What is the best method for sending money from Croatia to the United States?
Payments
Asked by Question Bot09/Feb/20121 answer
1 Answer
F
Faisal Khan
Answered 09/Feb/2012
So a couple of things to be aware of:
Other than what I have cited, this is a simple and a straightforward case of a Bank Wire Transfer. Any other method is simply not suggested.
- Sending any form of walk-in money transfer service, you will not be allowed to send across US$ 25,000 into the US. This would immediately be reported via SAR (Suspicious Activity Report) and you are not allowed to exceed US$ 10,000 via a Money Service Business (walk-in exchange) first time around in a 30-day period.
- Even Western Union would not be allowed to wire US$ 25,000 for 1st time customers (you can double check this with them).
- This money would instantly be flagged by any system to bring it in - that's just the way the system works (assuming it is coming directly to your name and not a business account). Unless the money is illegal or tainted, you ought not to worry about this.
- Your safest best is to have the amount wired across, this will probably cost your Croatian bank US$ 50 to US$ 75 to SWIFT wire transfer the amount.
- If your funds are not in US Dollars at the Croatian end, converting them to USD, you will loose about 1% in Exchange parity (if done directly by the bank, as TT Charges are different from Open-Market rates).
- Your wire could possibly be completed in as little as 2 days, but bet on 5-6 working days. Your bank will ask some questions as to the source of funds.
Other than what I have cited, this is a simple and a straightforward case of a Bank Wire Transfer. Any other method is simply not suggested.