Western union restrictions

P

potus

Active member
Dec 27, 2015
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Good day,

We will be receiving approx. 25K via WU. We can receive it in different intervals. Important is that the transaction is smooth and without delays or complications. I believe the max. permitted is 10K in one transaction. Is that correct.

As always, thatnk you for your valuable information.
 
D

Derfish

Gold
Jan 7, 2016
4,441
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10K is the limit one can carry physically entering a country without reporting it. W U would be able to tell you their max.
 
P

playacaribe2

Gold
Jan 9, 2004
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potus said:
Good day,

We will be receiving approx. 25K via WU. We can receive it in different intervals. Important is that the transaction is smooth and without delays or complications. I believe the max. permitted is 10K in one transaction. Is that correct.

As always, thatnk you for your valuable information.
Click to expand...

I am not sure if WU does wire transfers....as in bank to bank type transactions.

If not, there are limits (US) that can be sent every 30 days and they range from 1,000-2,999......and those limits are well under your 25k.

For that amount, a bank to bank wire is probably the safest and there are no limits....with a bank.


Respectfully,
Playacaribe2
 
M

Matilda

RIP Lindsay
Sep 13, 2006
5,485
338
63
I assume you mean dollars and not pesos? As much depends on the sender and their limit as the receiver so they will need to clear it with western union. You do not tend to have problems picking it up as long as the sender has crossed the t's and dotted the i's. I have had US$2,000 or a bit more at a time but if it is US$25,000 that may be more of an issue. Is there no other way you can send this ie via xoom or bank account transfer?

Matilda
 
C

Casino127

Member
Jan 13, 2012
232
15
18
The problem with western union is all wire transfert are very costly. Better use your own bank or with good friends or family
menbers for large amount.
 
CristoRey

CristoRey

Welcome To Wonderland
Apr 1, 2014
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With large amounts bank to bank wire transfers, if you have a Dominican
bank account, is your best option.
 
P

potus

Active member
Dec 27, 2015
549
90
28
Unfortunately we have to use WU in this case. So, the way I understand it is, if it is below 10K that I will be fine........
 
T

tmnyc

New member
Oct 19, 2006
334
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potus said:
Good day,

We will be receiving approx. 25K via WU. We can receive it in different intervals. Important is that the transaction is smooth and without delays or complications. I believe the max. permitted is 10K in one transaction. Is that correct.

As always, thatnk you for your valuable information.
Click to expand...

From US with credit/debit card to DR (Cash at DR agent location) The max is $4999 USD. Fee $75
From US Bank Account or WU Pay to DR (Cash at DR agent location) The max is $4999 USD. Fee $38

For $25k WU will only do bank account to bank account for $50 fee. Usually five business days.

The $10K declaration rule only applies when you are hand carrying at or above these amounts i.e. customs declaration forms.

Banking transactions of $10K or above are automatically reported by your financial institution via currency transaction
report (CTR) this is a report that U.S. financial institutions are required to file with FinCEN for each deposit, withdrawal, exchange of currency, or other payment or transfer, by, through, or to the financial institution which involves a transaction in currency of more than $10K.
 
P

potus

Active member
Dec 27, 2015
549
90
28
tmnyc said:
From US with credit/debit card to DR (Cash at DR agent location) The max is $4999 USD. Fee $75
From US Bank Account or WU Pay to DR (Cash at DR agent location) The max is $4999 USD. Fee $38

For $25k WU will only do bank account to bank account for $50 fee. Usually five business days.

The $10K declaration rule only applies when you are hand carrying at or above these amounts i.e. customs declaration forms.

Banking transactions of $10K or above are automatically reported by your financial institution via currency transaction
report (CTR) this is a report that U.S. financial institutions are required to file with FinCEN for each deposit, withdrawal, exchange of currency, or other payment or transfer, by, through, or to the financial institution which involves a transaction in currency of more than $10K.
Click to expand...



Thank you very much.......Could not ask for more.
 
T

tmnyc

New member
Oct 19, 2006
334
10
0
potus said:
Unfortunately we have to use WU in this case. So, the way I understand it is, if it is below 10K that I will be fine........
Click to expand...

You will be OK with your $25K as long as you can prove fund's source if required. It is NOT illegal to transfer large amounts as long as the funds are legit. The transferring institutions will automatically report the transfer to FinCEN. Breaking up a transaction involving a large amount of money into smaller transactions that are below the bank's reporting threshold will potentally expose you to additional scrutiny due to laundering and structuring laws.
 
M

MiamiDRGuy

Bronze
May 19, 2013
1,398
459
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In the future, please use XE Money Transfer, it's the best and it worked for me very well. Go to http://www.xe.com/xetrade/

It allows you to transfer $50,000 each transcation. XE is 50% cheaper than WU and they will give you better exchange rates than what you get in DR or anywhere.
 
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