FET not possible with TransferWise

[NCC1701A]

so how much non-FET cash can I walk out of Thailand with at the border?

[Captor]

10 minutes ago, NCC1701A said:

so how much non-FET cash can I walk out of Thailand with at the border?

50 000 USD or equal/year.

[Captor]

TransferWise now has this border less account. I don´t know how that works. Would that be a solution? It sounds very good however. Almost too good...

 

https://www.thethailandlife.com/transferwise-borderless-account-review?omhide=true&utm_source=TheThailandLife&utm_campaign=36bb3f2fbf-THAI_BITES_19_2018_24_08&utm_medium=email&utm_term=0_83cf51b727-36bb3f2fbf-1204538805

 

[simoh1490]

31 minutes ago, Captor said:

TransferWise now has this border less account. I don´t know how that works. Would that be a solution? It sounds very good however. Almost too good...

 

https://www.thethailandlife.com/transferwise-borderless-account-review?omhide=true&utm_source=TheThailandLife&utm_campaign=36bb3f2fbf-THAI_BITES_19_2018_24_08&utm_medium=email&utm_term=0_83cf51b727-36bb3f2fbf-1204538805

 

 

 

Transferwise, borderless or otherwise, can't export funds out of Thailand, in bound yes, outbound not.

[simoh1490]

37 minutes ago, Captor said:

50 000 USD or equal/year.

"There is no limit on the amount of Thai baht bank notes that may be brought into the country. A person traveling to Vietnam, the People's Republic of China (only Yunnan province) and Thailand's bordering countries is allowed to take out  up to THB 2,000,000. A person traveling to other countries is allowed up to THB 50,000.

Any person bringing into or taking out of Thailand Thai baht bank notes, foreign currency bank notes or negotiable monetary instruments in an aggregate amount exceeding 450,000 Baht or USD 15,000 or its equivalent must declare to a customs officer."

 

https://www.bot.or.th/English/FinancialMarkets/ForeignExchangeRegulations/FXRegulation/Pages/default.aspx

[Captor]

1 hour ago, simoh1490 said:

"There is no limit on the amount of Thai baht bank notes that may be brought into the country. A person traveling to Vietnam, the People's Republic of China (only Yunnan province) and Thailand's bordering countries is allowed to take out  up to THB 2,000,000. A person traveling to other countries is allowed up to THB 50,000.

Any person bringing into or taking out of Thailand Thai baht bank notes, foreign currency bank notes or negotiable monetary instruments in an aggregate amount exceeding 450,000 Baht or USD 15,000 or its equivalent must declare to a customs officer."

 

https://www.bot.or.th/English/FinancialMarkets/ForeignExchangeRegulations/FXRegulation/Pages/default.aspx

Oh..sorry, I was wrongly thinking about transferring money. Not walking through the border with money in the pocket.

Declare to a customs officer... and what happen after that? Any tax or something if bringing over the limit to Thailand?

[simoh1490]

3 hours ago, Captor said:

Oh..sorry, I was wrongly thinking about transferring money. Not walking through the border with money in the pocket.

Declare to a customs officer... and what happen after that? Any tax or something if bringing over the limit to Thailand?

There is no limit to the amount of inbound money, my previous post corrected the earlier statement about the limit of outbound non-FET money.

[HampiK]

4 hours ago, Captor said:

Oh..sorry, I was wrongly thinking about transferring money. Not walking through the border with money in the pocket.

Declare to a customs officer... and what happen after that? Any tax or something if bringing over the limit to Thailand?

You only declare it for example at the airport. there you will receive an receipt. Not sure this can be used same as an FET or can be exchange for an FET. There is no additional fee. I used this already a few times. The advantage is, that you can exchange the money later when there is a good day with a good exchange rate at for example superrich1965.

The only disadvantage is that you have maybe a lot of cash with you. So it's an advantage when you have an currency with big notes (e.g. Swiss 1'000 CHF equals about 33'000 Baht) not need a lot of space. even can be hidden somewhere at your body so other people not see the money therefore not need to scare too much that someone steal it.

[KittenKong]

On 8/29/2018 at 5:34 AM, Langsuan Man said:

If you are talking anything other than a condominium in the foreign quota then you are not authorized an FET .  Just because you can prove that money comes from your home country that gives you no right to take it back out.  Once funds are here,  they stay here,  unless you have complied with the foreign exchange laws  

Completely incorrect.

 

It makes no difference at all what you use your money for or why you send it here. An FET will be issued on request as long as you have imported foreign currency and exchanged it for Baht, regardless of what you intend to do with it. And you can use that FET to export up to the same amount later, regardless of what you did with it in the meantime.

 

You also need an FET in order to buy a condo in foreign name, but that is for different reasons.