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    seeker4ever's Avatar
    seeker4ever Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 24, 2009, 02:29 PM
    Transferring Money from US to UK
    Hi,

    My sister is in some urgent need in the UK and I want to transfer money from US to her. Are there any legal implications? Is there a limit on money that I can transfer to her?

    All transfer would be through SWIFT

    Thanks for your help.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #2

    Jan 25, 2009, 04:10 AM
    Hello s:

    No, there are no restrictions, legal implications, or limits. This, of course, assuming the money is legal and all taxes due have been paid.

    excon
    cdad's Avatar
    cdad Posts: 12,700, Reputation: 1438
    Internet Research Expert
    		  
    #3

    Jan 25, 2009, 07:31 PM

    Depends on how much your sending by wire or other electronic means. The cap is around 12,000. If your sending a substantial amount then I would document everything so there is no question of illegal activities.
    Before sending ask the institution if there is any limits or red flags.
    lawanwadee's Avatar
    lawanwadee Posts: 3,653, Reputation: 124
    Immigration Expert
    		  
    #4

    Jan 25, 2009, 10:25 PM
    Quote Originally Posted by seeker4ever View Post
    Hi,

    My sister is in some urgent need in the UK and I want to transfer money from US to her. Are there any legal implications? Is there a limit on money that I can transfer to her?

    All transfer would be through SWIFT

    Thanks for your help.
    Make sure each transaction is less than $10,000 so it won't required inspection by the fed...
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #5

    Jan 26, 2009, 05:57 AM
    Hello again, s:

    The United States has a REPORTING limit involving transactions of $10,000 or more in CASH. CASH is the key because drug dealers launder their CASH, and it's drug dealers that they want to catch - not YOU. If you're sending money that is already IN a bank account, then you have NOTHING to fear.

    It's a REPORTING limit too - not a MONEY limit. Therefore, you can send jillions and even another jillion as long as the taxes have been paid on it.

    excon
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