Bringing In Cash From Australia

[kiwijack]

hi.

Has anyone had experience in bringing in more than $AUD10,000 cash from Australia? In particular I am seeking information about the CBM-PC form that has to be filled in at Immigration for sums in excess of $AUD 10,000. Is it a simple enough procedure or are supporting documents required.

The money is legit so no issues there. Any information would be appreciated.The reason for the cash movement is an almost 2 baht /dollar difference exchange rate .. in this case, a 150,000 baht gain. Thanks for whatever you can tell me as the form or any real information is not available on line?

[aarn]

That difference - 2B per AUD$1 - sound like what the mendacious thieving aussie banks would strip you of, if you bought B in aussie-land.

I recently did an IMT from Commbank to KBank, and got 31.3B/$ when the median rate for the day (on thiavisacom) was 31.5.

I think that aussie $100 notes would get less than the IMT rate, but am always prepared to be castigated for obfuscation. AA

[aarn]

Err, OK some correction required.

Here are the Superrich rates today http://www.superrichthailand.com/editor/rate.html

Better than the median rate today http://baht.thaivisa.com/

So maybe (brrrrrrrrrr) you could get more favourable rate by ~0.4B/AUD$1 taking your aussie-lolly to Superrich.

I'll just step outside now with the cat-o-nine-tails for some timely self-flagellation. AA

[simple1]

No problem in declaring currency out of Australia. procedure for declaration at Thai Customs port of entry at

http://www.customs.go.th/wps/wcm/connect/custen/traders+and+business/prohibited+and+restricted+items/currency/currency

[Naam]

I am seeking information about the CBM-PC form that has to be filled in at Immigration for sums in excess of $AUD 10,000. Is it a simple enough procedure or are supporting documents required.

the procedure is very simple if your cash is less than AUD 19,000 because you don't fill anything. the threshold for reporting cash is USD 20,000

[Sophon]

I am seeking information about the CBM-PC form that has to be filled in at Immigration for sums in excess of $AUD 10,000. Is it a simple enough procedure or are supporting documents required.

the procedure is very simple if your cash is less than AUD 19,000 because you don't fill anything. the threshold for reporting cash is USD 20,000

But the OP is presumably talking about amounts in the region of AUD 75,000 (based on him mentioning a THB 150,000 gain on a perceived exchange rate difference of THB 2 per AUD).

In reality cash will only net more than a SWIFT transfer if he uses Super Rich and then only about THB 0.2 per AUD. So not counting transfer fees "only" a gain of about THB 15,000. If that is worth the risk of carrying that amount in cash is up to him to decide. It seems obvious that he is comparing with the rate if allowing the Australian bank to do the exchange, which nobody in their right mind would do.

Sophon

[TPI]

Why not transfer it directly into his Thai bank and get the TT rate? It's easy through Netbank!

[Naam]

But the OP is presumably talking about amounts in the region of AUD 75,000 (based on him mentioning a THB 150,000 gain on a perceived exchange rate difference of THB 2 per AUD).

In reality cash will only net more than a SWIFT transfer if he uses Super Rich and then only about THB 0.2 per AUD. So not counting transfer fees "only" a gain of about THB 15,000. If that is worth the risk of carrying that amount in cash is up to him to decide. It seems obvious that he is comparing with the rate if allowing the Australian bank to do the exchange, which nobody in their right mind would do.

Sophon

would anybody in his right mind carry that much cash to BKK, declare it, drive to Superrich to exchange it and then carry the bundles to a bank to deposit it?

[simple1]

I am seeking information about the CBM-PC form that has to be filled in at Immigration for sums in excess of $AUD 10,000. Is it a simple enough procedure or are supporting documents required.

the procedure is very simple if your cash is less than AUD 19,000 because you don't fill anything. the threshold for reporting cash is USD 20,000

But the OP is presumably talking about amounts in the region of AUD 75,000 (based on him mentioning a THB 150,000 gain on a perceived exchange rate difference of THB 2 per AUD).

In reality cash will only net more than a SWIFT transfer if he uses Super Rich and then only about THB 0.2 per AUD. So not counting transfer fees "only" a gain of about THB 15,000. If that is worth the risk of carrying that amount in cash is up to him to decide. It seems obvious that he is comparing with the rate if allowing the Australian bank to do the exchange, which nobody in their right mind would do.

Sophon

Some Australian banks will only transfer in Thai baht, so you lose a fair amount on the exchange rate. However as an example, Commonwealth Bank, as said above, will transfer from a branch office or a self serve swift transfer via Netbank (internet banking) in A$ to your Thai bank account.

[kiwijack]

Thanks for the info and observations.

The basis for the request was that the NAB , where the money is, was offering 29 something per dollar for TT whilst the Superrich rate was 31something.

However, I note the CBA rates/experience so will explore that option.Yes the sum was $80,000 plus

The amount BTW is $10,000 for reporting cash in Oz. As for carrying such sums in cash, no problems and nothing compared to what goes in and out of Superrich every minute.. beside Kasikorn is just across the road. Good return for minimal risk IMO.

But, thanks for all the comments, much appreciated.

[darhut]

Kiwijack as has been stated here transfer it in AUD and have the exchange done here in Thailand or send through someone like Ozforex, they have a very competitive rate and the more you send the better the rate. Over $10,000 fee of $15 but your first 2 transactions free.

Sent from my GT-I9100T using Thaivisa Connect App

[scotto]

Agree transfer in aus dollars to your thai account rate exchange here in thai is better

i certainly would not carry that much cash to risky imho but if you are comfortable

with it then fine up to you!

[maturebrit]

just a suggestion but why not hand carry in Traveller Cheques...the deposit in your Thai bank thus prob giving you a better rate ...

Sent from my GT-N7000 using Thaivisa Connect Thailand mobile app

[kiwijack]

Thanks again for the tips. and will run with the bank transfer in OZ dollars.

Seems my original rate from the bank was for conversion to Baht in OZ first .

The current high rate for OZ dollars is tempting the transfer, although the interest rates in OZ are 3 times Thai rates.......just worried that the rate may drop back into high 20's which would more than offset years of interest advantage .. It's a dilemma.

Thanks again. Question answered.Most appreciated.

[Naam]

just a suggestion but why not hand carry in Traveller Cheques... the deposit in your Thai bank thus prob giving you a better rate ...

no it will not.

[meatboy]

Thanks again for the tips. and will run with the bank transfer in OZ dollars.

Seems my original rate from the bank was for conversion to Baht in OZ first .

The current high rate for OZ dollars is tempting the transfer, although the interest rates in OZ are 3 times Thai rates.......just worried that the rate may drop back into high 20's which would more than offset years of interest advantage .. It's a dilemma.

Thanks again. Question answered.Most appreciated.

never think you will get the rate you want,just be prepared for what you are happy with anything over is a bonus,the rates change by the minute up or down if we all knew how they would go we would be super rich,so never over calcalate otherwise when things go belly up your in the pickle

[maturebrit]

just a suggestion but why not hand carry in Traveller Cheques... the deposit in your Thai bank thus prob giving you a better rate ...

no it will not.

oops I stand corrected...apologies

Sent from my GT-N7000 using Thaivisa Connect Thailand mobile app