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Transfering funds to buy property

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can80n

I know it can be done, but may bank in the U.S. is not trying to help me. I want to tranfer MY money in MY account in the U.S. to the bank of the people of the I want to buy property from in Vung Tau, without having to go back to the U.S.A. in person, only to turn around and come back. My U.S. bank is telling me that "if it's a wire" I have to come back in person to make the transaction.

If there's anyone that can give me detailed instructions on how to do this, so that I can make my U.S. bank do what I want, I'd appreciate it!

ralphnhatrang

Would a signed fax do? That's what my Australian bank accepts.

tunnelrat69

I have a Bank in Hawaii that imposed that rule on me, got a boatload of $$ in there, and they won;t transfer it overseas,  have to go back and do the transfer in person.  Only allows $1000 in 'pop money' transfers once a week, so that is out, to another bank I have in the US that does send me money to my Viet bank...........over $10K I have to send them a Signed Memo, then they will also call me to verify.   Soon as I get back to Hawaii I am sending all but $1 to other Bank.

Remember anything over $10K will be under the scrutiny of the IRS and your bank is obligated to report the transfer.

Guest2023

Look at it this way, its a safeguard for you. Most banks will do this with large sums of money.

If you really want to buy it, spend a few thousand and fly home to sort it out.

can80n

Thanks for that. I did know about the 10K rule, but I'm told that's for bringing in cash and not for puchasing property? Either way, I'm sure the tax man will have his hand out at some point? What I did see was, if I had a business account, I could transfer as much as I want.

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