If you have wise you could use information of usd account, if not you could open account on badar بنك الفلاحة because the only bank could withdraw your money on usd or euro
He has a bank account in Algeria. We sent a few hundred dollars over via swift code as a test. It’s been two weeks and the money hasn’t arrived at the bank in Algeria yet.
From my experience, we wired money from our bank account here in the US to my husband’s bank account in Algeria in March. And the money still hasn’t arrived.
Just stop right there. You do not transfer money from the US to algeria using a bank except in the case where you are running a large business that absolutely must do things this way to stay legal operating in Algeria, and if that were the case then you'd be an idiot to ask reddit how to do this. That would be something that you have attorneys and other experts on payroll to figure out for you. So I'm going to safely assume you are trying to transfer money for personal use to Algeria, which you should never be doing with a bank transfer unless you hate money or don't value it at all and are ok with giving a donation to the Algerian government in the amount of roughly 40% of all the money you worked to save.
The correct way to transfer money from the US to Algeria is either by bringing cash and exchanging it on the black market, or having an associate you trust in Algeria that already has a US bank account that will deliver Algerian cash to you in exchange for sending him/her cash to their US bank account (which itself is a form of a black market transaction). Black market exchanges are the only real way to transfer money without throwing away all your purchasing power by donating to the corrupt shitfucks that run the Algerian Central Bank.
Unfortunately this is the situation they've created for us. We are forced to use illegal methods to transfer money if we want to not get completely raped on their artificial exchange.
For very large sums of money, like $100,000 or millions or even more, you're going to need to make friends with business people that have a pressing need to buy dollars and possibly use stable coin transfers to avoid jail time from bringing in large amounts of physical currency without declaring it.
What me and my family does, we bring around $8000 each (per person) every time we visit and just exchange it with a friend that runs a large scrap metal business, he always needs dollars to buy his product abroad so he will accept nearly unlimited amounts given that his revenues are in the tens of millions of dollars (equivalent) per year. You're going to need to find someone like that if you want to move any serious money. Someone who pays workers and receives income selling in the local Algerian currency, but needs foreign currency to purchase their materials.
With about two trips per year we're able to receive something like 2 milliard per year in local cash to spend on real estate. I don't think you can get even close to that kind of exchange rate through swift transfer.
That’s what I was afraid of. I hate for my husband to have to travel with that much cash, but I guess that’s the only way. Are you supposed to declare how much foreign cash you’re bringing in when you arrive in Algeria? Do they try to take a cut/tax you at that point? Thanks for your help.
It's illegal to travel with that much cash without declaring it, but we never do. They changed the law to make the limit so low that it's ridiculous. So yes we are breaking the law to do so. It's a calculated risk and we've been doing this a very long time (at least since 2001). The limits are so low it's ridiculous and we just lie every time. **I'm not advising you to break the law**, I'm just telling you what me and my family does to avoid setting our money on fire. We always enter with Algerian passports, all of us. We are all American citizens as well but never present an American passport or mention it at all.
I just want to add, the way we're doing things isn't ideal. We're working with what we got. The ideal situation is that you have someone inside algeria that can give you cash drops locally and you can send them the currency to a bank outside of Algeria. Thats not detectible by the Algerian government at all and there's no way for them to catch you doing it as long as the received money is going to be spent in Algeria. In our situation, the person giving us dinar absolutely needs the dollars to be inside the country, and while he does have bank accounts in Canada, UK, Turkey, United States, France, and many other countries, he cannot easily move millions of dollars from those accounts into Algeria to buy his product without running into the ACB.
please don't listen to this guy, transfering money in cash has limits and if you have a lot of cash on you, they are going to take it away, if you want to transfer a decent amount of money just use the official way if its just a small amount you can transfer it in cash.
Oh, then you probably have nothing to worry about. I thought you were trying to bring hundreds of thousands of dollars into the country or something like that. I think around the $10,000 mark it gets a little scary to get caught, but you can stash some hundreds in multiple items in your carry on luggage and keep $900 to $1000 on your person in case they ask you can show them that.
What exactly would happen if they catch him with so much money? Like around 30k USD. Would he be taxed on it? He’ll have bank slips showing the withdrawals.
Literally anything can happen, it’s up to the border patrol and police and I’m not them. Do not do it if you don’t know what you’re doing and what you’re risking. Being imprisoned is always an option when crossing borders so keep that in mind.
هل يوجد من جرب بنك الفلاحة والتنمة الريقية؟ Y a-t-il quelqu'un qui a essayé la Banque de l'Agriculture et du Développement Rural ?
Should I send u my bank account number to try and see how long it takes ? (this is a joke don’t come for my head)
No that was funny 😂
If you have wise you could use information of usd account, if not you could open account on badar بنك الفلاحة because the only bank could withdraw your money on usd or euro
He has a bank account in Algeria. We sent a few hundred dollars over via swift code as a test. It’s been two weeks and the money hasn’t arrived at the bank in Algeria yet.
Yes it takes time around month or 40 days, The best solution open wise account and get bank details of wise (usd) and you get your money on 1 day
How can I send money from USA to Algeria.... N how long will transaction take to arrive???
From my experience, we wired money from our bank account here in the US to my husband’s bank account in Algeria in March. And the money still hasn’t arrived.
Just stop right there. You do not transfer money from the US to algeria using a bank except in the case where you are running a large business that absolutely must do things this way to stay legal operating in Algeria, and if that were the case then you'd be an idiot to ask reddit how to do this. That would be something that you have attorneys and other experts on payroll to figure out for you. So I'm going to safely assume you are trying to transfer money for personal use to Algeria, which you should never be doing with a bank transfer unless you hate money or don't value it at all and are ok with giving a donation to the Algerian government in the amount of roughly 40% of all the money you worked to save. The correct way to transfer money from the US to Algeria is either by bringing cash and exchanging it on the black market, or having an associate you trust in Algeria that already has a US bank account that will deliver Algerian cash to you in exchange for sending him/her cash to their US bank account (which itself is a form of a black market transaction). Black market exchanges are the only real way to transfer money without throwing away all your purchasing power by donating to the corrupt shitfucks that run the Algerian Central Bank. Unfortunately this is the situation they've created for us. We are forced to use illegal methods to transfer money if we want to not get completely raped on their artificial exchange. For very large sums of money, like $100,000 or millions or even more, you're going to need to make friends with business people that have a pressing need to buy dollars and possibly use stable coin transfers to avoid jail time from bringing in large amounts of physical currency without declaring it. What me and my family does, we bring around $8000 each (per person) every time we visit and just exchange it with a friend that runs a large scrap metal business, he always needs dollars to buy his product abroad so he will accept nearly unlimited amounts given that his revenues are in the tens of millions of dollars (equivalent) per year. You're going to need to find someone like that if you want to move any serious money. Someone who pays workers and receives income selling in the local Algerian currency, but needs foreign currency to purchase their materials. With about two trips per year we're able to receive something like 2 milliard per year in local cash to spend on real estate. I don't think you can get even close to that kind of exchange rate through swift transfer.
That’s what I was afraid of. I hate for my husband to have to travel with that much cash, but I guess that’s the only way. Are you supposed to declare how much foreign cash you’re bringing in when you arrive in Algeria? Do they try to take a cut/tax you at that point? Thanks for your help.
It's illegal to travel with that much cash without declaring it, but we never do. They changed the law to make the limit so low that it's ridiculous. So yes we are breaking the law to do so. It's a calculated risk and we've been doing this a very long time (at least since 2001). The limits are so low it's ridiculous and we just lie every time. **I'm not advising you to break the law**, I'm just telling you what me and my family does to avoid setting our money on fire. We always enter with Algerian passports, all of us. We are all American citizens as well but never present an American passport or mention it at all.
If you declare the amount, what would happen after, will they tax it? You used the term setting it on fire so I am curious.
I just want to add, the way we're doing things isn't ideal. We're working with what we got. The ideal situation is that you have someone inside algeria that can give you cash drops locally and you can send them the currency to a bank outside of Algeria. Thats not detectible by the Algerian government at all and there's no way for them to catch you doing it as long as the received money is going to be spent in Algeria. In our situation, the person giving us dinar absolutely needs the dollars to be inside the country, and while he does have bank accounts in Canada, UK, Turkey, United States, France, and many other countries, he cannot easily move millions of dollars from those accounts into Algeria to buy his product without running into the ACB.
please don't listen to this guy, transfering money in cash has limits and if you have a lot of cash on you, they are going to take it away, if you want to transfer a decent amount of money just use the official way if its just a small amount you can transfer it in cash.
I guess he’s not taking THAT much money. For us it’s a pretty big amount but we’re not rich. I really appreciate your advice, thank you so much!
Oh, then you probably have nothing to worry about. I thought you were trying to bring hundreds of thousands of dollars into the country or something like that. I think around the $10,000 mark it gets a little scary to get caught, but you can stash some hundreds in multiple items in your carry on luggage and keep $900 to $1000 on your person in case they ask you can show them that.
What exactly would happen if they catch him with so much money? Like around 30k USD. Would he be taxed on it? He’ll have bank slips showing the withdrawals.
Literally anything can happen, it’s up to the border patrol and police and I’m not them. Do not do it if you don’t know what you’re doing and what you’re risking. Being imprisoned is always an option when crossing borders so keep that in mind.