What is the safest way to carry large amounts of money while traveling?

Question

Hi,

My father has a bank account in South America that is now holding 41,000 USD. He will personally be going to this bank in SA to close the account, and he intends to bring the money to the US and deposit it into his checking account here.

My question: Excluding a bank to bank transfer, what is the safest way he can bring back the 40K? (The bank in South America would charge him 1,000 USD for the transfer, which is why we want to avoid this if possible and explore alternatives.)

When I've traveled overseas, I've carried American Express traveler's checks instead of money, but for such a large amount, I don't know what is the best route to take.

Thank you in advance.

Answer 1

The gangster types that carry the silver combination briefcase with built in hand cuffs attached to their wrist come to mind. My opinion is to keep it totally secret and never let it go for a second. Flying would be tricky as they may question a bag full of money. Contacting a major airline and asking them security tips for transporting large sums of money may be an idea. You may have to proove where the money came from.

Answer 2

That is really tough to answer, being a banker here in the US, and knowing little about banking in South America. But if it were here, and I assume that South American banks have an analogous system, banks offer certified/cashier's checks. This is a check that is paid for when issued and has a value as an actual check, as opposed to a personal check, which needs to be cleared. If they can issue him a certified/cashier's check, that would be ideal as it can be carried in a simple envelope on his person. I would ask them if they can issue him an instument like that. He doesn't want to carry cash. And it amazes me they want to charge so much for a wire transfer. Call them and ask another bank employee about the cost, the one you talked to may have been very mistaken.