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| *Travel Tips>>>Korea Travel Tips |
What's the bast way to transfer a large sum of money ($10K+) from Korea to america? |
Travel Info My wife is a Korean citizen and she has a substantal amount of money in her account in Korea. She is traveling to Korea next month and she wants to bring the money back with her. So what's the best way, since I believe there are guidelines against carryig more than $10K in monetary instruments when traveling. Travel Tips do a bank transfer. Others She can bring the funds with her either in a bank instrument or in cash. She can also do a wire transfer to her U.S. bank account. Regardless of which transaction option chosen, funds in the amount of $10,000 or more, and sometimes amounts less, declaration forms are required to be filled out for customs. This is primarily due to RICO statutes and the governments desire to stem illegal activites. IF the funds are from legitimate saving and acquisition she will have no problems, just the inconvenience of filling out the forms. My personal recommendation is wire transfer half and do another a week later or carry half of it home with her. Another option is if she has an ATM card on the account, start drawing down the funds now and then bring the remainder of the funds later. |
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