# Transferring Money to the US (to myself)



## averroes (Oct 23, 2011)

So I am moving back to the US, but closed my bank account with Chase years ago. How is it possible for me to transfer large sums of money to the US to myself? What service can I use?

I have reported on my taxes and have reported my foreign back accounts as well. Will this amount be taxed? I have filed for the foreign income exclusion using form 2555-ez.


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## Bevdeforges (Nov 16, 2007)

Keep your foreign bank accounts open until you have arrived in the US and have had a chance to open a new account. Then, transfer the balances from your foreign accounts to the new US one(s).

You won't pay US taxes on a transfer of capital (i.e. transfer of the balance of your overseas account to your US account). 
Cheers,
Bev


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## averroes (Oct 23, 2011)

Yeah that is a practical solution. I did speak with my contact at my bank and she was concerned that if the transaction does not go through, then I would be locked out of my own account! Her response did not sound very reassuring so I brushed it off as a last resort type of solution...


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## ForeignBody (Oct 20, 2011)

Don't use your bank to make the transfer. Use a money transfer service and you will get a much better exchange rate. xe.com, transferwise and TorFx are just some. I use TorFx and have been pleased with their service.


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