Best Way To Bring Money To Thailand?

[daveh]

I originally posted this in the General forum, but I think this is a better forum for it.

What is the best way to bring a large sum of money to Thailand?

The options I can think of now are:

1. Cash

Bringing cash is certainly the easiest way. But it most certainly is not the safest way. If lost, that is it. You are out of luck.

2. Travellers cheques

Travellers cheques usually have a better exchange rate than cash, and they offer some security in the event of theft or loss. Of course, while the exchange rate is a little better, I'd have to pay for them, so that may balance it out. Also, I think for a large sum of money, I'd have to bring alot of them. Not sure what denominations there are.

3. Credit card

I can simply go to a Thai bank and get a cash advance on my credit card. Then head to the nearest internet cafe and pay the bill on the same day. I've done this before, but last time my credit card company got worried because it was considered unusual activity. They tried to get a hold of me, but of course they couldn't because I was in Thailand. I'm afraid if I tried this again, they may decline the advance.

4. Cash Advance on a Visa Debit card

A friend of mine told me about this. Basically, I may be able to use my VISA debit card to get a cash advance (the same as a withdrawal from an ATM), but without the daily limit. I would only be limited by the funds in my account in the States. I've never done this before and would be worried that it might not work.

5. SWIFT electronic transfer

I have an account in a Thai bank. I may be able to do an electronic transfer. But the fee for this is usually pretty stiff. Also, these transfers sometimes take quite a while.

For me, if 4 is a viable option, I'd rather do that. It seems there is no fee associated with it, and the exchange rate is pretty good. Has anyone used their VISA ATM card in thailand to get a "cash advance" before? I put this in quotes because it is not really an advance since it is coming directly out of your account.

Thanks.

[Sunny Valentine]

Don't know about US Accounts and fees, but for me a SWIFT transfer did cost me 0,3% from my european Bank plus 500 Bt on the Thai Bank.

The rate for Swift transfer (you definitely should send your currency into Thailand and have it converted here) was about 1% better than the cash rate on the same Day, so it did easily compensate for the 0,3% fee.

Charging a Debit Card, this depends on your issuing Banks fees and especially on the rates they convert the Baht.

Suggest to call your issuing Bank and ask them for the rate they would charge today, then check with Thai Bank's rates on the Internet same Day, for instance Kasikorn

Of course, the first question would be to ask how much you want to transfer.I am speaking of amounts over 10000$.

Sunny

[Dakhar]

I send moeny through a repetitive wire transfer act. It is fast, but costly. It is 30 USD per transfer.

I think the best way to bring moeny into Thailand, and if you want it off the radar, is to carry cash. I do beleive you can carry not more than 10K USD on you when you fly.

[paulfr]

I once checked and found there is no limit on cash

you can bring into Thailand. It is just that once over

50,000B, it must be reported.

US is the same for going in or out. No limit. I am not sure

what the limit is for reporting; probably $10,000.

Going back out of Thailand, you are limited to at least

what you have documented as having brought in.

Setting up a SWIFT account for transfers is the best for

large amounts to my knowledge. But you must do this

in person at your bank in the US. That is why I have had to

endure several times the 21-36 days it takes to get a

check deposit to clear.

[kankaroo]

Your safest bet is to convert all your cash into a large pile of high quality cocaine or some good E's. Then just stick it up yer arse - hop on a plane and sell it through adverts in the local papers & internet once you are here.

It is usually not advised to declare this one at customs, however.

Hope this helps

[Totster]

Your safest bet is to convert all your cash into a large pile of high quality cocaine or some good E's. Then just stick it up yer arse - hop on a plane and sell it through adverts in the local papers & internet once you are here.

It is usually not advised to declare this one at customs, however.

Hope this helps

Let us know how it goes......

totster

[amarka]

hi daveh..

option 4 works well, i do it all the time, all over the world, including thailand - you would have to call your bank to fix the withdrawal to a higher lever, or you might be restricted to 20,000 bht a day.

option 5 is also simple and cost effective if you check the numbers before you transfer, my bank charges me 35 Euros and very good exchange rate

amarka

[stevehaigh]

if you do wire transfer DO NOT let your local bank convert it to baht, send in in local currency to thailand an let your bank here convert it. I made a big mistake with this one and it cost me $1500US!

[lomatopo]

I'd recommend $1,000 dollar denomination Traveler's Cheques, or wire transfer.

Check around as you may be able to get Traveler's Cheques for free, I got my Visa-issued TC's from AAA, and as a member I do not pay any fee. There is a 33 baht fee for cashing TC's but you do get a good exchange rate, a tad higher than $100 bills.

I also had good luck with a wire transfer from my U.S. bank to my account at Bangkok Bank.

This thread has some relevant information.