Max69xl Posted June 17, 2020 Share Posted June 17, 2020 (edited) 25 minutes ago, chuang said: 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... Why would anyone with half a brain bring 20k US in bills into Thailand instead of transferring it from abroad and get at least the TT buy rate? And even more if using TransferWise (or Western Union). Edited June 17, 2020 by Max69xl Link to comment Share on other sites More sharing options...
dodgybros Posted June 17, 2020 Share Posted June 17, 2020 40 minutes ago, kensawadee said: 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 $9,999 baht with me and I find that I am several thousand Baht ahead when I do that.... 21.19 into account from TW after fees, difference is minimal. Link to comment Share on other sites More sharing options...
BritTim Posted June 17, 2020 Share Posted June 17, 2020 11 minutes ago, Max69xl said: Why would anyone with half a brain bring 20k US in bills into Thailand instead of transferring it from abroad and get at least the TT buy rate? And even more if using TransferWise (or Western Union). To get the SuperRich exchange rate, and avoid the costs of international transfers. Current US$->THB rate at SuperRich is 31.13. What is the best rate you can get for TT, before considering transfer fees? Link to comment Share on other sites More sharing options...
Seeall Posted June 17, 2020 Share Posted June 17, 2020 19 hours 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. Bank to bank done cost 500 THB unlimited... whats the drama...... tee are a few more tricks too 1 Link to comment Share on other sites More sharing options...
david555 Posted June 17, 2020 Share Posted June 17, 2020 30 minutes ago, BritTim said: To get the SuperRich exchange rate, and avoid the costs of international transfers. Current US$->THB rate at SuperRich is 31.13. What is the best rate you can get for TT, before considering transfer fees? And also to keep some "security amount" of international valued money at hand for any eventuality's who could happen.....cash is still king in difficult times or circumstances Link to comment Share on other sites More sharing options...
ray666 Posted June 17, 2020 Share Posted June 17, 2020 Surely a bank transfer is the best and safest way. Open a Thai bank. 1 Link to comment Share on other sites More sharing options...
PeteDaKat Posted June 17, 2020 Share Posted June 17, 2020 If you work through the visa conversion process to Non-Imm O for retirement, once you get your local bank account with your proof of residence letter, you need to wire transfer the money into the Thai account from your outside home bank. The deposit must be stamped with FTT category or Immigration will see the money as invalid for the ฿800,000 one must hold. Bringing money in a suitcase will just be your play money, rent deposit money, etc., but will not be good for meeting immigration requirements. Link to comment Share on other sites More sharing options...
david555 Posted June 17, 2020 Share Posted June 17, 2020 (edited) 7 minutes ago, PeteDaKat said: If you work through the visa conversion process to Non-Imm O for retirement, once you get your local bank account with your proof of residence letter, you need to wire transfer the money into the Thai account from your outside home bank. The deposit must be stamped with FTT category or Immigration will see the money as invalid for the ฿800,000 one must hold. Bringing money in a suitcase will just be your play money, rent deposit money, etc., but will not be good for meeting immigration requirements. Wrong …..if you declare at custom's you get official document that you brought it from foreign origin , but you must give / show to a Thai bank for depositing it under that reason of origin . (not a very frequent happening , hence not very much known ..) But of course transferring is the most common way to do...., just pointing out the exceptional cash way is possible Edited June 17, 2020 by david555 Link to comment Share on other sites More sharing options...
ubonjoe Posted June 17, 2020 Share Posted June 17, 2020 15 minutes ago, david555 said: Wrong …..if you declare at custom's you get official document that you brought it from foreign origin , but you must give / show to a Thai bank for depositing it under that reason of origin . The bank would not be able to provide proof that immigration would accept to prove it came from abroad. Link to comment Share on other sites More sharing options...
Bob A Kneale Posted June 17, 2020 Share Posted June 17, 2020 22 hours 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. "You may forget the money in a taxi (they do not all bring it back), or a thief may steal the money". That could also happen in his departing country before he gets on the plane, Thailand's not the only country where thefts or losses can occur! Link to comment Share on other sites More sharing options...
dabhand Posted June 17, 2020 Share Posted June 17, 2020 2 hours ago, BritTim said: To get the SuperRich exchange rate, and avoid the costs of international transfers. Current US$->THB rate at SuperRich is 31.13. What is the best rate you can get for TT, before considering transfer fees? TW are currently offering 31.165. Link to comment Share on other sites More sharing options...
Bob A Kneale Posted June 17, 2020 Share Posted June 17, 2020 20 hours ago, lukas550 said: 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 ???? Carrying cash, or a Customs declaration, is not proof of not working in Thailand! Link to comment Share on other sites More sharing options...
Maestro Posted June 17, 2020 Share Posted June 17, 2020 3 hours ago, Max69xl said: Why would anyone with half a brain bring 20k US in bills into Thailand instead of transferring it from abroad and get at least the TT buy rate? And even more if using TransferWise (or Western Union). For example for money laundering. Link to comment Share on other sites More sharing options...
david555 Posted June 17, 2020 Share Posted June 17, 2020 21 minutes ago, Bob A Kneale said: Carrying cash, or a Customs declaration, is not proof of not working in Thailand! Not really but also transferring money in is not a proof for not working in Thailand too , it is irrelevant to compare both for that. Link to comment Share on other sites More sharing options...
Maestro Posted June 17, 2020 Share Posted June 17, 2020 Removed off-topic posts (carrying cash or transfers from countries other tan the USA, putting money under the pillow, etc) and the replies to them. Link to comment Share on other sites More sharing options...
jaidee669 Posted June 17, 2020 Author Share Posted June 17, 2020 Thank you for the information. I will be coming from Myanmar and transferring money etc is near impossible. I dont mind declaring it at the airport but a little wary that there might be a unknown law that could mean them seizing any or all of it. Hopefully I will be obtaining a non O before I come in Link to comment Share on other sites More sharing options...
Trillian Posted June 17, 2020 Share Posted June 17, 2020 9 hours ago, Sophon said: 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. Yep, my error, apologies all round. Link to comment Share on other sites More sharing options...
yourauntbob Posted June 18, 2020 Share Posted June 18, 2020 For all the reasons listed above, just wire it in. the $25 - $100 (depending on your bank) in fees is well worth the worry, headaches, and potential loss. 1 Link to comment Share on other sites More sharing options...
Mulambana Posted June 18, 2020 Share Posted June 18, 2020 In the pre-internet days, I used to bring a handful of crisp US 100 dollar bills, amounting may be 2-3K for my 15-day stay. Then I switched to ATM card withdrwals around 2011 and ATM fees were reasoanble. Now I stay in Thailand on a long-term basis for momths and have switched to Transferwise exclusively. Keep around 200K in an account for daily expenses and fill it up regulalry as funds are depeleted. Link to comment Share on other sites More sharing options...
oznomad Posted June 19, 2020 Share Posted June 19, 2020 On 6/17/2020 at 11:37 AM, kensawadee said: BUT...... DON'T FORGET............ Although TRANSFERWISE is great...... You are quoting rates after you haver carried money to Thailand....... For US$ 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.... Fair point. I have just gone through the process, for a direct comparison, fees included on 10k AUD. Super Rich 211,500 THB Transferwise 211,256 THB For me, 244 baht is worth the convenience. Straight in the bank. No carrying cash around, no problems. Link to comment Share on other sites More sharing options...
BritTim Posted June 19, 2020 Share Posted June 19, 2020 1 hour ago, oznomad said: Fair point. I have just gone through the process, for a direct comparison, fees included on 10k AUD. Super Rich 211,500 THB Transferwise 211,256 THB For me, 244 baht is worth the convenience. Straight in the bank. No carrying cash around, no problems. As a matter of interest, what date do you do the TransferWise transfer? The AUD has been dropping recently against the baht. I am surprised if you would get over 210,000 THB doing the transaction today. Link to comment Share on other sites More sharing options...
oznomad Posted June 20, 2020 Share Posted June 20, 2020 On 6/19/2020 at 11:30 AM, BritTim said: As a matter of interest, what date do you do the TransferWise transfer? The AUD has been dropping recently against the baht. I am surprised if you would get over 210,000 THB doing the transaction today. Hi BritTim. I did the comparisons, simultaneously, as I wrote the comment - logging in to get the exact fees on the transfer. Link to comment Share on other sites More sharing options...
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