depositing cheque..

J

jaymcs

Registered User
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Hey people,
My cousin is getting a cheque sent to him from an online american stock broker... (to Ireland)
It is for $5300 just under 5000 euros... does he just lodge the cheque into his savings account and wait for it to clear ?? Will there be questions asked I.e. where it came from etc...

Would it be better to setup an account with the likes of a currency transfere website wire the money to them and then get cheque or wire the money to ireland from there ??

Thanks and regards,
J
 
The cheapest, quickest and least hassle way to do this is using an online currency broker such as Transferwise.

The bank may or may not ask the source of the funds. As long as the source is legit there is nothing to worry about.
 
he's just worried about possible tax issues...

Would that be the same as using XE (I get a better rate on XE)...? also is it better to wire the money or get a cheque posted out ?
 
Wiring the money via an online currency broker is the best route.

You may not get market FX rates but it should not be too far from market rates.
 
is there a limit that if you go over they start asking q's .... i.e. is ten or fifteen grand still no problem ??

What is the limit with the money laundering legislation that was brought in good few years ago in Ireland for future reference ?
 
jaymcs said:
he's just worried about possible tax issues...
Click to expand...
Are you asking how to evade tax or how to receive the funds efficiently? If you are asking about tax evasion you won't get any help here, if not then apologies for misinterpreting your posts.
 
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