Hey Guys,

We are currently in Vegas and have won a fair amount on casino/poker ($xx,xxx) but we are having trouble working out how to get this cash back into the UK. We already have the money in cash so the casinos won't wire the money because they say its money laundering.

Has anybody had previous experience with this? If we rock up to heathrow airport with all the money in cash and declare it, surely they will just think its drug money or something? (does anybody know how much tax they charge as well?)

Cheers

sorry just noticed there was a thread for questions like this, delete if you like

Is there a problem with taking it on the plane?

@snipa: cannot find the thread you mention. could you post the link please? thanks and BR.

k*

There are no penalties for carrying large amounts of cash over international borders, though it must be declared for the purpose of money laundering prevention. The United States Treasury requires that you file Form FinCen 105 (Report of International Transportation of Currency or Monetary Instruments), which can be printed in advance or obtained from any U.S. Customs office, most likely your airport of international departure. It only asks where you stayed in the United States, identifying information, and how much is being transported. Whether you mail the money or carry the money, you must file this form prior to the money leaving the United States.

http://www.cbp.gov/xp/cgov/travel/va...kbyg/money.xml

Her Majesty's Revenue & Customs has a similar requirement for amounts over 10,000 Euros. You will also need to use the red channel rather than the green channel upon your return. You will be provided form C9011 at the airport. You have rights under the law if your cash is seized.

http://www.hmrc.gov.uk/customs/arriv...aring-cash.htm
http://www.hmrc.gov.uk/customs/arriv...s-channels.htm

Put the money in your pocket or manpurse or whatever. When you depart, and when you land, declare the money on the appropriate form. They may ask why you are carrying money. Show them your departure ticket from Las Vegas and say I'm one of the lucky few who won. They'll say congrats and next person please.

if its $xx,xxx and there´s 2 of you , just take up to $9,999 each with you in the airplane and by law you don´t have to declare anything to anyone. IF youre a UK/EU national its very unlikely that someone will frisk you @ any airport anyway.I know tons of players leaving vegas every yer to Europe with more than 10k and never had any trouble

Just FYI this is a felony because you are conspiring to not report currency. Declare your money. Or get a check.

Get a check imo if this is an option.

Otherwise, go to Wells Fargo or Chase and open an account. I'm sure you guys have these banks over in UK. London must have some as that's where I assume you're flying into. When you get home, withdraw & close the account. I don't believe that's breaking any laws

Wells Fargo, Chase, & Bank of America do not operate outside of the United States of America. Additionally, to open a bank account in the United States, one must have a permanent residence in the United States. A bank will not accept a hotel address.

There is nothing inherently suspicious about transporting large sums of foreign currency across international borders. The governments want to be aware of large transactions that may mask money laundering operations, which is automatic when banks do transactions with each other, but requires additional steps when bearer currencies (like cash or travelers cheques) change hands.

Additionally, I understand that under the U.S-U.K. tax convention, you have no obligation to the United States on your winnings, and there is no gambling tax in the United Kingdom.

In conclusion, I suggest investing in a good rubber band.

No rubber bands u felon ...lol

What about a bank like HSBC? They bill themselves as the worlds local bank. I'm sure they have a branch or two in London.

Edit: Whoops I thought there was a branch in Las Vegas. My bad

this guy has no idea what he's talking about

They're a British/Chinese bank and their HQ is in London & plenty of branches - though I don't think (despite the 'worlds local bank' marketing) that you can open an account in the UK and deposit in a HSBC branch in the states or vice versa - my American flatmate made this assumption a couple of years ago and it didn't work out for her then.

It might well be worth the OP opening an account with citibank - I know they've got at least one retail branch in London (near St Pauls) as I walk past it on the way to work... tis supposed to be fairly easy to have a GBP, EUR and USD account with them and I'd assume the FX rates would be more reasonable to transfer between accounts - though again I think this might only be of use once he lands in the UK rather he likely couldn't just pop into a citi branch in the US to make a deposit.

go buy gold coins at the coin shop!