Need to transfer $1.5-$2.0M to the US. Can you help me?
Hey guys,
This is not a joke and i'm just gonna cut to the chase as i'm not really sure what to do here. Please don't MS me as i'm just trying to help someone out. If this is an inappropriate post I will delete it.
A member of my family owns a solar company that is based in the US but provides services in Pakistan. We are expecting a payment of $1.5M-2.0M next week and we need to transfer this amount to our bank account in the US; we also need to convert this amount to USD. We will be receiving the payment in PKR (Pakistani Rupee). We have Allied Bank here in Pakistan but they will not convert PKR to USD and they have a sad limit of $10K USD.
Is it possible to exchange this and transfer with less fees than your typical wire transfer service like Western Union? What kind of fees/exchange rates should we expect? Essentially, what should I be looking into right now? We are a start up and still learning the ropes; fortunately, things are going better than expected. We'd obviously like the lowest cost option.
Thanks guys.
Damn so that Nigerian Prince has been real this whole time?!??
Haha goddamit
Cryptocurrency via Bitcoin, Ethereum, Litecoin
gl explaining the IRS where 2.0 mUSD worth of crypto came from
"solar company in pakistan"
haha
plus gl buying 2 mUSD worth of crypto in PAKISTAN. for sure they have very reliable and liquid exchanges there
plus gl buying 2 mUSD worth of crypto and it goes down 5 10% in the next day
or up, who knows
You can try Transwire or OFX. They can be transferred only bank account to bank account. Very little fee compared with others. My friend works for Transwire and I used OFX (small amount transfer, just thousands)before. But do your research : )
Regardless. large amount money will be monitored, you should call them to confirm detail.
pm me
What about converting PKR to a more liquid currency that's common in the region (ex. INR, AED, etc.), transferring the currency to the US and then converting it stateside?
HSBC
I have a similar issue, but not a sum that large. I am considering going to IRS office and talking to them and see what the best approach would be along with hiring a tax lawyer. Not trying to end up going to jail after receiving cash. you should consider something similar just to be safe.
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