Transferring money to the US from Australia

[mister83]

Hi Guys,

I need input from someone who have had recent experience in transferring money (somewhere in the vicinity of $150K) to a bank in the US from Australia. This amount is for purchasing a property in the US.

I was wondering what are some of the best options out there are in terms of great exchange rates, low fees, etc. Also, Do I need to notify any government authorities in Australia/US?

Thanks

 

[Glen48]

Is that A property or several 150 large should get you a few.

 

[McLovin]

Also, Do I need to notify any government authorities in Australia/US?

Thanks

IANAL, but I believe a W-8BEN is your friend.

http://www.irs.gov/pub/irs-pdf/fw8ben.pdf

Regarding FX rates, I use World First, never had a problem and they seem cheap enough. Certainly far cheaper than a bank!

 

[bellenuit]

Hi Guys,

I need input from someone who have had recent experience in transferring money (somewhere in the vicinity of $150K) to a bank in the US from Australia. This amount is for purchasing a property in the US.

I was wondering what are some of the best options out there are in terms of great exchange rates, low fees, etc. Also, Do I need to notify any government authorities in Australia/US?

Thanks

As this is over $10K, who ever you use to do the transfer will have to report it to the government. I don't know which department. But it is done to try and detect money laundering. So make sure everything is done legit.

 

[Dowdy]

Well, when I transfer money to purchase stock from China, I use OzForex. No fee over a certain amount and great exchange rates.

When you're looking at money as big as yours a good exchange rate will save you thousands.

 

[Tyler Durden]

Any transaction over $10,000 will trigger the attention of the authorities.

 

[sptrawler]

Hi Guys,

I need input from someone who have had recent experience in transferring money (somewhere in the vicinity of $150K) to a bank in the US from Australia. This amount is for purchasing a property in the US.

I was wondering what are some of the best options out there are in terms of great exchange rates, low fees, etc. Also, Do I need to notify any government authorities in Australia/US?

Thanks

Purchase the property on your visa card think of the ff points.

 

[prawn_86]

I work for an FX Broker so can get you good exchange rates with low fees. Feel free to PM me

 

[Dowdy]

Any transaction over $10,000 will trigger the attention of the authorities.

Jezz, you make it sound like they'll come knocking on your door ready to ask questions.


If it's declared on your tax then it's not even a worry

 

[Glen48]

The Yanks have dogs at the airport trained to sniff out $ notes.