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Timinator
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Registered: 6-27-2014
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Bringing more than $10,000 into Mexico
Has anybody done this and filled out the form and turned in the form and declared the money they're bringing in?
We may be buying a house in Baja and need to bring in more than 10K. If you've done it and could describe how that goes, I'd appreciate it.
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pacificobob
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One thing to consider is to avoid publishing your intentions on the WWW.
Discreet inquiries to informed consultants is likely a better path.
Years ago I traveled with large amounts of cash...just well hidden.
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PaulW
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Most of us do not bring over 10k across the border.
Both countries have the 10k limit going south and officially or legally you need paperwork from both.
I suggest:
Write a check and let the seller deal with any rules.
In my experience the seller just heads north and cashes the check without declaring any thing.
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AKgringo
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Location: Anchorage, AK (no mas!)
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I would be happy to carry some of the cash for you! We could meet up somewhere north of the border, and for our mutual protection, I will be wearing
a mask. 
If you are not living on the edge, you are taking up too much space!
"Could do better if he tried!" Report card comments from most of my grade school teachers. Sadly, still true!
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pacificobob
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Quote: Originally posted by PaulW  | Most of us do not bring over 10k across the border.
Both countries have the 10k limit going south and officially or legally you need paperwork from both.
I suggest:
Write a check and let the seller deal with any rules.
In my experience the seller just heads north and cashes the check without declaring any thing. |
Good council. Checks from US banks clear in 7-10 days. I have paid for construction projects using checks from 'merica many times. No need for the
payee to "head north" to cash to check. I write checks to myself for deposit into a USD account several times a month. [$500 per check max of 2 per
day at bancomer]
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TSThornton
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I'd suggest that you use an escrow company to close and obtain title insurance to secure that you're getting good title. In addition to that
substantial benefit, you can just wire the closing funds to the escrow company.
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JZ
Select Nomad
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Registered: 10-3-2003
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| Quote: Originally posted by Timinator | Has anybody done this and filled out the form and turned in the form and declared the money they're bringing in?
We may be buying a house in Baja and need to bring in more than 10K. If you've done it and could describe how that goes, I'd appreciate it.
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Brought $25K once. There were 3 of us, so just split it between 3.
Spent it all in 3 days at Guadalajara buying furniture for a new house.
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bajatrailrider
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I would not take that amount of cash across border. I lived here long time my advice only
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Timinator
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Yea, thanks for the obvious suggestions. However, I'm looking for somebody who's filed the form and declared it, not escrow accounts, masks, hiding,
etc. What does declaring it do? Anybody?
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Bajazly
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Makes you a target?
Believing is religion - Knowing is science
Harald Pietschmann
"Get off the beaten path and memories, friends and new techniques are developed"
Bajazly, August 2019
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Lee
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Location: High in the Colorado Rockies
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For starters, declaring $10,000US or less, will allow you to keep your money. No problem.
Get caught with that money without declaring it and you may lose it. Applies to both directions. You'll have to prove where the money came from
then will be fined ($250-500?). If you can't prove it on the spot, you'll lose the money and getting it back will be a PITA!
Personally, I'd declare it.
Ever been searched crossing TJ South? I have. Car ('05 Honda CRV) x-rayed 3 times, everything unpacked, 2 bottles of wine and a 6-pack on
sidewalk photographed, an hour later I had to track down someone to leave. It sucked. Never going through there again.
No declare? Try Tecate. 2+ money belts. (Same with flying. Declare it!)
US Marines: providing enemies of America an opportunity to die for their country since 1775.
What I say before any important decision.
F*ck it.
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TMW
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Several years ago a friend and I went south to to do the No Wimp Trail. We went down Hwy 5 and at the military check at Gonzaga they searched his
vehicle and found $5,000+ under the drivers seat. It was from his business and he forgot he had it. He was suppose to take it to the bank for deposit
and forgot. They questioned him for a while then let him loose. When I found out about it I tried my best to talk him into going to Europe but he
refused.
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ligui
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Location: Fraser co.
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if you are buying a home. You need to purchase it thru a realestate company.
I would never buy property with cash . You need to have everything recorded through the Notario.
Cash is for tipping and taco stands
Times are a changing
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Alan
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With all of the pressure on CBP stop guns and money headed south there is a lot of scrutiny southbound now. I've seen officers on the pedestrian gates
as well as out in the southbound traffic lanes stopping and questioning people. My neighbor got stopped with about $8,000 he was carrying for Xmas
bonuses for his employees. He said he felt they knew exactly how much he was carrying before they even asked him. He swears the blue stripe on the
newer bills can be picked up by scanners. I have no idea, but I suppose its plausible.
In Memory of E-57
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RFClark
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If you are buying a house for cash it’s likely that the Hacienda isn’t getting it’s tax on the sale! What paperwork are you getting for the
purchase? Are you buying the land and the house or just the house and leasing the land? Do you have a 5 - 10 year lease in writing for the lot?
If you are buying both the land and the house a notary must be involved. The money you pay is held in trust until the paperwork is done, the taxes are
paid and everything is recorded. If a Fedocamiso for the land is required that also is done and recorded before the money is paid out of the escrow
account. Usually the payment to escrow is via wire transfer just as in the US.
Things (deals) that seem too good to be true usually are!
[Edited on 2-18-2022 by RFClark]
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Hook
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Looks like nobody on this board has really done it.
I cant imagine it won't red flag you with the US govt, in some form. But, hey, if you have nothing to hide, who cares?
When my wife and I moved to Mexico, we hid a few envelopes in personal items we were bringing down. Each had 5k.
About three years later, I was going through my fishing/boating shelf in the garage and came across one that we had forgotten about.  
Remember finding a 20 dollar bill in a topcoat that you hadn't worn in forever (back when 20 dollars was a lot of money!) ? This was exactly 250 times
more exciting than that!
At that point, when you can misplace 5k and not miss it, you sorta realize that you must be comfortably "set" in some fashion.
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RFClark
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Mood: Delighted with 2024 and looking forward to 2025
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Hook,
Why carry cash to Mexico when you can get a thousand US from the Bank Norte ATM each day? More if you have a couple of accounts!
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BajaParrothead
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Registered: 12-4-2012
Location: Portola, CA / Los Barriles
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From the initial purchase of our lot and through the next year of construction, 100% of the money was transferred via wire from my account to their
accounts. Super easy, no stress.
I know this wasn't your question, but it allowed me to avoid that very question.
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JZ
Select Nomad
Posts: 10562
Registered: 10-3-2003
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| Quote: Originally posted by Hook | Looks like nobody on this board has really done it.
I cant imagine it won't red flag you with the US govt, in some form. But, hey, if you have nothing to hide, who cares?
When my wife and I moved to Mexico, we hid a few envelopes in personal items we were bringing down. Each had 5k.
About three years later, I was going through my fishing/boating shelf in the garage and came across one that we had forgotten about.
Remember finding a 20 dollar bill in a topcoat that you hadn't worn in forever (back when 20 dollars was a lot of money!) ? This was exactly 250 times
more exciting than that!
At that point, when you can misplace 5k and not miss it, you sorta realize that you must be comfortably "set" in some fashion. |
I use to play pool a ton. Then stopped for about 6 months or so.
Got my cue out one day and found $180 in a little side pouch of the case. I can only surmise I was pretty drunk the last time I played.
I'd be worried if I forgot about $5K.
[Edited on 2-18-2022 by JZ]
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Hook
Elite Nomad
Posts: 9010
Registered: 3-13-2004
Location: Sonora
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Mood: Inquisitive
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| Quote: Originally posted by RFClark | Hook,
Why carry cash to Mexico when you can get a thousand US from the Bank Norte ATM each day? More if you have a couple of accounts!
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I cant get that amount from those ATMs.
And, besides, when we moved here, we were working with a contractor and building a house. That still wouldn't have been enough to keep us and the
contractor in cash.
At the time we moved down here, we had no idea that the contractor we eventually hired had a US bank account. He gladly accepted US personal checks.
So, we ended up re-patriating all those greenbacks.........but slowly, and not in hidden envelopes, this time.
This was 14 years ago. Much easier to take care of expenditures now. We even use credit cards at Walmart, Costco, Arco stations, etc. With the price
of gasoline now above 4.00/gallon down here, gas and diesel alone would be a burden.
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