Transferring $20,000 USD

[HappyExpat57]

I'm in the US at the moment. Is the overall exchange better to send $20k via Wise to SCB or physically take the cash with me to personally deposit (which, of course, would be reported to the US gubmint before boarding the plane)?

[flyingtlger]

Why risk the hassle of carrying 20K and God forbid, risk losing it.

Just wire it. Even if it might cost a little more, it'll be worth the peace of mind.....

[ezzra]

Check to see what will you get for a transfer and how much for cash and if the different is negligible than just

transfer it as some time can can up with better rate in cash from money changers... 

[Skipalongcassidy]

The problem with carrying $20,000 usd is one of bulk... $100 bills are the largest usd so that would be 2000 bills... can't just fold it and stick it in your pocket... I did it recently with a money belt but was searched at airport... no big deal just inconvenient.

[macahoom]

47 minutes ago, Skipalongcassidy said:

The problem with carrying $20,000 usd is one of bulk... $100 bills are the largest usd so that would be 2000 bills... can't just fold it and stick it in your pocket... I did it recently with a money belt but was searched at airport... no big deal just inconvenient.

 

Ha!

 

You seem to have a problem with your mathematics.

 

2000 X 100 = $200,000.

 

He'd only need to carry 200 bills.

 

Of course, you're gonna tell us now it was a typo. Sure! 

[Gottfrid]

49 minutes ago, Skipalongcassidy said:

The problem with carrying $20,000 usd is one of bulk... $100 bills are the largest usd so that would be 2000 bills... can't just fold it and stick it in your pocket... I did it recently with a money belt but was searched at airport... no big deal just inconvenient.

No, it would only be 200 bills. 200 x 100 equals 20 000

[Skipalongcassidy]

Thank you all for correcting my math and taking away my "typo" excuse... still allot of bills to fold

[Gottfrid]

7 minutes ago, Skipalongcassidy said:

Thank you all for correcting my math and taking away my "typo" excuse... still allot of bills to fold

So, don´t fold them, then.

 

[lopburi3]

Normally it is cost effective to SWIFT transfer USD from your US bank to Thai bank for such amounts (as Wise fee increases with the amount sent).  Just make sure your US bank does not do the converting to Thai baht.

[Lemsta69]

15 minutes ago, Skipalongcassidy said:

Thank you all for correcting my math and taking away my "typo" excuse... still allot of bills to fold

 

It's not that big, you could easily fit this lot into one of those big fanny packs or a man bag if you have one.

 

 

Edited March 24 by Lemsta69

[Skipalongcassidy]

3 minutes ago, Lemsta69 said:

 

It's not that big, you could easily fit this lot into one of those big fanny packs or a man bag if you have one.

 

 

Yes... go ahead and put them in a man bag or backpack... now they are at risk of becoming missing during scanning at the airports for sure... when I go through airport scanning with any cash I have it in a money belt or in my hand... they cannot refuse to let you carry it in your hand.

[BKKBike09]

1 hour ago, HappyExpat57 said:

'm in the US at the moment. Is the overall exchange better to send $20k via Wise to SCB or physically take the cash with me to personally deposit (which, of course, would be reported to the US gubmint before boarding the plane)?

 

Good time to change USD to THB. Rate is predicted to weaken further - it's already at a pleasing 36+ and some predictions are may go to over 37 - in next couple of weeks.

 

Just look at the SCB web site and say Vasu to get an idea (based on Friday's closing rates) what the difference would be. You'd make an extra THB 6500 or so.

 

Vasu = 725,400

SCB = 718,800

 

 

 

 

 

[Hellfire]

2 hours ago, BKKBike09 said:

 

Good time to change USD to THB. Rate is predicted to weaken further - it's already at a pleasing 36+ and some predictions are may go to over 37 - in next couple of weeks.

 

Just look at the SCB web site and say Vasu to get an idea (based on Friday's closing rates) what the difference would be. You'd make an extra THB 6500 or so.

 

Vasu = 725,400

SCB = 718,800

 

 

 

 

 

It is close to 18 years high. It can go up a bit, but the chances it will go higher than 38 are slim, imho.

[Hellfire]

2 hours ago, Lemsta69 said:

 

It's not that big, you could easily fit this lot into one of those big fanny packs or a man bag if you have one.

 

 

The most informative video I have ever seen

[bendejo]

4 hours ago, HappyExpat57 said:

or physically take the cash with me

 

Upon going through an immigration or security checkpoint:  "What have you there?  Let me see.  Oooohhh....."

 

[ravip]

Isn't there a limit that you can carry cash internationally? I thought it was around USD 10,000/- 

[Ralf001]

3 hours ago, Skipalongcassidy said:

Thank you all for correcting my math and taking away my "typo" excuse... still allot of bills to fold

Its only 2 stacks. Dont fold em.

 

[Ralf001]

6 minutes ago, ravip said:

Isn't there a limit that you can carry cash internationally? I thought it was around USD 10,000/- 

 

There is no limit but you have to declare if more than 10k.

[Liverpool Lou]

3 hours ago, Gottfrid said:

3 hours ago, Skipalongcassidy said:

Thank you all for correcting my math and taking away my "typo" excuse... still allot of bills to fold

So, don´t fold them, then.

 

Exactly.

[Liverpool Lou]

8 minutes ago, Ralf001 said:

15 minutes ago, ravip said:

Isn't there a limit that you can carry cash internationally? I thought it was around USD 10,000/- 

 

There is no limit but you have to declare if more than 10k.

Declaration amounts depend on the regulations of the departure country and the arrival country...only cash exceeding $20k value into Thailand has to be declared, for example. 

[Chivas]

1 hour ago, Hellfire said:

It is close to 18 years high. It can go up a bit, but the chances it will go higher than 38 are slim, imho.

 

Nope lol

Thats a one year graph let alone close to 18 year high !

 

 

[Ralf001]

12 minutes ago, Liverpool Lou said:

Declaration amounts depend on the regulations of the departure country and the arrival country...only cash exceeding $20k value into Thailand has to be declared, for example. 

 

When departing the USA cash over 10k needs to be declared.

 

Edited March 24 by Ralf001

[Dcheech]

YES you will get a better rate & less fees, if you bring cash back and exchange at Superich or SK, than you would by Wise or bank transfers. Next trip I will be bring back 10K (or is it 15?), just in case there is anything to this 'tax thing-y'.

[Liverpool Lou]

14 minutes ago, Ralf001 said:

 

When departing the USA cash over 10k needs to be declared.

 

I know, that's what I posted...

"Declaration amounts depend on the regulations of the departure country..."

[lkn]

3 hours ago, Lemsta69 said:

It's not that big, you could easily fit this lot into one of those big fanny packs or a man bag if you have one.

 

That video is a bit misleading, as they only put 20 bills in each stack.

 

Normally you put 100 bills in a stack and that makes the stack slightly smaller than my iPhone 15 Pro (regular size).

 

So carrying $20K in cash is roughly the same as carrying two extra mobile phones.

[Ralf001]

9 minutes ago, Liverpool Lou said:

I know, that's what I posted...

"Declaration amounts depend on the regulations of the departure country..."

 

Good for you, Lou.

[NanLaew]

5 hours ago, Skipalongcassidy said:

they cannot refuse to let you carry it in your hand.

 

Not even those TSA blue shirts?

[NanLaew]

Before he even gets anywhere close to stuffing his fanny pack and heading to the airport, the OP should check how easy it is to get two ten grand bundles of crispy new Benjamins from his bank.

[gamb00ler]

6 hours ago, Hellfire said:

It is close to 18 years high. It can go up a bit, but the chances it will go higher than 38 are slim, imho.

In Mar. 2006 I got 39.19 per US$ via the old Bangkok bank NY method.  I don't count that as being close to 36.37

Edited March 24 by gamb00ler

[Hellfire]

20 minutes ago, gamb00ler said:

In Mar. 2006 I got 39.19 per US$ via the old Bangkok bank NY method.  I don't count that as being close to 36.37

This is my point when I talk about 18 years. It never was on those levels since 2006.