How To Transfer Money Across The Border

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How To Transfer Money Across The Border
How To Transfer Money Across The Border

Video: How To Transfer Money Across The Border

Video: How To Transfer Money Across The Border
Video: Mastercard Send - Cross Border Payments 2024, May
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Not everyone knows that the main act regulating both the import and export of all funds, including currency, beyond the official border of our country is the Customs Code, which today applies to all countries of the so-called Customs Union, which includes Russia. Kazakhstan and Belarus. The current rules for the transportation of money are quite simple and straightforward and have recently been greatly simplified.

How to transfer money across the border
How to transfer money across the border

Even 5 years ago, an amount exceeding the established limit of 10,000 US dollars could be taken out of Russia only with the special, obligatory written permission of the Central Bank. In 2010, this rule was canceled, significantly simplifying the export of funds.

Money loves counting

To begin with, it is worth counting the total amount of all the cash that you plan to carry with you, and you need to take into account any currency you currently have, Russian rubles are no exception. The total amount of funds must not exceed $ 10,000 at the current exchange rate of the US currency. If the condition is met, then the carrier is given full carte blanche: there is no need to fill out an official customs declaration, and the process of passing customs control is carried out through a very simplified, green corridor.

Otherwise, the available amount of money must undergo official registration, and the carrier himself must go to the red corridor of customs. In the official declaration, you must indicate the address of residence, the source from which the funds were received, as well as the method of their further use. This rule applies to both the currency itself and non-cash settlements, for example, traveler's checks and bills. But the securities you have with you must be declared in any case, regardless of their face value.

If you find it difficult to carry out calculations and recalculations at the current rates, or currency rates change quite often and can lead to very delicate situations, it is recommended to be vigilant and declare the amount being transported in any case.

Passage of customs control

The import and export rules are today similar and provide for the same procedure for passing through the customs zone. The carrier must apply the exchange rate in effect on the day it crosses the border in the country from which it leaves. The amount of cash is calculated per person, that is, even if you are traveling alone with a small child, you have every right to transport up to $ 20,000 without filling out a declaration. It should also be remembered that customs officials are not interested in the money on your bank cards, the presence of which is not required to be mentioned at the border.

Before carrying out the transportation of available funds, it is important to compare the customs legislation of the countries of import and export of currency. So, for example, taking with you an amount of $ 10,000 from Russia, you cannot go to the green corridor, for example, in Bulgaria, whose laws provide for the declaration of any amount in excess of one thousand US dollars.

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