Limit for removing thai baht

[baneko]

 

I am heading to work today. Is it worth taking thai baht and changing it in the UK for pounds?

 

Is there a limit I can take out of the country?

 

Thanks

 

Sent from my SM-G975F using Thailand Forum - Thaivisa mobile app

 

 

 

 

[joy16]

Maximum Thai Baht that you can bring to the UK is 50,000 THB.

[blackcab]

11 hours ago, baneko said:

Is there a limit I can take out of the country?

 

As stated above, the limit for taking baht to the UK is 50,000 baht.

 

11 hours ago, baneko said:

Is it worth taking thai baht and changing it in the UK for pounds?

 

Absolutely not. You are guaranteed to lose money. Change baht to pounds in Thailand, at Vasu or Super Rich exchanges.

 

Today, Vasu are selling at 38 baht. That means 50,000 baht would get you 1,315 pounds. The UK Post Office is buying at 43.5294. That means the same 50,000 baht would get you 1,148 pounds, or 167 pounds less.

 

As you can see, taking baht to the UK will lose you well in excess of 10 per cent of what you could achieve in Thailand.

 

(Don't forget to take your passport to the Thai exchange).

[FracturedRabbit]

The limit for taking baht out of the country is indeed 50,000, but as mentioned, you don't want to take baht. There is no limit to the amount of foreign currency you can take out of the country, but if it is more than 20,000 USD equivalent then you have to declare it at the airport.

The limit for taking cash into the UK without declaration is 10,000 Euros equivalent; which is more restrictive than the Thai export limit.

[blackcab]

55 minutes ago, FracturedRabbit said:

...but if it is more than 20,000 USD equivalent

 

The reporting limit has been decreased to 15,000 USD.

[FracturedRabbit]

2 hours ago, blackcab said:

 

The reporting limit has been decreased to 15,000 USD.

Which is still higher than the UK inward allowance.

[patsfangr]

Does that limit also apply to wire transfers from a Thai bank to a foreign bank? If so, is there a minimum time between transfers applied?

[Don Mega]

30 minutes ago, patsfangr said:

Does that limit also apply to wire transfers from a Thai bank to a foreign bank? If so, is there a minimum time between transfers applied?

I think the wire transfer is 500k per transaction.

[FracturedRabbit]

General rule seems to be 200k baht per transaction limit, and no more than 800k per day using online banking. 

[oobar]

2 minutes ago, FracturedRabbit said:

General rule seems to be 200k baht per transaction limit, and no more than 800k per day using online banking. 

What about wire transfer from the Thai bank?

[ryane66]

I use Transferwise to bring money into Thailand from Canada. Can this service be used to transfer money from Thailand to USA or Canada?

[paahlman]

42 minutes ago, Don Mega said:

I think the wire transfer is 500k per transaction.

Bangkok bank have a limit of not reporting at 800 000 a year ago at least....

[FracturedRabbit]

9 minutes ago, ryane66 said:

I use Transferwise to bring money into Thailand from Canada. Can this service be used to transfer money from Thailand to USA or Canada?

No.

[Pdavies99]

The limit for taking baht to the UK is 50,000 baht.

 

You will get a very poor rate if you try to exchange Thai Baht in the UK.

 

Far better to change in Thailand into sterling.

Edited July 31, 2019 by Pdavies99

[blackcab]

1 hour ago, patsfangr said:

Does that limit also apply to wire transfers from a Thai bank to a foreign bank? If so, is there a minimum time between transfers applied?

 

The 15,000 USD limit is for hand carrying cash out of Thailand. If you want to do a wire transfer out of Thailand there is a 50,000 USD threshold. Under 50,000 USD the transaction does not need to be referred to the Bank of Thailand. If you fulfil your retail bank's requirements to transfer funds abroad then that is all there is to it.

 

If you have to transfer more than 50,000 USD you can make a few transfers of less than 50,000 USD, spread out over a few days. If you have massively more to transfer out you may need to supply additional documentary evidence such as a TT3/FET form or customs declaration showing you imported the money or your work permit and PND91 forms showing you earned the money in Thailand and paid tax on the money.

 

If you can provide the proof there is no problem transferring the money out. Foreign people who sell their condominium units do this fairly frequently.

[oporhatch]

From the replies above ...I recently moved a sum of money here on the presumption that the UK pound would fall further against the Thai Bhat  

 

Therefore just to confirm  -  I should convert the money back to UK pounds , whilst in Thailand and then travel back with the money to the UK .  -  if my presumption comes off  

 

regards

  

[blackcab]

8 hours ago, oporhatch said:

From the replies above ...I recently moved a sum of money here on the presumption that the UK pound would fall further against the Thai Bhat  

 

Therefore just to confirm  -  I should convert the money back to UK pounds , whilst in Thailand and then travel back with the money to the UK .  -  if my presumption comes off

 

That will get you the best possible exchange rate. Don't forget to declare to Thai customs on the way out if you are carrying more than the equivalent of 15,000 USD and on the way in to the UK if you are carrying more than the equivalent of10,000 Euro.

 

See this topic for the procedure in Thailand:

 

 

[mrwebb8825]

On 7/31/2019 at 3:16 AM, blackcab said:

 

As stated above, the limit for taking baht to the UK is 50,000 baht.

 

 

Absolutely not. You are guaranteed to lose money. Change baht to pounds in Thailand, at Vasu or Super Rich exchanges.

 

Today, Vasu are selling at 38 baht. That means 50,000 baht would get you 1,315 pounds. The UK Post Office is buying at 43.5294. That means the same 50,000 baht would get you 1,148 pounds, or 167 pounds less.

 

As you can see, taking baht to the UK will lose you well in excess of 10 per cent of what you could achieve in Thailand.

 

(Don't forget to take your passport to the Thai exchange).

the only thing I would add to the advice above is buy the smallest denomination possible as it sells at a lower rate than the higher notes. When I took a short trip back to the states I bought 100,000 baht worth of $20s and $10s and traded them at a bank in the states for $100s. Paid for about 6-10% of my flight.