kscotland Posted October 4, 2009 Share Posted October 4, 2009 I am aware you need to declare any amount of money over a certain amount (like 5k?) Well if I go to heathrow, turn up to the desk to declare 30k, Ive been unemployed for 3-4 years, no assets, is there any reason why I should not be allowed through with it? granted, 30k is alot of money, but its not a huge amount, its just quite a big lump for a young guy who dosnt have a "sound reason" for having it. What is likely to happen in this circumstance? *my friend accumulated this money 100% legally. Secondly, Can any foreigner (uk citizen in this case) open up a Thai bank account in thailand, same type as you would get in the uk. And deposit this amount of cash into the bank, online (ie open it up in thailand, then deposit the funds via my online banking from my uk account?) thanks in advance Link to comment Share on other sites More sharing options...
Brigante7 Posted October 4, 2009 Share Posted October 4, 2009 No need to take it with you. Do you have a visa debit card? If so then open a bank account in Thailand and transfer your money to your account by inserting your debit card into a card reader in the bank, entering your pin number and then entering the amount you want to withdraw from your UK account. You will need your passport for I.D. Brigante7. Link to comment Share on other sites More sharing options...
Rionoir Posted October 4, 2009 Share Posted October 4, 2009 You need a work permit or student ED visa etc to open a bank account... if you're coming on a tourist visa you won't get a bank account most likely. (I don't know maybe with $30k you will? But when I opened mine they never asked how much I was depositing, just asked to see my work permit or ed visa) Link to comment Share on other sites More sharing options...
Forkinhades Posted October 4, 2009 Share Posted October 4, 2009 (edited) You need a work permit or student ED visa etc to open a bank account... if you're coming on a tourist visa you won't get a bank account most likely. (I don't know maybe with $30k you will? But when I opened mine they never asked how much I was depositing, just asked to see my work permit or ed visa) I have opened 3 bank accounts here on Tourist visas, but these rules do change all the time, and differ from bank to bank, and indeed branch to branch. Edited October 4, 2009 by Forkinhades Link to comment Share on other sites More sharing options...
Rionoir Posted October 4, 2009 Share Posted October 4, 2009 Did they ask you to deposit a certain amount? Or what city/bank was it? I wasn't able to open one until I had changed my visa to an ED visa, then it took 5 minutes to get the account opened at K bank in Bangkok. Link to comment Share on other sites More sharing options...
haybilly Posted October 5, 2009 Share Posted October 5, 2009 (edited) I am not a mod but I expect that this thread, as with his last, will be closed fairly soon--the OP has been reminded that discussion of illegal activities, or potentially illegal as attempting to exit UK with more than 5K cash certainly is, are not tolerated on TV. P>S. What are you 'selling on Ebay' that generates so much profit legally? Edited October 5, 2009 by haybilly Link to comment Share on other sites More sharing options...
jackr Posted October 5, 2009 Share Posted October 5, 2009 10,000 Euros or equivalent - here's the form. Think it's a similar figure coming into Thailand, or 50,000 baht. Best to open an account in Thailand (supposedly need a non-imm visa at the least) and SWIFT it over online. Link to comment Share on other sites More sharing options...
chiang mai Posted October 5, 2009 Share Posted October 5, 2009 What's likely to happen is two things: If you get found carrying that kind of cash at Heathrow you will be required to explain where it came from, produce receipts etc and it will almost certainly be taken away from you until you do produce those things - you are aware that the police deploy sniffer dogs at Heathrow to detect these things and that security staff at x-ray are also on the lookout. Secondly, assuming you make it Bangkok intact you will be required to declare the money at your point of entry otherwise you will not be allowed to take it back out of the country at a later date - that declaration process involves letting Immigration staff see the money, not something I would wish to do. You then have to get from the airport to a bank, in one piece and hope that Immigration staff or someone else involved in the declaration process hasn't set you up for a knock on the head or worse. Finally, you will need to deposit the money into a bank and bank officials will no doubt flag the fact that such a large deposit is being made etc etc.. No my friend, I personally wouldn't do any part of that, none what so ever, best you just stick it under your mattress in blighty or better still, put the money into your UK bank!!!. Link to comment Share on other sites More sharing options...
bigboob Posted October 5, 2009 Share Posted October 5, 2009 I am not a mod but I expect that this thread, as with his last, will be closed fairly soon--the OP has been reminded that discussion of illegal activities, or potentially illegal as attempting to exit UK with more than 5K cash certainly is, are not tolerated on TV.P>S. What are you 'selling on Ebay' that generates so much profit legally? weed! Link to comment Share on other sites More sharing options...
cyb Posted October 5, 2009 Share Posted October 5, 2009 If you declare the amount and have a legitimate reason for carrying such an amount then no problem. On several occasions i have travelled and declared in excess of 50k. If you can do that rather than transfer from the uk you will get a much better rate of exchange in thailand. Furthermore you do not need a work visa to open an account in thailand. Link to comment Share on other sites More sharing options...
Rionoir Posted October 5, 2009 Share Posted October 5, 2009 Funny how some people think the worst right away on this forum... but I guess he did say "no sound reason" lol I was thinking the same as the above poster though - you get a better exchange rate if you bring the cash with you instead of transfering it, at least from what I understood. There is a bank at the airport isn't there? I know there are a lot of currency exchanges, but I thought there was at least one bank there where you could I assume make a large deposit and maybe open an account? Link to comment Share on other sites More sharing options...
mca Posted October 5, 2009 Share Posted October 5, 2009 P>S. What are you 'selling on Ebay' that generates so much profit legally? "How much sinsod should I pay" pamphlets. Link to comment Share on other sites More sharing options...
flemmie Posted October 5, 2009 Share Posted October 5, 2009 DO NOT proceed as planned. Just open an account in the UK before leaving and deposit it there, get a credit card and you can withdraw any money you need here. Once you manage to open an account, you can transfer anything you want here. Nick Link to comment Share on other sites More sharing options...
cyb Posted October 5, 2009 Share Posted October 5, 2009 DO NOT proceed as planned. Just open an account in the UK before leaving and deposit it there, get a credit card and you can withdraw any money you need here. Once you manage to open an account, you can transfer anything you want here.Nick At how much cost to the op in exchange? Link to comment Share on other sites More sharing options...
Kitsch22 Posted October 5, 2009 Share Posted October 5, 2009 I am aware you need to declare any amount of money over a certain amount (like 5k?)Well if I go to heathrow, turn up to the desk to declare 30k, Ive been unemployed for 3-4 years, no assets, is there any reason why I should not be allowed through with it? granted, 30k is alot of money, but its not a huge amount, its just quite a big lump for a young guy who dosnt have a "sound reason" for having it. What is likely to happen in this circumstance? *my friend accumulated this money 100% legally. If you are leaving EU via a UK port and are taking with you more than €10,000 (equivalent) in currency (including travellers cheques and similar instruments) then you must make a declaration to HMRC using form C9011. Additionally you must answer all and any questions that HMRC may put to you concerning the money. It does not end there. Even if you have made the declaration, HMRC may detain/seize the money if they suspect that it may be proceeds of crime and it is likely that in those circumstances they would make an application for forfeiture of the detained cash which would be heard by the magistrates court for the area covering the port where the cash was detained. Moreover, the same detention and forfeiture provisions apply for sums under €10,000. However, the positive obligation to make the written declaration commences only at that level. Link to comment Share on other sites More sharing options...
charlieBrown Posted October 5, 2009 Share Posted October 5, 2009 (edited) Funny how some people think the worst right away on this forum... but I guess he did say "no sound reason" lol I was thinking the same as the above poster though - you get a better exchange rate if you bring the cash with you instead of transfering it, at least from what I understood.There is a bank at the airport isn't there? I know there are a lot of currency exchanges, but I thought there was at least one bank there where you could I assume make a large deposit and maybe open an account? your advice is so way off the planet its downright absurd. currency exchange 30k$? . he will still then have 30$k Edited October 5, 2009 by charlieBrown Link to comment Share on other sites More sharing options...
chiang mai Posted October 5, 2009 Share Posted October 5, 2009 DO NOT proceed as planned. Just open an account in the UK before leaving and deposit it there, get a credit card and you can withdraw any money you need here. Once you manage to open an account, you can transfer anything you want here.Nick At how much cost to the op in exchange? If the OP transfers the money to Thailand electronically the transfer costs will amount to anywhere from nothing to perhaps twenty Pounds or more, based on how he chooses to transfer. If he then converts his Pounds to Thai Baht in Thailand he will make large savings over the UK based exchange rates - the spread (difference between the buy and sell prices) in the UK is huge (often ten baht or more) whereas in Thailand it is typically around one baht or so, very cost effective. Link to comment Share on other sites More sharing options...
Tagaa Posted October 5, 2009 Share Posted October 5, 2009 A few points: 1) I opened a bank account here at Krung Thai Bank & had to provide my passport to prove identity. No one ever asked what kind of visa I had. 2) I made a VERY LARGE CASH deposit, again, no questions, but the lady's eyes did bug out like a stomped on bullfrog. 3) Re: exchange rates...You will always get a higher rate on a wire transfer (noted as TT on FX websites) than you will ever get exchanging notes. A quick check of Bangkok Banks FX page shows the current buy rate for Pound Sterling notes is 52.62, the buy rate for TT (Telegraphic Transfer) is 53.21 Link to comment Share on other sites More sharing options...
cyb Posted October 5, 2009 Share Posted October 5, 2009 Funny how some people think the worst right away on this forum... but I guess he did say "no sound reason" lol I was thinking the same as the above poster though - you get a better exchange rate if you bring the cash with you instead of transfering it, at least from what I understood.There is a bank at the airport isn't there? I know there are a lot of currency exchanges, but I thought there was at least one bank there where you could I assume make a large deposit and maybe open an account? your advice is so way off the planet its downright absurd. currency exchange 30k$? . he will still then have 30$k ????????????? Link to comment Share on other sites More sharing options...
chiang mai Posted October 5, 2009 Share Posted October 5, 2009 Funny how some people think the worst right away on this forum... but I guess he did say "no sound reason" lol I was thinking the same as the above poster though - you get a better exchange rate if you bring the cash with you instead of transfering it, at least from what I understood.There is a bank at the airport isn't there? I know there are a lot of currency exchanges, but I thought there was at least one bank there where you could I assume make a large deposit and maybe open an account? If you walk around Bangkok and try a few different banks you will almost certainly find one that will open an account for you using a tourist visa, Kasikorn Bank is likely to be the most receptive and is a very good bank. Trouble is, do you really want to be walking around Bangkok with 30K in your pocket, I wouldn't. Alternatively you could go to Super Rich, the money changer opposite the World Trade Center where you will almost surely get the best exchange rates, they are used to seeing customers walk in with several millions of Baht for exchange - but you still have the same problem of walking around with large amounts of cash and you will soon become a target. Link to comment Share on other sites More sharing options...
cyb Posted October 5, 2009 Share Posted October 5, 2009 I am aware you need to declare any amount of money over a certain amount (like 5k?)Well if I go to heathrow, turn up to the desk to declare 30k, Ive been unemployed for 3-4 years, no assets, is there any reason why I should not be allowed through with it? granted, 30k is alot of money, but its not a huge amount, its just quite a big lump for a young guy who dosnt have a "sound reason" for having it. What is likely to happen in this circumstance? *my friend accumulated this money 100% legally. If you are leaving EU via a UK port and are taking with you more than €10,000 (equivalent) in currency (including travellers cheques and similar instruments) then you must make a declaration to HMRC using form C9011. Additionally you must answer all and any questions that HMRC may put to you concerning the money. It does not end there. Even if you have made the declaration, HMRC may detain/seize the money if they suspect that it may be proceeds of crime and it is likely that in those circumstances they would make an application for forfeiture of the detained cash which would be heard by the magistrates court for the area covering the port where the cash was detained. Moreover, the same detention and forfeiture provisions apply for sums under €10,000. However, the positive obligation to make the written declaration commences only at that level. I was just looking for that info kitsch but you beat me to it. Link to comment Share on other sites More sharing options...
charlieBrown Posted October 5, 2009 Share Posted October 5, 2009 I am aware you need to declare any amount of money over a certain amount (like 5k?)Well if I go to heathrow, turn up to the desk to declare 30k, Ive been unemployed for 3-4 years, no assets, is there any reason why I should not be allowed through with it? granted, 30k is alot of money, but its not a huge amount, its just quite a big lump for a young guy who dosnt have a "sound reason" for having it. What is likely to happen in this circumstance? *my friend accumulated this money 100% legally. Secondly, Can any foreigner (uk citizen in this case) open up a Thai bank account in thailand, same type as you would get in the uk. And deposit this amount of cash into the bank, online (ie open it up in thailand, then deposit the funds via my online banking from my uk account?) thanks in advance no offense but legit 60,000$ is not carried in cash. im sure your customs have more intelligence than those who post here Link to comment Share on other sites More sharing options...
chiang mai Posted October 5, 2009 Share Posted October 5, 2009 A few points:1) I opened a bank account here at Krung Thai Bank & had to provide my passport to prove identity. No one ever asked what kind of visa I had. 2) I made a VERY LARGE CASH deposit, again, no questions, but the lady's eyes did bug out like a stomped on bullfrog. 3) Re: exchange rates...You will always get a higher rate on a wire transfer (noted as TT on FX websites) than you will ever get exchanging notes. A quick check of Bangkok Banks FX page shows the current buy rate for Pound Sterling notes is 52.62, the buy rate for TT (Telegraphic Transfer) is 53.21 Almost 100% correct except that Super Rich in BKK tends to beat even the TT rate, but not by much. Link to comment Share on other sites More sharing options...
cyb Posted October 5, 2009 Share Posted October 5, 2009 Funny how some people think the worst right away on this forum... but I guess he did say "no sound reason" lol I was thinking the same as the above poster though - you get a better exchange rate if you bring the cash with you instead of transfering it, at least from what I understood.There is a bank at the airport isn't there? I know there are a lot of currency exchanges, but I thought there was at least one bank there where you could I assume make a large deposit and maybe open an account? If you walk around Bangkok and try a few different banks you will almost certainly find one that will open an account for you using a tourist visa, Kasikorn Bank is likely to be the most receptive and is a very good bank. Trouble is, do you really want to be walking around Bangkok with 30K in your pocket, I wouldn't. Alternatively you could go to Super Rich, the money changer opposite the World Trade Center where you will almost surely get the best exchange rates, they are used to seeing customers walk in with several millions of Baht for exchange - but you still have the same problem of walking around with large amounts of cash and you will soon become a target. The one thing that remains chaing mai is that he needs to show legitimate reasons for having that amount in the declaration. Link to comment Share on other sites More sharing options...
chiang mai Posted October 5, 2009 Share Posted October 5, 2009 Funny how some people think the worst right away on this forum... but I guess he did say "no sound reason" lol I was thinking the same as the above poster though - you get a better exchange rate if you bring the cash with you instead of transfering it, at least from what I understood.There is a bank at the airport isn't there? I know there are a lot of currency exchanges, but I thought there was at least one bank there where you could I assume make a large deposit and maybe open an account? If you walk around Bangkok and try a few different banks you will almost certainly find one that will open an account for you using a tourist visa, Kasikorn Bank is likely to be the most receptive and is a very good bank. Trouble is, do you really want to be walking around Bangkok with 30K in your pocket, I wouldn't. Alternatively you could go to Super Rich, the money changer opposite the World Trade Center where you will almost surely get the best exchange rates, they are used to seeing customers walk in with several millions of Baht for exchange - but you still have the same problem of walking around with large amounts of cash and you will soon become a target. The one thing that remains chaing mai is that he needs to show legitimate reasons for having that amount in the declaration. Indeed, I can only offer assistance with the mechanics, it's down to the OP to prove the legalities. If the OP is a crook then he deserves to get caught, if he's legit then proving the source of funds to the authorities will not be an issue. Link to comment Share on other sites More sharing options...
imaneggspurt Posted October 5, 2009 Share Posted October 5, 2009 If i were you id deposit in a uk bank bit by bit, then you can draw out in thailand over the counter with a debit card,, ive taken out 10k uk a day and they didnt bat an eyelid, .ps if you declare that amount at LHR you WILL get a grilling, Link to comment Share on other sites More sharing options...
cyb Posted October 5, 2009 Share Posted October 5, 2009 I am aware you need to declare any amount of money over a certain amount (like 5k?)Well if I go to heathrow, turn up to the desk to declare 30k, Ive been unemployed for 3-4 years, no assets, is there any reason why I should not be allowed through with it? granted, 30k is alot of money, but its not a huge amount, its just quite a big lump for a young guy who dosnt have a "sound reason" for having it. What is likely to happen in this circumstance? *my friend accumulated this money 100% legally. Secondly, Can any foreigner (uk citizen in this case) open up a Thai bank account in thailand, same type as you would get in the uk. And deposit this amount of cash into the bank, online (ie open it up in thailand, then deposit the funds via my online banking from my uk account?) thanks in advance no offense but legit 60,000$ is not carried in cash. im sure your customs have more intelligence than those who post here Charlie brown, It would seem that you are not wise to the traffic thru bkk. There are many that travel with large amounts of money (cash) legit or otherwise. Maybe some on here are more street wise than you. Link to comment Share on other sites More sharing options...
imaneggspurt Posted October 5, 2009 Share Posted October 5, 2009 I am not a mod but I expect that this thread, as with his last, will be closed fairly soon--the OP has been reminded that discussion of illegal activities, or potentially illegal as attempting to exit UK with more than 5K cash certainly is, are not tolerated on TV.P>S. What are you 'selling on Ebay' that generates so much profit legally? It is NOT illegal to depart the uk with over 5k, he can declare it ,and i think he mentioned that ?.and why should he reveal his business to you, ! Link to comment Share on other sites More sharing options...
chiang mai Posted October 5, 2009 Share Posted October 5, 2009 If i were you id deposit in a uk bank bit by bit, then you can draw out in thailand over the counter with a debit card,, ive taken out 10k uk a day and they didnt bat an eyelid, .ps if you declare that amount at LHR you WILL get a grilling, In the US it's called the 10K rule where banks must report to the Fed any cash deposit over USD 10,000, in the UK it's similar except that any combination of cash deposits over time requires evidence of its source - so probably not best to drip feed that amount, even over time. Link to comment Share on other sites More sharing options...
imaneggspurt Posted October 5, 2009 Share Posted October 5, 2009 If you declare the amount and have a legitimate reason for carrying such an amount then no problem.On several occasions i have travelled and declared in excess of 50k. If you can do that rather than transfer from the uk you will get a much better rate of exchange in thailand. Furthermore you do not need a work visa to open an account in thailand. Correct, what is it with all these "no nothing " posters giving stupid advice,. jealous of someone having 30k .? Link to comment Share on other sites More sharing options...
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