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.
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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]
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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
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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.
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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.
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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!
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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.
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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.
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