money transfer

I will be working over the summer in europe and being paid in cash. What is the best way to get that money back to my bank in the US>

Posted by Lee
Oregon
1638 posts

Ask your bank in the U.S. My guess would be to open a bank account where you're working and make a wire transfer.

Posted by Lee
Oregon
1638 posts

One more thought about sending TCs home: Be sure you buy TCs your bank will honor, just in case there are some they won't. Or maybe buy Int'l. Money Orders if they're available.

Posted by Johnny
Fultondale
4 posts

Thanks. I will be traveling in many countries, with different currencies. Opening an account in a foreign country isn't easy but I'll look into it further. I was considering purchasing USD travelers checks, endorsing them "for deposit only" and mailing them home. Any thoughts on that? I know they are obsolete but for this purpose they may be the safest and cheapest.

Posted by Tom
Chicago
2876 posts

Check with your US bank to see if they will accept smartphone images of international checks for deposit.

Posted by Lee
Oregon
1638 posts

I see you live in Alabama. Deutsche Bank has branches in Florida, Tennessee, Mississippi and Georgia. Set up an account before you go. They're located in every country in Europe. They will advise you as to the best way to make the transfer. Deutsche Bank Location Finder Your TC strategy might work but I think you'll pay an exchange rate commission when you buy them.

Posted by Monte
Genesee, ID
1376 posts

If all else fails you can put the cash, a little at a time, in plain envelopes and send it to me. I will see that it gets where it needs to go.

Posted by Nigel
East Midlands, England
8758 posts

Make sure you have a visa which allows working so that when you are questioned about the money you will have the right answers. Don't forget to declare it and pay tax.