How much cash can I carry when travelling to the US?
I was wondering if someone knows the legal limit of cash money allowed per adult tourist when entering the US, especially from the UK.
The reason is that I would like to get the best conversion rate and buy some dollars (selling my GBP) at the UK cambios/exchange offices so that my bank fees and other charges can be avoided. Therefore, taking the legal limit of cash will help me to make the most out from the currency conversion mishapps.
Any idea on those numbers?
Best Answer
There is no limit, if it's more than 10'000 USD however, you need to declare it:
There is no limit on the amount of money that can be taken out of or brought into the United States. However, if a person or persons traveling together and filing a joint declaration (CBP Form 6059-B) have $10,000 or more in currency or negotiable monetary instruments, they must fill out a "Report of International Transportation of Currency and Monetary Instruments" FinCEN 105 (former CF 4790).
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How much cash can you declare at US Customs?
International travelers entering the United States must declare if they are carrying currency or monetary instruments in a combined amount over $10,000 on their Customs Declaration Form (CBP Form 6059B) and then file a FinCEN Form 105.Can I take cash into the USA?
$10,000 in cash is the limit before you have to declare things to US Customs, I would look into pre-paid credit cards etc. before I considered traveling with a large amount of cash. 2.What happens if you bring more than $10 000 into us?
If you fail to file or declare your monetary instruments exceeding $10,000, U.S. customs officials can charge civil penalties such as hefty fines, or worse yet, confiscate all your money. You may even face jail time if convicted of illegally transporting money.Carrying Cash While you Travel: WHAT ARE THE LIMITS?
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Answer 2
There is no limit to the amount of cash you can carry, however if you are carrying more than $10,000 USD (or equivalent in foreign currency) then you must declare it (full details on how to do that at the URL above).
However bringing cash is very rarely the best strategy for foreign exchange. Although your credit or ATM cards might charge you a fee when you use them in the US, they generally offer an exchange rate that is far better than you'll get when converting GBP cash to USD cash. The difference in exchange rate will normally at least cancel out the credit/debit card fees.
If you convert too much cash and have to convert it back to GBP when your trip is over then you lose out again as once again you'll get a poor exchange rate for the conversion.
Cash also leaves you at risk of losing it and/or having is stolen. Even if you have travel insurance it normally does not cover the loss of cash.
There are multiple questions on here regarding the best way to manage money when traveling - I suggest you do some searching and you'll find the better options than taking physical cash with you!
Answer 3
Entering the U.S. with over $10000 in cash (or equivalent in any combination of foreign currency) will require you to fill declare the cash and will raise a few red flags. They may require proof of where you earned the money and ask why you're choosing to bring it to the U.S.
Typically, withdrawing money from an ATM is an even better option for getting local currency than exchanging it at your bank. Simply use a U.S. ATM with your UK bank card to remove funds from your account in dollars. This will sometimes incur a fee from your bank, but it is possible that your bank will reimburse you for these fees. Check your bank's website for more details.
Since the U.S. Dollar and the Pound are both major world currencies, foreign exchange spreads should be very narrow. Be sure to compare rates. Generally, you will get the worst rates at the airport and the best rates by withdrawing at an ATM.
Consider also using your credit card. Some cards have an overseas transaction fee, but if yours doesn't, you can bring less cash by using your card for most purchases.
Sources: Stack Exchange - This article follows the attribution requirements of Stack Exchange and is licensed under CC BY-SA 3.0.
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