K1 Visa, Transfering money from Mexico to Fiance's bank account

[TexasGuy0101 75]

Hi and good evening or day to you,

My fiancée will be moving from Mexico to the United States, under her K1 visa in august.

We are struggling to understand the best way to transfer her money to the US. She will probably be receiving a retirement bonus from her company, and she will also be selling her car. We are maybe expecting $5,000 USD, maybe a max of about $10,000 USD.

 

Our question is this, what is the best way to transfer her money to my bank account?

Once she arrives to the US, I will add her to my bank account as a joint account. However my fiancée was informed by her bank that the US could seize the money during a money transfer, until we prove that the money belongs to her, and was obtained legally.

 

Thank you for any suggestions and information you may offer.

 

God bless and have a great rest of your day or evening.

[bakphx1 789]

Hmm for that amount, another option would be to use a credit card from Mexico in the US and then pay the credit card with the Mexican bank account.  In other words use the card and bank account while here as the card isn't treated as a cash transfer.  That's only if you don't need the money all at once. 

[debbiedoo 2,339]

maybe its different from mexico, but my canadian fiance transferred $50,000 via a regular wire transfer to my account when we bought our home last year and had zero issues.

 

if the amount is under $10,000 she can bring it as cash without issue, i believe.

 

but again, from mexico, maybe its different?

Edited July 1, 2018 by debbiedoo

[Alabamak1 688]

I wouldn't try to bring cash into the US even in the amount of $10000 and declaring it at POE. CBP has been seizing money for years and many people have to go to court and hiring lawyers and all for no result sometimes. Just do a little research and you will find this. Many stories not in the corporate news about this.

 

Banking is the only way you have, either western union or moneygram although they charge too much IMO.  

[Paul & Marina 53]

Go to your bank and speak with one of the bank officers. They can provide the best legal options.

[Chris Duffy 1,257]

Why would they question such a low amount?

 

Just do a bank to bank wire transfer, runs about $25 last time I did one.

 

I sent $25K to Philippines, No questions asked by anyone

[ItsSunny2Day 17]

All foreigners are permitted to physically bring in cash under 10k without declaration. Respectfully I doubt that she will be questioned about the cash she has in per possession, as its actually a small amount, and she is traveling under the K1 Visa, marrying and moving to the US. Just in case, she can carry with her the original bank statement and then withdrawal receipt to show CBP if she is asked for the source of the funds.

 

If her funds are in MXN and need to be converted to USD, you can:

 

- do a bank to bank wire transfer, with outbound and inbound fees totaling about 35-50 USD

- use a money transfer service like Western Union, Money Gram, or RIA Money Transfer*

- enroll her in Paypal or other service, connecting her bank account to it, using her Mexican bank account CLABE (18 digits) 

 

* Money transfer services collect both "transfer fees" and also make money on the actual conversion from one country currency to another. Transfer services also have limits on how much $ can be transferred per transaction. 

 

 

[TexasGuy0101 75]

7 hours ago, Alabamak1 said:

I wouldn't try to bring cash into the US even in the amount of $10000 and declaring it at POE. CBP has been seizing money for years and many people have to go to court and hiring lawyers and all for no result sometimes. Just do a little research and you will find this. Many stories not in the corporate news about this.

 

Banking is the only way you have, either western union or moneygram although they charge too much IMO.  

It appears that CBP is seizing money that is incorrectly declared. https://www.cbp.gov/newsroom/local-media-release/cbp-seizes-over-100k-travelers

Do you know of any cases where the declaration was correctly made, or if the funds being carried was under $10,000.00 USD, that was seized? 

 

Thank you.

[TexasGuy0101 75]

Seems like they are seizing money that is being structured: 

 

[JSWH 262]

7 hours ago, Alabamak1 said:

I wouldn't try to bring cash into the US even in the amount of $10000 and declaring it at POE. CBP has been seizing money for years and many people have to go to court and hiring lawyers and all for no result sometimes. Just do a little research and you will find this. Many stories not in the corporate news about this.

 

Banking is the only way you have, either western union or moneygram although they charge too much IMO.  

 

When I moved to the US,  I brought more than 10,000 in cash. I filled out a declaration and had no problems with CBP. They looked at my customs declaration form, stamped it, and that's about it.

Later, we had no problems depositing the money on our joint bank account either.

[Crazy Cat 41,881]

2 best options are:

A.  Bank wire

B.  Carry cash and declare it.

[Loren Y 2,755]

Just carry it across. I have bought and sold property in Mexico, and come back into the United States with well over 10000 dollars in cash without a problem as long as you declare it and have a reasonable explanation. If it is under 10,000 you don't have to say anything. I have previous posts on transferring money, and have come into the US with over 10,000 many times. You just explain it, and have some proof of where the money came from. I'm assuming the employer will issue a check or some sort of pay stub. And I'm sure there will be a record of the vehicle sale of some form or another, but even if you are a little over the 10,000 limit and declare it you shouldn't have any problems. I would be more concerned about carrying that type of cash in Mexico. I have done many wire transfers of over 10,000 into the US, and it is true it will raise a flag, but I doubt it will be a problem. All banks are required to report any international transfers over 10,000 to the feds, but unless your fiance is doing it on a regular basis, they are not going to care. I do it 4-5 times a year and have never had an issue. Now if your doing it weekly, they may be interested, but one transfer they are not going to think twice about. Just to be safe wire it. If you're really worried, just do 2 transfers under 10,000 each. But I would just wire transfer to the US account, you will have no issue. Most wire transfer services are limited on Mexico to the USA money transfers, so a bank may be the only wire option. Or if you feel safe enough just carry it across. Or maybe her current bank has a branch in the United States also. I primarily bank with Citibank here in the US and I know Banamex is a citigroup bank so I can deposit it in a Banamex account in Mexico and withdraw or transfer it to my US Citibank account with no problem( and no fees). But you may need to set that up beforehand.i know Bancomer, HSBC, Santander all have US based offices.

Edited July 1, 2018 by Loren Y

[Loren Y 2,755]

10 hours ago, Alabamak1 said:

I wouldn't try to bring cash into the US even in the amount of $10000 and declaring it at POE. CBP has been seizing money for years and many people have to go to court and hiring lawyers and all for no result sometimes. Just do a little research and you will find this. Many stories not in the corporate news about this.

 

Banking is the only way you have, either western union or moneygram although they charge too much IMO.  

Only one time about 3 years ago did I have money seized by CBP on my way back from Hong Kong. I had traveled over to sell a Higher end car and wasn't able to get all the customs paperwork completed before I had to leave, so I had no proof of where the 30,000 plus dollars cash I was carrying came from. I still declared it, and they did seize it yes, but all I had to do was a week later after I had the proof of sale from Hong Kong was to go back to CBP fill out one simple form and show proof of where the money had come from, and they handed it back to me no questions asked. It was all sealed nice and neat in an evidence bag with my name and everything on it. They had given me a receipt for it when I came thru, so it took about 20 minutes, and a trip to their office at LAX to get my money. I had a feeling they would seize it anyway, so I wasn't concerned. I actually had to declare it before I got to the inspection point, you know they have dogs that can smell large sums of cash. Thought it was funny as hell, the CBP dog " Hit " on me while coming down the line and I knew I didn't have any drugs on me, come to find out the dogs can smell money also, LOL, little did I know. I think I have had a few girlfriends that can smell money also!!! Not saying they were dogs or anything.... LOL.

[acajim 16]

I've received wire transfers and western union from Mexico. For the wire transfer, they ask in Mexico, when the person sends it, the name of the recipient, address, account number AND social security (yours). It goes to a bank, in my case, it went to a bank in New York, then it was transfer to my credit union in California after few days. I also received the western union, just got the tracking number, when to their office and get the cash. As some members have said, $10,000 is not a huge amount, but it could be at the time to convert it into dollars. Ask your fiancee to shop around and get the best exchange rate, a few pennies per dollar X 10,000 can make a big difference.

 

Good luck!

[Calicolom 266]

It is not the problem of transferring the money, the problem comes when you want to get it back out of the bank. In Colombia it is like pulling teeth, after you transfer your own money, from the US .