bringing money into Thailand

[jaidee669]

could anyone share their experience or procedures on bringing money into Thailand. I am aiming to get a retirement visa when the COVID situation dies down. I hear that you can bring in any amount of cash as long as you declare it at the airport. Is it as easy as that or might I face problems. It will be over the 10000 $ limit.

Thanks

Alan

[Upnotover]

If it helps, the limit is USD 20,000.  Whether easy or not I have no idea.

[ubonjoe]

If you already have a non-o visa to apply for the extension you send in anyway you want to or carry the money in.

If applying for the non-o at immigration you have to have proof it was transferred into the country. They will not accept anything other than proof from a Thai bank.

[farang51]

I would not bring a large amount in cash; even if there is no problem at the customs. You may forget the money in a taxi (they do not all bring it back), or a thief may steal the money.

I suggest opening a bank account when in Thailand and then wire the money. That will probably give you a better exchange rate too.

[4MyEgo]

1 hour ago, jaidee669 said:

I am aiming to get a retirement visa when the COVID situation dies down.

I don't believe that there is legal limit which can bring into Thailand, however, depending on the country you are departing from, you have to declare any amount over the limit, e.g. departing Australia, you have to declare anything over $10,000, as for Thailand, as I mentioned, I don't think you have to declare what money you are bringing in as long as you have declared it at your home country upon departure.

 

Once your in, then set up a bank account and use Transferwise, Thai immigration will want to see where your money is coming from to prove you have the funds in your account at least 3 months prior to applying for the visa and 400,000 of the 800,000 baht must remain in the account.

 

Good luck, your coming, I'm going ????

 

Edited June 16, 2020 by 4MyEgo

[Trillian]

There is no limit to the amount of money brought into Thailand, the Bank of Thailand rules  say:

 

"Foreign currencies can be transferred or brought into Thailand without limit.  Any person receiving foreign currencies from abroad is required to repatriate such funds immediately and sell to an authorized bank or deposit them in a foreign currency account with an authorized bank within 360 days of receipt, except for foreigners temporarily staying in Thailand for not more than three months, foreign embassies, international organizations including their staff with diplomatic privileges and immunities, and Thai emigrants who are permanent residents abroad or working abroad.

 

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

[Upnotover]

11 minutes ago, 4MyEgo said:

I don't think you have to declare what money you are bringing in as long as you have declared it at your home country upon departure.

Yes you do, over USD 20,000.

From IATA; ".....amounts of foreign currency exceeding USD 20,000.- (or equivalent) must be declared to a Customs Officer upon arrival by all travelers."

[Trillian]

If you do not declare the funds on arrival you will not be allowed to export them again when you leave.

[BritTim]

1 hour ago, farang51 said:

I would not bring a large amount in cash; even if there is no problem at the customs. You may forget the money in a taxi (they do not all bring it back), or a thief may steal the money.

I suggest opening a bank account when in Thailand and then wire the money. That will probably give you a better exchange rate too.

I have sympathy with much of your post, but bringing cash in a major currency and converting at SuperRich will give a considerably better exchange rate than alternatives.

[mr mr]

1 hour ago, farang51 said:

You may forget the money in a taxi (they do not all bring it back),

come on man think positive. we're due a good old cabbie returns a billion baht story. 

[Trillian]

The Super Rich rate for USD/THB cash notes is 31.05, the TT rate is 30.90, that means there's about 1 Baht and 15 satang difference between the best and the worst.  On 10k US that would amount to 11,500 Baht, plus sending and receiving charges. What price piece of mind and security?

 

https://daytodaydata.net/

[lukas550]

My advice is if you are carrying any bigger amount (even below the limit) make a stop at customs and report it. They will count your money and give you a document. Just in case that is the only legit proof that you don't work in Thailand but bringing cash from abroad :) 

[rvaviator]

Best to wire it I would say - Unless you are coming from a country which may make that difficult for some reason ...

 

Take note of this

 

 

[brenton]

Arriving from the States i carry just under 10k, the rest in crypto

[Martyp]

The thing you need to worry about is for the bank notes to be new and unblemished. No tears, missing corners, no significant wear, or writing on the notes. You will have great difficulty getting a bank to accept them otherwise. Currency exchanges might be more lenient but I don’t have much experience with them. Arrange with your home country bank to get brand new bank notes.

[dsj]

14 hours ago, Upnotover said:

If it helps, the limit is USD 20,000.  Whether easy or not I have no idea.

Actually they have changed it to USD 15,000.00

[Sophon]

13 hours ago, Trillian said:

The Super Rich rate for USD/THB cash notes is 31.05, the TT rate is 30.90, that means there's about 1 Baht and 15 satang difference between the best and the worst.  On 10k US that would amount to 11,500 Baht, plus sending and receiving charges. What price piece of mind and security?

 

https://daytodaydata.net/

The difference between 31.05 and 30.90 is only 0.15 THB/USD, so the difference on 10k USD would only be 1,500 THB.

[DrJack54]

16 hours ago, jaidee669 said:

I am aiming to get a retirement visa when the COVID situation dies down

OP, You will be obtaining a non- o (based on retirement) visa. Many countries do not provide them eg AU.  That's not an issue. You can obtain at immigration in Thailand.

As mention above the funds in Thai bank need shown to come from o/s. A good option is companies such as Transferwise and OFX. Check out internet "clash of the Titian's" good comparison of the 2.

Personally I obtained the non o at Vientiane reason being if non o is obtained outside of Los there is no need to show where money came from.

As for bringing cash into Thailand, you have your advice above. Anytime I visit Oz I always bring back 25k (that's more than amount allowed without declaration) and exchange at super rich. (Best option).

Currently I'm using OFX for transfers of 25k aud. That company allows 5 days to complete deal. My AU bank only allows max 5k per day transfer. Hence I can only do 25k. Check out your home bank options before leave for Thailand. Do you have a Thai bank account. That's step 1.

BTW you mentioned "retirement visa"

Some folk refer a non 0-A as RV. Don't obtain one as requires useless Thai insurance.

Edited June 17, 2020 by DrJack54

[Laza 45]

16 hours ago, farang51 said:

I suggest opening a bank account when in Thailand and then wire the money. That will probably give you a better exchange rate too.

Good advice...  For best rates and quick transfer use TransferWise:

 

https://transferwise.com/

[flossie35]

16 hours ago, BritTim said:

I have sympathy with much of your post, but bringing cash in a major currency and converting at SuperRich will give a considerably better exchange rate than alternatives.

For visa purposes as already explained it's no good bringing in cash; you have to transfer via a bank, and make sure the transfer appears in you Thai bank account as "international transfer". If you're in UK Bangkok London branch will do the transfer for 20GBP. Don't delay; useless UK government is not doing the pound any favours. Nor anybody else unless you're a rich tax dodger.

[Kalasin Jo]

18 hours ago, ubonjoe said:

If you already have a non-o visa to apply for the extension you send in anyway you want to or carry the money in.

If applying for the non-o at immigration you have to have proof it was transferred into the country. They will not accept anything other than proof from a Thai bank.

And they won't necessarily accept that if you are going vto use the income method. Mine eouldnt accept  bank statement plus bank letter confirming account and listing all the foreign transfers in. Not enough, proof of source in UK. For those lucky enough to still be able to get an Embassy letter you are fine, for those that no longer can, see above. Encouraged to put 400k in my account.

 

I don't have 400k handy, so a non starter. Even if I did and stuck it in right now it could be up to 3 months before I get the extension.. I want to leave well before then. May be border with Lao at 2nd Friendship Bridge will reopen soon.

 

Kalasin IO. They send your application for annual marriage extensions to Khon Kaen for approval.

[dlclark97]

What has to be declared is not only cash but Travelers checks and other convertible monetary documents as well.  The Travelers checks are easily cashed at banks here at decent rates and are safer than cash.  You MUST declare this to a Customs office BEFORE leaving the USA.  Depending on where you leave from the service may be available at your first airport of departure.  Often if your schedule between flights allows the time it can be done while enroute at Chicago O'hare, LAX, Miami and many other major international airports.

[jomtienisgood]

17 hours ago, 4MyEgo said:

I don't believe that there is legal limit which can bring into Thailand, however, depending on the country you are departing from, you have to declare any amount over the limit, e.g. departing Australia, you have to declare anything over $10,000, as for Thailand, as I mentioned, I don't think you have to declare what money you are bringing in as long as you have declared it at your home country upon departure.

 

Once your in, then set up a bank account and use Transferwise, Thai immigration will want to see where your money is coming from to prove you have the funds in your account at least 3 months prior to applying for the visa and 400,000 of the 800,000 baht must remain in the account.

 

Good luck, your coming, I'm going ????

 

Everywhere in the world you have to declare at customs Import of money above the maximum allowed amount....

[dlclark97]

16 hours ago, Trillian said:

The Super Rich rate for USD/THB cash notes is 31.05, the TT rate is 30.90, that means there's about 1 Baht and 15 satang difference between the best and the worst.  On 10k US that would amount to 11,500 Baht, plus sending and receiving charges. What price piece of mind and security?

 

https://daytodaydata.net/

Check your math.  That's only about a 15 satang difference.

 

[kensawadee]

17 hours ago, 4MyEgo said:

I don't believe that there is legal limit which can bring into Thailand, however, depending on the country you are departing from, you have to declare any amount over the limit, e.g. departing Australia, you have to declare anything over $10,000, as for Thailand, as I mentioned, I don't think you have to declare what money you are bringing in as long as you have declared it at your home country upon departure.

 

Once your in, then set up a bank account and use Transferwise, Thai immigration will want to see where your money is coming from to prove you have the funds in your account at least 3 months prior to applying for the visa and 400,000 of the 800,000 baht must remain in the account.

 

Good luck, your coming, I'm going ????

 

YES..... TRANSFERWISE is serving me well and I have compared a few others including a couple of my own American Banks for transfers..... I have used them 6-7 times and compared each time...... The US Dollar rate has plunged so just this week I got 31.09 for my dollar when a few weeks ago I got 33.16 in a transfer.......... So as you can... learn to follow the exchange rate (I use XE Currebcy Rate a few times a day and I am astounded by the ups and downs).... I have not been able to do my back and forth trips lately but anytime I am flying I take the 'Max USA limit of $10.000' and in Pattaya I exchange dollars on average at about 30 Satang per $1 higher at some 'Bright Yellow' T&T exchange booths..... Carrying the money is much better exchange rate BUT take care not to exceed the limit amount (Unless you declare it to 'customs') The customs can confiscate ALL of it if you don't declate it when it exceeds $10,000 USD.... I read once of Customs in NEW YORK getting a whole suitcase full of money headed to the Middle-East - Probably to sponsor terrorisn) They can keep it all even the first 10,000...........

SO.... carry when you can and when you get to Thailand follow the rates and change it at the booths that pay the best......

[kensawadee]

7 minutes ago, oznomad said:

Quick comparison just now, AUD / THB

Superrich 21.2

Transferwise 21.42

 

 

BUT...... DON'T FORGET............ Although TRANSFERWISE is great...... You are quoting rates after you haver carried money to Thailand.......  For US$ 

transferwise does charge you about $11 per $1,000 USD as a 'fee'........... So now that takes your Thai Baht down a noticeable amount...... I use Transferwise often BUT if I am travelling I carry the $9,999 baht with me and I find that I am several thousand Baht ahead when I do that....

[Scott Tracy]

17 hours ago, Trillian said:

The Super Rich rate for USD/THB cash notes is 31.05, the TT rate is 30.90, that means there's about 1 Baht and 15 satang difference between the best and the worst.  On 10k US that would amount to 11,500 Baht, plus sending and receiving charges. What price piece of mind and security?

Forgive me, the difference between 30.90 and 31.05 is 15 satang, not 1 baht 15 satang. Making a difference not 1500 baht on $10,000.

[chuang]

If you are bringing say USD 20000...it's only 200 pieces of USD 100 bills you can easily keep them in separate pockets....I have done that many times then money change at Superrich or Sakol.

Of course there is risk involved, do not put money in bags that have to be scanned..

Play safe then report the money involved...

Edited June 17, 2020 by chuang

[eyup]

Open a. Thai bank account and use this link if you want for transferwise. I get a bit of a bonus but you also get first £500 or about $750 transfer free

 

https://transferwise.com/invite/u/robertk160

[Max69xl]

18 hours ago, 4MyEgo said:

I don't believe that there is legal limit which can bring into Thailand, however, depending on the country you are departing from, you have to declare any amount over the limit, e.g. departing Australia, you have to declare anything over $10,000, as for Thailand, as I mentioned, I don't think you have to declare what money you are bringing in as long as you have declared it at your home country upon departure.

 

Once your in, then set up a bank account and use Transferwise, Thai immigration will want to see where your money is coming from to prove you have the funds in your account at least 3 months prior to applying for the visa and 400,000 of the 800,000 baht must remain in the account.

 

Good luck, your coming, I'm going ????

If converting a tourist visa or 30 days Visa exempt to a 90 days Non-immigrant O, the money just have to be in the bank the day of applying. When applying for a 1 year extension (every type of extension), the money has to be in the bank 2 months prior to the application. It was 3 months before March 1 2019.