BUYING USA PROPERTY
TRANSFERRING FUNDS FOR RENTAL PROPERTY EXPENSES
The content on this page is reproduced from www.US-Property-Investment.com with kind permission from Richard Lillycrop.When you first open a new bank account in the US it will need funding. When you open the account you will typically deposit a little cash to get the account opened. The bank will then give you the new account numbers. Get their routing number also, so you can do wire transfers into the account. This is the easiest way to get large amounts of money from your overseas account, at a reasonable exchange rate, without incurring high transaction costs.
Once your account is funded, you can write or order US dollar checks to pay for most costs. If you have a need to pay small amounts before your account is opened and the person or company doesn't take credit/debit cards, you can use a service such as PayPal or Western Union. Notwithstanding the beforementioned INBIB can advise and assist with these processes.
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Please Note - The information contained above should not be regarded as legal or tax advice and is our opinion only.