Getting Money Out Of The Country?

[Dirk_brijs]

need to get a large amount of money out of the country (over 1mil)

can yopu just take it in cash with you over Swanapoom or is there a better way

dont realy like the way banks do international transfers hereits like a big hassle.

[PattayaParent]

1 mill in cash will be too big for your pocket.

Buy a bank draft in your preferred currency and carry it in your pocket.

[keeniau96]

Forex transaction of over US$20,000 (qr equivalent) in any Thai bank requires special permission from head office, thus a full page of detailed info about who, what, where, and particularly why this transaction. Need some supporting document such as invoice, license, etc. This is for wire transfers and almost certainly for sight drafts. Note that 1 mn baht may not be overly large in your hand luggage if the inspectors look you will have trouble because of the limit on Thai currency allowed to be carried oabroad; believe it is 50,000 baht. If you do get it out there may be some problem in converting it.

[Yamantaka]

Is that a million baht, euros, dollars? If its only baht just leave it in your bank account and then make withdrawals using ATMs in your destination country.

[ianguygil]

This is covered in other threads. The regulations on moving money out of the country are standard. I think we all agree that money laundering and terrorist financing need to be controlled.

Just go to a bank, ask them either to transfer (no hassle, just give the the account details you want to transfer to) or a bank draft as mentioned. However, in either case you will need to comply with the central bank reporting requirements.

Taking more than 10,000 THB in Thai bank notes, or the currenc equivalent of 10,000 USD (in banknotes other than THB) is illegal. All countries have such rules, the UK, the US, Australia.

If you can not explain how you got the cash then you have a problem. But if you have been working (legally) or living here and transferred the funds in before (legally) you are ok.

[gotlost]

The banking law states you can take out what you can prove you brought into Thailand.

[ianguygil]

And a percentage of what you have (legally) earned in Thailand or what is the result of an investment in Thailand

[gregb]

Taking more than 10,000 THB in Thai bank notes, or the currenc equivalent of 10,000 USD (in banknotes other than THB) is illegal. All countries have such rules, the UK, the US, Australia.

Is this a new rule? The last time I read the regulations, you could carry 50,000 THB in cash, or 500,000 THB in cash if you were going to a neighbouring country. Further, there is no limit on foreign currency, other than the general restriction that you can not legally export more than you declared importing, or earned and paid Thai taxes on. There is a limit on bank drafts and travellers checks of maximum $20,000, but specifically no limit on cash or coins.

The $10,000 USD limit is only something imposed in foreign countries. Thailand doesn't care. I've carried through $30K USD before and nobody said a word.

Practically, just go down to an Indian exchange shop on lower Sukhumvit, exchange however much you need for 500 Euro notes, and go through the airport. No problems.

Otherwise, if it is only 1 million baht, simply get your girlfriend/wife/friend to fly with you to KL. You get 500k each and no questions asked. I see Thais carrying sacks of cash all the time to the border casinos, so I don't believe there has been any change in this regulation.

I would use this unless someone here can point to a regulation later than 1997 which changes the currency export restrictions.

[Beardog]

Taking more than 10,000 THB in Thai bank notes, or the currenc equivalent of 10,000 USD (in banknotes other than THB) is illegal. All countries have such rules, the UK, the US, Australia.

Is this a new rule? The last time I read the regulations, you could carry 50,000 THB in cash, or 500,000 THB in cash if you were going to a neighbouring country. Further, there is no limit on foreign currency, other than the general restriction that you can not legally export more than you declared importing, or earned and paid Thai taxes on. There is a limit on bank drafts and travellers checks of maximum $20,000, but specifically no limit on cash or coins.

The $10,000 USD limit is only something imposed in foreign countries. Thailand doesn't care. I've carried through $30K USD before and nobody said a word.

Practically, just go down to an Indian exchange shop on lower Sukhumvit, exchange however much you need for 500 Euro notes, and go through the airport. No problems.

Otherwise, if it is only 1 million baht, simply get your girlfriend/wife/friend to fly with you to KL. You get 500k each and no questions asked. I see Thais carrying sacks of cash all the time to the border casinos, so I don't believe there has been any change in this regulation.

I would use this unless someone here can point to a regulation later than 1997 which changes the currency export restrictions.

If you have $10,000 in USD & 10 baht Thai currency you are over the $10,000 allowed without declaring the funds

The metal detectors are sensitive to pick up the platinum in the bands of USD currency & is how the feds usually nab money laundering mules . It in fact is an older law The penalty is full forfeiture of funds a trip to the pokey & an appointment with a hearing date with a judge.....money is fully forfeited for non disclosure over $10,000 including the bahts value or yen or rupie or any other form of monetary fund. You can get away with it but if you get caught you loose a lot. You can declare if it is legal funds & avoid the hassle. I just brought $9,945 & 1200 baht for the taxi back home in Thailand. I saw them nail an Indian guy with a briefcase full of bills & confiscated them ...so you can get away with it maybe not. If it is clean money just declare it. you won't get taxed on it & the IRS is not likely to red flag $30,000. And no I am not the kinda guy that likes authority figures- just like minimizing the chances for mistakes- so I don't have to deal with them.

If your going back to the states a money belt with slightly under $10,000 comes up less than a wire transfer western union, using your Thai ATM card in the U.S. to transfer etc. That to & it is an act of god to get a transfer of funds out of the country through the banks.

Good luck on whatever way you go. SCB told me the best & cheapest way was to take under $10,000(in a money) belt in to the U.S to save the extra transfer costs & advised not to use the card & deposit funds into your U.S. acct. as they will ream you in the states on Thai baht transactions.(Not a preferred form of cash to the banks)

I just read yesterday their is no restrictions on bringing gold in to convert to cash- but have no idea what the commission for Thai gold would be. I think I would call customs & get an verification yo be on the safe side.

Edited December 3, 2009 by Beardog

[chiang mai]

This subject gets covered and explained in great detail every month for at least the past three years, I haven't checked but it's probably a pinned topic - do a search on this forum to see the many ways what you require is possible.

[gregb]

If you have $10,000 in USD & 10 baht Thai currency you are over the $10,000 allowed without declaring the funds

There is no $10,000 limit in Thailand, and the OP said nothing about travelling to the US.

Import restrictions in the destination country are another thing, but there are no restriction leaving Thailand with foreign currency, other than the overriding rule which says you can not export more than you have imported. I've taken $30K USD through the airport before with no issues.

[ianguygil]

From the Thai customs website - the actual amounts have changed from those in my note but the restrictions still exist - 50,000 THB except to the listed countries, 20,000 USD to all countries. 30,000 USD is not legal without a declaration. And if you declare they will (rightly) ask for the source of the funds.

"Currency Limitation For Thai currency, the amount of Baht 50,000 or more must be reported on departure to Customs, except those traveling to Lao PDR., Myanmar, Cambodia, Malaysia, and Vietnam are allowed to take out Thai currency not exceeding 500,000 Baht.

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. "

http://www.customs.go.th/Customs-Eng/Trave...enuNme=Travel#9

If you have $10,000 in USD & 10 baht Thai currency you are over the $10,000 allowed without declaring the funds

There is no $10,000 limit in Thailand, and the OP said nothing about travelling to the US.

Import restrictions in the destination country are another thing, but there are no restriction leaving Thailand with foreign currency, other than the overriding rule which says you can not export more than you have imported. I've taken $30K USD through the airport before with no issues.

[chiang mai]

If you have $10,000 in USD & 10 baht Thai currency you are over the $10,000 allowed without declaring the funds

There is no $10,000 limit in Thailand, and the OP said nothing about travelling to the US.

Import restrictions in the destination country are another thing, but there are no restriction leaving Thailand with foreign currency, other than the overriding rule which says you can not export more than you have imported. I've taken $30K USD through the airport before with no issues.

But, you didn't stop and ask if that was OK because if you had of done so the answer would have been a resounding, NO. Read BOT regulations on this subject for more info.

[gregb]

But, you didn't stop and ask if that was OK because if you had of done so the answer would have been a resounding, NO. Read BOT regulations on this subject for more info.

Actually it was about 6 years ago, and I did ask. Not at the airport, but I did ask an immigration official (not a customs official however.) There was no web at that time. I remember specifically they said that only bank drafts and travellers cheques were covered under the $20K limit, that bank notes and coins were not mentioned in the 1997 regulation. Wonder now if there was a language problem and what they really meant was "nobody will know if it is cash, so don't worry about it."

Now that I think about it, I must have been mistaken. Of course it was only $20K. I would never do something that could be considered a criminal offence. Nothing to see here. Move along.

[torrenova]

You can move very large sums out of the country through the ATM network. My Bangkok Bank accounts are Bt500,000 each per day and Siam Commercial Bank are Bt200,000 I think at least. 5 accounts with each would be 3.5m baht per day through the ATM. That is 24.5m a week or 105m a month. Just how much do you want ?

As for transfers, if you had a foreign company then that company could invoice you and as far as I can see, that would be just about all that was required.