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boundforsaudi · Joined: 29 Jan 2003 Posts: 243

If I convert my rials to dollars here at the money changer and carry cash back to the US I save about 100 bucks over doing a wire transfer. But I'll have to fill out customs form 4790. Is that just asking for an audit? Anybody have any experience with that? I guess I could survive an audit, but you never know and who wants the hassle? Pisses me off about the 100 bucks though.

veiledsentiments · Joined: 20 Feb 2003 Posts: 17644 Location: USA

Do you mean a tax audit? That would not be the result. They would merely question the source of the money to make sure that it is not from or for illegal activities like drugs or turrirsm. You might want to carry pay stubs or a copy of your contract. Personally I would get a bank check and mail it home to avoid this aggravation. The moment you deposit it into the bank, it will trigger the same questions. These days even small amounts can get checked. I have had a bank call me three times to question the source of funds when I was transferring between my own accounts!! And it was only $5000.

Carrying large amounts of cash around is really taking a foolish risk. I know of a teaching couple who did this same thing to save a tiny amount in the exchange rate and ended up having almost their full salary for the year stolen. It can so easily get snatched in an airport. I don't think it is worth the gamble myself.

VS

canadashirleyblue · Joined: 06 May 2007 Posts: 162

If you are leaving Saudi permanently you will have to close your bank account before you can get an exit visa. You may get paid your last salary AFTER you close your bank account.
You may have to take a large amount of cash out of the country.

cmp45 · Joined: 17 Aug 2004 Posts: 1475 Location: KSA

canadashirleyblue wrote:
If you are leaving Saudi permanently you will have to close your bank account before you can get an exit visa. You may get paid your last salary AFTER you close your bank account.

I am not so sure about this, from what I understand it is not necessary as the banks automatically close your account if you do not renew it each year.
At least this is my situation, I have to renew/reactivate my account each year at the Arab National Bank in Riyadh.

007 · Posted: Wed Jun 13, 2007 3:59 pm Post subject:

canadashirleyblue · Joined: 06 May 2007 Posts: 162

You have to hand in your Igama to get your exit visa.

Your bank account is frozen (supposed to be anyway) when you get your final exit visa.

You can't take the money out of your account without your Igama (well you aren't supposed to be able to).

Even if you were able to put your final pay in your bank account (after getting your exit visa) it would be a mightly foolish thing to leave the money in the account and hope that you would be able to access it later. I wouldn't want to count on getting it via a Saudi bank card.

veiledsentiments · Joined: 20 Feb 2003 Posts: 17644 Location: USA

Did anyone read the question here or the title of the thread?

It has nothing to do with closing a bank account in Saudi...

He is asking about the possible ramifications of taking a large amount of cash into the US through customs - which is why he chose the General section instead of the Saudi section I suppose.

Has anyone got anything to add related to the OP's question? Has anyone filled in the Form 4790 at a US airport and encountered problems?

VS

scot47 · Joined: 10 Jan 2003 Posts: 15343

Such ardour ın attemptıng to save USDollars100 means that İ have to nomınate the poster for honorary membership of the 300 Club !

canadashirleyblue · Joined: 06 May 2007 Posts: 162

vs

Perhaps you should have read all of the post (including the title). Boundforsaudi is asking about how to take money out of Saudi without problems with tax or paying the $100.

Maybe bound should be made to put his post on the correct formum?(LOL) Maybe we should be excluded from the discussion?(LOL) What are you - a teacher or something?

We were giving whatever information we had. Maybe it wasn't much but it could have been helpful to someone.

If there is anyone out there with better infor lets hear it!

And you veiled? What is it that you have to offer?

boundforsaudi · Joined: 29 Jan 2003 Posts: 243

veiledsentiments · Joined: 20 Feb 2003 Posts: 17644 Location: USA

Hey boundforsaudi,

Thanks for pointing out that I was the only one who managed to read and understand your question (which seemed amazingly simple to me... but perhaps because I am American and aware of the pitfalls of hauling big chunks of cash into the country... which is why I always avoided it).

The only mention of Saudi anywhere is in your screen name and people should answer the question... and keep in mind that people change countries without changing their screen names. Laughing

Really it is only a 1% charge... and could save you more than a hundred dollars worth of aggravation.

VS