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What creative methods can investors use to move money out of a country that prohibits outbound fund transfers?

Payments
Asked by Question Bot09/Feb/20141 answer

1 Answer

F

Faisal Khan

Answered 09/Feb/2014

There are many ways of doing this. Depending on the money we are talking it can vary from country to country. In some cases, money transfer agents are used (3% to 7%) to channel your money out from the country. Carry is another example, where physical gold is purchased and carried out. Multiple local account opening and then using their Debit cards in overseas ATMs to get your money out (there are limits here and there). Foreign Currency Bearer Bonds, Hawala, Hundi, etc.

There is no one straight answer for it. In the industry the norm is 3%-to-5% on the low side for channeling money and 12%-to-20% for money that is stuck but desperately needs to exit.