Taking Money Out Of Thailand

[maxcherry]

I intend to make the permanent move to Thailand in a couple of months. I will be cashing my chips in at home and taking the lot with me(ELECTRONIC TRANSFER). I have a couple of bank accounts already set up. My question is if it all goes tits up can I take this money back out of Thailand.

Cheers

[bino]

A good friend who was full of advice when I first arrived in the LOS told me how to leave Thailand with a small fortune;

Arrive with a BIG one!

[RDN]

I intend to make the permanent move to Thailand in a couple of months.  I will be cashing my chips in at home and taking the lot with me(ELECTRONIC TRANSFER).  I have a couple of bank accounts already set up.  My question is if it all goes tits up can I take this money back out of Thailand.

Cheers

<{POST_SNAPBACK}>

I think most people keep most of their money out of Thailand - offshore even - and just bring in what they need, when they need it

[ThaiPauly]

You can sell everything in and take your country's currency IN CASH

I don't beleive there is any law preventing you from doing this, I just dont know about the law in your country of origin regarding how much cash you are allowed to bring in!

Do you have to bring EVERYTHING you have here, cant you leave some of it at home and just transfer what you need when you need it.? Thats what I do.

If anyone knows better than me then I am perfectly happy to be enlightened

[pautai]

I intend to make the permanent move to Thailand in a couple of months.  I will be cashing my chips in at home and taking the lot with me(ELECTRONIC TRANSFER).  I have a couple of bank accounts already set up.  My question is if it all goes tits up can I take this money back out of Thailand.

Cheers

<{POST_SNAPBACK}>

2 quick answers , it WILL go pear shaped and you wont have any moaney left to take out >>

so dont worry about it .just surrender your cash to a girl and switch off your brain !

[xbusman]

I agree with all the advice I have ever gotten on this subject, leave your money in a bank at home and use the ATM here to get cash as required. Never bring more here than you are willing to walk away from. Those are the words to live by when in LOS. It is entirely possible that the currency could melt down, government could change overnight, laws could change unannounced. I live my life in a manner which if they drove me to the airport with just the clothes on my back I could pick up again somewhere else. These words ring so wise I will repeat them.

NEVER EVER BRING MORE HERE THAN YOU ARE WILLING TO WALK AWAY FROM.

[andy50]

always have plan "b"

[bakachan]

It can get quite expensive using the atm machine on foreign accounts. I was quite shocked at the fees on my banking statement for just a few withdrawls.

What i would do is transfer small blocks of money into a thai bank and draw that

down as you go and wire in more when it runs low.

if your nest egg is in dollars ide be looking for ways to protect it by

putting it into foreign countries (banks) that have stable currencies relative to the

us dollar. some say there is a mess brewing with the dollar.

[maerim]

I live my life in a manner which if they drove me to the airport with just the clothes on my back I could pick up again somewhere else.

I know plenty of people like this but they live like this not through choice but because they don't have enough money to live the same as normal people.

Living in one room at 3,000 baht a month, no vehicle, not even a motorbike hanging around the same bars everyday with the same bunch of losers not for me thanks I enjoy my creature comforts too much.

As I don't break any laws either here or in my home country I don't see any problems and yes I do know money is not everything but it sure helps pay the bills.

[Totster]

It can get quite expensive using the atm machine on foreign accounts.  I was quite shocked at the fees on my banking statement for just a few withdrawls.

<{POST_SNAPBACK}>

If you bank with Nationwide in the UK withdrawals from ATM's overseas are FREE

totster

Edited April 25, 2005 by Totster

[naka]

Unless you have a very good reason to bring in ‘The Lot’, you should consider

opening a local account and only transferring in what you need every 3 to 6 months

say.

Money held in an account in Europe/US is freely transferable anywhere in the

world at short notice. This is not necessarily the case in Thailand.

[dr_Pat_Pong]

I intend to make the permanent move to Thailand in a couple of months.  I will be cashing my chips in at home and taking the lot with me(ELECTRONIC TRANSFER).  I have a couple of bank accounts already set up.  My question is if it all goes tits up can I take this money back out of Thailand.

Cheers

<{POST_SNAPBACK}>

2 quick answers , it WILL go pear shaped and you wont have any moaney left to take out >>

so dont worry about it .just surrender your cash to a girl and switch off your brain !

<{POST_SNAPBACK}>

[naka]

It can get quite expensive using the atm machine on foreign accounts.  I was quite shocked at the fees on my banking statement for just a few withdrawls.

<{POST_SNAPBACK}>

If you bank with Nationwide in the UK withdrawals from ATM's overseas are FREE

totster

<{POST_SNAPBACK}>

I've heard others say Nationwide is free but their web site says

( cash withdrawal fee of just 1.50% (minimum £1.50))

Also, beware of poor exchange rates when using cards.

[dr_Pat_Pong]

You can sell everything in and take your country's currency IN CASH

I don't beleive there is any law preventing you from doing this, I just dont know about the law in your country of origin regarding how much cash you are allowed to bring in!

Do you have to bring EVERYTHING you have here, cant you leave some of it at home and just transfer what you need when you need it.? Thats what I do.

If anyone knows better than me then I am perfectly happy to be enlightened

<{POST_SNAPBACK}>

To legally take out cash of 10,000 US$ or equivalent, or greater, you must have declared the funds to Customs, on arrival in Muang Thai.

[buadhai]

It can get quite expensive using the atm machine on foreign accounts.  I was quite shocked at the fees on my banking statement for just a few withdrawls.

<{POST_SNAPBACK}>

What bank are you using? I'm at Bank of Internet. No fees for ATM withdrawals, decent exchange rate, almost 3% interest on my checking (current) account.

[pnustedt]

I suggest you talk to HSBC Bkk If you open a Premier A/c with them you can hold money in many currencies, they also have quite a few investment products

[jackr]

If you bring it in electronically, you shouldn't have a hassle taking it back out electronically as they'll know the money already came from overseas. When you can't show that it has come from overseas, i.e. illegal earnings over here, is when it gets sticky taking it out. As others have said though, by all means sell everything and come over but what's the point in bunging it all in a Thai bank account? Halifax websaver account pays a decent rate (assume you're a Brit?) and you have access to all your money online when you want. Will be tax-free also as you won't be residing there. Otherwise try the Channel Islands or the Caymans.

[doctormann]

When I set up my savings account with TMB in Pattaya I was asked if I wanted just an ordinary ATM card or an 'International Card'. I requested the international version - took a bit longer to come through but no extra charge. Now the point is that I can use this card anywhere to access funds in my TMB account so, in theory, this is another way of getting money out of the Country. Having said that, I haven't actually tried to use it in this way.

The advice given by other posters about keeping the minimum in Thailand is very sound. My visa requires 800,000 Baht when I extend it but I only transfer that from UK just before I need it. I then live off it, as Immigration expect you to do, and no other transfers are made. If I get strapped for cash I can always use my off-shore ATM card to get extra.

[jackr]

Must be said, you'd need a current account with the Halifax or another UK bank to be able to access it from here via ATM, and then transfer online when funds run low in the current account from the web saver.

[spacebass]

I intend to make the permanent move to Thailand in a couple of months.  I will be cashing my chips in at home and taking the lot with me(ELECTRONIC TRANSFER).  I have a couple of bank accounts already set up.  My question is if it all goes tits up can I take this money back out of Thailand.

Cheers

<{POST_SNAPBACK}>

Nationwide Flex Account has everything you need.

1) Definitely free ATM withdrawals abroad and from Nationwide ATMs in UK.

2) Good rate of exchange on withdrawals, unlike most other High Street Banks

3) E savings account that runs in parallel to the Flex Account and pays interest guaranteed for some period to be above UK base rates currently 5% gross (virtually 0% in LOS) . Just go into internet shop and manage your money between E savings and Flexaccount as required. No restriction on swopping money about.

4)Lowest UK overdraught rate (make sure you have an agreement).

So cash in your chips stash it in a Nationwide E Savings account, put GBP1000 in Flexaccount and arrive in LOS with your ATM card, sorted and making reasonable totally secure money.

Remember only invest in Thailand what you are prepared to lose!

Edited April 26, 2005 by spacebass

[Neeranam]

Shouldn't this be in the "bread head" section?

Don't see the problem myself.

Keep your bank in your home, and take out 200,000 a day if you need.

You can take out large amounts of cash from Thailand too, quite easily, although the authorities don't allow it

Travellers cheques are a good way to take out a few thousand pounds, or more.

[RDN]

It can get quite expensive using the atm machine on foreign accounts.  I was quite shocked at the fees on my banking statement for just a few withdrawls.

<{POST_SNAPBACK}>

If you bank with Nationwide in the UK withdrawals from ATM's overseas are FREE

totster

<{POST_SNAPBACK}>

I've heard others say Nationwide is free but their web site says

( cash withdrawal fee of just 1.50% (minimum £1.50))

Also, beware of poor exchange rates when using cards.

<{POST_SNAPBACK}>

I have used Nationwide in the past, in Bangkok - no fee, same exchange rate as XE.com states.

[aletta]

Not sure i know of anybody that has sold up and brought every penny here.

Don't think i could sleep at night with all my dosh in a Thai bank account.

[Totster]

I've heard others say Nationwide is free but their web site says

    ( cash withdrawal fee of just 1.50% (minimum £1.50))

      Also, beware of poor exchange rates when using cards.   

<{POST_SNAPBACK}>

How strange... I have been using my Nationwide card for 6 months in Thailand and they have never charged me... must have forgotton.

But oh... what's this, it says on the website it's free, you can look here Nationwide

I have been getting approx 72-73 baht for my Pound using Nationwide, wouldn't say that is a poor exchange rate....

totster

[astral]

You can sell everything in and take your country's currency IN CASH

<{POST_SNAPBACK}>

There is limit to the amount of cash you can take out, 50,000 baht.

You can buy US$ travellers cheques at the bank and take those out.

However why bring all the money in?

Keep it offshore, with better interest rates and better security.

If things really go belly up, the baht might drop like a stone!

PS Nationwide accounts are only available to UK resdents!!

[allexx]

If you transfer lets say 500k Baht into a Thai bank and later want to send it back,you can, but you need a T T 3 [Tor Tor Sam]document,you get it from the bank.

[naka]

Totster.

You are correct.

I was quoting the website info for a 'cash advance' using a credit card from overseas. Whereas you were talking about a debit transaction from a current account.

Mea Culpa.

[Totster]

Totster.

You are correct.

I was quoting the website info for a 'cash advance' using a credit card from overseas. Whereas you were talking about a debit transaction from a current account.

Mea Culpa. 

<{POST_SNAPBACK}>

Mai Bpen Rai...

That's what forums are all about...

totster