Hi all,

I have a 60 day visa and will be travelling to Thailand with my (Thai) wife and child later this month.

Could anyone advise the best way, or suggest another way, of getting the best rate for my sterling whilst over there?

1) Send monies via my bank to wife's Thai bank account, before we go, and draw it out from there, or

2) Take cash and pay into my wife's Thai bank account when we get there?

I'm thinking the latter because there would be less bank charges at my end and potentially better exchange rate, but not sure if this is the right assumption.

Also, what is the most amount of Sterling I can bring into Thailand legally and without being taxed?

Hope someone can help.

Cheers

Hi all,

I have a 60 day visa and will be travelling to Thailand with my (Thai) wife and child later this month.

Could anyone advise the best way, or suggest another way, of getting the best rate for my sterling whilst over there?

1) Send monies via my bank to wife's Thai bank account, before we go, and draw it out from there, or

2) Take cash and pay into my wife's Thai bank account when we get there?

I'm thinking the latter because there would be less bank charges at my end and potentially better exchange rate, but not sure if this is the right assumption.

Also, what is the most amount of Sterling I can bring into Thailand legally and without being taxed?

Hope someone can help.

Cheers

I'd tranfer the funds to your wifes account if it was me. If you bring cash, any amount in excess of US$10,000 or equivalent must be declared to Customs on arrival so there is no problem taking any funds out again.

Hi all,

I have a 60 day visa and will be travelling to Thailand with my (Thai) wife and child later this month.

Could anyone advise the best way, or suggest another way, of getting the best rate for my sterling whilst over there?

1) Send monies via my bank to wife's Thai bank account, before we go, and draw it out from there, or

2) Take cash and pay into my wife's Thai bank account when we get there?

I'm thinking the latter because there would be less bank charges at my end and potentially better exchange rate, but not sure if this is the right assumption.

Also, what is the most amount of Sterling I can bring into Thailand legally and without being taxed?

I'd tranfer the funds to your wifes account if it was me. If you bring cash, any amount in excess of US$10,000 or equivalent must be declared to Customs on arrival so there is no problem taking any funds out again.

Hope someone can help.

Cheers

Cash is normally the worst choice as exchange rate is always less for currency. Some from UK have been able to use ATM cards without charge and find that good. If you can obtain travelers checks on promotion (free) they might be good. If you use the wire transfer make it a large amount (but under 20k USD) and be sure it is sent as sterling (you do not want them to convert to baht in the UK).

Thanks for the advice. In the past I have sent money from the UK in baht and I think this is where I have been going wrong.

Thanks for the advice. In the past I have sent money from the UK in baht and I think this is where I have been going wrong.

Yes. Big mistake. It can make a lot of difference.

If you have a Nationwide account in the UK you can use the ATM and I normally get about 1 baht more than the best money exchange with no charges. I keep my current account empty and transfer money from my E account before I go to the ATM which means that if something happens to my card I cannot lose a lot of money because the account is empty

My advice: use an ATM in Thailand. The rate is the best you can get. Sending money from an account in the UK to an account in Thailand is very favourable. For the UK bank, that is! Very bad rate for you! I have had a very bad experience with Natwest to Bangkok Bank, the difference with an ATM withdrawal from the same Natwest account around the same time was nearly 7 baht per £. LESS

Hi all,

I have a 60 day visa and will be travelling to Thailand with my (Thai) wife and child later this month.

Could anyone advise the best way, or suggest another way, of getting the best rate for my sterling whilst over there?

1) Send monies via my bank to wife's Thai bank account, before we go, and draw it out from there, or

2) Take cash and pay into my wife's Thai bank account when we get there?

I'm thinking the latter because there would be less bank charges at my end and potentially better exchange rate, but not sure if this is the right assumption.

Also, what is the most amount of Sterling I can bring into Thailand legally and without being taxed?

Hope someone can help.

Cheers

As others have said in this posting, you will get a better rate if the money is tranferred in pounds and NOT transferred in Baht.

There used to be a requirement when going thru customs that required you to declare any cash you brought in over $10,000 equivalent. I don't know if that is still valid, and frankly I never seen anyone checked. However, be aware that there is a limit on how much Baht you can take out of country. I don't know how much the limit on taking Baht out of the country is. Also if you bring in a large amount of foriegn currency (i.e. pounds) and don't declare it, you may have trouble getting it out of the country. Then again, I've never seen anyone actually searched, so take your chances as you wish.

If you deposit money, either cash or by bank transfer to a Thai bank account, be aware of problems that you MAY have converting it out of Baht and getting the money out of the country. It has happened before. Depends on how the bank feels about you and what kind of luck you have. If for some reason they think the money was earned in Thailand and is taxable, you better be able to show proof of tax paid on it. If not, you better be able to PROVE you brought it in, or had the amount transferred from a foriegn bank. For that reason I would not bring in or deposit more than you expect to spend. Be prepared to leave whatever you don't spend.

If you carry large sums in and do not declare to customs

you may have problems taking the money out again.

Who wants to carry large sums of cash??

Too easy to loose or have stolen.

ATM is the simplest, just draw what you need, when you need it.

Alternatively wire Sterling to you wife's account for the best exchange rate.