Money Transfer

Kaz

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I have started a new thread as I need to transfer dollars to the UK. I am returning to the UK later this year but I need to find a way to tranfer the funds as cheaply as possible. Unfortunately I can't declare the funds as I had to donate my house to my son and daughter to enable me to sell it as I am a non-resident, so would have taken months and months for me to sell it in my name. So now this means that I cannot even take the cash with me and declare it at the airport as the house wasn't sold in my name. I would be hugely grateful for any advice, I am not talking a huge sum of money as I found a solution to get most of the money over there, but cannot get the remaining sent over via the same route.
 
you can take up to 10k usd cash with you on the plane
 
you can take up to 10k usd cash with you on the plane
Hi Nikad, yes, that is how I am managing to get some of it over, but there is still some that I need to sort out to transfer. Have looked into MoneyGram but their rates are absolutely outrageous, I could buy another flight ticket with what they charge.
 
Hi Nikad, yes, that is how I am managing to get some of it over, but there is still some that I need to sort out to transfer. Have looked into MoneyGram but their rates are absolutely outrageous, I could buy another flight ticket with what they charge.
If you donated the property to your kids just so you could sell it easier, maybe they can wire the proceeds of the sale using a local bank account. It is the cheapest and safest I think.
 
If you donated the property to your kids just so you could sell it easier, maybe they can wire the proceeds of the sale using a local bank account. It is the cheapest and safest I think.
Yes, but the thing is, the buyer didn't want to declare everything, so there is more cash than what was stated on the escritura, that is the problem I have. I wanted the whole amount to be on the escritura but the buyer didn't which is now causing problems for me.
 
Buy a prepaid credit card in Argentina, use it in the UK, and have your kids top it up for you periodically.
 
i don't know UK customs rules, but i believe in the US you can take more than 10k in, you just have to declare it. maybe you can do the same in the UK and just say it's proceeds from a house sale?
 
i don't know UK customs rules, but i believe in the US you can take more than 10k in, you just have to declare it. maybe you can do the same in the UK and just say it's proceeds from a house sale?

Because it is the UK and we are still in the EU the limit for undeclared cash movement is 10,000 Euros if that is any help. (https://www.gov.uk/bringing-cash-into-uk) It doesn't help that an individual would then be carrying more than USD10,000 out of Argentina, undeclared, with risks of confiscation or declared with risks of loss. The UK is very strict [1] about money laundering and would undoubtably want proof of the origin of any declared amounts.

[1]Strict with the "little people" carrying tens or hundreds of thousands but last week the UK Parliament effectively blocked legislation that would bring Britain's offshore tax havens into line with EU transparency laws. Some theorise that the whole Brexit shenanigan was whipped up by billionaires who don't want their offshore interests revealed and the HoC vote doesn't do much to dispel this.
 
You might want to try to find expats here ( if you have friends for example ) that need foreign currency in the country to transfer into your bank account abroad and you give them the money in here.
 
Because it is the UK and we are still in the EU the limit for undeclared cash movement is 10,000 Euros if that is any help. (https://www.gov.uk/bringing-cash-into-uk) It doesn't help that an individual would then be carrying more than USD10,000 out of Argentina, undeclared, with risks of confiscation or declared with risks of loss. The UK is very strict [1] about money laundering and would undoubtably want proof of the origin of any declared amounts.

[1]Strict with the "little people" carrying tens or hundreds of thousands but last week the UK Parliament effectively blocked legislation that would bring Britain's offshore tax havens into line with EU transparency laws. Some theorise that the whole Brexit shenanigan was whipped up by billionaires who don't want their offshore interests revealed and the HoC vote doesn't do much to dispel this.

right, but i'm saying why can't you just declare it entering the UK? if the OP sold a house why can't that just be the reason given to the UK to bring it in? they would have papers and such from this transaction if they asked questions.

obviously there is a risk in argentina to carry all of this out, especially if it is a large amount, but OP's saying it isn't a huge amount. i see no reason why taking say 30k would be an issue. hide it amongst a few bags to get out of argentina and declare it in the UK.
 
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