Banking Taking Money out of Country

[WillyNext]

Does anyone know the best way to take money out of the country? Like more than the 10,000USD limit? How does the process work to declare that money at the airport? What about wire transfers?
Thanks for the help!

 

[TechNow]

Depends if you have the cash in pesos or USD.

 

[StarLucias]

It doesn't matter whether it's in dollars or pesos. The limit for undeclared cash brought into or out of the country is USD10,000 or its equivalent (in foreign currency, traveler's checks, gold or silver, etc.)

 

[WillyNext]

Why does it depend if it's pesos or dollars? It will probably be pesos though.

 

[TechNow]

Why does it depend if it's pesos or dollars? It will probably be pesos though.

It'll cost you about 6% to wire out dollars. It costs about 40% to wire pesos.

 

[TevorCC]

Wiring the funds is the safest and cheapest way. 1.5 - 2% is the normal fee.

 

[TechNow]

If you have a place that charges 1.5 - 2% to wire out (today, not 6 months ago), please do send me a PM with their details. I don't know anyone who wires out for less than 5%. And to get 5% you have to send a LOT.

 

[CremaIce]

If you have a place that charges 1.5 - 2% to wire out (today, not 6 months ago), please do send me a PM with their details. I don't know anyone who wires out for less than 5%. And to get 5% you have to send a LOT.

Didn't that banks here restricted to transfer money to account abroad as well?

 

[TechNow]

Didn't that banks here restricted to transfer money to account abroad as well?

No, the government restricted the transfer abroad. That's why people who can still do it are charging 5%+ to do it.

 

[earlyretirement]

No, the government restricted the transfer abroad. That's why people who can still do it are charging 5%+ to do it.

This is exactly correct. Most of the bigger ones are charging 6% as of last week. And the scary thing is locals are taking them up on that! Imagine paying 6% to just get your funds out of the country.

There are NO places only charging 1.5% to 2% as the other OP mentioned. Not for a while has it been that low.