What to pay attention to when buying dollars in Mercado Pago

Payment Market recently enabled the option for buy dollars through its application, but it is not yet available to all users. However, many people who have already used the feature have found that sometimes the amount they select in advance differs from the amount they end up receiving. From iProfessional We will tell you why this happens.

What should I take into account before buying dollars through Mercado Pago?

Before buy dollars through Mercado Pago It is important to keep in mind that, unlike a bank, you are not buying dollars “directly”, but rather you are resorting to the purchase of MEP dollar or stock market.

For operate MEP dollar An asset that is quoted in both pesos and dollars is used, the most common being bonus AL30. In the case of buy dollars, The voucher is purchased in pesos, one waits for 1 day of parking and then it is sold in dollars, obtaining a implicit exchange rate. In the case of wanting to sell dollars, the operation is reversed. That is, the bond is purchased in dollars and then sold in pesos. It should be noted that in this last operation parking restriction is removed.

In the specific case of Payment Marketthe operation that is performed is the same, with the difference that the user, unlike a conventional operation in a brokerjust click buy or sell dollars and the rest of the operation is handled by Mercado Pago.

However, Being an implicit operation with parking, unlike the direct purchase of dollars as occurs in banks, the amount of dollars that will be obtained is always approximate, since the price of the bonds can rise or fall, so the amount may differ. Besides, the bonds must be purchased whole, that is, they cannot be divided. For example, if the bond used is quoted at $1,000, the pesos to invest must be a multiple of $1,000.

In the case of using a number that is not a multiple of the bond price, Payment Market will initially reflect the approximate dollar amount for the total, but, when the operation is completed, it will be done for the bonds actually acquired and the difference in pesos will be returned.

For example, if 11 dollars were to be purchased at $1,200 ($13,200), but the bonus was worth $1,000, the order will end up being executed for $13,000, crediting the corresponding dollars (in this example it would be approximately $10.83) and the $200 separately. In the case of Payment Market reflects it as “Turned“.

What are the requirements to buy dollars in Mercado Pago?

Yeah you buy MEP dollar you will not be able to operate “dollar savings” for the next 90 days, being the only restriction that applies for the simple fact of having acquired this currency. However, in order to acquire the US currency through the stock exchange you must comply with certain requirements, among which are:

  • Saving dollar purchase: not having purchased US currency through the bank in the last 90 days;
  • Social programs: not be a beneficiary of IFE, AUH, income reinforcement nor any other social plan or assistance;
  • Joint holders of bank accounts: Only one person can buy the MEP dollar Bank account;
  • Refinancing of installments and credit cards: those who cannot buy a dollar stock market They could not pay due installments or those who have refinanced the credit card balance for 12 months;
  • UVA debtors: those who benefited from the freezing of UVA mortgage payments until July 2022 they cannot buy the MEP dollar either;
  • Unreported income: as in the entire stock market system, it is necessary to have declared income to be able to operate;
  • Energy subsidies: Those who have requested the access will also not be able to access subsidy for electricity and/or natural gas.

To buy dollars through Mercado Pago, the same requirements must be met as to do so on your own in an exchange.

On the other hand, people who benefited from ATP during the pandemic it is still unknown if They may or may not buy dollars. Although during the government of Alberto Fernandez had stated that, as it was not an active benefit, there would be no impediment to buying dollars, the reality is that many stockbrokers continued to warn that the beneficiaries of the ATP They couldn’t buy dollars. However, with the change of administration there has not yet been any news in this regard, so the ideal is to consult with the entity with which you will operate.

Furthermore, the situation of the people who have requested subsidized creditslike the one offered to monotributistas of $4,000,000 with an interest rate 50% cheaper than the commercial one, since, at first, it was estimated that they would not be able buy dollars. In this way, before operating with Payment Marketit is important to verify compliance with all requirements.

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