proof of residence for British passport renewal

[dracmeo]

I heard that some people give money to expats and tourists here in exchange for electronic deposits into their US bank accounts made via internet banking.

The receiver saves money because he gets cash in a foreign country without the fees of getting his US bank to transfer money, and the giver can transfer his money held abroad into his US bank account easily, without government restrictions and at no cost.

I'd like to do this but don't know how I can do it in a secure way. If I am giving cash to a stranger, we both would have to trust each other, unless there was a way that he could do an electronic deposit into my US bank account that takes place in realtime or at least quickly, so that I would see the deposit in my account when I login.

Only then could I give him the money and be sure that he's not trying to scam me. I can't give him money today if the deposit into my account won't happen until tomorrow. And he can't make a deposit into my account unless I have the cash there in hand and will give it to him when he makes the deposit. Because we are strangers and don't trust each other.

So how can the stranger and I both confirm that the transaction has taken place when we are in the room together doing the deal? To do that, i have to see the deposit into my account happen, while we are both there in the room logged into our accounts. I think that electronic payments are usually called Bill Pay in the US, and I don't think these payments are sent immediately. I think it takes a day or more before the payment is processed and sent. Is this correct?

So what would I do? Give him the cash now or the next day, after his deposit posts to my account? And if I'm not going to give it to him until the next day, how can he confidently click his mouse to make the deposit into my account without fearing that I will disappear and never give him the money?

Is there a way to do this, where we are in the room together connected to our laptops, logged into our accounts, and he can transfer money so that I see it credited to my account immediately or at least quickly? Then I could give him the money with no worries.

If banks can't do this, can PayPal or similar service do it? Thanks for your feedback.

Dracmeo

[dracmeo]

Sorry, I meant "US" bank account. I tried to edit the mistake but apparently you can't edit the headline.

[Dancealot]

In short: money laundring, you've got nerve.

[FritsSikkink]

This is illegal:

EXCHANGE CONTROL REGULATIONS IN THAILAND

A Guide for the General Public

I. EXCHANGE CONTROL REGULATIONS

a. Rules and Regulations

The legal basis for exchange control in Thailand is derived from the Exchange Control Act (B.E. 2485) and Ministerial Regulation No. 13 (B.E. 2497) issued under the Exchange Control Act. These laws set out the principles of controls under which Notifications of the Ministry of Finance and Notices of the Competent Officer are issued.

b. Administration

The Bank of Thailand has been entrusted by the Ministry of Finance with the responsibility of administering foreign exchange. The governor of the Bank of Thailand shall appoint the officials of the Bank of Thailand as the Competent Officers under the Exchange Control Act (B.E. 2485).

All foreign exchange transactions are to be conducted through commercial banks and through authorized non-banks, namely authorized money changers, authorized money transfer agents, and authorized companies, that are granted foreign exchange licenses by the Minister of Finance. Any transactions not conducted through the above-mentioned licensees require approval from the Competent Officer on a case by case basis.

[zabaleta]

be very careful....it's very difficult to find someone with links to pattaya who is completely trustworty!

however,make any decision yourself,so if you mess up it's your own fault.

[ericthai]

be very careful....it's very difficult to find someone with links to pattaya who is completely trustworty!

however,make any decision yourself,so if you mess up it's your own fault.

It'd your best bet to just transfer using the bank. the fee is not that much last time I paid it was 500B but this was 6-7 years ago. There is no limit on how much you can transfer it's just the receiving bank will send a notification to the IRS if the amount is over $10K or if you have multiple transfers. This would be your safest way. Trusting someone in Thailand is risky allot of shady charters here in Thailand.

[Ijustwannateach]

I *might* help out a friend or someone I knew very well this way with relatively small sums, like an amount needed for a hotel stay for a few days.

Helping a stranger this way with anything approaching a large amount of money? Hah, very hah. But if you are interested there are a bunch of Nigerians that I think would be very interested in bank transfers with you...

[smiling mantis]

What could possibly go wrong?

[mccw]

Don't get scammed! The transfer fee is a minor. Just do a chunk in one go to your Thai bank rather than many small payments.

If u really had to do small say 500£ payments ; for example if u were on pension then it could make sense for u - if u really could determine that u weren't gunna get screwed. In uk if u transfer before 3pm it money goes through the same day , normally with in 2 hours. So u could sit and have a few drinks with a man ,c money in the account before going to ATM and giving the guy his money.don't know about USA though. But whats in it for the other guy?

[gk10002000]

If you two are in the same room and he transfers money electronically, then there would be fees for him. If you meant somebody that was heading back to the USA and then he would deposit money in your US account there, then obviously you two would not be in the same.

I have given money to some people in Thailand on behalf of a friend in the States (a few times gave some USD to his girlfriend while he was in the States but I was in the LOS). I have never taken Thai Baht and then later made a deposit in a US bank.

[mccw]

In uk one can transfer small amounts (under 10,000£ ) between banks ellectronicaly for free. Is this possible in USA? Or any other countries? I know Thailand transfer rates are crazy

[gk10002000]

In uk one can transfer small amounts (under 10,000£ ) between banks ellectronicaly for free. Is this possible in USA? Or any other countries? I know Thailand transfer rates are crazy

This is easily done in the USA but it is not free. Typically $15 or $20 USD for a transfer request. If you go outside of your account, you get charged. And some banks still make you fax in a signed transfer request form, it is not always a "pure" online paperless process. I know, sounds like the dark ages, but Etrade is like that. One can Bill Pay for free, but transferring money to other accounts is not free.

[Naam]

In uk one can transfer small amounts (under 10,000£ ) between banks ellectronicaly for free. Is this possible in USA? Or any other countries? I know Thailand transfer rates are crazy

your claim proves that you don't know much :jap:

[dracmeo]

First of all, I'm not money laundering. Secondly, I'm not in Thailand, though I used to live there and might soon live there again. I posted to this forum because I know there are lots of knowledgeable US expats on this forum and the question I posted is not specific to Thailand.

I simply am asking about the technical aspects of such a transfer. Is it doable or not?

I think Bill Pay is often free or has a small monthly charge for the service, not for every transaction. But the whole question that I seek the answer to is, can a Bill Pay payment post to the payee's account really fast, like within an hour, or is it not going to happen until one or more days later? That is the key to the question of whether I can do this or not.

Thanks.

[mccw]

In uk one can transfer small amounts (under 10,000£ ) between banks ellectronicaly for free. Is this possible in USA? Or any other countries? I know Thailand transfer rates are crazy

your claim proves that you don't know much :jap:

When I was looking to move money from chiang mai to samui, because it was a different province to my account holding location, they want 20bht per every 10,000bht transferred. Now maybe your definition of crazy is different from mine but I'd call it that for sure. So on about 3 mill bht that's best part of £150! Why on earth would it being a different province incur a higher charge than same province? Crazy. Same bank aswell; not one to another; just a different name on account.

Some ATM in tourist places charge up to 150bht for a withdrall; that's prity crazy, And having to pay 400bht for a new ATM card.

20bht to transfer 500bht or how ever small is a ludacris %

Think about people earning 5-8k pm sending small amounts often to help out family members in other provinces. Crazy. If one bank did this service for free it would grab huge Market share if the others stuck with the old rip off ways.

[mccw]

^ I guess if you used to paying 10 dollars per transfer of any small money's you must think 20bht a bargain ; but to me, used to free, it seems mad.

Bank holding your cash making billions of it all leveraged up playing the stock Market and giving u back practically nothing % and they still want to bump u for 10bucks <deleted>

[septeen]

No sense in being ' penny-wise and pound foolish! " Checks and balances on personal decisions:- If there is even a 1% chance of getting scammed, then pay the extra charges and do it properly through the bank.

In other words, if you want something done right, do not trust any third party; do it yourself! Goodluck