# Bringing Money into the U.S.



## firesoul87 (Sep 7, 2010)

Hi everyone,

I was hoping I could get some help with bringing money into the U.S. My significant other is flying in from New Zealand in a couple weeks (yay!) and wants to bring money with him to convert over into about $1,000 USD. I know there are several options, but we would like to use the one that doesn't cost a lot of money and isn't complicated. I've tried to do a little research on traveler checks, but I still don't have a very good idea of how to go about obtaining/using them and if they're his best option.

What do you guys think would be best?

Thank you!


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## firesoul87 (Sep 7, 2010)

Does anyone have any insight? Thanks!


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## darkreign2409 (Jul 7, 2011)

The best way I've found to convert money is to just get it in the country you are going to. Its quick and easy with a good credit/debit card just be careful of any bank charges for withdrawing cash on a credit card.

The only other option I can think is buying American Express Travellers cheques before travelling, he'll need to cash them which is the only pain in the bum.


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## Bevdeforges (Nov 16, 2007)

$1000 is pretty much pocket money when it comes to bringing it into the US. Travellers checks are fine, but don't expect to spend them as travellers' checks - deposit them (or cash them) at a bank. Or use a credit card to simply take cash out of US bank machines. 

Depends a bit, too, on what you're planning on using the money for. But until you hit $10,000 there is no real problem bringing money into the US. At the $10,000 point it has to be declared (usually along with the source and the purpose) but that's really only a technicality.
Cheers,
Bev


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## firesoul87 (Sep 7, 2010)

Thank you for the advice! I am still a little unsure on which method is the most cost effective. It sounds like on top of an exchange rate, there are also fees to worry about. I think he would be fine with using traveler checks if they incur the smallest fees to use. Do you know which method has the highest return? :bounce:


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## jessical (Sep 10, 2011)

firesoul87 said:


> Thank you for the advice! I am still a little unsure on which method is the most cost effective. It sounds like on top of an exchange rate, there are also fees to worry about. I think he would be fine with using traveler checks if they incur the smallest fees to use. Do you know which method has the highest return? :bounce:



the exchange rate is usually worse if you don't pay the fee, and it's better if you do pay the fee, so it kind of evens out. i would go somewhere you trust in your home country before you come over!


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## Crawford (Jan 23, 2011)

firesoul87 said:


> Hi everyone,
> 
> I was hoping I could get some help with bringing money into the U.S. My significant other is flying in from New Zealand in a couple weeks (yay!) and wants to bring money with him to convert over into about $1,000 USD. I know there are several options, but we would like to use the one that doesn't cost a lot of money and isn't complicated. I've tried to do a little research on traveler checks, but I still don't have a very good idea of how to go about obtaining/using them and if they're his best option.
> 
> ...


Why don't you just bring the cash over either in dollars or NZ currency. The customs guys are not going to question such a small amount - that's only three nights stay in a Los Angeles hotel !!


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## Whitby (Jun 20, 2011)

Sorry to hijack this but what do you have to do when you go above $10,000? Presumably if you transfer it from UK bank account to US bank account using the IBAN the US bank just declares it as part of its standard anti-money laundering checks?

If you were bringing it in as hard currency I imagine you'd have to declare it to customs at the Port of Entry (doesn't the immigration questionnaire have something about detailing the cash you have with you?) but if just wired across then does the recipient bank take care of it?


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## tcscivic12 (Jul 2, 2008)

Whitby said:


> Sorry to hijack this but what do you have to do when you go above $10,000? Presumably if you transfer it from UK bank account to US bank account using the IBAN the US bank just declares it as part of its standard anti-money laundering checks?
> 
> If you were bringing it in as hard currency I imagine you'd have to declare it to customs at the Port of Entry (doesn't the immigration questionnaire have something about detailing the cash you have with you?) but if just wired across then does the recipient bank take care of it?


Regardless the money would have to be declared even if it is wired.


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## Whitby (Jun 20, 2011)

Thanks. How does one go about doing this practically? I assumed ("ass out of u and me", I know) the recipient bank declared it as part of its KYC checks? And if it did, that would fulfil your obligations too? :confused2:


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## Bevdeforges (Nov 16, 2007)

Whitby said:


> Thanks. How does one go about doing this practically? I assumed ("ass out of u and me", I know) the recipient bank declared it as part of its KYC checks? And if it did, that would fulfil your obligations too? :confused2:


When you wire money between countries, the bank you use to initiate the wire is supposed to ask you the source of and the intended use of the money as part of the transaction - so that they can do the notifications to the appropriate officials. So yes, it's actually the banks that do the declarations in the case of a wire transfer between banks.

If you are carrying $10,000 or more of "financial instruments" when you enter the country, you need to declare it on your entry card at customs, and they will have you fill out the appropriate forms before they let you out of the customs clearance area on arrival.
Cheers,
Bev


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