I have a lot of cash in my local savings account that I would like to transfer to my account in the U.S. We've tried several times to do a wire transfer but the local bank's form does not allow for more than one beneficiary (the money has to go to first one bank, then another, then to my account). I've looked into getting a bank check and having it sent by FedEx, which is going to cost about $50. Anyone know another reliable way to do this?
Also, I don't want to raise any red flags to the IRS or ICE that I'm laundering money or something; is there a limit on how much I can send at one time (I'm guessing <$10,000), and how many similar deposits I can make in one year?
Best way to send money to U.S.
It depends where you are. While living in Western Europe I found it easiest to open a paypal account in the local currency. I was able to link my local bank account and my US bank account, so whenever I transferred money I just deposited the money into my paypal account from my local bank then a couple days later withdrew the money from paypal and deposited it to my US bank account. Avoided wire transfer fees and it didn't raise any flags even when I tried to refinance a mortgage and they reviewed my bank history.
I am currently in China and have a monthly transfer set up between my Chinese account and US account. A don't know much about limits, but I have not had a problem in 7+ years overseas.
I am currently in China and have a monthly transfer set up between my Chinese account and US account. A don't know much about limits, but I have not had a problem in 7+ years overseas.
I also live in China and for some reason the wire transfer fees are twice as much here as anywhere else I've been. Here's what I do. My non-teaching spouse opens an account at the same bank as I have an account. I send her card to my parents in the US and I just deposit whatever amount I want into her account. My parents then withdraw money using her card and deposit it into my US bank account. There is a transaction fee but it's not much, especially compared to wire transfer fees. I suppose it doesn't have to be the same Chinese bank, but it makes it a bit easier. I did the same exact thing when I was working in Thailand.
Sending money from the UAE and Qatar is VERY easy. There are loads of money transfer places and the rates are good.
Sending money from China was hard when I was there. It's quite a long time ago since I was there and it sounds easier now, but the way I used to do it for sending about 500 USD every month for the sake of paying my credit card bills, was that I just sent one of my ATM cards to my mum. She would take money out and pay my bills at the bank. I got a very good exchange rate and paid relatively little in bank charges.
Sending money from China was hard when I was there. It's quite a long time ago since I was there and it sounds easier now, but the way I used to do it for sending about 500 USD every month for the sake of paying my credit card bills, was that I just sent one of my ATM cards to my mum. She would take money out and pay my bills at the bank. I got a very good exchange rate and paid relatively little in bank charges.