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Sending money home

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chrislunda
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Sending money home

Postby chrislunda » Fri, 06 Nov 2009 10:38 pm

I am considering a transfer in March and have found this site very useful in answering most of my questions, but now I need some help as it relates to money transfers.

Unfortunately I still have a divorce settlement due once a month in the US so my question is three part, are there restrictions in transferring money back to the states?, can you have your employer pay you in US dollars? and finally can you set up a USD bank account in SG?

Thanking you in advance for any help you can offer
All the Best,

Chris

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econoMIC
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Re: Sending money home

Postby econoMIC » Sat, 07 Nov 2009 4:44 pm

chrislunda wrote:I am considering a transfer in March and have found this site very useful in answering most of my questions, but now I need some help as it relates to money transfers.

Unfortunately I still have a divorce settlement due once a month in the US so my question is three part, are there restrictions in transferring money back to the states?, can you have your employer pay you in US dollars? and finally can you set up a USD bank account in SG?

Thanking you in advance for any help you can offer


In that order: No, most likely not, Yes.
a.k.a. littlegreenman

chrislunda
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Thanks

Postby chrislunda » Tue, 10 Nov 2009 4:16 am

...
All the Best,



Chris

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econoMIC
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Re: Sending money home

Postby econoMIC » Tue, 10 Nov 2009 4:02 pm

:roll:

chrislunda wrote:...are there restrictions in transferring money back to the states? No. , can you have your employer pay you in US dollars? most likely not and finally can you set up a USD bank account in SG? Yes

Thanking you in advance for any help you can offer
a.k.a. littlegreenman

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durain
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Postby durain » Wed, 11 Nov 2009 12:57 am

look into this thread as well...

ftopic64749.html

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Strong Eagle
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Re: Sending money home

Postby Strong Eagle » Wed, 11 Nov 2009 1:54 am

chrislunda wrote:I am considering a transfer in March and have found this site very useful in answering most of my questions, but now I need some help as it relates to money transfers.

Unfortunately I still have a divorce settlement due once a month in the US so my question is three part, are there restrictions in transferring money back to the states?, can you have your employer pay you in US dollars? and finally can you set up a USD bank account in SG?

Thanking you in advance for any help you can offer


To save on transfer fees you should consider bundling payments to your US bank, then using US bank facilities to transfer money into the ex's account.

You _could_ get your employer to pay you in US dollars if they are willing... a friend of mine got paid in US dollars into a USD denominated bank account (most all banks can set this up). You don't escape wire transfer fees... and no matter how you work it, somewhere you are going to face the exchange rates. My view is that the dollar will drop, to some extent, against the Sing dollar, thus, makes more sense to be paid in Sing $$.


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