Check in US dollars

[smile44 4]

Have looked at various options for transferring money and leaning towards using transferwise. My wife is going to the bank this week to ask if she needs to have a different type of account there while residing abroad. We plan to leave some in there for student loan payment and to have funds while visiting. She thought she would also ask about the possibility of getting a check in US dollars made out to me and carrying it across the border. Any pros and cons to doing it this way instead? Tried to search but kept getting a lot of threads about paying fees this way, not transferring money. Also wondered if there would be any issues transferring money over $10,000 if her name isn't on my account yet. They require her signature so we'll do that when she gets here. Thanks!

[Nich-Nick 3,354]

I think you have a lot of questions that should be asked at the banks. Every bank could have different policies or use higher/lower exchange rates.

Can I keep my account here if I move out of the country?

What is your fee to issue a check in US dollars?

What exchange rate do you use?

What happens if I lose the check?

Can you accept a $10,000 check in US dollars payable from a foreign bank?

Can you accept a $10,000 check in British pounds?

Is there a fee?

What exchange rate do you use?

On a wire transfer, she could pay money to anybody, not just herself. The paperwork to Inform the government of large sums of money is to make a paper trail. If you happen to be someone under investigation as funding terrorists or money laundering, then the paperwork shows the money came from your immigrating wife and not the British mafia.

She would declare a carried check to CBP when she enters.

[smile44 4]

Thanks, that's very helpful! I did a bit more research and looks like hsbc really gets you on the exchange rate for a transfer so I assume the same rate would apply for a check in US dollars. So unlikely we'll go that route anyway. She will still ask since she needs to let them know she's leaving the country, but will probably stick to the original plan of using transferwise. Thanks again!

[Pheebs1201 269]

I usually load money on to a postoffice travel money mastercard. Can't remember the upper limit but I think it's at least $7000. I find this to be an easy and secure way to spend my money in the US.

I have also used both western union and transferwise and had no problems with them either.

[smile44 4]

I usually load money on to a postoffice travel money mastercard. Can't remember the upper limit but I think it's at least $7000. I find this to be an easy and secure way to spend my money in the US.

I have also used both western union and transferwise and had no problems with them either.

That's an option I hadn't thought about, thanks! Do you know if both parties need to provide ID/proof of address for transferwise or just one?

[Pheebs1201 269]

That's an option I hadn't thought about, thanks! Do you know if both parties need to provide ID/proof of address for transferwise or just one?

Hmm when we used transferwise we did it online and it went from my account (UK) to his (US) account in three days, I don't recall ever having to prove my identity for that.

With Western Union I had to provide my ID to send money back to (my own) UK account from the US but the never asked to see who it was being sent to.

[smile44 4]

Hmm when we used transferwise we did it online and it went from my account (UK) to his (US) account in three days, I don't recall ever having to prove my identity for that.

With Western Union I had to provide my ID to send money back to (my own) UK account from the US but the never asked to see who it was being sent to.

They have something on their website that says due to money laundering regulations, etc, ID and address verification may be required. I'll guess I'll find out soon enough if that applies to us. Thanks for your help!

[Pheebs1201 269]

You're welcome