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Hello,

I will have to transfer a lot of money (let's say 100K plus) from Germany to US. For smaller amounts I used my Service Credit Union bank.
Does anyone know a good (of course legal) way to transfer large amount of money?

I was thinking if putting it into an investment fond in Germany and taking it out in US would be a good way (legal??).

Thanks for your help!
 

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Hello,

I will have to transfer a lot of money (let's say 100K plus) from Germany to US. For smaller amounts I used my Service Credit Union bank.
Does anyone know a good (of course legal) way to transfer large amount of money?

I was thinking if putting it into an investment fond in Germany and taking it out in US would be a good way (legal??).

Thanks for your help!
Hi, I asked by bank in France to transfer USD to my US bank. I just gave the reason i.e. buying a house. There were no questions after that. Same for Germany I guess.
Good luck.
 

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Your best bet may be to work with an FX company - they tend to give the best rates and can probably avoid your having to pay bank fees on either or both ends of the transaction. I've found this comparison site for FX transfers: Best Way to Send Money Abroad to UK, Europe, USA, Australia, Singapore, UAE & More They list all the most popular FX companies I've ever heard of and give the advantages and disadvantages of each one.

Don't necessarily go with the one rated #1, since the fees and services offered do vary, depending on which countries you're working with, which direction your transfer goes and how often you think you may want to make similar (or larger or smaller) transfers. Take a look and see which one(s) meet your needs the best.
Cheers,
Bev
 

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Transferring large sums of money to a USA account can raise red flags with our government. When more then $10,000 is deposited into a USA account the bank is required to report that to the government. They may start an investigation into where the money came from and from what source. They look for drug related money here.

If it is $100,000 or more you might want to pay an attorney a small fee to handle that amount. It could save you a lot of headaches in the future from the government.

art
 

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All transfers of $10,000 or more are subject to reporting - usually handled by the transfer agent on a routine basis. If you get an attorney involved, you're only making yourself look guilty of "something." The forms you fill out for a transfer over $10,000 should ask you for the purpose of the transfer and/or the source of the funds. Transferring the proceeds from the sale of property is a stock standard reason for making a large transfer.
Cheers,
Bev
 

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Transferring large sums of money to a USA account can raise red flags with our government. When more then $10,000 is deposited into a USA account the bank is required to report that to the government. They may start an investigation into where the money came from and from what source. They look for drug related money here.

If it is $100,000 or more you might want to pay an attorney a small fee to handle that amount. It could save you a lot of headaches in the future from the government.

art
A bit of paranoia?
AML or Patriot Act has been around for a couple of years. Read up on how the 10k get calculated.
 

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Yes, I agree with twostep. FYI Wire transfer is much easier and quicker. The hold on physical checks can be frustrating. I have gone to almost exclusive wire transfers.
 
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