KSA banks and US banks

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Member since 20 March 2016

JohnDamonNew member22 March 2016 00:57:14

I am coming over to KSA and would like to find out how banking works with all paychecks go thru KSA bank.

I have JP Morgan Chase in US.

Thank you.

John

stressedmom Serial expat

Member since 05 April 2013

stressedmomSerial expat22 March 2016 05:00:25

661

You have to get a bank account here which is not connected to any US banks. You then can do a wire transfer to your US bank each month for no more than $9,999 (per US tax laws).

That is what we do.

Other then the other Guest

Other then the otherGuest22 March 2016 06:35:33

214245

stressedmom wrote:
You have to get a bank account here which is not connected to any US banks. You then can do a wire transfer to your US bank each month for no more than $9,999 (per US tax laws).

That is what we do.

How much the taxes?

stressedmom Serial expat

Member since 05 April 2013

stressedmomSerial expat22 March 2016 07:36:33

661

What do you mean how much the taxes????

In the US if you transfer more than that amount a month the bank alerts the IRS of the money transfers. If you are filing your taxes each year it is not that big a deal, but if you are an expat and not paying your taxes you will be in trouble with the IRS.

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