everythingIssan Posted May 11, 2012 Share Posted May 11, 2012 Hi. Does anyone knows how much is the highest limit for bank account in Thailand? For example if I bring 10.000.000 Baht or over, do I need to prove how I brought these money? Link to comment Share on other sites More sharing options...
MJCM Posted May 11, 2012 Share Posted May 11, 2012 (edited) If you wanna buy a condo for example you have to prove that the money came from abroad, but if you want to spend it on Booze and Women then No you don't need to prove anything. Edited May 11, 2012 by MJCM Link to comment Share on other sites More sharing options...
everythingIssan Posted May 11, 2012 Author Share Posted May 11, 2012 Yes the money comes from abroad. Is there any limit for money comes from abroad? Link to comment Share on other sites More sharing options...
TommoPhysicist Posted May 11, 2012 Share Posted May 11, 2012 No, but they might ask you to fill in a form before crediting your account, so tell your bank the money is coming in advance. 1 Link to comment Share on other sites More sharing options...
everythingIssan Posted May 11, 2012 Author Share Posted May 11, 2012 The money coming in cash! A friend will bring me the money in cash (USD). Do I need to do anything before? The money is a present for me, I can not prove how I made them. Link to comment Share on other sites More sharing options...
givenall Posted May 11, 2012 Share Posted May 11, 2012 There is a limit of cash to bring or take from almost any country, and also it is hard to prove it came aboard if you have no evidence unless if you declare it. The best is to have the money wire and then get a certificate from the bank that the money came from abroad and there are no limit to wire money to Thailand Link to comment Share on other sites More sharing options...
Quickmill Posted May 11, 2012 Share Posted May 11, 2012 maybe ( it's only my own think) if you put 1000000 baht in your bank account could some operator questioning you if you did not run any business related with bank account and even if money come by cash should be declared to the customs I don't know the international agreement between Thailand and other countries but on my arrival card it's mentioned a limit for cash currency, which over the limit should to be declared Link to comment Share on other sites More sharing options...
12DrinkMore Posted May 11, 2012 Share Posted May 11, 2012 I imagine that Uncle Sam would be very interested to know where the USD 330,000 in cash came from. That is an exceptionally large number of bills to be carrying, and must have raised a good few eyebrows when the cashier was asked to hand it over. 3,300 Benjamins in one pile? I would guess that the OP is either a troll or trying to do something illegal. Link to comment Share on other sites More sharing options...
chiang mai Posted May 11, 2012 Share Posted May 11, 2012 There is no limit to the amount of funds you can bring into Thailand, regardless of how it's brought in although, if the purpose of the funds is to buy property, this needs to be declared to the bank (or Customs if cash) beforehand. THB 50k is the maximum amount of currency you can take out, without BOT approval. USD20k is the maximum you can wire transfer out, without BOT approval (NB: the banks act as the BOT agent in this respect). Link to comment Share on other sites More sharing options...
Tafia Posted May 11, 2012 Share Posted May 11, 2012 (edited) There are no limits to the amount you can bring in, however there are limits on the amount you can take out of any country in cash. I would think that depositing that amount in cash (providing you can get it through) with no business interests would also raise some serious questions. Money laundering is taken very serious throughout the world these days and one may need some answers when dealing with that amount of cash. There is also the question of safety...wire transfer covers all the queries and is by far safer. Edited May 11, 2012 by Tafia Link to comment Share on other sites More sharing options...
elliss Posted May 11, 2012 Share Posted May 11, 2012 The money coming in cash! A friend will bring me the money in cash (USD). Do I need to do anything before? The money is a present for me, I can not prove how I made them. you are trusting a friend to bring that amount of money over for you ? Link to comment Share on other sites More sharing options...
IMA_FARANG Posted May 11, 2012 Share Posted May 11, 2012 Bringing that sum of mpney at one time to Thailand will generate intense interest from the money laundering people in the U.S. if that is where it is coming from. So you better have hard and fast legal source references for where the source of money came from in that case above/ If it is coming from the U/S.; then 'Thailand won't be your worry, the U.S. government will. Link to comment Share on other sites More sharing options...
Maestro Posted May 11, 2012 Share Posted May 11, 2012 everythingIssan, you are asking about the limit of a cash deposit into a bank account in Thailand without being able to explain the origin of the money. One of the [Anti-Money Laundering] Act's key provisions requires banks and other financial institutions to report all cash transactions exceeding 2 million baht. This also includes property transactions, which must be reported if in excess of 5 million baht. In the case of such transactions, the financial institutions must require their customers to provide a detailed record. This requirement is generally left to the practical discretion of the financial institution which must balance customer confidentiality concerns and compliance with the Act. Source:http://www.siam-lega...in-thailand.php Therefore, the answer to your question is that the limit is 2 million Baht. Link to comment Share on other sites More sharing options...
gk10002000 Posted May 11, 2012 Share Posted May 11, 2012 Two things about this and US laws. 1: Any cash gift over $12,000 in one year must be reported to the Internal Revenue Service (IRS.). The "tax man" for you non Americans. 2: Any amounts of $10,000 or more in total aggregate deposits in any foreign bank must be reported. Having $9,999 in 10 banks won't get you around this requirement. Link to comment Share on other sites More sharing options...
chiang mai Posted May 11, 2012 Share Posted May 11, 2012 everythingIssan, you are asking about the limit of a cash deposit into a bank account in Thailand without being able to explain the origin of the money. One of the [Anti-Money Laundering] Act's key provisions requires banks and other financial institutions to report all cash transactions exceeding 2 million baht. This also includes property transactions, which must be reported if in excess of 5 million baht. In the case of such transactions, the financial institutions must require their customers to provide a detailed record. This requirement is generally left to the practical discretion of the financial institution which must balance customer confidentiality concerns and compliance with the Act. Source:http://www.siam-lega...in-thailand.php Therefore, the answer to your question is that the limit is 2 million Baht. everythingIssan, you are asking about the limit of a cash deposit into a bank account in Thailand without being able to explain the origin of the money. One of the [Anti-Money Laundering] Act's key provisions requires banks and other financial institutions to report all cash transactions exceeding 2 million baht. This also includes property transactions, which must be reported if in excess of 5 million baht. In the case of such transactions, the financial institutions must require their customers to provide a detailed record. This requirement is generally left to the practical discretion of the financial institution which must balance customer confidentiality concerns and compliance with the Act. Source:http://www.siam-lega...in-thailand.php Therefore, the answer to your question is that the limit is 2 million Baht. 2 mill. is a reporting requirement (not a limit) that is discretionary upon banks and from experience is not enforced upon foriegners. Link to comment Share on other sites More sharing options...
John 1 Posted May 12, 2012 Share Posted May 12, 2012 The money coming in cash! A friend will bring me the money in cash (USD). Do I need to do anything before? The money is a present for me, I can not prove how I made them. I would say you are a load of B/S Link to comment Share on other sites More sharing options...
LeftCoaster Posted May 13, 2012 Share Posted May 13, 2012 (edited) The money coming in cash! A friend will bring me the money in cash (USD). Do I need to do anything before? The money is a present for me, I can not prove how I made them. I would say you are a load of B/S In the sense that it is a gift perhaps but otherwise <deleted> right do you have or evidence for thatmatter to make such a stupid comment? Edited May 13, 2012 by LeftCoaster Link to comment Share on other sites More sharing options...
DGS1244 Posted May 13, 2012 Share Posted May 13, 2012 All Thai Banks have to report any inward deposit or outward transaction of 20K USD or more to the BOT, although normally not a problem. Not being an American not sure how their Banks behave. I know if you bring maoney into Thailand from Pakistan the bank there slaps a 15% retention, that could be painfull. Link to comment Share on other sites More sharing options...
spidermike007 Posted May 13, 2012 Share Posted May 13, 2012 Just keep in mind, that if you are from the US, the Obama administration has forced all countries who benefit from any sort of US aid, to report all deposits, and interest earning income to the IRS. It is a fascist policy, designed to control all Americans. So, consider this when it comes to banking here. Lately, some major banks have declared wealthy Americans to be radioactive, when it comes to banking, and the obligations imposed by the fascist Obama regime. Link to comment Share on other sites More sharing options...
Naam Posted May 13, 2012 Share Posted May 13, 2012 All Thai Banks have to report any inward deposit or outward transaction of 20K USD or more to the BOT, although normally not a problem. Not being an American not sure how their Banks behave. I know if you bring maoney into Thailand from Pakistan the bank there slaps a 15% retention, that could be painfull. please no fairy tales such as rentention on money transfers denominated in a freely convertible currency from anywhere! the Pakistani Rupee is not freely convertible, therefore can't be transferred to any other country and that's the reason why no bank can "slap". Link to comment Share on other sites More sharing options...
HerbalEd Posted May 13, 2012 Share Posted May 13, 2012 The money coming in cash! A friend will bring me the money in cash (USD). Do I need to do anything before? The money is a present for me, I can not prove how I made them. Taking more than $10K US out of the USA (to any country) legally requires the bearer to inform US Customs .... which you can do at the airport. Link to comment Share on other sites More sharing options...
HerbalEd Posted May 13, 2012 Share Posted May 13, 2012 (edited) Just keep in mind, that if you are from the US, the Obama administration has forced all countries who benefit from any sort of US aid, to report all deposits, and interest earning income to the IRS. It is a fascist policy, designed to control all Americans. So, consider this when it comes to banking here. Lately, some major banks have declared wealthy Americans to be radioactive, when it comes to banking, and the obligations imposed by the fascist Obama regime. The part about Obama is not true. Hate him if you must, but at least hate him based upon fact and not conspiracy "theories." However, American citizens are required to inform IRS of any foreign bank accounts .... but this has been in effect for many years before Obama took office. Edited May 13, 2012 by HerbalEd Link to comment Share on other sites More sharing options...
chiang mai Posted May 13, 2012 Share Posted May 13, 2012 Just keep in mind, that if you are from the US, the Obama administration has forced all countries who benefit from any sort of US aid, to report all deposits, and interest earning income to the IRS. It is a fascist policy, designed to control all Americans. So, consider this when it comes to banking here. Lately, some major banks have declared wealthy Americans to be radioactive, when it comes to banking, and the obligations imposed by the fascist Obama regime. You can thank GWB for that, not Obama. Link to comment Share on other sites More sharing options...
simple1 Posted May 13, 2012 Share Posted May 13, 2012 Just keep in mind, that if you are from the US, the Obama administration has forced all countries who benefit from any sort of US aid, to report all deposits, and interest earning income to the IRS. It is a fascist policy, designed to control all Americans. So, consider this when it comes to banking here. Lately, some major banks have declared wealthy Americans to be radioactive, when it comes to banking, and the obligations imposed by the fascist Obama regime. Do your research. The Patriot Act is what you're referring to for overseas banks with offices in USA or business relationship with American banks reporting requirements. This law was not put inplace under the Obama administration. Link to comment Share on other sites More sharing options...
DGS1244 Posted May 13, 2012 Share Posted May 13, 2012 All Thai Banks have to report any inward deposit or outward transaction of 20K USD or more to the BOT, although normally not a problem. Not being an American not sure how their Banks behave. I know if you bring maoney into Thailand from Pakistan the bank there slaps a 15% retention, that could be painfull. please no fairy tales such as rentention on money transfers denominated in a freely convertible currency from anywhere! the Pakistani Rupee is not freely convertible, therefore can't be transferred to any other country and that's the reason why no bank can "slap". BS No fairy tales, there are a few countries, some quite close to home and with fully convertable curencies, who have the same regulations but fortunately do not bother to enforce. Link to comment Share on other sites More sharing options...
how241 Posted May 13, 2012 Share Posted May 13, 2012 I imagine that Uncle Sam would be very interested to know where the USD 330,000 in cash came from. That is an exceptionally large number of bills to be carrying, and must have raised a good few eyebrows when the cashier was asked to hand it over. 3,300 Benjamins in one pile? I would guess that the OP is either a troll or trying to do something illegal. +1.. Too much cash to carry around. Link to comment Share on other sites More sharing options...
lifeisthefun Posted May 13, 2012 Share Posted May 13, 2012 Is the money from a Nigerian widow? Link to comment Share on other sites More sharing options...
witje78 Posted May 13, 2012 Share Posted May 13, 2012 (edited) dam_n, I have the wrong friends; they do visit me over here but never bring me gifts of several hundereds-of-thousands dollars/euro's! Edited May 13, 2012 by witje78 Link to comment Share on other sites More sharing options...
spidermike007 Posted May 14, 2012 Share Posted May 14, 2012 Just keep in mind, that if you are from the US, the Obama administration has forced all countries who benefit from any sort of US aid, to report all deposits, and interest earning income to the IRS. It is a fascist policy, designed to control all Americans. So, consider this when it comes to banking here. Lately, some major banks have declared wealthy Americans to be radioactive, when it comes to banking, and the obligations imposed by the fascist Obama regime. The part about Obama is not true. Hate him if you must, but at least hate him based upon fact and not conspiracy "theories." However, American citizens are required to inform IRS of any foreign bank accounts .... but this has been in effect for many years before Obama took office. You are simply wrong. You give the man too much credit. I am a lifelong democrat, and I can call a fascist a fascist when I see one. So many of his policies are to the right of Bush. In retrospect Bush looks moderate in comparison to this goombah. Link to comment Share on other sites More sharing options...
simple1 Posted May 14, 2012 Share Posted May 14, 2012 You are unbelievable - I suggest you have no idea of what the definition is for a facist - educate youselves go to: http://en.wikipedia.org/wiki/Fascism Link to comment Share on other sites More sharing options...
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