Moving Money Lump Sum?

[Gonsalviz]

I tried but could find any coverage on this.

I don't need Homeland Security thinking I am sending money to some terrorist organization.

Soon I will be needing to send money to my account in Thailand in preparation for retirement. I am sure $25,000 will prick up somebody's ears. Am I better off sending it in smaller sums?

Any other ears that might prick up?

Edited May 11, 2008 by Gonsalviz

[jumnien]

Hiding it in smaller amounts with the intent to deceive the US Government is probably not a good idea. Practically, I have sent $100,000 and smaller amounts regularly to Thailand with no problem at all. Just be open and tell the truth.

[Gonsalviz]

Got no need to hide anything, but Thanks.

[jumnien]

Yeah, it's just never been a problem over the years. I've brought in around $750,000, much in fairly large amounts, and always just said, quite truthfully, that it is for real estate investments and living expenses.

[Gonsalviz]

Thanks again.

I just like to make sure I don't get any government hassles.

[Tomkagai]

Thanks again.

I just like to make sure I don't get any government hassles.

Stand to be corrected...but believe once an amount over $10,000 is moved, the transaction is flagged, but if you are not doing anything suspect why worry, if it is legit....

[sparrow]

Thanks again.

I just like to make sure I don't get any government hassles.

Stand to be corrected...but believe once an amount over $10,000 is moved, the transaction is flagged, but if you are not doing anything suspect why worry, if it is legit....

Just out of curiosity do you know at what amount a sum is "flagged" when leaving the UK?

[lopburi3]

Amounts over $10k used to requires special paperwork and believe that is still the case so normally make my transfers 9k. But as said it is no big thing but probably costs the banks a bit more for the paperwork. When I lived in South Florida believe the paperwork started at $2,500 or some such figure due to the drug traffic.

[naka]

I tried but could find any coverage on this.

I don't need Homeland Security thinking I am sending money to some terrorist organization.

Soon I will be needing to send money to my account in Thailand in preparation for retirement. I am sure $25,000 will prick up somebody's ears. Am I better off sending it in smaller sums?

Any other ears that might prick up?

No one will give a hoot about that sum. Sending small amounts would cost you more in fees.

Naka.

[Jingthing]

All SWIFT transfers of any amount are now tracked. No need to do anything fancy. Send what you need but be sure to report your accounts annually to the Treasury Department.

[froggshw]

I wanted to buy a car this week....phoned my bank up (first direct) to transfer the money from my account directly to the dealers account..amount of 650,000 baht...the staff at my bank advised me not to do this because apparently the Thai Gov is holding upto 30% of transfered funds for anything up to a year...anybody else know of this..?

[jumnien]

Thai govt is not holding any money on transfers for personal use or property purchase.

[lopburi3]

Do not transfer baht - send local currency to your account and you pay the baht - or send a "deposit" in foreign currency (less than normal exchange rate amount) to dealer account and you make up the difference. If you send baht the exchange rate will likely be really, really bad.

But your bank was right in that Thai banks were required to remit 30% to central bank at zero interest for one year to help prevent unwanted stock market activity. But all it took was you to advise purpose of money was for something else.