Expat Exchange
Free MembershipSign In

Uruguay Expat Forum

modes of moving money

New Topic Newest First
sylk
  1/17/2019 22:53 EST

Other than what you can legally carry with you, and/or wire into your Uruguayan bank account...has anyone ever successfully brought a bank cheque and had it deposited? Or some payout directly from a financial or investment firm like Fidelity Investments? (that comes with its explanation / source of funds, etc)??

Or does one have to schlep to the States, deposit it, then wire the $$ down, hoping the "source of funds" isn't lost in the transitions??

just don't want to run outta pesos.
;>)
thanks for your help.

pdeuyu
  1/18/2019 06:46 EST

If you have an account with BROU I believe you can make deposits to your account in their bank in the USA. BROU has a bank in New York.

I would ask them first. They speak English

Here is their information
Isabel Torena
BackOffice Clerk
Banco de la Republica Oriental del Uruguay
1700 Broadway Suite 3101,
New York, NY 10019
Phone: (212) 307 9600- Ext. 225
Fax: (212) 307 6786
[email protected]

GeoBlueGeoBlue
Get Quote

GeoBlue is a trusted leader in international health insurance. Wherever your destination, GeoBlue can keep you and your family covered with the right health insurance. Get a GeoBlue Quote Today!

GeoBlueGeoBlue

GeoBlue is a trusted leader in international health insurance. Wherever your destination, GeoBlue can keep you and your family covered with the right health insurance. Get a GeoBlue Quote Today!
Get Quote

Expat91364
  1/18/2019 09:29 EST

My bank here has never questioned source of funds when wired in from any established, reputable financial institution in the US or Western Europe. In amounts large or small.

Fidelity should be able to wire it to you here directly with no problem except for the wire fees on both ends.

Other option is consider an account here and in the US with HSBC, they seem to be offering a package of global banking which might help. Citibank had it until they pulled out of the market here.

Good luck

pdeuyu
  1/18/2019 09:56 EST

I wired 60,000 USD to my personal BROU last week from my Suntrust business account in Florida USA and BROU held my money until I provided them with my tax returns for the last 5 years and the bank statements of my company. I had another incident with BBVA where I wired in 100,000 USD and the same thing happened.

My money was released once I provided the documents.

Morell
  1/18/2019 10:00 EST

I believe if you keep the amount under $10,000 US it tends to go through without problems.

Expat91364
  1/18/2019 11:01 EST

I bank with Itau and have never had a problem with any of that. Last year $140k for an investment, and $30k for a car purchase with zero problems or questions asked.

Only years ago when moving a large amount in to buy my house did they ask and a letter from my Escribano solved that since he had all my financial documentation for my residency application.

And in 6+ years never a peep about regular transfers of 2-10k USD for living expenses.

Good luck!

GeoBlueGeoBlue
Get Quote

GeoBlue is a trusted leader in international health insurance. Wherever your destination, GeoBlue can keep you and your family covered with the right health insurance. Get a GeoBlue Quote Today!

GeoBlueGeoBlue

GeoBlue is a trusted leader in international health insurance. Wherever your destination, GeoBlue can keep you and your family covered with the right health insurance. Get a GeoBlue Quote Today!
Get Quote

Morell
  1/18/2019 11:30 EST

BROU tends to be very beaurocratic as it is the state bank. We had to provide all the relevant documentation to move money here over the $10,000US amount and were also asked for all the paperwork on all kinds of things such as car and house purchases here, source of funds etc. just for banking with them. We had to take an escribana with us to the Bank to verify the documents or they told us our account would be "restricted".
They said the Central Bank requires these records on all account holders and if a bank refuses to provide them, they are fined. I was told the private banks prefer to pay the fines.

Vortice
  1/19/2019 08:50 EST

You can also wire money directly to the sellers BROU account, such as we did with Subaru, but your account has to be very carefully set up stateside for it to actually work! Wire transfer cleared in 2 days and we drove home in a new car.

GeoBlue
GeoBlue

Top-quality coverage for people who live, work, study and travel internationally.
Get Quote

GeoBlueGeoBlue

Top-quality coverage for people who live, work, study and travel internationally.
Get Quote

Living in Uruguay GuideLiving in Uruguay Guide

Many expats who consider living in Uruguay have lived in other South American countries, and then they are exposed to stories of all that it has to offer.

Uruguay Forum Uruguay Forum
Join our Uruguay forum to meet other expats and talk about living in Uruguay.

Contribute to Uruguay Network Contribute
Help other expats and newcomers by answering questions about the challenges and adventures of living in Uruguay.

Best Places to Live in Uruguay Best Places to Live in Uruguay

If you're dreaming about living in Uruguay, here are the 15 Best Places to Live in Uruguay in 2023.

Healthcare in UruguayHealthcare in Uruguay

Expats in Uruguay have a variety of healthcare options available to them. Understanding what is available is an important part of preparing to move there.

Cost of Living in UruguayCost of Living in Uruguay

Expats offer insight into the cost of living in Uruguay.

Moving to UruguayMoving to Uruguay Guide

Expats who move to Uruguay offer a lot of advice about moving there. There are several aspects of living in Uruguay that need to be taken into consideration: health care, cost of living, transportation and types of housing are just a few of the areas to investigate.

Real Estate in UruguayReal Estate in Uruguay

Real estate listings in popular cities and towns in Uruguay.

Pros Cons of Living in UruguayPros & Cons of Living in Uruguay

Take off your rose-colored glasses and learn what expats have to say about the biggest challenges and the greatest rewards of living in Uruguay.

Retiring in UruguayRetiring in Uruguay

Advice for people retiring in Uruguay.

10 Tips for Living in Uruguay10 Tips for Living in Uruguay

If you've recently arrived in Uruguay, here are 10 tips for digital nomads living in Uruguay.

GeoBlue
GeoBlue

Top-quality coverage for people who live, work, study and travel internationally.
Get Quote

GeoBlueGeoBlue

Top-quality coverage for people who live, work, study and travel internationally.
Get Quote

Contribute to Uruguay Network Contribute
Help others in Uruguay by answering questions about the challenges and adventures of living in Uruguay.

AGS Worldwide Movers
AGS Worldwide Movers

Copyright 1997-2024 Burlingame Interactive, Inc.

Privacy Policy Legal