Limitations On Cash Into Thailand

[ozsamurai]

Going back for a holiday thought I may bring back a bit of cash, is there a limit or a declaraton needed for any amounts?? Why not bank transfer it?? Don't want to.

Cheers

Oz

[poshthai]

I thought the max in cash was 10,000 british pounds.

[chiangmaibruce]

http://www.thaivisa.com/forum/Restrictions...ey-t204188.html

This is marked "incoming money" but the restrictions on outgoing money are in the same BOT web page

there will also (probably) be restrictions on incoming money into the destination country, so you need to be aware of both countries policies

- CB

[Kerryd]

Here is the Bank of Thailand link to the info mentioned above:

Exchange Regulations in Thailand

However, keep in mind that most countries (that I'm aware of) have controls on the amount you can take out of that country. There are various laws (national/international) dealing with money laundering/drug trafficking, and in a lot of countries, anyone found to carrying large sums of cash may be suspected to be involved in such activities.

These days, it is much easier (and safer) to simply transfer the money. Less chance of being hassled by various security staff if found to be carrying large sums of cash. Also less chance of losing it/being robbed/etc.

If you have a Thai account, transfer the cash (keep in mind that there are probably rules in your home country about the amount you can transfer, per transaction, without having to report it. In Canada I believe the limit is under $10,000 Cdn per transaction). You may not get the same rate that you could by bringing the cash and exchanging it in country, but the small amount you'd lose in exchange rates may be worth the peace of mind.

If you don't have an account, bring a (smaller) sum of cash and then use your ATM/Credit Card for additional needs. I have a Thai account, but can't do a wire transfer to it from my Canadian bank, unless I'm in Canada at a local branch.

What I end up doing is making a cash withdrawal from my credit card(s) and depositing it in my Thai account. I can go online to my (Canadian) bank and make the payment(s) to my credit card.

I've found that also works better than simply drawing money out from an ATM (using my credit card or bank debit card), as there are no extra fees. I did that a couple of months ago (needed 750k to buy my motorbike). Took a couple trips to the bank (and phone calls to the credit card issuers), but when I reviewed my transaction statements later, no extra fees for making "cash withdrawals" or "cash advance" fees.

[alantheembalmer]

How much currency did you have in mind?

[Kerryd]

How much currency did you have in mind?

Why, are you planning on meeting him at the airport ?

(maybe giving him an up close and personal example of your profession)

[alantheembalmer]

How much currency did you have in mind?

Why, are you planning on meeting him at the airport ?

(maybe giving him an up close and personal example of your profession)

Bugger! I've been rumbled!

[ozsamurai]

I have a situation where I bank in a variety of countries, I recently did some transfers to my BKK Bank from Japan using Citibank. They no longer will accept online transfers for THB saying it is too risky. I have to process each transaction over the phone to Japan with an extra handling fee as well. Even though bank details were fine, it was rejected froom BK Bank side, wasted citbank fee, and then BKB took a chunk as well for returning it.....

I would be looking to move about 50-100K between 2 people, out of Oz

[RubbaJohnny]

I use SCB all the time fast efficient low fees compared to Swedish banks

[dr_Pat_Pong]

I have a situation where I bank in a variety of countries, I recently did some transfers to my BKK Bank from Japan using Citibank. They no longer will accept online transfers for THB saying it is too risky. I have to process each transaction over the phone to Japan with an extra handling fee as well. Even though bank details were fine, it was rejected froom BK Bank side, wasted citbank fee, and then BKB took a chunk as well for returning it.....

I would be looking to move about 50-100K between 2 people, out of Oz

You must each declare ANY amount exceeding US$20,000 to Customs on arrival to be permitted to take the money out again. Don't forget that Australian Customs will do you for carrying any more cash than AU$10,000 out of Australia.

[pampal]

Last month as I was exiting the customs at Suwanapoom, I saw a sign saying you have to declare more than 25000 USD.

[who]

Here is the Bank of Thailand link to the info mentioned above:

Exchange Regulations in Thailand

However, keep in mind that most countries (that I'm aware of) have controls on the amount you can take out of that country. There are various laws (national/international) dealing with money laundering/drug trafficking, and in a lot of countries, anyone found to carrying large sums of cash may be suspected to be involved in such activities.

These days, it is much easier (and safer) to simply transfer the money. Less chance of being hassled by various security staff if found to be carrying large sums of cash. Also less chance of losing it/being robbed/etc.

If you have a Thai account, transfer the cash (keep in mind that there are probably rules in your home country about the amount you can transfer, per transaction, without having to report it. In Canada I believe the limit is under $10,000 Cdn per transaction). You may not get the same rate that you could by bringing the cash and exchanging it in country, but the small amount you'd lose in exchange rates may be worth the peace of mind.

If you don't have an account, bring a (smaller) sum of cash and then use your ATM/Credit Card for additional needs. I have a Thai account, but can't do a wire transfer to it from my Canadian bank, unless I'm in Canada at a local branch.

What I end up doing is making a cash withdrawal from my credit card(s) and depositing it in my Thai account. I can go online to my (Canadian) bank and make the payment(s) to my credit card.

I've found that also works better than simply drawing money out from an ATM (using my credit card or bank debit card), as there are no extra fees. I did that a couple of months ago (needed 750k to buy my motorbike). Took a couple trips to the bank (and phone calls to the credit card issuers), but when I reviewed my transaction statements later, no extra fees for making "cash withdrawals" or "cash advance" fees.

Re: Cash Advance Fees - You seem to be very lucky indeed that your credit card co. doesn't charge fees when you get cash. I've never heard of this before. Most of my cards charge 2 or 3 percent right off the top. That is why I never do that any longer. For me the cheapest way to get cash is using travellers cheques. The drawbacks are you have to go to a bank (during thier hours) and have to have your passport. However you do get the best exchange rate except for TT. So being lazy, I always use the ATMs.

According to Credit.com:

"Most card issuers charge a hefty fee for a cash advance, usually in the neighborhood of 2 to 4 percent of the amount. Then, many charge more interest on cash advances than they do on purchases. And, on top of that, there’s usually no grace period—so the higher interest starts piling up right away."

Chok Dee, Bill

[david96]

You have to declare all amounts over AUD 10000 cash or foreign currency equivilents when leaving or arriving in Australia

Check this site http://www.austrac.gov.au/ftr_act.html

[brahmburgers]

Last month as I was exiting the customs at Suwanapoom, I saw a sign saying you have to declare more than 25000 USD.

Would have been interesting if such laws had applied to the Shinawatres. Right before and right after the coup in Sept. 2007, both he and his wife, individually, took cartloads of large suitcases on to planes - and I believe most, if not all the flights were with commercial carriers. Needless to say, no custom official came close to doing an inspection, and it's doubtful they asked any probing questions either.

[Chaimai]

Re: Cash Advance Fees - You seem to be very lucky indeed that your credit card co. doesn't charge fees when you get cash. I've never heard of this before. Most of my cards charge 2 or 3 percent right off the top. That is why I never do that any longer. For me the cheapest way to get cash is using travellers cheques. The drawbacks are you have to go to a bank (during thier hours) and have to have your passport. However you do get the best exchange rate except for TT. So being lazy, I always use the ATMs.

According to Credit.com:

"Most card issuers charge a hefty fee for a cash advance, usually in the neighborhood of 2 to 4 percent of the amount. Then, many charge more interest on cash advances than they do on purchases. And, on top of that, there's usually no grace period—so the higher interest starts piling up right away."

Chok Dee, Bill

Bill,

I too have never seen a credit card that does not charge (a) a cash advance fee and ( interest on the withdrawal from the date of withdrawal until the date repaid.

I have previously posted about the Nationwide card in the UK - this is a debit card not a credit card. Your account is debited immediately but there are no fees and the exchange rate aligns with BBK draft/TT rate i.e. at least as good as your travellers cheque rate AND you forgot to include the commission charge in the cost factor for t/cqs.