{"id":7841,"date":"2022-09-08T12:55:09","date_gmt":"2022-09-08T11:55:09","guid":{"rendered":"https:\/\/blinkx.com\/?p=7841"},"modified":"2023-08-24T16:19:07","modified_gmt":"2023-08-24T15:19:07","slug":"what-happens-when-you-declare-money-at-customs","status":"publish","type":"post","link":"https:\/\/businessfinancenews.com\/credit\/what-happens-when-you-declare-money-at-customs\/","title":{"rendered":"What Happens When You Declare Money At Customs"},"content":{"rendered":"\n

What Happens When You Declare Money At Customs<\/h2>\n\n\n\n

what happens when you declare money at customs? Is your\u00a0credit card going to be accepted by overseas merchants? Can you make money with contract jobs in international locations and bring the cash back with you into the United States? These are just two of the many questions you might ask related to dealing with money when you\u2019re traveling in and out of a nation. Before you decide how to handle financial matters when you travel, make sure you know what happens when you declare money at customs.<\/p>\n\n\n\n

Is There a Maximum Amount of Money You Can Bring Into the United States?<\/h2>\n\n\n\n

When you\u2019re traveling to and from the United States, there\u2019s actually not an official limit on how much of\u00a0your money\u00a0you can carry with you. Note that cash in this case includes actual cash bills and coins as well as instruments that are deemed equivalent to currency. It also refers to cash in the currency of other nations.<\/p>\n\n\n\n

While there aren\u2019t rules on how much money you can carry in or out of the United States, there are requirements for reporting the cash. If you\u2019re carrying currency equivalent to $10,000 or more<\/a>, you have to report the money to customs.<\/p>\n\n\n\n

That limit isn\u2019t per person if you\u2019re with your family or another organized group, either. If you\u2019re traveling together with two other people and you\u2019re each carrying $5,000, that totals $15,000. The total is above the threshold, so your group would have to report the cash to customs.<\/p>\n\n\n\n

What Counts as Cash, Exactly?<\/h2>\n\n\n\n

Okay, but what\u2019s a \u201ccash equivalent\u201d? Can\u2019t anything be converted to cash if you sell it, and does that make your diamond necklace a cash equivalent you need to report?<\/p>\n\n\n\n

While you might need to report other types of items and valuables to customs under different rules, cash equivalents are limited to currencies and financial vehicles that are deemed equivalent to currency. According to U.S. Customs and Border Protection<\/a>, that includes:<\/p>\n\n\n\n