Moving to the USA in a few weeks - How do we transfer money?
 

Wow,

It has been a a long few months, but our goods are finally being shipped to SFO on Wednesday. My husband and I are due to fly over in the next few weeks.

We are going to stay with my husband's cousin for a few weeks.
But how do we manage our money situation?
My husband wants to transfer £25,000 from his savings account?
What is the best way to do this without incurring too many costs?
Also, how do we choose a bank? Bank of America vs Wells Fargo.

So, excited, the move is finally happening!

Re: Moving to the USA in a few weeks - How do we transfer money?
 

you need a US bank account first
then most use xe.com to move it

Re: Moving to the USA in a few weeks - How do we transfer money?
 

Try currency solution's in the uk we've used them for the last 10 years and they will walk you through, bank is personal choice all much of a muchness
good luck :)

Re: Moving to the USA in a few weeks - How do we transfer money?
 

Isn't anything over 10k declare able to the IRS? Might be a good idea to look into that.

Re: Moving to the USA in a few weeks - How do we transfer money?
 

It is done automatically....you don't need to do anything. Maybe you're getting mixed up by bringing 10K+ in cash/cheques etc into the country with you...then you have to declare that to customs.

Re: Moving to the USA in a few weeks - How do we transfer money?
 

And although the report goes to the IRS, it has nothing to do with taxes - transfers are not per se taxable.

Re: Moving to the USA in a few weeks - How do we transfer money?
 

Good point. :)

Re: Moving to the USA in a few weeks - How do we transfer money?
 

xe or any of the other currency exchange service.

As for bank, plenty of threads going over that...but what ever one has the best local coverage would be probably best.