Please give ideas on carrying/transferring money internationally

[glocktop]

If you were going to have a HT in Europe that cost more than $10,000 USD and payment in cash-only was required on day of the op, how would you get the money there? Has anybody here carried or transferred similar amounts from the US to another country?

 

And if carrying physical cash, when and where in the process is the cheapest and safest way to convert to euros?

[kamalmalik]

which country will you travel to? that's a lot of money to carry on you. there are some limits you know.

[glocktop]

Spain. Agreed, it is a lot. But that seems to be European clinics want to do businesss. In cash.

[GoForIt]

Spain. Agreed, it is a lot. But that seems to be European clinics want to do businesss. In cash.

 

There is always a wire transfer or a traveler's check.

 

Then there is always the suitcase full of small bills route . . . :rolleyes: (NOT A GOOD IDEA!).

 

There are legitimate reasons to prefer cash (no fees), but then there is also the issue of them not reporting the income and dodging taxes.

[glocktop]

How do travelors checks work? Do i write the check to myself, then cash it at a bank in Spain?

[hairweare]

It has been many years since I have used them but I recall buying Amex checks at a bank for a nominal fee but I would call Amex directly to inquire as getting them direct may be the cheaper option. You don't need to have a designee since they work the same as cash. The difference is that the numbers are registered and Amex covers you if they are lost or stolen. I paid by credit card in Manchester the clinic tacked on a 3% fee on top of what the CC charged. Since my balance is relatively small for my upcoming procedure I plan on withdrawing Euros by ATM and have asked my bank to raise my daily limit from 1000USD to 2000USD. I would agree that tax and fee issues are the reason clinics accept only cash.

[KO]

So basically, this is illegal? They are looking for payment in cash to avoid tax...sounds like tax evasion?

[hairweare]

Just like in the US, dealing in cash is not illegal but it is the responsibility of the recipient to pay the taxes owed. The IRS computers are good at catching those who claim less than they actually make.