When traveling to the US, how do we pay for more than $25,000 in one transaction? For example, for university tuition fees. I can use my bank debit card to take out some cash at the ATM, but I guess it doesn't work on cases like this.
When traveling to the US, how do we pay for more than $25,000 in one transaction?
You pay it the way acceptable to the transaction recipient, who usually lists them. Depending on institution it could be:
- A wire transfer;
- A cashier's check from your bank (did this myself with a much larger amount);
- A debet or credit card (could be with or without a fee);
- ACH transfer (kind of debet-to-debet US bank transfer);
- Cash or personal checks (both are accepted for tax payments, for example, although cash is obviously less convenient because you couldn't mail it).
Finally if your preferred/easiest way to pay is not listed, you can always ask.