How to transfer money?
Jun 26th 2008, 3:15 pm
#1
Forum Regular
Thread Starter
Joined: Oct 2002
Posts: 43
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.
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.
Jun 26th 2008, 9:03 pm
#2
BE Site Lead
Joined: Aug 2004
Location: MA, USA
Posts: 92,170
Re: How to transfer money?
xe.com
Bank will file that your shifting large sums of money around automatically.
Bank will file that your shifting large sums of money around automatically.
Jun 27th 2008, 8:32 am
#3
Bored liberal
Joined: Feb 2007
Location: Over there ----->
Posts: 13,713
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.
Jul 16th 2008, 9:43 am
#4
Just Joined
Joined: Jul 2008
Posts: 15
Re: How to transfer money?
xemoney will also not deal in AED.
Jul 16th 2008, 11:25 am
#5
Bored liberal
Joined: Feb 2007
Location: Over there ----->
Posts: 13,713
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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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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Jul 16th 2008, 3:23 pm
#6
Just Joined
Joined: Jul 2008
Posts: 15
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??
