Originally Posted by
anishub
So far, I found the classic 'cash is the king' to be the best. Yes, carrying cash, have no side effects, except there is a cap at US$10k per person/trip. The x-rates are likely the best (at money changers) in SIN to convert your US$. There are no commission or any other charges. Just shop around for the best rates b4 settling. Just make sure you mostly US$100 bills (as the higher denomination gets the best rates). Just a word of caution, evaluate the 'cash risk' against the US$200-300 savings on a US$10k wire transfer.
There is no USA 10K cap! However, there is a reporting requirement.
You may bring into or take out of the country, including
by mail, as much money as you wish. However, if
it is more than $10,000, you will need to report it to
CBP. Ask the CBP officer for the Currency Reporting
Form (FinCen 105). The penalties for non-compliance
can be severe.
“Money” means monetary instruments and includes
U.S. or foreign coins currently in circulation, currency,
travelers’ checks in any form, money orders,
and negotiable instruments or investment securities in
bearer form.