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    FrankHelsell's Avatar
    FrankHelsell Posts: 3, Reputation: 1
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    #1

    Dec 26, 2011, 10:11 AM
    Large transfers from foreign accounts to the USA?
    If one were to transfer 500,000GBP from an account in the UK to an account in the USA, would such a large transfer be allowed and would there by any fees involved?
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Dec 26, 2011, 10:24 AM
    Quote Originally Posted by FrankHelsell View Post
    If one were to transfer 500,000GBP from an account in the UK to an account in the USA, would such a large transfer be allowed and would there by any fees involved?

    What kind of fees? Bank fees, taxes, something else?

    Are you a US citizen and where did the money come from? An estate? Sale of property or business?
    FrankHelsell's Avatar
    FrankHelsell Posts: 3, Reputation: 1
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    #3

    Dec 26, 2011, 10:28 AM
    They came from a winning the British National Lottery. Would the US government impose any fee to allow a transfer so large besides tax?
    FrankHelsell's Avatar
    FrankHelsell Posts: 3, Reputation: 1
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    #4

    Dec 26, 2011, 10:31 AM
    I am a US citizen. The money came from the British National Lottery. Would the US government charge anything for such a large transfer besides tax?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #5

    Dec 26, 2011, 11:31 AM
    If you won the lottery, you would owe income taxes to the IRS, but they would deal with you directly.

    If you win a lottery you pay nothing to get the money. Next you can get a international bank and merely have it deposited in the UK.

    I am sorry but unless you were buying tickets, the lottery fraud, while not the largest fraud, is still a popular one.
    They send you a email ( well they send out 100s of thousands of emails) and then tell you that you have to pay them a fee to get your money.

    If you really won, you hire a attorney in the UK to handle all of this for you.
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