Bringing $30K US into Thailand

[bwpage3]

My family, three of us, are coming to Thailand.

 

All US citizens for a 2 week stay.

 

What is the best way to bring in US $30K other than carrying in cash?

 

We will be in the rural boondocks of Isaan, so I question whether travelers checks would be a means?

 

Also we do not have a bank account in Thailand.

 

Thank you

[saengd]

A pre-loaded credit card perhaps?

[HuskerDo]

$30,000 US dollars for a two week stay for three people. That is going to be one wild party. Can we all come? 

[Tedly]

10 hours ago, HuskerDo said:

$30,000 US dollars for a two week stay for three people. That is going to be one wild party. Can we all come? 

My thoughts exactly. a lot of money for 2 weeks!

[HuskerDo]

7 minutes ago, Tedly said:

My thoughts exactly. a lot of money for 2 weeks!

If there is suddenly a large drop in the number of bar girls in Pattaya for a couple of week I have a sneaking suspicion where they might be. 

[Captain 776]

Why would you be bringing $30,000 to be in Thailand for two weeks my wife and I don’t spend that to be here for a year and one thing you can do or you could just send it to me and then I’ll send it to you as you need it I wouldn’t do that for just anybody but I’d be happy to do it for you

[sfokevin]

Each of the three of you carry $10k... Individually you are below the $20k threshold of reporting... Have a good time...

[runamok27]

Charles Schwab high yield investor checking account.

 

You get an ATM card that can be used in Thailand and they refund all of the ATM fees you'll pay in Thailand getting the money out. For $30K in 2 weeks you're going to need 2 accounts because there is a limit of $1000 of withdrawals per day. The account is free so that shouldn't be a problem.

[topt]

21 minutes ago, sfokevin said:

Each of the three of you carry $10k... Individually you are below the $20k threshold of reporting... Have a good time...

Apparently that threshold was reduced to $15k a while ago now - there was a thread on it somewhere........

Strangely  most of the English language Thai gov. websites don't appear updated but it is mentioned here -

https://www.export.gov/article?id=Thailand-foreign-exchange-controls

[stropper]

just bring it in cash, declare at airport, 30k is stuff all i have been bringing 100ks in for years, better exchange rate  at gold shops in isssan and so much security at the airport , and no one knows what you have got here !

Edited December 3, 2019 by stropper
new

[Moonlover]

18 hours ago, saengd said:

A pre-loaded credit card perhaps?

I think what @saengdmeans are pre-loaded or prepaid debit cards.

 

You don't have open an account, you purchase the card, load it up with money and use it just as you would a normal debit card. The ones I've used have been Visa cards so you can also use them for store purchases etc. They are, in reality, the 21st century equivalent of traveler's checks. Here's a website that gives more info about them.

 

https://www.thebalance.com/best-prepaid-debit-cards-4160419

 

Enjoy your trip.

 

 

Edited December 3, 2019 by Moonlover

[saengd]

21 minutes ago, Moonlover said:

I think what @saengdmeans are pre-loaded or prepaid debit cards.

 

You don't have open an account, you purchase the card, load it up with money and use it just as you would a normal debit card. The ones I've used have been Visa cards so you can also use them for store purchases etc. They are, in reality, the 21st century equivalent of traveler's checks. Here's a website that gives more info about them.

 

https://www.thebalance.com/best-prepaid-debit-cards-4160419

 

Enjoy your trip.

 

 

No, I meant a pre-paid credit card. If you add funds to your credit card so there's a positive balance there are no charges, even for a cash advance.

[Moonlover]

9 minutes ago, saengd said:

No, I meant a pre-paid credit card. If you add funds to your credit card so there's a positive balance there are no charges, even for a cash advance.

Oh I see, understand. I've never used that method. Folks do, of course often confuse debit cards and credit cards.

 

Edited December 3, 2019 by Moonlover

[saengd]

5 minutes ago, Moonlover said:

Oh I see, understand. I've never used that method.

It's one of the oldest ways of transfering money from A to B and getting decent and free exchange rates, a tip courtesy of Naam.

[Moonlover]

12 minutes ago, saengd said:

It's one of the oldest ways of transfering money from A to B and getting decent and free exchange rates, a tip courtesy of Naam.

I don't travel abroad much anymore, but thanks for the tip, just in case!

[sfokevin]

4 hours ago, saengd said:

It's one of the oldest ways of transfering money from A to B and getting decent and free exchange rates, a tip courtesy of Naam.

Not sure I would like to walk into a rural Issan bank and try to do this without a good ability to speak Thai....

[Dan747]

8 hours ago, stropper said:

just bring it in cash, declare at airport, 30k is stuff all i have been bringing 100ks in for years, better exchange rate  at gold shops in isssan and so much security at the airport , and no one knows what you have got here !

Better exchange rate  at gold shops in isssan-Where??

[torturedsole]

4 hours ago, saengd said:

If you add funds to your credit card so there's a positive balance there are no charges, even for a cash advance.

If I tried that pre-loading trick with my UK Halifax Clarity credit card then I'd reasonably expect them to shut my account.  Too much risk for minimal gain and specifically against the T&Cs so worth checking the T&Cs before pulling that one.  Fantastic card for abroad, btw.  

 

Also bear in mind that if you rely on one card for the whole 30k and, for whatever reason, it doesn't work when you get here then what are you going to do?  Always have a backup, preferably multiple backups.  

 

Edited December 3, 2019 by torturedsole

[saengd]

35 minutes ago, sfokevin said:

Not sure I would like to walk into a rural Issan bank and try to do this without a good ability to speak Thai....

You would load up your card at home, thereafter you are making purchases or cash advances, both very straight forward.

[saengd]

12 minutes ago, torturedsole said:

If I tried that pre-loading trick with my UK Halifax Clarity credit card then I'd reasonably expect them to shut my account.  Too much risk for minimal gain and specifically against the T&Cs so worth checking the T&Cs before pulling that one.  Fantastic card for abroad, btw.  

 

Also bear in mind that if you rely on one card for the whole 30k and, for whatever reason, it doesn't work when you get here then what are you going to do?  Always have a backup, preferably multiple backups.  

 

All the issuers know about this and I've yet to hear of any that have a problem with it, after all, they are get free use of your funds, they know you;re not a credit liability plus they know you're going to transact and that they'll make money as a result, what;s not to like.

[torturedsole]

6 minutes ago, saengd said:

All the issuers know about this and I've yet to hear of any that have a problem with it, after all, they are get free use of your funds, they know you;re not a credit liability plus they know you're going to transact and that they'll make money as a result, what;s not to like.

And risk the possibility that next time you require to pay for a service or pull cash from the ATM and computer says no?  I wouldn't risk it as there's another workaround and that's the mobile app or online banking.  Once the debit appears on the app/online banking then settle immediately and you're in hock to the credit card provider for mere pennies.  

 

Edited December 3, 2019 by torturedsole

[sfokevin]

42 minutes ago, saengd said:

You would load up your card at home, thereafter you are making purchases or cash advances, both very straight forward.

Load up $30k USD on a throwaway credit card and head up into the hinterlands of Issan and tell us how you make out... 

[bwpage3]

No place to use a credit card where we are going.

 

The main issue I was concerned with is carrying cash and something happening.

 

This is money for my wife's clan.

 

 

[brianthainess]

On 12/4/2019 at 4:16 AM, bwpage3 said:

No place to use a credit card where we are going.

 

The main issue I was concerned with is carrying cash and something happening.

 

This is money for my wife's clan.

 

 

So if your wife is Thai does she not have a thai bank account, or is there nobody in her clan you can trust ?

[bwpage3]

1 hour ago, brianthainess said:

So if your wife is Thai does she not have a thai bank account, or is there nobody in her clan you can trust ?

She is a US Citizen now and has no Thai Bank account.

 

I am not worried about her family only driving 8 hours there from the airport 

[Berkshire]

On 12/5/2019 at 10:55 AM, bwpage3 said:

She is a US Citizen now and has no Thai Bank account.

 

I am not worried about her family only driving 8 hours there from the airport 

If the money is for her family, your wife should obtain the bank info and you wire them the money.

If you need funds while in Thailand, just use your US ATM card.  Should work everywhere.