Foreign cash carried into TL for funding 800k baht account

[Genericnic]

Hi all.

 

I am planning on bringing back cash (US$) from the US in January to convert to baht and deposit in my Thai bank account to satisfy the financial requirements for converting a visa exempt entry to a non-O visa based on retirement. The most recent notice I have seen at Chiang Mai immigration (from last year) is a requirement for "A document proving foreign remittance." Since I will have the customs declaration from when I enter the country and will have the receipt for converting the dollars to baht and then depositing the baht in my bank account, I will have set of documents showing foreign funds entering the country and going into my account. I am just curious is anyone else has successfully done the same thing and used those documents to satisfy immigration requirements. I have seen a couple of posts that indicated it had been done but those were a couple of years old. 

 

Anyone have any experience with this, especially at the Chiang Mai immigration office?

 

Thanks

 

David

[amykat]

Not sure why you would take the risk to travel with this cash.  XXXX  stole my wallet and a few other valuables when I was moving out of the country, and they may have thought I was traveling with a lot of cash.  They went to a great effort to delay me, make up a ruse, surround me with 5 employees for 30-60 minutes, etc.  You have to file reports to the US anyway on your taxes.  
 

My daughter saw them in my bag ...no joke.

[amykat]

By the way, I was thinking if I didn’t complete my bank transfers from my house sale that I would be traveling with a large amount of cash and I had a body bag thing to accommodate that, because no way was I going to put that through X-ray machines, or sitting around ....but I got all my money sent home.

[ericthai]

OP why dont you just do a wire transfer?  

[Genericnic]

Just now, ericthai said:

OP why dont you just do a wire transfer?  

Mainly because I hate the US$400-500 loss due to wire fees and terrible conversion rates at the Thai bank I use. I can do a couple of weeks of travel in Thailand/Laos/Cambodia on my motorcycle for that amount.

 

David

[AlexRich]

Are you going to walk about $26,000 US into Thailand? I'd probably wire transfer also ... I'd be afraid they'd confiscate it and I'd have to go through the rigmarole of proving it's source and authenticity. Good luck whatever you do. Bring some documentary evidence of where it came from.

[Roy Baht]

Carrying that much cash is a really bad idea and it will most likely not be viewed by Thai IO as a proper international transfer. A large amount of USD cash is no proof in itself that it came from a legitimate source in the United States.  The customs declaration from when you enter Thailand and the receipt from converting the dollars to baht gives no indication of where your money came from.  Consequently, they will most likely view you as a money launderer. Meanwhile, if you carry more than $10K cash out of the US, you are required by law to make a declaration with US Customs and Border Protection. If you do not do so, and they find the cash on you as you leave the country, they will confiscate your money. If you do declare the cash to US Customs and Border Protection, they will most likely view you as a money launderer. There are many ways to transfer money cheaply and receive a good exchange rate. In fact, your ridiculous excuse for not doing so ("I hate the US$400-500 loss due to wire fees and terrible conversion rates at the Thai bank I use") makes me view you as (most likely) a money launderer.
 

 

 

[Genericnic]

7 minutes ago, Roy Baht said:

Carrying that much cash is a really bad idea and it will most likely not be viewed by Thai IO as a proper international transfer. A large amount of USD cash is no proof in itself that it came from a legitimate source in the United States.  The customs declaration from when you enter Thailand and the receipt from converting the dollars to baht gives no indication of where your money came from.  Consequently, they will most likely view you as a money launderer. Meanwhile, if you carry more than $10K cash out of the US, you are required by law to make a declaration with US Customs and Border Protection. If you do not do so, and they find the cash on you as you leave the country, they will confiscate your money. If you do declare the cash to US Customs and Border Protection, they will most likely view you as a money launderer. There are many ways to transfer money cheaply and receive a good exchange rate. In fact, your ridiculous excuse for not doing so ("I hate the US$400-500 loss due to wire fees and terrible conversion rates at the Thai bank I use") makes me view you as (most likely) a money launderer.
 

 

 

LOL. If I was a money launderer, I would not be bringing it in myself. I would find some unsuspecting soul to do it for me. As for proof of where it came from, I am pretty sure the documentation from TD Ameritrade account would be sufficient. And yes, the funds would be declared in both the US and Thailand.

 

David

 

[amykat]

It is a lot of risk for a small payout.  Travel from the US is long and exhausting, sometimes we make stupid mistakes.  You could be delayed on a stop for a day somewhere.  You could be in a taxi accident and money disappears.  I’m pretty sure you won’t be going to a bank directly from the airport?  Will it be a weekend when you arrive?  Do you have an account open already?  What if you get stuck walking around with cash for a week because you can’t put it anywhere?  I don’t know your circumstances but if you worry about this small cost, how will you feel if you lose it all?  That is what I think about when I decide.

[david555]

If you bring it cash, better declare it to Thai customs , as then you get official declaration form with that you can deposit on Thai bank and handled as foreign money coming from abroad in your account , and no problem with Immigration to prove it came from abroad and not from inside source Thailand 

 

More people bring cash , but not all throw in on a forum , that is why you think to be the only one, just pack it safe close to your body , and when  passing security lock your hand luggage with padlock(so I do all the time when flying  , they don't need to open it , x-ray can see inside if you don't have forbidden things like a nail clipper or a bottle water in it  (555)  

[Genericnic]

11 minutes ago, david555 said:

If you bring it cash, better declare it to Thai customs , as then you get official declaration form with that you can deposit on Thai bank and handled as foreign money coming from abroad in your account , and no problem with Immigration to prove it came from abroad and not from inside source Thailand 

 

More people bring cash , but not all throw in on a forum , that is why you think to be the only one, just pack it safe close to your body , and when  passing security lock your hand luggage with padlock(so I do all the time when flying  , they don't need to open it , x-ray can see inside if you don't have forbidden things like a nail clipper or a bottle water in it  (555)  

Thanks. You answered my question. I was reasonably sure that the Thai customs declaration would fit the bill.

 

David

 

[BertM]

1 hour ago, Genericnic said:

I am planning on bringing back cash (US$) from the US in January to convert to baht and deposit in my Thai bank account to satisfy the financial requirements for converting a visa exempt entry to a non-O visa based on retirement.

Bad idea. There is a $10,000 USD limit on carrying money out of the US without reporting it to US customs and $20,000 limit on bringing into Thailand without reporting to Thai customs. You would need about $27,000 USD to convert for the 800k THB that's required, so it would be better just to bring enough to open an account and then pay the ~ $50 international wire transfer fee once your account is open. That way you will have proof the money came from abroad. If the reason for bringing that much cash is because it hasn't been reported in US for tax purposes and you bring it thru US customs and by chance you get stopped, then you will have a difficult time explaining to them where that cash came from.

Edited December 1, 2019 by BertM

[david555]

1 minute ago, Genericnic said:

Thanks. You answered my question. I was reasonably sure that the Thai customs declaration would fit the bill.

 

David

 

The more worry thing is the other part of the trip , the leaving country control , keep in mind that from 9999 Euro  or GBP  you can be asked  A) from where origin  B) if higher must fill in special form declaring  it …. before leaving border control to airside

Money sniffer dogs exist  you know.... as experienced them at Schiphol  , no problem as documents with me 

[david555]

2 minutes ago, BertM said:

Bad idea. There is a $10,000 USD limit on carrying money out of the US without reporting it to US customs and $20,000 limit on bringing into Thailand without reporting to Thai customs. Do you really want to report to customs? You would need about $27,000 USD to convert for the 800k THB required, so it would be better just to bring what's needed to open a bank account and then pay the international wire transfer fee once your account is open. I brought $9,900 USD when I first came over to make the initial deposit when opening my Citibank Thailand account because at the time, they required 200k THB minimum to open account. But, most Thai banks only require a small amount to open accounts.

15000 USD value is the limit now undeclared , before it was 20000 USD , but changed , unless they changed it now again ? ..

For Europe remember it is not 10 000 € , every customs ask always if you have 10 000 or more with you , little trick in that law as from 10 000 you need to declare …. 9999€ not , but be warned  your forgotten pocket coins could trick you over the limit ...

[ThomasThBKK]

38 minutes ago, Genericnic said:

LOL. If I was a money launderer, I would not be bringing it in myself. I would find some unsuspecting soul to do it for me. As for proof of where it came from, I am pretty sure the documentation from TD Ameritrade account would be sufficient. And yes, the funds would be declared in both the US and Thailand.

 

David

 

 

Not an issue, did it multiple times. Just declare it on both sides.

I also do it domestic, never an issue, thai/us customs and airport security couldn't care less, the only risk is they might want to steal it, so be careful.

[Genericnic]

Thanks for all the replies.

 

Mods feel free to close the topic now. Question has been answered.

 

David

 

[BertM]

47 minutes ago, Genericnic said:

LOL. If I was a money launderer, I would not be bringing it in myself. I would find some unsuspecting soul to do it for me. As for proof of where it came from, I am pretty sure the documentation from TD Ameritrade account would be sufficient. And yes, the funds would be declared in both the US and Thailand.

 

David

 

If the money was reported and came from your TD Ameritrade account, then I don't understand why you would want to bring $27,000 in cash when you can simply make an international wire xfer for less that $50 USD after your Thai bank account/s are open. I don't pay any wire xfer fees with Chase bank. I send USD to my Citibank Thailand USD account and then convert to THB at my convenience. So, I don't understand your reasoning, but you must have one for risking bringing that much cash when it's not necessary.

[amykat]

I’m wondering if he is making the mistake of converting to Thai baht in the US before sending the money to Thailand, that is why he quotes such high charges??  Do you know you should and can send the money in dollars to Thailand then convert to Baht at the destination ???  You get a much better rate.

[prchunter]

51 minutes ago, amykat said:

I’m wondering if he is making the mistake of converting to Thai baht in the US before sending the money to Thailand, that is why he quotes such high charges??  Do you know you should and can send the money in dollars to Thailand then convert to Baht at the destination ???  You get a much better rate.

Thai Banks give horrible exchange rates so you lose about 2-5% on a wire transfer compared to the cash exchange rate at Super Rich.  

[G950]

You can legally bring up to USD 20,000 into Thailand without declaring it. Lots of people bring that amount in every trip.

 

At Superrich changing $20k won't be out of place. I have stood at counter with people changing 5 times that amount on a regular basis. 

[ericthai]

OP you might want to check into getting the Non-O in the US before you leave. You can get a 1 year mulit-entry. If you work things right you can get 15 months out of it. 

[Genericnic]

2 minutes ago, ericthai said:

OP you might want to check into getting the Non-O in the US before you leave. You can get a 1 year mulit-entry. If you work things right you can get 15 months out of it. 

They do O-A visas in the US but not Non-Os based on retirement.

 

David

 

[Genericnic]

20 minutes ago, G950 said:

You can legally bring up to USD 20,000 into Thailand without declaring it. Lots of people bring that amount in every trip.

 

At Superrich changing $20k won't be out of place. I have stood at counter with people changing 5 times that amount on a regular basis. 

Agreed. I've been using Superrich in Bangkok for almost 20 years.

 

David

 

[Maestro]

Removed an off-topic post. The OP, Genericnic, made it clear that he does not want a non-immigrant visa category O-A but a non-immigrant visa category O.

[elviajero]

5 hours ago, Genericnic said:

I am just curious is anyone else has successfully done the same thing and used those documents to satisfy immigration requirements.

I don’t see why they wouldn’t be accepted. But, personally, I wouldn’t take the chance. A transfer is the sensible move.

[PeteDaKat]

Have you explored TransferWise? To compare, I plugged in US$26,750 to receive ~฿802K and the fee was $183.00

[Olmate]

15 minutes ago, farangchuma said:

40-baht soups from unhygenic street vendors and 6000-baht dump. 

Do you just cut n paste this comment to various threads ?

[gamb00ler]

7 hours ago, G950 said:

You can legally bring up to USD 20,000 into Thailand without declaring it. Lots of people bring that amount in every trip.

 

At Superrich changing $20k won't be out of place. I have stood at counter with people changing 5 times that amount on a regular basis. 

 

6 hours ago, Genericnic said:

Agreed. I've been using Superrich in Bangkok for almost 20 years.

Last time I needed to exchange 20K$ I went to the Lad Phrao branch of Superrich because I lived close.  They were able to handle it that day but said normally they wouldn't be able to and suggested calling ahead.  The main BKK branch of Superrich wouldn't be a problem.

Edited December 2, 2019 by gamb00ler

[ubonjoe]

11 hours ago, Genericnic said:

The most recent notice I have seen at Chiang Mai immigration (from last year) is a requirement for "A document proving foreign remittance."

The requirements to apply for a non immigrant visa based upon qualifying for an extension of stay based upon retirements states this.

"5.3 Evidence of foreign currency fund transferred to Thailand"

Source: https://division1.immigration.go.th/download/1551323081128.pdf It is the same on the main immgiration website as well.

I have seen several reports of immigration strictly enforcing that requirement and not accepting a foreign currency declaration done on entry to the country.

 

[Olmate]

5 minutes ago, farangchuma said:

Yes, very effective in remindng people who they are and their hypocirisy

Yes certainly worked well for you in your  recent/now closed agent usage thread!