What is the rule about the over $10,000

Stodgord said:

Hello everyone,

I have been researching the rules about declaring any amount over $10,000 on your person when flying to the DR. Does anyone knows the Dominican and US rules. What if I take over 10K and declare it. Do I have to pay a fee? Please let me know.

Thanks,

Stodgord

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Use your ATM card, save the hassle?

Would I tell people at the DR airports I am bringing in anywhere near, or over, 10K USD? Only if I want it stolen.

jerryme said:

Would I tell people at the DR airports I am bringing in anywhere near, or over, 10K USD? Only if I want it stolen.

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Exactly. Plus, if they somehow find out you have it and don't declare you may legally lose it. The best thing is not to bring that much cash.

HEy guys don't even worry about reporting over 10,000 mannnnnnnnnn they not even check the declaration paper they never do!

Well, never did it to the DR but once to the us. I travelled with $ 38.000 and got picked out at the airport. Atlanta, which is thge training centre for the customs. I didnt know of course.

I told them I had more then $10.000 on me when they asked. I had to go into a office to count it out for them. When they found out I also had $180 in my wallet hell broke loose.

They told me I was lying on a aplication form were I of course only mentioned the $38.000. The $180 was just travel money.

To make a long story short: I spent a month in acdc jail for them to find out were the money came from and have never seen it back.

If you look for the biggest criminals in the world, stop looking. Its the us government. :bandit:

I would be very carefull with travelling with big amounts of cash. Its better to spiltt it up and take some friends for a holiday, travel a few times yourself with smaller amounts or use a company like Western Union.

Werner-Its most unfortunate that you spent time in jail over your own money. However, it is rather suspect why anyone would travel with that much money, especially in this age of wire transfers, online computing and global ATM networks. I have had several things stolen while ON airport property...even in Atlanta. I would not risk my hard-earned cash to theft. There are many pro's out there who's 9-to-5 is at the airport waiting for you to look around or read the newspaper.

I have a freind who works in the jewelry/diamond buiness. Really high-end stuff. They travel to different stores around the globe. Its kinda funny when I talk to him as he never knows where he's going, only told to show up at the airport. His boss refuses to tell anyone, even the employees where the next meeting/show will be or even hotel they will stay. (and I think they all share the same room, not sure bout that part). But, I mention this as that it is pretty much how I would travel if I were to ever journey with that kind of loot.
TEHAMA

RD$ in/out 20000
Foreign currency:
in: free. Amounts over US10000 should be declared if reexport is intended
out: free to 10,000 US or equivalent

Larger amount require BC's authorization.

Reconversion allowed up to 30% of amount originally exchanged, with supporting receipts.

Barnab?

It is my understanding that you would need to have a DOLLAR account with the bank in DR before the wire transfer in order to receive dollars. If not, then the dollars would be automatically exchanged into peso (assuming you have only a peso account with the DR Bank).

I have also been told that DR banks can be restrictive on the amount of Dollars they can/will give you per day.

I have no idea about a travelers check. The ATM card I find to be the easiest and readily available method for me.
TEHAMA

Pib said:

Exactly. Plus, if they somehow find out you have it and don't declare you may legally lose it. The best thing is not to bring that much cash.

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Well I don't think that you legally lose it but the will confiscate it and put it in the Banco Reservas in Pesos and you then have to prove how you obtained it. Then when that happens you then have to trade it back into Dollars from Pesos and you have suffered a substantial loss expecially if the peso is headed south.

This happened to someone I knew. When they were going through my luggage once at Puerto Plata Airport while I was leaving I stuck my hand in and took out a slew of travelers checks and a few thousand in US 100 dollar bills. He said to me to hand it over to him and I told him it would be a cold day in hell before I would let him touch one penny of my money and that I would count it for him in my hands. Finally his boss came over and said to let me go as travelers checks didn't count. Total was about 6-7k US dollars with most in TC's so I had nothing to worry about. At the time I was traveling back and forth each month and left the money in the DR but didn't get the chance to unload it by the time I had to return.

I would not let these scumbags touch 10 pesos that belonged to me. I may be young but I wasn't born yesterday.

Escott

If I'm entering or leaving with a substantial amount in cash, I personally would not put it in luggage or handbag. I've always found carrying it on one's body is the safest........& before anyone gets any less than salubrious ideas, the use of those multi pocketed baggy trousers is recommended.

Wow, this is a very shady thread. Has no one here ever heard of a bank transfer..........25-50 dollars US tranfer as much as you like.

The ONLY reason someone would travel with in excess of 10,000 dollars cash on them is if they were attempting to hide it.

If many of you are really that dense (which I find to be imposisble). I'll offer you some advice. Open up a money market account in the US if you have that much cash.........then just take out cash as needed via the ATM. The money market interest rates more than cover the fees.

Or for you criminals, why the hell not I'll help you too.......open a swiss bank account and transfer the money into there. You get VISA cards, ATM cards and everything and can even use a fake name! Welcome to the world of high class embezzlment and tax fraud.

But seriously Werner, if I caught you coming into the US with 38 Gs in cash in the internet age, it's pretty obvious you were involved in something shady. So forgive me if I have no sympathy for you spending time in jail. It was probably well deserved for something else you had done in the past.

GilbertArenas said:

Wow, this is a very shady thread. Has no one here ever heard of a bank transfer..........25-50 dollars US tranfer as much as you like.

The ONLY reason someone would travel with in excess of 10,000 dollars cash on them is if they were attempting to hide it.

If many of you are really that dense (which I find to be imposisble). I'll offer you some advice. Open up a money market account in the US if you have that much cash.........then just take out cash as needed via the ATM. The money market interest rates more than cover the fees.

Or for you criminals, why the hell not I'll help you too.......open a swiss bank account and transfer the money into there. You get VISA cards, ATM cards and everything and can even use a fake name! Welcome to the world of high class embezzlment and tax fraud.

But seriously Werner, if I caught you coming into the US with 38 Gs in cash in the internet age, it's pretty obvious you were involved in something shady. So forgive me if I have no sympathy for you spending time in jail. It was probably well deserved for something else you had done in the past.

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Well over $10,000 cash is kind of crazy to carry with you to DR. Why dont you do other things like take $5,000 cash. $2,000 on bank card and have some family member wire you the rest through western union bit at a time. I guess there are other ways too.

GilbertArenas said:

Wow, this is a very shady thread. Has no one here ever heard of a bank transfer..........25-50 dollars US tranfer as much as you like.

The ONLY reason someone would travel with in excess of 10,000 dollars cash on them is if they were attempting to hide it.

If many of you are really that dense (which I find to be imposisble). I'll offer you some advice. Open up a money market account in the US if you have that much cash.........then just take out cash as needed via the ATM. The money market interest rates more than cover the fees.

Or for you criminals, why the hell not I'll help you too.......open a swiss bank account and transfer the money into there. You get VISA cards, ATM cards and everything and can even use a fake name! Welcome to the world of high class embezzlment and tax fraud.

But seriously Werner, if I caught you coming into the US with 38 Gs in cash in the internet age, it's pretty obvious you were involved in something shady. So forgive me if I have no sympathy for you spending time in jail. It was probably well deserved for something else you had done in the past.

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Wow he talked about declaring it. Maybe it isn't as you assume? Don't hardly see what difference it makes to you where someone elses money comes from but you can declare it and bring proof of where you got it from. Real Estate closing, I would bring the closing statement, withdrawn from a bank, I would bring the transaction slip and so on. It isn't illegal to bring down the money "IF" you declare it on the form.

Also fwiw, it would take a long time in a US Money market account at what you get today to pay for the wire transfer and costs of arrival with the interest. I would rather bring it down myself. I bring down 5-8k in travelers checks and the balance of 10k in Cash. I would bring more but don't want to be bothered answering questions even though I don't have shady money as you ASSume. I actually wish I did but I don't.

Scott

Escott said:

Wow he talked about declaring it. Maybe it isn't as you assume? Don't hardly see what difference it makes to you where someone elses money comes from but you can declare it and bring proof of where you got it from. Real Estate closing, I would bring the closing statement, withdrawn from a bank, I would bring the transaction slip and so on. It isn't illegal to bring down the money "IF" you declare it on the form.

Also fwiw, it would take a long time in a US Money market account at what you get today to pay for the wire transfer and costs of arrival with the interest. I would rather bring it down myself. I bring down 5-8k in travelers checks and the balance of 10k in Cash. I would bring more but don't want to be bothered answering questions even though I don't have shady money as you ASSume. I actually wish I did but I don't.

Scott

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Just odd I transferred large sums of money in and out of Banco Popular/Merrill Lynch accounts from the US on a biweekly basis and the money was available the same day for over 8 years.

Just a little strange. Things have only improved since then as well.