CP
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Posts: 434
Registered: 7-19-2006
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Maximum $US deposit in Mexican bank without flagging?
I did a search as I remember reading about it..but did not find anything. I know when we built eight years ago it was $9,999.00 US. But then I
think it went down to 6 or 7 k and possibly something like 3k a few years ago?
When we used to have to show deposits to renew our visa I had no problemo keeping plenty of efectivo on hand but since we no longer have to do that I
find that I may want to do a lump transfer once a year (once to limit fees on both sides).
So, just asking if anyone knows what that maximum is today.
Muchas gracias
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Wally
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As far as I know the under $10k is still the regulation. Although, last spring we had a client wire $80 or 90k pesos into one of our accounts from a
Canadian bank and our bank called asking what it was for.
Got me thinking that there are flags and then there are FLAGS.
.
[Edited on 11-29-2012 by Wally]
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Alm
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AFAIK, there is no any kind of red tape, transfer 50K if you want. Banks simply make sure that, firstly, transfers are not for or from illegal
activity or money laundering, and secondly, you are not making any income that you might have to pay taxes for, in either country. They are quite
perfunctory in these "investigations", though. 10K has been a common "trigger" for years in many countries, though today I would expect them to raise
the limit, 10K isn't a big money anymore.
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RnR
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I believe that the "trigger" is still $10,000 USD.
Banks may question the transaction on their own to protect their customers but the real reason is the Federal law that requires any cash transaction
over $10,000 to be reported to the IRS.
And "cash" has many definitions. All you have to do is read the question for the Yes/No check box on your customs declaration form either going into
Mexico or returning to the US.
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unbob
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No limitz here!
Hey, you can deposit in my bank account any time with absolutely no limits on the amount - and I promise not to "flag" it! Go ahead and try it now!
Gracias amigos!
"I'm too young to be this old!"
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QUETZALCOATL
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Location: coming from or going to Baja
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Mood: nublado
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Off topic some but if you need to transfer more then 10,000USd into Mx put a black carbon paper in between each bill and those cameras at U.S border
cant detect it.
in otin ihuan in tonalin nican tzonquica-Aztec saying for \"here ends the roads and the days\"
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rdrrm8e
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| Quote: | Originally posted by QUETZALCOATL
Off topic some but if you need to transfer more then 10,000USd into Mx put a black carbon paper in between each bill and those cameras at U.S border
cant detect it. |
If you mean x-rays.......mmmmmmmm.......probably not
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Alm
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| Quote: | | If you mean x-rays.......mmmmmmmm.......probably not |
Yes, he meant - physically carrying cash across the border. I would rather not play any tricks. If it won't work I'll be in a big trouble. Besides,
the fact that the declaration requires you to report any cash over 10K, doesn't mean there is a law prohibiting you from bringing this cash.
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