Expat Community > Algeria

adam686
Joined 2014
Posts: 1

Transferring money out of the country (Inheritance)

10 years ago

Hello!

I'm wondering if anyone has any experience or advice with regards to getting sizable amounts of money out of Algeria and into the US. (let's say the equivalent of $500,000+ USD; or > 50,000,000 Algerian Dinars worth). We inherited this money and would like to be able to access it (we are currently living in the US). I'm very clueless about how the banking system in Algeria works, but from what I gather the infrastructure is very "primitive". So how can one go about converting this money into USD and getting it to a US bank account safely and legally? I noticed that Citibank and HSBC do appear to operate in the country - does anyone have any experience trying to get this done through them? I'm used to the US banking system where you can just show up with cash and make things happen - but it seems like Algerian Dinars are not well-recognized currency outside of the country.

So basically: Have a lot of Algerian Dinars in Algeria. Interested in getting them converted to USD and transferring them out of the country (to the US). Any thoughts/suggestions/insights? I'd greatly appreciate any experience which could be shared on the subject!

Thank you very, very much for your time!

-Adam

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