How Much Cash Can You Take Out Of The Uk?

[ThaiPauly]

Does anybody happen to know what the limit is? Or even if there is one?

Many Thanks

TP

PS I hope this is the right place to post this query?

[GuestHouse]

There are no limitations on how much money you can take out of the UK (provided it is yours of course).

You will however be required to give details of where you are sending the money to. I'm assuming here that you are not going to be shipping bags of cash.

If you are moving the money to Thailand, then for all sorts of reasons you would be very well advised to make sure you get thee official record of money transfer/reciept in Thailand.

How much it is wise to take out of the UK is the stuff of another post

[ThaiPauly]

I want to bring back 30k GBP in cash when I next go back to the UK to get a better exchange rate than my offshore bank will give me

[mackayae]

As much as Thaksin can bring in.

[peterjackson]

Hey

Just spoke to HMCE and the maximum CASH you are legally allowed to bring into the UK without declaring it, is £ 1000 or the equivalent in any other currency. Any larger amount requires a 'paper trail' that can be verified.

Strangely enough, you can bring in any amount of Travellers Cheques without declaration. I am sure of you happened to be stopped with a large amount, there would be questions asked.

There are now also strict deposit regulations in force in the UK, whereby the Financial Institution receiving the cash, are obligated in law to notify HMCE of cash deposits over certain limits.

Have a look around their website, lots of interesting information at www.hmce.gov.uk

Hope the above is of help to you.

Kind regards

Peter

[bkkandrew]

Hey

Just spoke to HMCE and the maximum CASH you are legally allowed to bring into the UK without declaring it, is £ 1000 or the equivalent in any other currency. Any larger amount requires a 'paper trail' that can be verified.

Strangely enough, you can bring in any amount of Travellers Cheques without declaration. I am sure of you happened to be stopped with a large amount, there would be questions asked.

There are now also strict deposit regulations in force in the UK, whereby the Financial Institution receiving the cash, are obligated in law to notify HMCE of cash deposits over certain limits.

Have a look around their website, lots of interesting information at www.hmce.gov.uk

Hope the above is of help to you.

Kind regards

Peter

Are you sure. I believe the max. value to be 10K...

[peterjackson]

Hey

Although I was shocked when the CSA told me the answer and she confirmed this with a Supervisor, I am certain that is now the case after speaking with them.

If you have any doubts, call them +44 (0) 2920 501 261 (option 3)

I know you can bring $ 10,000 into the US without separate declaration. Although with the Patriot Act declaration details, the limits on Cash into a bank account are lower in the US than those of the UK.

Kind regards

Peter

[GuestHouse]

Yes, that is correct, these are the same controls that require us to say where we are sending money _ I've just had to do that this lunch time when I sent money to my Thai bank.

But this is not a restriciton on how much you can move across the border, it just needs to be 'yours' - Which is part of the reason why they ask the questions.

[bkkandrew]

Hey

Although I was shocked when the CSA told me the answer and she confirmed this with a Supervisor, I am certain that is now the case after speaking with them.

If you have any doubts, call them +44 (0) 2920 501 261 (option 3)

I know you can bring $ 10,000 into the US without separate declaration. Although with the Patriot Act declaration details, the limits on Cash into a bank account are lower in the US than those of the UK.

Kind regards

Peter

The CSA (Child Support Agency) told you? Are you sure??

I thought it was 10K for cash deposits/money on person/travelling through borders... I am referring to cash (notes), not bank transfers.

[chonabot]

Hey

Just spoke to HMCE and the maximum CASH you are legally allowed to bring into the UK without declaring it, is £ 1000 or the equivalent in any other currency. Any larger amount requires a 'paper trail' that can be verified.

OP actually asked how much cash he could take out of the UK.

[gummy]

Hey

Just spoke to HMCE and the maximum CASH you are legally allowed to bring into the UK without declaring it, is £ 1000 or the equivalent in any other currency. Any larger amount requires a 'paper trail' that can be verified.

OP actually asked how much cash he could take out of the UK.

Yes he did and as what has been said before, there is no limit. However a significant amount of cash will show up in your hand baggage and you may be asked to account for it. Therefore if you withdrew the money from a UK bank then I suggest you keep your stub of the withdrawal slip as it will demonstrate that it was from your own account. You may not be asked but be prepared to answer the question just in case. Once in Thailand do you intend to deposit it in your bank here at one time? Again if you do it is no problem but you will be asked to state where it is from and what it is for as per the banks normal routine process. Again no problem just procedure.

[peterjackson]

Hey

My apologies for misreading the Thread Title.

I hope my research helps anyone wanting to bring CASH into the UK.

CSA = Customer Service/Support Agent........although I am a British Citizen, having lived here in the USA for several years, you tend to speak in 'local' terminology. Hope that clears tht point.

Kind regards

Peter

Edited March 9, 2007 by peterjackson

[Mahout Angrit]

How do you intend to get it, just popping in to the bank and filling out a withdrawal slip?

Last year I asked my offshore bank "If I come over to Jersey how much cash could I draw out and take with me before it raised a few eyebrows" and his reply was "about £6000" he suggested I wouldn't be allowed to walk out with £30,000 so I never tried it.

[farangsay]

Actually as the OP has announced on a public forum his intention of arriving in LOS

with wodges of cash he could go the extra mile and give details of flight ,

arrival etc. There are many needy people who would welcome the opportunity

to enhance their financial situation.

[bkkandrew]

Actually as the OP has announced on a public forum his intention of arriving in LOS

with wodges of cash he could go the extra mile and give details of flight ,

arrival etc. There are many needy people who would welcome the opportunity

to enhance their financial situation.

A bit harsh. Many people fly in with GBP 5K - 10K and suffer no problems. I think that the OP was referring to flights into UK and I can attest that it is an immigration requirement for at least GBP 1K (cash, TC's, space on CC's etc.) to be allowed entry, so anticipate no issues. Would like a direct link to the ruling the OP cited though...

Edited March 9, 2007 by bkkandrew

[ThaiPauly]

Thanks for the replies folks..even though there seems to be differing opinions.

The cash is for a Condo purchase...I just want to make sure that I dont get hit with any 30% witholding taxes or very poor exchange rates made during a wire transfer..plus the bank charging money to make the transfer. I know that with the right documentation it should not be hit...but this is LOS and I dont trust the system.

From what I can gather from other sub-forums you can get a better rate for cash in Thailand than you can by making a wire transfer.

If this is not the case I would be happy to hear it.

Many Thanks

TP.

PS To those who may wish to greet me at the airport, my flight number is TG 911 and arrives at 3.30pm on April 32nd !!!

[twix38]

April 32nd nice?

You must bring in GBP and it must state that funds are for the purchase of a condo. There are Thai rules for receipt of foreign currency to buy a condo/house.

Funds must be sent in GBP, so you would get the onshore (better) exchange rate anyway.

I would do it properly and send the lot by swift with the required narrative on the transfer so your full funds can be used for a Condo purchese.

Finally I would buy mine in View Talay 2, Jomtien, Pattaya ;-)

[Ricardo]

Several months ago I was told, by the enhanced-level security-search guards in London, that they have instructions to call Customs (now part of the Infernal Revenue) whenever they find more than £5k in cash on an out-going passenger.

I suspect that quite a few longer-term tourists might be caught-out by this. Who needs the hassle ?

I would also confirm that I've made a couple of £10k bank-transfers to Thailand this winter, to be converted by my Thai bank when the money arrives, and not experienced any problem of 30% with-holding tax. And I did get the better inside-Thailand rate, which was some 80 satang per-pound better, than the cash-exchange-rate.

So maybe the OP should just make a couple of £10-15k transfers ? He will naturally be asked by his bank, under money-laundering rules, what the money is to be used for, and 'living-costs' was a perfectly-acceptable reason.

[ThaiPauly]

It's strange that I regularly used to get calls regarding what the money I was transferring was for...but I have not had one for my last five or six transactions !

wow I have just noticed that this is my 4,000th post !!

Taken me 3 years

Edited March 11, 2007 by ThaiPauly

[Soju]

TP, you should check what your cost is to get traveller's cheques rather than cash. TCs get a significantly better rate when cashing them in Thailand compared to cash, and obviously much safer. Check with your bank in the UK and see if they charge any fee for the TCs, and how much, then do the math and see which is better. I use TCs all the time being I can get them in Korea without any charge whatsoever.

If you did a wire transfer, as long as the transfer was sent as US Dollars, British Pounds, or whatever, and gets converted to Thai Baht at the receiving side (Thai bank), you should be getting whatever rate they quote, with most of the banks showing those rates on their websites, so there shouldn't be any chance there of getting a bad rate. I've sent wire transfers a few times and with larger amounts the rate is definitely better than TCs, even with the transfer charges. But that was before the new withholding rule.

What is the limit before they withhold some of your money? If it was me, I'd do a wire transfer just under that limit, and take the remainder in TCs.

[Badbanker]

As a British national and a bad banker I have extensive experience in this matter.  

Technically it acceptable to take as much cash money as you wish out of the UK.  This is provided that you have a paper trail to verify that it's nature is legitimate.  I have learnt from bitter experience that not only the origin must be clear, but the purpose for which it is to be used must be documented totally.

I had the unfortunate experience of losing GBP 20,000 in November 2006 that was seized from me 2 years ago, having been taken out of a Lloyds bank account I have had for 25 years.  I spent a further 10,000 quid in 2 levels of a British court trying to prove that the fact that I was not prepared to tell them where I was going to deposit the money.  This is not now my or your right anymore since 9/11.

I have since moved ALL of my money out of the UK in a clandestine manner and have vowed never to return.   No one will ever be able to tell me what or where to keep my money.

Beware the law on cash movement is explicitly onerous and you have no say.  Move everything offshore where people will respect your financial sovierenty.

I still have a very bitter taste in my mouth over this episode!

Badbanker

[flyer]

Hi Pauly,

Therfe is a new (recent) European directive that limits the amount of cash that can be taken 'free' with you out of a european airport. While UK is staying somehow outside the European Union, European directives about airports DO apply to UK airports as well.

The maximum amount you can tak with you 'free' when leaving a european airport is 5,000 EUro or its equivalent in other currencies. However you are allowed to take with you any (higher) amount if you meet the following conditions:

1. You must declare the amount of cash you carry with you.

2. You have credible evidence that the money has been obtained legally and that the amount of money you take with you is relevant with respect to the purpose of your journey. For example if you have evidence that you are emigrating to Thailand (or anywhere) and just sold your house in Europe for a lazy 200,000 £ we can assume that you would be allowed to travel with that money on you after you declared it and provided for the above evidence.

However i would very much question if it is safe to travel out of the airport in Thailand and from there until you get inside your thai bank to drop it... with large amounts of cash on you. Personally i am not going to try it.

[frankthetank]

here is the download from the HMRC site about the import/export of cash:

IMPORT/EXPORT OF CASH FOR THE U.K.

this will take you straight to the .pdf download

Edited March 11, 2007 by frankthetank

[ThaiPauly]

Thanks for all the assistance folks.

I know where I stand now

Cheers

TP