Immigration Cash Requirements

[astral]

How will the Immigration requirement that tourists carry 10-40,000 in cash into the country affect the exchange rate.

Will overseas banks have enough cash to keep all the tourists supplied?

How will the Bank of Thailand view the out flow of cash to support the overseas banks.

Let us face it, overseas exchange rates for the baht are generally not good, especially for cash notes.

Even in a Telegraphic transfer it pays to ask for foreign currency to be sent. Don't let them convert to baht and then send that.

On a recent TT from the UK I had 2000 pounds sent over, I lost 4,600 baht because they did the exchange in the UK. I was furious!!

[lopburi3]

Who said the "cash" had to be in baht? Do not believe that is the case; and travelers checks are also accepted.

[loong]

How will the Immigration requirement that tourists carry 10-40,000 in cash into the country affect the exchange rate.

It would make no difference to the exchange rate. The cash would still be spent in Thailand. It doesn't matter where the currency is exchanged.

[Ajarn]

It wouldn't surprise me one bit to see some guy at the border offering to 'loan' you his cash (or the immigration officer's cash!) with him as guard, for showing to officials... Would you pay a 100+ baht 'service fee' to avoid going to the bank and having to come back again?

[BronzeRider]

It wouldn't surprise me one bit to see some guy at the border offering to 'loan' you his cash (or the immigration officer's cash!) with him as guard, for showing to officials... Would you pay a 100+ baht 'service fee' to avoid going to the bank and having to come back again?

I can see this. But probably more like 500. 250 to immigration to permit the lender to be on property.

[PeaceBlondie]

Well, since we're discussing hypotheticals about the supply and demand of Thai baht in various places -

Let's assume you're going to go to a typical border crossing like Mae Sai, Poipet, etc., and you've been assured that there are ATM's in those towns. You don't want to carry 10K or 20K on the bus, so you wait until you get to the border. Lo and behold, the ATM is empty! It only takes about 25 customers in front of you to pull over 250,000 baht out of the ATM; how often do you think those machines are refilled? And it wouldn't matter if people were re-depositing the cash later in the day (if that's even possible) because that currency probably falls into a separate cashbox.

On a weekend or a bank holiday, it should be even worse.

And what about currency exchanges in major tourist departure points - Heathrow, San Francisco, Sydney - if they're suddenly deluged with requests for 10K baht and 20K baht, that won't be coming back to their office for a long time?

Or are newcomers on this forum not supposed to join the scaremongers?

[Ajarn]

It wouldn't surprise me one bit to see some guy at the border offering to 'loan' you his cash (or the immigration officer's cash!) with him as guard, for showing to officials... Would you pay a 100+ baht 'service fee' to avoid going to the bank and having to come back again?

I can see this. But probably more like 500. 250 to immigration to permit the lender to be on property.

For 500,I'd go to the bank down the street.. And you're sure right about the required kickback ...

200 baht, dai mai, khrap?

[Baaksida]

...lo and behold, the ATM is empty!

I can imagine the following situation:

tourist: "Excuse me please, sir, but where can I find the next ATM?".

Senior immigration officer, talking to his colleagues: "Falang want to know where ATM - falang is ATM, har har har har har..." (All clerks in the office having a good laugh.)