Bringing in Money to US

[Cbaqir 0]

What's the best way for someone to bring in a large sum of money when they move here if a wire transfer is too expensive?

[andy78 178]

You can can carry cash, but how much you can carry depends on the laws/rules of the country you are travelling from. Also, you can do a cashier's check from your bank payable through a US bank.

If the total amount of items you are carrying is $10,000 or more, you need to declare them at US Customs at the airport after you arrive to the US.

Having done all this more than once, I can tell you that wire transfers are definitly the safest and quickest, so it might be worth it.

[aaron2020 11,651]

Coming from Iraq, you should be aware of the Patriots Act.

It would be best if you sent the money through a bank that complies with the Patriot Act.

The US is very weary of money coming from terrorist countries.

[Cathi 5,771]

Coming from Iraq, you should be aware of the Patriots Act.

It would be best if you sent the money through a bank that complies with the Patriot Act.

The US is very weary of money coming from terrorist countries.

OP you cannot merely bring or transfer large sums of money into the US, you must, as aaron stated, find a bank that complies with the Patriot act as you are from a T country. Read this and make sure you are in compliance. http://www.homelandsecurity-us.com/banking.html

You can can carry cash, but how much you can carry depends on the laws/rules of the country you are travelling from. Also, you can do a cashier's check from your bank payable through a US bank.

If the total amount of items you are carrying is $10,000 or more, you need to declare them at US Customs at the airport after you arrive to the US.

Having done all this more than once, I can tell you that wire transfers are definitly the safest and quickest, so it might be worth it.

this is not true for a T country

[Dave&Roza 748]

To wire money from the US to Kazakhstan is cost me $50 and the receiver $26, so I add an additional $26 to the amount to cover the transaction fee. To wire money from Kazakhstan to the US it is 1% of the amount with a minimum as we only did this once when we sold my wife's apartment. I think that is cheap as the bank does all the reporting to the US government and IRS. Bringing in cash requires you to report it on the Customs declaration form, if it is above a certain amount you also have to file the correct forms with the IRS, and in your situation you must be very certain you comply with the Patriot Act. Plus you have to make certain you do not get robbed, or if there is an issue with the airplane, God forbid, and the money goes up in smoke.or gets lost.

IMHO the cost of a wire transfer is worth it. If you want to carry cash to save a few dollars, I strongly suggest you read up on the Patriot Act, the CBP website about bringing cash into the country, and the IRS' website about receiving foreign money especially if you are already a LPR, or USC or going to become a LPR or USC sometime in the future.

Dave

[Cbaqir 0]

I'm told wire transfers often are scams in Iraq. Any ther options?

[Jojo92122 1,924]

I'm told wire transfers often are scams in Iraq. Any ther options?

There are plenty of state owned and private banks in Iraq capable of making wire transfer to the US. You will need to prove that the money came from a clean source.

Whoever told you the wire transfers often are scams is not using a real bank.

[KierenHby 899]

I'm told wire transfers often are scams in Iraq. Any ther options?

Reputable, nationalized banks are not scams. Your biggest hurdle would be proving the money is clean and complies with local tax laws.