Reporting large bank transfer

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I want to transfer all my money from my bank in Germany to my bank in the US as I'm moving for good. I read online that if I transfer more than 12500 Euros then I have to report it. Does anyone know anything about this? I read it here: http://de.wikipedia.org/wiki/Auslands%C3%BCberweisung#AWV-Meldepflicht

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Hi Jontytyt,

I don't have any specific knowledge of German finance law, and every post that I've seen from PandaMunich has always been right on the money, however structuring payments to avoid government mandated reported qualifies as smurfing. As such, you should be careful about moving large amounts of money without speaking with an advisor.

 

Have a look here:

 

https://www.google.com/search?q=site:bafin.de+smurfing

 

As a side note, in the US financial institutions are required to file a currency transaction report for amounts exceeding 10000 USD, if you ask a teller for $9999 specifically to avoid a CTR, they are required to file one anyway, with the assumption that you're attempting to structure payments to avoid the reporting in the Bank Secrecy Act.

 

As a second side note, PandaMunich is usually right, and he clearly knows much more about German finance law than me, so take what I say with a grain of salt.

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You have to report transfers over 12,500 "for statistical purposes", but the not just to a non-EU country. It is also required for EU transfers. You don't if it's within Germany.

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I'm aware of the €12,500 AWV-Meldepflicht - am currently transferring UK savings to my German account in multiples of €10K - but as I recently had to open a new German PayPal account (to replace my UK PayPal account) I have to validate my German account, so PayPal did the usual transfer of €0.01 = 1 cent with a PIN - and lo and behold on my   Sparkasse statement was the following:

 

GUTSCHRI­FT
EBAY EUROPE SARL 15 RUE NOTRE DAME
AWV-­MELDEPFL­ICHT BEACHTEN HOTLINE BUNDESBA­NK (0800) 1234-111

 

Can anyone explain why this is being flagged up as AWV-­MELDEPFL­ICHT - especially as it is exactly €12,499.99 below the threshold?

 

Bizarre!!

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I cannot believe this either. What a ridiculous system glad to be leaving

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