How much personal money to bring to us on a k1 visa

[Successful Pinky 12]

5 minutes ago, missileman said:

I would just set up easy access and wiring capability from your home country financial institution.  Then, you don't have to bring a specific mount of cash to cover your time unemployed here.

Ooh.. thank you for the nicest advice.. i will do this..thanks a lot..

[Unidentified 2,930]

10 hours ago, TNJ17 said:

All of your money? If you’re moving why would you leave any behind?!? 

I came here with about $20 in my wallet. Everything else was in a bank account I kept until they made it impossible for me to keep it. It was nice to have a Swedish bank account for when we were in Sweden and could avoid awful fees on our American cards. 

[Unidentified 2,930]

3 hours ago, p-ana said:

It’s understandable to leave SOME behind if there are commitments such as you mentioned. If not, you’re moving your life to the states, I don’t see why not move all your money with you. 

 

Have money in a local currency when you travel back for vacation instead of having to pay a bunch of fees using your American cards?

[Orangesapples 1,954]

2 hours ago, Unidentified said:

Have money in a local currency when you travel back for vacation instead of having to pay a bunch of fees using your American cards?

That's why I only have credit cards with no international transaction fee! 

 

But I agree it makes sense to keep some of your money in your home country, especially if you're planning two move back there one day

[p-ana 933]

2 hours ago, Unidentified said:

Have money in a local currency when you travel back for vacation instead of having to pay a bunch of fees using your American cards?

Ehhh... still not feasible if it’s not a recurring commitment that needs several payments a year.

If you’re just vacationing, better to exchange cash whenever you get there. 

But oh well, it’s a personal choice, I understand if that’s what works for you but wanted to give my opinion on the contrary for the OP

 

[Rocko20 159]

Personal cash? $0. That’s what you sponsor is for  (obviously have your sponsor send you money for travel before you fly)

 

as far a foreign accounts, if it accessed electronically then what difference does it make? My bank (USAA) doesn’t even have a location where I live

Edited July 29, 2018 by Rocko20

[AshMarty 360]

18 hours ago, geowrian said:

My wife has funds from her non-US accounts still. She has certain obligations (family, a retirement policy, etc.) that requires having money in her native currency. Why pay an agent to convert the funds to USD then back again (well, unless you think you will earn more than the fees due to changes in exchange rates).

My husband still has multiple accounts, in his home country as well. He still has a house in his home country, bank accounts, and retirement funds as well.

 

We loss money bringing it over now. So we are happy leaving some investments overseas for the time being. 

 

OP: You and your future spouse will have to talk and figure out what your monthly finances are, everyone's budget is completely different. I would plan to live on one income for approx 5-7 months. That seems to be the time frame to get a work EAD before you can add a second income  My husband came with minimal cash on hand and set up an account he could transfer money to as needed when he got here. 

Edited July 29, 2018 by AshMarty

[Loren Y 2,753]

19 hours ago, janet3 said:

Because if you travel with over $9999 you will be scrutinized and asked a lot of questions about why you are traveling with $10000 in cash. It’s a question on the Customs Declaration Form.

I routinely come back to the US with over 10,000 in cash, and it has been no problem. From sales of cars, to property I have done it so many times I have copies of the form you need to fill out on me. It is a simple 1 page form that basically just asks for the amount, and an simple explanation of where you got the money. ( Closing out bank account, Moving to USA, sold a vehicle, property sale, etc.) One time in Macau I hit a jackpot in the casino before I left and was paid out over 10,000 and had no choice but to leave with the cash on my flight, I wrote on the form won money at the casino, CBP was a little suspicious of this, but I showed them the payout receipt from the casino cashier cage and no problems. I'm sure as long as you don't put" sale of narcotics," or " money for funding of domestic terrorism", they don't care how much you bring. Hmmmm, did I ever claim that on my taxes? LOL

Edited July 29, 2018 by Loren Y

[geowrian 22,337]

4 hours ago, Loren Y said:

I'm sure as long as you don't put" sale of narcotics," or " money for funding of domestic terrorism", they don't care how much you bring.

Generally, yes, but there are cases where they have confiscated the funds until you can satisfy them that they were obtained legally.

[Loren Y 2,753]

16 minutes ago, geowrian said:

Generally, yes, but there are cases where they have confiscated the funds until you can satisfy them that they were obtained legally.

Yep, Had this happen about 5 years ago when I came back with over 32,000.00 from the sale of a car I exported to Hong Kong. Did the sale, but had to leave before all the import paperwork and everything was processed. I declared the money of course, but didn't have too much to show where money came from at that time. They counted the money, put it in a sealed evidence bag, and gave me a receipt for it. after I got all the paperwork Fed-ex over to me I went to their office at LAX, filled out a form, showed my proof of where money came from, They made a few photocopies of the paperwork, handed me the evidence bag, I signed for it, and was on my way.

[TNJ17 1,329]

14 hours ago, Unidentified said:

I came here with about $20 in my wallet. Everything else was in a bank account I kept until they made it impossible for me to keep it. It was nice to have a Swedish bank account for when we were in Sweden and could avoid awful fees on our American cards. 

No way. The fees you pay to keep the account online are too much hassle. I’d rather pay exchange fees once in a blue moon. 

[Unidentified 2,930]

9 hours ago, TNJ17 said:

No way. The fees you pay to keep the account online are too much hassle. I’d rather pay exchange fees once in a blue moon. 

Yeah, this is why I eventually ended up closing the account. It was nice to have for sending and receiving money to family but it was just too much of a hassle. 

[janet3 1,170]

On 7/29/2018 at 4:58 PM, Loren Y said:

I routinely come back to the US with over 10,000 in cash, and it has been no problem. From sales of cars, to property I have done it so many times I have copies of the form you need to fill out on me. It is a simple 1 page form that basically just asks for the amount, and an simple explanation of where you got the money. ( Closing out bank account, Moving to USA, sold a vehicle, property sale, etc.) One time in Macau I hit a jackpot in the casino before I left and was paid out over 10,000 and had no choice but to leave with the cash on my flight, I wrote on the form won money at the casino, CBP was a little suspicious of this, but I showed them the payout receipt from the casino cashier cage and no problems. I'm sure as long as you don't put" sale of narcotics," or " money for funding of domestic terrorism", they don't care how much you bring. Hmmmm, did I ever claim that on my taxes? LOL

I absolutely agree....10 grand is not that much in the US anymore.....especially with the paperwork of a sale of something expensive. And don’t get me wrong... I would appreciate a jack pot win from Macau....and would definitely declare it...

But...,

My husband is from Algeria.....getting US dollars means a trip to the bank to order money (no more than $300 at a time). So yes, it is my belief, if my Algerian fiance came to the US border with 10 grand he would be scrutinized. 

[Loren Y 2,753]

38 minutes ago, janet3 said:

I absolutely agree....10 grand is not that much in the US anymore.....especially with the paperwork of a sale of something expensive. And don’t get me wrong... I would appreciate a jack pot win from Macau....and would definitely declare it...

But...,

My husband is from Algeria.....getting US dollars means a trip to the bank to order money (no more than $300 at a time). So yes, it is my belief, if my Algerian fiance came to the US border with 10 grand he would be scrutinized. 

It's a 10000 dollar limit on negotiable currency. If us dollars are hard to get, he can travel with local currency up to 10000 US dollars in value. Of course you might lose any gains when you convert to USD here in the US. Another option is gold. I brought back around 10000 in gold bullion from Dubai for a friend's jewelry store, he does custom work, and gold is actually cheaper to buy in Dubai because it is not taxed there. You can actually buy it at a ATM machine, and the USD is pegged to the dubai currency so you don't really lose anything when converting USD to dubai currency. Maybe he could convert his currency to gold and come thru with that. Gold is the same price world wide, it is the "gold standard" that just about every countries currency is based on. The gold you buy in Algeria is the same value as gold here in the US. But if they limit your purchase of US dollars, they probably limit your gold purchase also. Looks like your best bet is an international transfer, just shop around for the best rate. It should not be too much to send the money via a wire transfer if you aren't sending too much. Just remember that any wire transfer over 10000 USD is flagged for review when coming into the US. Maybe transfer just enough to get set up at a bank here, and I have Citibank gold and they allow fee free international transfers, and give a decent rate on currency exchange. Maybe they have a bank in Algeria that is partners with a US bank, then you could open an account here at their bank and transfer for free that way. If your not transferring a ton of money, just pay the 30-40 bucks ( maybe less) and do a wire transfer and keep it simple.

Edited July 31, 2018 by Loren Y