chiang mai 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, ! Did you not read the other posts in this thread, the issue is not one of legality but of proof of the source of funds and the right of HMRC to seize cash over GBP1k without documentary proof of its source. Link to comment Share on other sites More sharing options...
cyb 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, Iman. I have come through heathrow/Gatwick/manchester with way in excess of the op, Properly declared then there really is no problem. 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, 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. Well it worked for me, 25k in 3 months, however if an account that has been dormant is used it may cause a raised eyebrow, a letter from granny as a gift may work too ,as in my case ! 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, Iman. I have come through heathrow/Gatwick/manchester with way in excess of the op, Properly declared then there really is no problem. " Properly declared then there really is no problem." ..thats the bit that matters, Link to comment Share on other sites More sharing options...
syd barrett 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 From personal experience it is not as easy as you might think to leave LHR with a large amount of cash. I was stopped with (less than 10,000 GBP) cash and was grilled by two unpleasant blokes for 20 minutes. I was lucky that I was able to persuade them that I had earned the money legit. What was most worrying, was that their immediate response was they would confiscate the money immediately as a matter of course and I could claim it back later after providing proof of source. (Not much good when you are on a flight to Thailand). Anyway, once bitten......... The maximum cash I carry now is never more than 1K GBP. Link to comment Share on other sites More sharing options...
imaneggspurt 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? 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, ! Did you not read the other posts in this thread, the issue is not one of legality but of proof of the source of funds and the right of HMRC to seize cash over GBP1k without documentary proof of its source. Well. on my last trip to bkk i was stopped at LHR at the walk through barrier as the machine went off, i was hand frisked and he found my money belt around my waist, he asked me to open it and asked how much is in there , i replied 5k, he said how long you going for i said 3 months, good day sir, and on my way,.fact,. Edited October 5, 2009 by imaneggspurt Link to comment Share on other sites More sharing options...
cyb 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, Iman. I have come through heathrow/Gatwick/manchester with way in excess of the op, Properly declared then there really is no problem. " Properly declared then there really is no problem." ..thats the bit that matters, The other thing is iman if it's not legit depositing it in a uk bank can also give problems. I was investigated once by the inland revenue with no case to answer. 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. Well it worked for me, 25k in 3 months, however if an account that has been dormant is used it may cause a raised eyebrow, a letter from granny as a gift may work too ,as in my case ! Your granny (or her beneficiaries) wont thank you if she were to pass within seven years of the supposed gift since the Revenue will include that amount in her estate for Inheritance Tax purposes - I use the example to demonstrate the extent to which all things are linked these days, especially when it comes to HMRC and money. 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 From personal experience it is not as easy as you might think to leave LHR with a large amount of cash. I was stopped with (less than 10,000 GBP) cash and was grilled by two unpleasant blokes for 20 minutes. I was lucky that I was able to persuade them that I had earned the money legit. What was most worrying, was that their immediate response was they would confiscate the money immediately as a matter of course and I could claim it back later after providing proof of source. (Not much good when you are on a flight to Thailand). Anyway, once bitten......... The maximum cash I carry now is never more than 1K GBP. As already said legit reasons then no problem. Link to comment Share on other sites More sharing options...
syd barrett Posted October 5, 2009 Share Posted October 5, 2009 Well. on my last trip to bkk i was stopped at LHR at the walk through barrier as the machine went off, i was hand frisked and he found my money belt around my waist, he asked me to open it and asked how much is in there , i replied 5k, he said how long you going for i said 3 months, good day sir, and on my way,.fact,. IMHO you were lucky. The problem is, if you get a jobsworth on a bad day, he will call in his buddies to give you a grilling. If anything, in recent years, the security and scrutinization of passengers at LHR has increased exponentially. Link to comment Share on other sites More sharing options...
gvallee2 Posted October 5, 2009 Share Posted October 5, 2009 Teacher goes broke w/ nana angel Goes back to UK sells drugs Comes back with yearly salary for 'girlfriend' Really sounds like this Link to comment Share on other sites More sharing options...
PattayaParent 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. Do you not think that they might have just have sneaked a peek inside the passport to see what your visa status was? Or did they just take it and not even open it? Link to comment Share on other sites More sharing options...
PattayaParent Posted October 5, 2009 Share Posted October 5, 2009 Maybe this will help the OP http://www.thaivisa.com/forum/index.php?s=...t&p=3046503 Link to comment Share on other sites More sharing options...
Garry9999 Posted October 5, 2009 Share Posted October 5, 2009 Try this site http://customs.hmrc.gov.uk/channelsPortalW...tyType=document 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? your advice is so way off the planet its downright absurd. currency exchange 30k$? . he will still then have 30$k Wow, good thing you changed to your troll account before you post something you know nothing about... Link to comment Share on other sites More sharing options...
yabaaaa Posted October 5, 2009 Share Posted October 5, 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) Rubbish, I have neither and opened a bank acc. Link to comment Share on other sites More sharing options...
yabaaaa 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? What drivel you can take 10000 EUROS worth without declaring anything Link to comment Share on other sites More sharing options...
chiang mai Posted October 5, 2009 Share Posted October 5, 2009 "The new rules apply if you are travelling to or from a country which is outside the European Union (EU). You must declare any cash you are carrying if it is 10,000 Euros or more (or the equivalent in other currencies).You could face paying a ?5000 penalty if you fail to declare the cash or if you give wrong or incomplete information". Link to comment Share on other sites More sharing options...
Patsycat Posted October 5, 2009 Share Posted October 5, 2009 I've got a nice Swiss bank account you could send it to. Link to comment Share on other sites More sharing options...
Geekfreaklover Posted October 5, 2009 Share Posted October 5, 2009 (edited) Take 1k with you. The rest deposit into a number of different accounts in the UK. If you trust a family member give them power of attorney to wire transfer. Also open up some paypal accounts. You could even buy some gold to resell over here. Once in Thailnd open a bank account or two. Start sending the money in small lumps through wire transfers. Send some money through paypal linked to a Thai account. If you have bought gold sell it - Although I know nothing about the different costs of gold and whether it would be worth it. I wouldn't feel comfortable walking through customs if 1) it wasn't mine and 2) I was unable to explain where it came from. Edited October 5, 2009 by Geekfreaklover Link to comment Share on other sites More sharing options...
scorecard 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. There is, perhaps (repeat perhaps) another point. My understanding is that Thai banks are required, by Bank of Thailand regulations, to report deposits (by both Thais and foreigners) over a certain amount in connection with checks about money laundering. I must admit that I don't know what the amount is - can anybody share more info on this point, please? Link to comment Share on other sites More sharing options...
clinique 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. Agreed, the saest and most cost effective way. The othe ris to leave it in yout UK account, get an ATM /debit card on the account. Go to Thailand, open an accountand withdraw by cash advance at the Thai bank in baht ( no fees) from your UK account. Deposit to Thai bank account. Same result. Legal. With anti money laundering laws these days carrying cash in such amounts is asking for trouble. Link to comment Share on other sites More sharing options...
britmaveric Posted October 5, 2009 Share Posted October 5, 2009 All you need is your passport to open a savings account. No visa necessary. Kasikorn Bank will sort you out. Link to comment Share on other sites More sharing options...
s2wut Posted October 5, 2009 Share Posted October 5, 2009 The best way to do it is by bank account. Because you can only take money out of thailand you legally take in , and to open a bank account you have to inform imigrations so legally the better. You will lose to much money sending by western union or any money gram. How many are going with you. Because the best way is £500 traveler checks and split them between your mates because you get better exchange rate .. What do you intend to buy with it ? Link to comment Share on other sites More sharing options...
Garry9999 Posted October 5, 2009 Share Posted October 5, 2009 (edited) The best way to do it is by bank account. Because you can only take money out of thailand you legally take in , and to open a bank account you have to inform imigrations so legally the better. You will lose to much money sending by western union or any money gram. How many are going with you. Because the best way is £500 traveler checks and split them between your mates because you get better exchange rate .. What do you intend to buy with it ? Did you read the thread? he can take 10,000 euro out undeclared. Edit: travelers checks are considered cash too. Edited October 5, 2009 by Garry9999 Link to comment Share on other sites More sharing options...
Geekfreaklover Posted October 5, 2009 Share Posted October 5, 2009 It's a non-brainer not to open a bank account in Thailand, if you are trying to handle 30k here. But as far as I know to send a wire transfer from a UK account to A Thai bank you would have to be in the UK sign the documents with ID. So he would have to fly to Thailand then back to England and then back to Thailand, unless he gives somebody a power of attorney or if there is a way to do it this end electronically. I think a wire for 30k would have be signed in person. Link to comment Share on other sites More sharing options...
AbeSurd Posted October 5, 2009 Share Posted October 5, 2009 to open a bank account you have to inform imigrations This is the first time I've ever heard of any such requirement. Link to comment Share on other sites More sharing options...
AbeSurd Posted October 5, 2009 Share Posted October 5, 2009 But as far as I know to send a wire transfer from a UK account to A Thai bank you would have to be in the UK sign the documents with ID. You can do it by phone with Lloyds TSB. They call it an international money transfer. Three weeks ago the daily limit by phone was £5000. Link to comment Share on other sites More sharing options...
Garry9999 Posted October 5, 2009 Share Posted October 5, 2009 to open a bank account you have to inform imigrations This is the first time I've ever heard of any such requirement. That's because it's not true. Link to comment Share on other sites More sharing options...
chiang mai Posted October 5, 2009 Share Posted October 5, 2009 to open a bank account you have to inform imigrations This is the first time I've ever heard of any such requirement. And hopefully the last also, utter rubbish. Link to comment Share on other sites More sharing options...
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