Jimpty Posted August 21, 2009 Share Posted August 21, 2009 Hi, I am bringing in a great amount of money, foreign currency, which will be exported a few weeks later. It's just transiting through Thailand. The problem is, that the money will be carried out by another person. What is the correct way to do? Is there any restriction of foreign money to be exported from Thailand? Do I have to declare the money before entering Thailand? Can the same amount be exported by another person? Many thanks for your help. Best Regards, JIM Link to comment Share on other sites More sharing options...
oldgeezer Posted August 21, 2009 Share Posted August 21, 2009 (edited) Hi, I am bringing in a great amount of money, foreign currency, which will be exported a few weeks later. It's just transiting through Thailand. The problem is, that the money will be carried out by another person. What is the correct way to do? Is there any restriction of foreign money to be exported from Thailand? Do I have to declare the money before entering Thailand? Can the same amount be exported by another person? Many thanks for your help. Best Regards, JIM What amount and what currency? There are declaration limits. Edited August 21, 2009 by oldgeezer Link to comment Share on other sites More sharing options...
Jimpty Posted August 21, 2009 Author Share Posted August 21, 2009 It will be Swiss Fr. Link to comment Share on other sites More sharing options...
Carmine6 Posted August 21, 2009 Share Posted August 21, 2009 Reporting requirement on the Thai end. There are usually similar reporting requirements into other countries. http://www.customs.go.th/Customs-Eng/Trave...?menuNme=Travel "For Foreign currency, any person who brings or takes and aggregate amount of foreign currency exceeding USD 20,000 or its equivalent out of or into the Kingdom of Thailand shall declare such amount of foreign currency to Customs. Failure to declare or make false declaration is a criminal offence. " Link to comment Share on other sites More sharing options...
nakachalet Posted August 21, 2009 Share Posted August 21, 2009 (edited) jim normally when an individual travels with currencies regardless of origin and amount, it is wise to only have on hand sufficient cash for daily incidentals, be it 10k or 20k usd depending on a person's life style, the rest be it 100k to millions usd would be in other forms of negotiable. your intention to carry on person stacks of currency would impress your companions and many others.... but that is hardly a safe way to travel.... in thailand, for as little as 2 mil bath in cash, a farang needs to declare to comply with money laundry regulations. i made such declaration twice last week..... under normal condition, you exit a country the same way as you enter.... but if you wish to do something "significance" in between, and have someone else acting as your carrier, on your way out....; just ascertain that he or she can withstand the scrutiny.... which may or may not happen.... only you know what your intention is.... really, what you are planning to do seems exciting to many travelers but in reality it is rather immature at best.... lol ENGAGE A PROFESSIONAL LICENSED INTERNATIONAL CARRIER. you surely can afford it, right? Edited August 21, 2009 by nakachalet Link to comment Share on other sites More sharing options...
manzan Posted August 21, 2009 Share Posted August 21, 2009 i do know that banking wise, i can transfer as much in as i want, but i cant transfer anything out! Link to comment Share on other sites More sharing options...
Naam Posted August 21, 2009 Share Posted August 21, 2009 really, what you are planning to do seems exciting to many travelers but in reality it is rather immature at best.... lol ENGAGE A PROFESSIONAL LICENSED INTERNATIONAL CARRIER. you surely can afford it, right? he might be able to afford it but he won't find one which handles cash. Link to comment Share on other sites More sharing options...
Latindancer Posted August 22, 2009 Share Posted August 22, 2009 i do know that banking wise, i can transfer as much in as i want, but i cant transfer anything out! What if you started a company ? Surely businesses transfer cash overseas regularly ? And how about Thai people ? Don't rich Thais transfer money overseas for business reasons, or if they move overseas ? Link to comment Share on other sites More sharing options...
thaihome Posted August 26, 2009 Share Posted August 26, 2009 i do know that banking wise, i can transfer as much in as i want, but i cant transfer anything out! Virtually all Thai Banks will allow you to make SWIFT transfer to banks outside Thailand. I think for large amounts you will have to tell them the source of the funds. TH Link to comment Share on other sites More sharing options...
Pushit Posted August 26, 2009 Share Posted August 26, 2009 There are people here waiting for people like you Link to comment Share on other sites More sharing options...
ballbreaker Posted August 26, 2009 Share Posted August 26, 2009 (edited) Must be a Yank closing his Swiss bank account before details are released to US authorities. Edited August 26, 2009 by ballbreaker Link to comment Share on other sites More sharing options...
Jimpty Posted August 26, 2009 Author Share Posted August 26, 2009 There are people here waiting for people like you Shall contact me.....make the money switch in europe. Link to comment Share on other sites More sharing options...
Jimpty Posted August 26, 2009 Author Share Posted August 26, 2009 Must be a Yank closing his Swiss bank account before details are released to US authorities. Not a Yank or Brit.... Link to comment Share on other sites More sharing options...
jc14all Posted August 26, 2009 Share Posted August 26, 2009 Adding to the ongoing discussion of money in and out of Thailand, does anyone use or has anyone used Pay Pal as a means of moving money between accounts in Thailand? Link to comment Share on other sites More sharing options...
nakachalet Posted August 26, 2009 Share Posted August 26, 2009 jc14all a few previous posts indicating that the exchange rate at paypal was very much in favor of paypal, even though the fees might seem less expensive than other means. i have no personal knowledge though. the less than favorable exchange rate used by paypal might end up costing you more than other means. Link to comment Share on other sites More sharing options...
jc14all Posted August 26, 2009 Share Posted August 26, 2009 jc14alla few previous posts indicating that the exchange rate at paypal was very much in favor of paypal, even though the fees might seem less expensive than other means. i have no personal knowledge though. the less than favorable exchange rate used by paypal might end up costing you more than other means. Thank you nakachalet, I probably won't use paypal but I thought that it may be an option maybe for an emergency. Of course the opportunity cost is something that we all must face when the exchange rate plays a governing role. I appreciate your feedback. Link to comment Share on other sites More sharing options...
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