SCOTT FITZGERSLD Posted June 20, 2021 Share Posted June 20, 2021 9 hours ago, DBath said: What do they do if the limit is say $10K USD and you declare $25-30k? they might ask you why you carry so much cash with you, and ask you for receipts. but generally it is no problem, you only need to declare it. you can consider to use your ATM for withdrawls of your money from bangkok bank while in spain. the exchange rate will not be bad and you only have to worry about ATM cimision. sometimes there is no comission at all - not in thailand and not in spain - this way you can withdraw your money when you need it. bangkok bank does not charge commisions for keeping the account, so why not to use it and use the account as a vault. just make sure to ask them for the master card ATM card. the UNION one does not work so well. 1 Link to comment Share on other sites More sharing options...
SCOTT FITZGERSLD Posted June 20, 2021 Share Posted June 20, 2021 8 hours ago, gearbox said: However there is nothing to worry about if it is your own legal money on which tax was already paid. there is a lot to worry about. declaration does not mean the money was taxed or came from legal sources and they might come back to you for questioning. soon cash will not be used anymore and governments do not like to see people carry cash 1 Link to comment Share on other sites More sharing options...
SCOTT FITZGERSLD Posted June 20, 2021 Share Posted June 20, 2021 8 hours ago, TallGuyJohninBKK said: you don't need to be physically present in TH in order to execute a foreign transaction you still have to get SMS from bangkok bank before trasfering the money to deemoney, and if you do not have roaming service you cannot do it while abroad 1 Link to comment Share on other sites More sharing options...
SCOTT FITZGERSLD Posted June 20, 2021 Share Posted June 20, 2021 8 hours ago, sanmyintmaung said: MoneyGram and Western Union very very expensive 1 Link to comment Share on other sites More sharing options...
DBath Posted June 21, 2021 Author Share Posted June 21, 2021 47 minutes ago, SCOTT FITZGERSLD said: they might ask you why you carry so much cash with you, and ask you for receipts. but generally it is no problem, you only need to declare it. you can consider to use your ATM for withdrawls of your money from bangkok bank while in spain. the exchange rate will not be bad and you only have to worry about ATM cimision. sometimes there is no comission at all - not in thailand and not in spain - this way you can withdraw your money when you need it. bangkok bank does not charge commisions for keeping the account, so why not to use it and use the account as a vault. just make sure to ask them for the master card ATM card. the UNION one does not work so well. Good point, thanks. And I do happen to have the MasterCard version, so that will provide another decent option, especially if I decide to wait until I get to Spain and setup a bank account. Link to comment Share on other sites More sharing options...
markeewan Posted June 21, 2021 Share Posted June 21, 2021 The very best option is going to be taking cash with you. However it has a number of draw backs. Needs Airport(s) declaration and might raise red flag if it is a significant amount Theft or physical loss has to be considered. Paying large amount into Spanish bank may be an issue. Second best option is as those suggested, eg Wise, OfX etc. When I Googled "cheapest way to tranfer money from thailand to Spain", the answer suggested "Skrill". I have never heard of it, but it is one of these new Money Transfer companies. These would be the options to research more as they are definitely likely to be the cheapest safest option. Absolute worst option is using a bank to bank transfer, as they will hit you with a 3-4% charge. Anything that states "fee free", just makes it up with a poor exchange rate. One option though, could be to leave some cash in Thailand in case you have a future holiday. Just be aware that you need to ensure the account doesn't become dormant for lack of activity. 1 Link to comment Share on other sites More sharing options...
Tracyb Posted June 21, 2021 Share Posted June 21, 2021 I’d consider xfer to your USA bank from BKK bank while you’re still here. Later, us transfer wise, now Wise, to xfer from USA bank to Spanish bank when you’re set up there . 1 Link to comment Share on other sites More sharing options...
Tracyb Posted June 21, 2021 Share Posted June 21, 2021 Another thought.... get someone you know here in Thailand who has a USA bank to buy your Thai baht and then do an ACH transfer from their USA bank to your USA bank. No fees and no bank charges.... Link to comment Share on other sites More sharing options...
wombat Posted June 21, 2021 Share Posted June 21, 2021 17 hours ago, ThailandRyan said: Suitcase and a bank withdrawal, with a declaration of funds upon entering Spain. Well it is a thought. and couple of kg gold necklace to wear, depending how strong the back is 1 Link to comment Share on other sites More sharing options...
audaciousnomad Posted June 21, 2021 Share Posted June 21, 2021 16 hours ago, TallGuyJohninBKK said: Once you're registered and established with DeeMoney, AFAIK, you don't need to be physically present in TH in order to execute a foreign transaction through them. You can do it online, AFAIK. "How do I transfer? Once your registration is complete. You can download the DeeMoney mobile application and start transferring! You can get it on iOS and Android. The following are instructions on using the DeeMoney mobile application: 1. Enter the recipient’s data. Make sure to double check all information is correct. 2. Once you have entered the recipient’s data, go back to the homepage and select “Send Money”. 3. Enter your amount and proceed through. 4. Select “QR Payment” and you will be given a QR code. Tap on “Save” to save the QR code to your phone’s image gallery. 5. Open your bank account’s mobile banking application (Works with any bank in Thailand)." https://www.deemoney.com/what-is-deemoney/ This is a very simple process to transfer money. DeeMoney looks like a good idea. I would also add that the OP may be wise to ensure his bank's app will work while abroad. Maybe also look into using a VPN for security. Link to comment Share on other sites More sharing options...
Strikerxxx Posted June 21, 2021 Share Posted June 21, 2021 I was looking at this issue last fall. Easiest way was to call my credit card companies and put a credit on my cards with my Bangkok Bank debit card. Worked great and was easy. I figured I would just use the credit to pay my health insurance. Surprise. after a month or so, a check from American Express shows up in the PO box as a refund. As a retired guy with no work permit the bank flat out said that I couldn't transfer my money out. A lot of friends told me to just buy Thai gold and take it out. Be aware, American gold dealers prefer NOT to accept Thai gold. It has no standard and has to be sent of for assay, which cost money and they don't want to deal with it. Link to comment Share on other sites More sharing options...
Randy99 Posted June 21, 2021 Share Posted June 21, 2021 18 hours ago, DBath said: It crossed my mind, but have never tried to move more than the allowed amount in cash. Into the US, I think it's $10 or $15K, but not sure about Spain. Regardless, I'm sure it will be less than what I need to xfer. Have you ever tried to transport more than the allowed amount via declaration? I'm not sure what that entails. No countries restrict the amount of cash you bring in. Most though require that you declare it Link to comment Share on other sites More sharing options...
Caldera Posted June 21, 2021 Share Posted June 21, 2021 9 hours ago, SCOTT FITZGERSLD said: you still have to get SMS from bangkok bank before trasfering the money to deemoney, and if you do not have roaming service you cannot do it while abroad For a QR code payment to DeeMoney from Bangkok Bank, using their Bualuang app, there's no SMS being sent. So that would be an option, but in general it's a good idea to ensure that roaming works. 1 Link to comment Share on other sites More sharing options...
scorecard Posted June 21, 2021 Share Posted June 21, 2021 20 hours ago, NCC1701A said: worse case withdraw the cash and get on the plane. it is your money. just make sure you do the paperwork at the airport. Both departure and arrival (after some research to know the maximum amount of cash you can carry into Spain without declaring it). 2 Link to comment Share on other sites More sharing options...
scorecard Posted June 21, 2021 Share Posted June 21, 2021 10 hours ago, SCOTT FITZGERSLD said: they might ask you why you carry so much cash with you, and ask you for receipts. but generally it is no problem, you only need to declare it. you can consider to use your ATM for withdrawls of your money from bangkok bank while in spain. the exchange rate will not be bad and you only have to worry about ATM cimision. sometimes there is no comission at all - not in thailand and not in spain - this way you can withdraw your money when you need it. bangkok bank does not charge commisions for keeping the account, so why not to use it and use the account as a vault. just make sure to ask them for the master card ATM card. the UNION one does not work so well. "What do they do if the limit is say $10K USD and you declare $25-30k?" Be aware that some governments are very serious about carrying more cash than the limit because of money laundering activity. Carry more than the limit into Australia and don't declare it on arrival is serious, total confiscation is rare but the law provides for customs etc., to confiscate the lot and demand more in terms of a big fine. 1 Link to comment Share on other sites More sharing options...
RafPinto Posted June 21, 2021 Share Posted June 21, 2021 Give me a call. I give you a hand, promise. Link to comment Share on other sites More sharing options...
EvetsKram Posted June 21, 2021 Share Posted June 21, 2021 20 hours ago, DBath said: I've heard horror stories of people who've been caught with too much cash on them - undeclared - and all or most of their money was confiscated. What do they do if the limit is say $10K USD and you declare $25-30k? As long as its genuinely yours & not Ill gotten then they permit it. They may ask why you're carrying such a large amount Link to comment Share on other sites More sharing options...
DaLa Posted June 21, 2021 Share Posted June 21, 2021 20 hours ago, DBath said: It crossed my mind, but have never tried to move more than the allowed amount in cash. Into the US, I think it's $10 or $15K, but not sure about Spain. Regardless, I'm sure it will be less than what I need to xfer. Have you ever tried to transport more than the allowed amount via declaration? I'm not sure what that entails. The limits into the UK are amounts that you don't have to declare. Above those figures you just make a declaration prior to leaving baggage reclaim. I presume that may also be the case in other countries. Link to comment Share on other sites More sharing options...
Tapster Posted June 21, 2021 Share Posted June 21, 2021 (edited) @DBath I'm doing the same as you, for a move to Scotland. I have looked at this in some depth and here is my point of view, taking into account my medium-low, risk-taking profile: Cryptocurrentcy - so volatile at the moment, don't even think of it Thick gold necklace - it's not the worst idea; gold ought to hold its value for the time it takes you to travel to Spain. You'd have to know a lot about the gold market in both countries, though. Carrying large sums on your person - it's too late to change your mind if you have too much with you, and you meet the wrong customs officer. A Canadian friend of mine travelled back to Montreal with 8 million THB in cash; she made it but was sh*tting herself the whole way. I suppose it's not risky if you take only the allowed amount. Leaving cash in BKK Bank and transferring from abroad - this is Thailand! You don't want to have to fly back here to sort out some arcane banking procedure that they have suddenly invented. Dee Money - I'm registered with them. My calculations show that they take approx 3%, through poor exchange rates. Their charges seem low but the rates are poor. Having said that, 3% isn't the worst commission ever; it's just that 3% of a lot of money, is a lot of money! Having a BKK Bank credit card, and loading it up before you leave. If you don't already have a credit card with BKK Bank, you might need a work permit to get one. Other than that, it sounds like it might work, but again, if you have problems, you probably can't sort that out from Spain. Needs research. I didn't see anyone mention getting in touch with BKK Bank and asking how much you can transfer to a foreign bank. As long as you have proof that your money came from abroad in the first place, you ought to have no problem. I haven't done this with my bank yet, but this is what I'm hoping to arrange. Lastly, if I haven't made this clear before, I strongly suggest getting your money out of Thailand before you leave. I will be! Good luck with your move. Hasta la vista, baby! ???? Edited June 21, 2021 by Tapster 1 1 Link to comment Share on other sites More sharing options...
Mr Wong Posted June 21, 2021 Share Posted June 21, 2021 Funny story . . . about 20 years ago I was travelling from Sydney to Shanghai and needed to carry a very large amount of cash for the purchase of a machine for my business. I got the idea to strap the cash all over my body . . . really . . . this is true ! The plan soon started falling apart as I noticed $50 notes on the floor at Sydney airport. The damn money had started sliding out of the bottom of my jeans. The next problem arose when I went to exchange the money in Shanghai . . . they bank examined every note very carefully one by one . . . any notes with the slightest blemish were rejected. There were a lot of notes rejected because they had been getting rubbed together and had gotten wet from sweat. Because so many notes got rejected I did not have enough money to pay for the machine. Then my travelling companion got the idea to try withdrawing via an ATM from their account in Australia that was set up without a daily withdrawal limit . . . it worked ! 1 Link to comment Share on other sites More sharing options...
Captain Monday Posted June 21, 2021 Share Posted June 21, 2021 Go to your branch and send a wire to your US bank, easy peasy When you get your Deutche Bank set up send another wire from the US to Spain 1 Link to comment Share on other sites More sharing options...
Makoshark Posted June 21, 2021 Share Posted June 21, 2021 Can't you just transfer the money to your bank account in the USA for now? 1 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted June 21, 2021 Share Posted June 21, 2021 21 hours ago, DBath said: Have you ever tried to transport more than the allowed amount via declaration? I'm not sure what that entails. It involves proving where the cash came from. 1 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted June 21, 2021 Share Posted June 21, 2021 21 hours ago, DBath said: I've heard horror stories of people who've been caught with too much cash on them - undeclared - and all or most of their money was confiscated. What do they do if the limit is say $10K USD and you declare $25-30k? As soon as those people prove the legitimacy of the source of the money they can get it all back. 1 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted June 21, 2021 Share Posted June 21, 2021 21 hours ago, DBath said: I am setup for iBanking and mBanking at BKK Bank. Your account needs to be set up to allow international transfers and that's not an automatic facility. 1 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted June 21, 2021 Share Posted June 21, 2021 26 minutes ago, Makoshark said: Can't you just transfer the money to your bank account in the USA for now? Not unless his BBL account is set up for international transfers and, if he doesn't have a work permit, it probably won't be. 1 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted June 21, 2021 Share Posted June 21, 2021 41 minutes ago, Captain Monday said: Go to your branch and send a wire to your US bank, easy peasy When you get your Deutche Bank set up send another wire from the US to Spain Yeah, right, easy peasy if he has an international transfer facility on his BBL account but, as he's retired and has no work permit, that won't be likely. Link to comment Share on other sites More sharing options...
sapson Posted June 21, 2021 Share Posted June 21, 2021 How much can you take out of Thailand in GBP cash and into the UK without declaration at either end? Link to comment Share on other sites More sharing options...
Nemises Posted June 21, 2021 Share Posted June 21, 2021 (edited) Not sure how much BKK bank want to charge you, but it only cost me 1,200b in bank fees to transfer 11 million baht from my Krungthai bank account direct to my US bank account. Edited June 21, 2021 by Nemises 1 Link to comment Share on other sites More sharing options...
DBath Posted June 21, 2021 Author Share Posted June 21, 2021 5 minutes ago, Nemises said: Not sure how much BKK bank want to charge you, but it only cost me 1,200b in bank fees to transfer 11 million baht from my Krungthai bank account direct to my US bank account. I didn’t get a chance to call them today, but will do tomorrow and try to report back to this thread. Thanks! Link to comment Share on other sites More sharing options...
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