maxs mom

We've got our IR1 visa in hand!!! Now we're preparing to move from the UK to the US and need to understand how much cash we can physically take with us in to the US? There's four of us travelling: my husband and myself, my 2 year-old and 4 month-old. I think it's $10k per adult, but can my kids also take cash?

Anyone know or have specific experience about this? Thanks in advance!

Just Jenney

After looking at this webpage, I would say that the $10,000 is limited per family unit. However, I'm not entirely sure so don't take my word for it.

~ Jenney

ian-mstm

You've asked and answered your own question.

Any amount over $10,000 must be declared at the border, but I don't think there's an actual restriction on how much you can bring into the US with you.

Ian

Rete

You are not landing in Canada where you have to actually show funds in order to land. Why are you hand carrying cash into the US? There is such a thing as international banking.

Bill_S

You can take as much as you like. Anything over $10,000 must be declared, but is not prohibited. The declaration is to prevent money laundering, and there is no tax on bringing your own money into the US (in any amount). But do you really need to carry so much cash?

fatbrit

What Bill said. ^^^^

penguinsix

a) don't close your bank account in the UK if at all possible. It's an absolute bear (bordering on impossible) to re-establish once you are here, and it's good to have available for just a few months at the very least.

b) just wire the money to your US bank account once you get one established. Or use xe.com or another foreign currency account.

Carrying over 10k is really not necessary in this day, unless on day 1 you have to put down a deposit on an apartment or something. It's just far safer to do things electronically, with a small amount to cover meals and toothbrushes and other things you might have forgotten while you wait for your belongings to arrive.

maxs mom

Thanks everyone. I guess my question was a bit premature as I have since also found out about the $10k (undeclared) limit. Yes, you can bring in more but need to report the value on a form to the IRS.

Please know that while we do have an international account already set up, not all banks have the same requirements therefore the fees can be considerable - for which ever route you choose to transfer the money. And it's not always as easy as a bank transfer you may do between your savings and checking account. With our bank, it involves several ridiculous steps and our rate of interest will be affected as well as the monthly maintenance fee for the int'l acct itself.

And for the curious people...we may just need the cash to buy a car with and put as a down payment on a house within the 1st week we arrive; int'l bank transfers - or wires for that fact - are not instant.

Again, thanks for all the responses!

BritishGuy36

a) That's why you do a thing called 'shopping around'....

b) Yes, it is.

c) Well if you are going directly from a UK bank to a US bank of course they are going to sting you.

Set up an account with a dedicated exchange agent, who will transfer your money at a far better transfer rate and low or zero fees. I use UKForex.co.uk - was a snip to set up and if I send them £ on a Monday afternoon (via online banking) the $ are in my US bank account on Wednesday morning*.

* I should specify that it's that fast because both UKForex and I use Barclays, so the amount clears overnight - if you don't bank with Barclays it may take longer with UKForex than two days end to end.

maxs mom

I've used this site a few times to ask questions regarding my situation and to read the varied, odd issues from others. Something I'll never understand is why, people who are seeking help are treated with such snobbery and utter rudeness. The arrogance of many, so called moderators is borderline intolerable and mostly inexcusable.

Speaking with experience, as I'm an American married to a British man - and currently residing in the UK - I completely understand the cultural differences in the US and the UK whereas politeness and courtesy is concerned. Make of that what you will but I'm glad to be going back to the US...it can't be soon enough.

'Cheers'

(sorry to those of you who are here to be helpful and supportive)

meauxna

heya mm,

I had to have a good little chuckle.. I read you loud and clear, but I know you'll laugh at the irony that the above are US citizens! (plus me, except BG36 and still not sure about penguinsix).. well, the majority anyway.
I guess I've learned how to 'read' Rita.. all I can say is: New York City!

We just wire transferred our money when we came over this side (it's Treasury, not IRS that you report the +10K to and the banks will do it if you xfer). I'm sorry that xferring electronically isn't a good option for you; I would be uncomfortable carrying that much cash/TC/whatever.

Anyway, don't let it get you down; it's the info you're after and not a new BFF, so let it roll. Best wishes for a successful flight/move.

maxs mom

....see, meauxna - you've just proved a point for me. It's just not that hard to be nice. Thanks for adding your input!

Bob

Don't bother bring cash, more hassle reporting it on your own than if you just transferred it when you set your bank accounts up.

But as mentioned, there isn't a limit on how much you can bring, just how much before you need to report it. Wiring it, the bank would automatically do it for you.

Englishtart

You are not allowed to bring ANY cash to the US...you have to mail it ALL to me immediately!

Dan725

I must admit I had to chuckle at this thread....I have a vision of you, your husband, your 2 year old and 4 month old all getting off the plane with $10k each in used notes stuffed down your trousers and hidden in the stroller....would probably make the immigration folks day If you do it, let us know how it works out!

In all honesty, how about that well trodden www.xe.com route? Once it's set up, it really is "As easy as all that".