Going to USA with over 10k

[anthonytt]

1 hour ago, OnMyWay said:

You are selling the Fortuner for dollars?  Open a dollar account here.  Do the vehicle transaction at the bank and put the dollars in the dollar account, for your safety.  That is way too much money to have outside the bank.  Then wire transfer the dollars to your U.S, dollar account.  There will be charges but no exchange rate.

That's what I'm going to find out tomorrow when I go to my bank here. Thanks!

[anthonytt]

55 minutes ago, robert k said:

I actually converted some pesos to dollars in Manila and got a decent rate, less than 1/2 piso off per dollar. You could send by WU to your bank. If you sell your car for USD and you had a USD account in a bank, possibly the bank could write you a cashiers check? Which you could deposit in the US and wait.

That's what I'm going to find out tomorrow when I go to my bank here. Thanks!

[chris49]

14 hours ago, anthonytt said:

That's a good idea, I'm going to the bank tomorrow to get the details. Since I now have my ACR card I can now open a Dollar account. They wouldn't let me without one. Thanks!!

The Western Union option might be better. You will get stuck with a minimum deposit of $500 to open a USD Acct. Of course you could immediately close it, but perhaps have a word with the bank manager about what is your intention.

A cashiers check in dollars comes with a hefty surcharge of around 2% and I would avoid that. It's not actually a cashiers check it's a demand draft, you might inquire but I suspect it's a loss of money doing it that way.

[anthonytt]

1 hour ago, chris49 said:

Sorry mate, I don't have experience with wire transfers or bank to bank. But I will wait for other replies.

A 2015 Forerunner might get you 1 milion ...just over $20, 000 USD. That's why I said spit the money between 2 parties and carry it.

What are the risks? Quite high if someone in the Philippines is aware you are carrying that amount of cash. Of course you know that. A few years ago there were armed robberies going on outside banks in Makati. There were tip offs about various clients and the amount of the transaction.

Thanks, I'm gonna try to wire the money to my US bank. Going to my bank tomorrow to ask . I have a decent rapport the bank manager at my bank.

[anthonytt]

1 minute ago, chris49 said:

The Western Union option might be better. You will get stuck with a minimum deposit of $500 to open a USD Acct. Of course you could immediately close it, but perhaps have a word with the bank manager about what is your intention.

A cashiers check in dollars comes with a hefty surcharge of around 2% and I would avoid that. It's not actually a cashiers check it's a demand draft, you might inquire but I suspect it's a loss of money doing it that way.

Don't know if you can send 20 grand Western Union. Would feel uncomfortable doing it too..

[Jollygoodfellow]

3 hours ago, anthonytt said:

I think I only need to report it when I fill out the customs form on the plans headed to USA?

Yes I think thats right but as others suggested might be better to move it another way.

PS moving this topic as its in the wrong forum. 

[earthdome]

5 hours ago, anthonytt said:

I'm selling my 2015 Toyota Fortuner and I want to bring that cash back to USA. Since it will be over 10k does anyone know what I need to show the customs officer in US when I check the box that says "are you bringing over 10k" ? Would a bill of sale from the Philippines be ok? Anyone have any knowledge on this or been through this? Im afraid they will take my money. Thanks, any help would be greatly appreciated! 

Here is a report from US Customs stating that in 2014 they seized (stole from travelers) more than $80 million dollars.

https://www.cbp.gov/newsroom/local-media-release/2015-11-12-000000/cbp-makes-cash-seizures

Note that when traveling a family or group traveling together can not have more than $10,000 combined between all of the group or family traveling.

I agree with others it would be best to open a USD account and use a wire transfer. 

[Jack Peterson]

 Putting a Lighter note on this! You gotta get out of the PI with over $10.000 First. Strange things happen at Airports. You will be surprised who will know you have that amount with you. 

Just saying. 

[anthonytt]

37 minutes ago, earthdome said:

Here is a report from US Customs stating that in 2014 they seized (stole from travelers) more than $80 million dollars.

https://www.cbp.gov/newsroom/local-media-release/2015-11-12-000000/cbp-makes-cash-seizures

Note that when traveling a family or group traveling together can not have more than $10,000 combined between all of the group or family traveling.

I agree with others it would be best to open a USD account and use a wire transfer. 

Yup, that's exactly what I'm going to do. Thank you.

[anthonytt]

33 minutes ago, Jack Peterson said:

 Putting a Lighter note on this! You gotta get out of the PI with over $10.000 First. Strange things happen at Airports. You will be surprised who will know you have that amount with you. 

Just saying. 

Haha....yup, I'm going to open a dollar account then wire it. Thanks Jack.