
Your recipient scans the merchant's QR code with the Peanut app, reviews the amount in pesos, and confirms. The merchant receives payment instantly in their Mercado Pago account and sees it as a normal Mercado Pago transaction — Peanut is invisible to them.
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For details, see the Mercado Pago payment guide for foreigners.
Cash Withdrawal at Red ATM
Red is one of Argentina's major ATM networks, connecting machines from multiple banks. Your recipient generates a QR code in the Peanut app (tap "Withdraw" then "Cash Pickup"), goes to a Red ATM, selects "Retiro sin tarjeta" or the QR icon, and scans the code. Pesos dispense immediately.
Red ATMs are available across major Argentine cities: Buenos Aires, Cordoba, Mendoza, Rosario, Bariloche, Salta, and Ushuaia. Find locations at red-atm.com.ar.
The QR code expires after 60 seconds, so have the app open and ready before starting the ATM flow. A small ATM network fee may apply (charged by the ATM operator, not Peanut).
For details, see the Red ATM cash withdrawal guide.
Bank Withdrawal (if needed)
If your recipient needs to move money to an Argentine bank account, they can withdraw via local bank transfer. However, instant spending via Mercado Pago and cash ATM is usually faster and more convenient.
Cost Comparison: Italy to Argentina
Peanut Total Cost
- SEPA deposit fee: Free
- Peanut fee: None — the rate you see is the rate you get (approximately 1.55% total in provider spreads embedded in the rate)
- Mercado Pago payment fee: Free
- Cash ATM withdrawal fee: Free from Peanut (small ATM network fee may apply)
Total cost: ~1.55% in provider spreads (passed through, not a Peanut fee)
Competitor Comparison (EUR 500 Transfer)
| Service | Exchange Rate | Transfer Fee | Total Cost | Recipient Gets (ARS) |
|---|---|---|---|---|
| Peanut | Cripto dólar | EUR 0 | ~EUR 7.75 (1.55% spread) | ~510,000 ARS |
| Wise | MEP-equivalent | EUR 3-5 | ~EUR 30-40 (MEP gap + fee) | ~485,000 ARS |
| PayPal | MEP + markup | 3-4% (~EUR 15-20) | ~EUR 45-65 (markup + fee + MEP gap) | ~475,000 ARS |
| Western Union | 5-10% spread | EUR 5-15 | ~EUR 40-65 (spread + fee) | ~470,000 ARS |
| Traditional Bank | MEP + 3-20% markup | EUR 15-40 | ~EUR 55-90 (markup + fee + MEP gap) | ~460,000 ARS |
Savings with Peanut: EUR 22-82 on a EUR 500 transfer compared to alternatives. The cripto dólar rate delivers 5-10% more pesos than services using the MEP rate, and Peanut's zero-fee model eliminates the EUR 5-40 transfer fees charged by competitors.
For a EUR 2,000/month digital nomad budget, that's EUR 88-328 saved every month, or EUR 1,056-3,936/year.
Common Use Cases for Italy to Argentina
Tourists
Traveling to Argentina from Italy and need local spending power without carrying cash or using credit cards with terrible rates? Deposit via SEPA before your trip or while in Argentina (SEPA works 24/7 for SEPA Instant). Pay at restaurants, supermarkets, and shops via Mercado Pago QR, or withdraw cash at any Red ATM. No Argentine bank account or DNI needed — just your passport.
See the Argentina tourist payment guide for more details.
Digital Nomads
Working remotely from Argentina while getting paid in euros? Peanut gives you the cripto dólar rate (5-10% better than credit cards) and instant local payments. Pay rent, groceries, coworking spaces, and everyday expenses via Mercado Pago without the 3-20% markup traditional cards charge. Deposit via SEPA as needed throughout the month.
See the digital nomad payment guide for Argentina for more details.
Cross-Border Travel
Moving between Italy and Argentina frequently? Peanut eliminates the need to juggle multiple bank accounts, carry large amounts of cash, or accept poor exchange rates. Deposit euros via SEPA, spend pesos instantly in Argentina, and withdraw back to your Italian bank account when needed.
See the cross-border money management guide for more details.
