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How to transfer money?

How to transfer money?

Old Jun 26th 2008, 3:15 pm
  #1  
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Default How to transfer money?

Hi,
I am moving overseas for work and want to take (legally) my savings with me. If I want to transfer money in excess of $50K, what should be the most hassle-free and cost effective way? Travelers checks, bank draft, cash, wire transfer, etc? I would want to keep my savings in a US$ denominated account overseas.

I have heard a lot of horror stories about wire transfer getting stuck due to various issues like DHS clearance, dated US banking system etc, so I am very skeptical about using wire transfer. But I could be wrong...

If I am physically transporting the money/monetary-instruments, I need to file Form 4790 with the customs per US laws.

Anyone out there who went through a similar situation?

Thank you for your help.
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Old Jun 26th 2008, 9:03 pm
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Default Re: How to transfer money?

xe.com

Bank will file that your shifting large sums of money around automatically.
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Old Jun 27th 2008, 8:32 am
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Default Re: How to transfer money?

He doesn't need an exchange facility - he said he is keeping it in dollars. Just needs a simple bank to bank transfer.
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Old Jul 16th 2008, 9:43 am
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Default Re: How to transfer money?

xemoney will also not deal in AED.
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Old Jul 16th 2008, 11:25 am
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Default Re: How to transfer money?

Doesn't deal in Dirhams? How odd.

My contacts will do transfers between most currencies (including Dirhams) at wholesale rates for amounts equivalent to GBP10,000/USD20,000. No other charges, quick and straightforward. UK company.

PM me if anyone wants info.


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Old Jul 16th 2008, 3:23 pm
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Default Re: How to transfer money?

Yes, I emailed them yesterday xe.com and they replied this morning advising that they do not trade in AED. I would love to know who to use that has no fee with great rates, but sorry I have not worked out how to PM yet??
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