Selling My Car - How To Take The Cash Out Of The Country?

[NamKangMan]

If you are selling the car to a farang - you could get them to do the exchange as part of the deal.

I have also heard of cases where the farang will deposit the money, most likely via the internet, into your home country bank account, and the deal is done.

Not a great idea to have around $3500US on your person, or in your room.

>>

Thanks, Rickster. No limit? I might wait to sell the car then.

Whereabouts is Tilok-u-Thit 2 ? Sorry - I don't get to Phuket Town much.

The legal limit without having report your cash to Customs is $10,000 USD or equivalent.

$20,000

Sent from my iPad using ThaiVisa app

Actually legal limit for carrying with on a flight is up to 10,000 USD...that INCLUDES any loose change in your pockets....HOWEVER, with TSA the way they are and very sticky fingers....don't think it's a good idea...either wire transfer or international bank draft.

Yes, you can carry $10,000US. What I meant was it's not a good idea to have $3500US in your pocket, or in your room, in Thailand, from a robbery/mugging/pick-pocket/motorbike accident etc etc point of view. Not from a customs declaration point of view.

Edited April 3, 2013 by NamKangMan

[lookingeast]

Apology in advance if this is a dumb question to others, but as i was stopped not long ago at one of those airport walk-through X-ray machines because i had a foil strip of Paracetamol in my trouser-pocket (!)...do those machines pick up the metal strips that are inside banknotes ?

[LivinginKata]

Apology in advance if this is a dumb question to others, but as i was stopped not long ago at one of those airport walk-through X-ray machines because i had a foil strip of Paracetamol in my trouser-pocket (!)...do those machines pick up the metal strips that are inside banknotes ?

Doubt it, never had the walk though machine trigger with bank notes in my pocket.

[yourauntbob]

I wired a few hundred thousand from my Thai bank account to my American bank account the other day, about $30 in fees and no hassle. Much safer than carrying it on the plane, IMHO worth every penny of the $30 charge.

[thaibreaker]

There is an easier way....

The legal limit for a money transfer into your account is under 800k baht.

Go to bangkok bank and transfer the 300.... No probs.. Takes 3-5 days.

In my experience even faster. I wire money from my account at Bangkok Bank to accounts in Europe a lot, it is done in 1 day every time. Amazing.

From my bank in my home country on the other hand, 2-4 days..

The time difference has something to say, but one day is really quick any way.

[fxe1200]

Member above wrote: The legal limit for a money transfer into your account is under 800k baht.

Thanks. That is what I need to know. I am only talking about B300k by the time all is done.

My bank is SCB - seems they should be able to handle that, no?

I had more than that transferred in at one time.

6 months later I transferred same amount in 2 transactions a week apart. no reason to do it in 2 transactions... it was easier for me.

Nobody asked any questions. And I am not declaring it on my income tax filing in Thailand. I dont see how it would come up.

Re: the OP .....

Doing a bank transfer is easy (assuming you have accounts here and there). For foreign banks you need name, account, and SWIFT code. Send away.

Please consider, that there are three ways to transfer money abroad by SWIFT:

1. The OUR transfer (meaning, that you transfer any amount in THB, have the THB converted into the currency of your home country, and pay all fees involved to the bank transferring. The amount must be credited in your home account with NO deductions. This gives you the chance to overlook all charges in the first place)

2. The SHARED transfer (meaning: costs are shared, some of them you have to pay to the bank in Thailand, foreign cost will be charged by the receiving bank. This is a not so good solution, as you do not know, with what kind of transferring cost you will end up with.)

3. The BENEFICIARY transfer (In this case all costs will be deducted by your home bank. As I know the outrageous charges of American banks, I would not opt for this solution)

To transfer from Thailand, the best solution is the OUR transfer. To avoid any discussions about fees to be paid to the receiving bank, I always write in the reference line: OUR- Transfer, all fees paid.

I did several OUR transfers from Germany to Thailand (online), which cost 11.50 Euro total per transfer. Thai banks used to take 300 THB or 120THB in fees, which I had to claim back, and which is a pain in the butt. Since I have that sentence " OUR- Transfer, all fees paid" on my transfer, no additional charges were taken.

BTW, it is hard to find bank clerks in TH, who know these different procedures. The OUR transfer also is the standard procedure within the export/import business, as you can guarantee, that the seller receives exactly the amount of his invoice. In this case, the amount will be converted to the currency of the seller in your home country already. In all cases the exchange rate [in non-cash currency exchanges] will apply.

Edited April 3, 2013 by fxe1200

[thaibreaker]

Member above wrote: The legal limit for a money transfer into your account is under 800k baht.

Thanks. That is what I need to know. I am only talking about B300k by the time all is done.

My bank is SCB - seems they should be able to handle that, no?

I had more than that transferred in at one time.

6 months later I transferred same amount in 2 transactions a week apart. no reason to do it in 2 transactions... it was easier for me.

Nobody asked any questions. And I am not declaring it on my income tax filing in Thailand. I dont see how it would come up.

Re: the OP .....

Doing a bank transfer is easy (assuming you have accounts here and there). For foreign banks you need name, account, and SWIFT code. Send away.

Please consider, that there are three ways to transfer money abroad by SWIFT:

1. The OUR transfer (meaning, that you transfer any amount in THB, have the THB converted into the currency of your home country, and pay all fees involved to the bank transferring. The amount must be credited in your home account with NO deductions. This gives you the chance to overlook all charges in the first place)

2. The SHARED transfer (meaning: costs are shared, some of them you have to pay to the bank in Thailand, foreign cost will be charged by the receiving bank. This is a not so good solution, as you do not know, with what kind of transferring cost you will end up with.)

3. The BENEFICIARY transfer (In this case all costs will be deducted by your home bank. As I know the outrageous charges of American banks, I would not opt for this solution)

To transfer from Thailand, the best solution is the OUR transfer. To avoid any discussions about fees to be paid to the receiving bank, I always write in the reference line: OUR- Transfer, all fees paid.

I did several OUR transfers from Germany to Thailand (online), which cost 11.50 Euro total per transfer. Thai banks used to take 300 THB or 120THB in fees, which I had to claim back, and which is a pain in the butt. Since I have that sentence " OUR- Transfer, all fees paid" on my transfer, no additional charges were taken.

BTW, it is hard to find bank clerks in TH, who know these different procedures. The OUR transfer also is the standard procedure within the export/import business, as you can guarantee, that the seller receives exactly the amount of his invoice. In this case, the amount will be converted to the currency of the seller in your home country already. In all cases the exchange rate [in non-cash currency exchanges] will apply.

I always use the OUR, but it is funny how some banks deduct a fee anyhow when it arrives to their country, regardless which one. Both in Thailand and in Europe.

Usually no fees are taken, but from time to time they do it. In case, just let the bank know, and they will credit you for the mistake.

[crazykopite]

when you sell your car do a bill of sale one for you and one for the buyer you can hold $ accounts here in Thailand it will cost 500 baht to set it up I also believe that you are allowed to transfer 300,000 Thai baht overseas from your thai bank account at any one time better than carrying around all those $ bills I bet you could even get a bankers draft in $US from your thai bank

[fxe1200]

Member above wrote: The legal limit for a money transfer into your account is under 800k baht.

Thanks. That is what I need to know. I am only talking about B300k by the time all is done.

My bank is SCB - seems they should be able to handle that, no?

I had more than that transferred in at one time.

6 months later I transferred same amount in 2 transactions a week apart. no reason to do it in 2 transactions... it was easier for me.

Nobody asked any questions. And I am not declaring it on my income tax filing in Thailand. I dont see how it would come up.

Re: the OP .....

Doing a bank transfer is easy (assuming you have accounts here and there). For foreign banks you need name, account, and SWIFT code. Send away.

Please consider, that there are three ways to transfer money abroad by SWIFT:

1. The OUR transfer (meaning, that you transfer any amount in THB, have the THB converted into the currency of your home country, and pay all fees involved to the bank transferring. The amount must be credited in your home account with NO deductions. This gives you the chance to overlook all charges in the first place)

2. The SHARED transfer (meaning: costs are shared, some of them you have to pay to the bank in Thailand, foreign cost will be charged by the receiving bank. This is a not so good solution, as you do not know, with what kind of transferring cost you will end up with.)

3. The BENEFICIARY transfer (In this case all costs will be deducted by your home bank. As I know the outrageous charges of American banks, I would not opt for this solution)

To transfer from Thailand, the best solution is the OUR transfer. To avoid any discussions about fees to be paid to the receiving bank, I always write in the reference line: OUR- Transfer, all fees paid.

I did several OUR transfers from Germany to Thailand (online), which cost 11.50 Euro total per transfer. Thai banks used to take 300 THB or 120THB in fees, which I had to claim back, and which is a pain in the butt. Since I have that sentence " OUR- Transfer, all fees paid" on my transfer, no additional charges were taken.

BTW, it is hard to find bank clerks in TH, who know these different procedures. The OUR transfer also is the standard procedure within the export/import business, as you can guarantee, that the seller receives exactly the amount of his invoice. In this case, the amount will be converted to the currency of the seller in your home country already. In all cases the exchange rate [in non-cash currency exchanges] will apply.

I always use the OUR, but it is funny how some banks deduct a fee anyhow when it arrives to their country, regardless which one. Both in Thailand and in Europe.

Usually no fees are taken, but from time to time they do it. In case, just let the bank know, and they will credit you for the mistake.

It took me more than two months to claim the excess fees taken by the Kasikornbank back. In Thailand with the Kasikornbank it is not just "tell them, and they we will credit you"!!! And this is not funny at all. The SCB could handle this matter within two days, but you have to appear in person, to make your claim.

The reason I am so particular about bank fees, is the fact, that these banks do not deliver a receipt for their takings. Then I will have a difference in my accounting, or I do pay the fees out of my own pocket.

[Minnehaha]

Please consider, that there are three ways to transfer money abroad by SWIFT:

1. The OUR transfer (meaning, that you transfer any amount in THB, have the THB converted into the currency of your home country, and pay all fees involved to the bank transferring. The amount must be credited in your home account with NO deductions. This gives you the chance to overlook all charges in the first place)

2. The SHARED transfer (meaning: costs are shared, some of them you have to pay to the bank in Thailand, foreign cost will be charged by the receiving bank. This is a not so good solution, as you do not know, with what kind of transferring cost you will end up with.)

3. The BENEFICIARY transfer (In this case all costs will be deducted by your home bank. As I know the outrageous charges of American banks, I would not opt for this solution)

To transfer from Thailand, the best solution is the OUR transfer. To avoid any discussions about fees to be paid to the receiving bank, I always write in the reference line: OUR- Transfer, all fees paid.

I did several OUR transfers from Germany to Thailand (online), which cost 11.50 Euro total per transfer. Thai banks used to take 300 THB or 120THB in fees, which I had to claim back, and which is a pain in the butt. Since I have that sentence " OUR- Transfer, all fees paid" on my transfer, no additional charges were taken.

BTW, it is hard to find bank clerks in TH, who know these different procedures. The OUR transfer also is the standard procedure within the export/import business, as you can guarantee, that the seller receives exactly the amount of his invoice. In this case, the amount will be converted to the currency of the seller in your home country already. In all cases the exchange rate [in non-cash currency exchanges] will apply.

I always use the OUR, but it is funny how some banks deduct a fee anyhow when it arrives to their country, regardless which one. Both in Thailand and in Europe.

Usually no fees are taken, but from time to time they do it. In case, just let the bank know, and they will credit you for the mistake.

It took me more than two months to claim the excess fees taken by the Kasikornbank back. In Thailand with the Kasikornbank it is not just "tell them, and they we will credit you"!!! And this is not funny at all. The SCB could handle this matter within two days, but you have to appear in person, to make your claim.

The reason I am so particular about bank fees, is the fact, that these banks do not deliver a receipt for their takings. Then I will have a difference in my accounting, or I do pay the fees out of my own pocket.

Agreed!

1. my experience is that despite designating OUR on transfer, I encountered extra fees on outgoing funds. And I suspect on incoming funds (not sure cause it was someone else who sent the $).

2. Getting documentation on the freaking transfer has been difficult. Getting details of fees and their math has been a pain in the ass. Kasikorn Bank.

[thaibreaker]

"It took me more than two months to claim the excess fees taken by the Kasikornbank back. In Thailand with the Kasikornbank it is not just "tell them, and they we will credit you"!!! And this is not funny at all. The SCB could handle this matter within two days, but you have to appear in person, to make your claim.

The reason I am so particular about bank fees, is the fact, that these banks do not deliver a receipt for their takings. Then I will have a difference in my accounting, or I do pay the fees out of my own pocket."

Okey, I can`t speak for the thai banks, but my bank in Norway credited me for the mistake within two days. I just wrote them a mail.

I haven`t gone through the hazzle it is to reclaim the fees taken a couple of times at my thai bank, but 8 of 10 transfers have been done correctly at Bangkok Bank for me at least.

Edited April 3, 2013 by thaibreaker

[dorlemon]

Why you don't need € ? So we can exchange it and the rate for us both will be better as at the money changer ....

[fxe1200]

"It took me more than two months to claim the excess fees taken by the Kasikornbank back. In Thailand with the Kasikornbank it is not just "tell them, and they we will credit you"!!! And this is not funny at all. The SCB could handle this matter within two days, but you have to appear in person, to make your claim.

The reason I am so particular about bank fees, is the fact, that these banks do not deliver a receipt for their takings. Then I will have a difference in my accounting, or I do pay the fees out of my own pocket."

Okey, I can`t speak for the thai banks, but my bank in Norway credited me for the mistake within two days. I just wrote them a mail.

I haven`t gone through the hazzle it is to reclaim the fees taken a couple of times at my thai bank, but 8 of 10 transfers have been done correctly at Bangkok Bank for me at least.

Yes, we speak about Thai banks. Believe me, this bullshit will not happen in Deutschland either. The banks here are greedy and make it really difficult for you to get your money back. But you have to stick to it, even if it is only a small amount, like that120 THB at the Kasikorn. The manager started to move, after I kindly ask him, to write out a makeshift receipt for 10 cha jen for his stuff (12THB each), I would not care, but I need a piece of paper for the accounting, and I would not leave without.

My experiences with the Bangkok Bank though are positive throughout.

Edited April 3, 2013 by fxe1200

[rotary]

My concern is not about declaing it. No problem with that. My question is about getting it converted from baht to dollars while inside the country.

Try the money changers on Sukhumvit. Good rate but with that small amount no back room service as they give high exchangers.

[expat888]

How about putting it in your pocket.

[AlexDorneles]

I have money in the US that I want to bring to Thailand. If anyone here wants to do a private exchange I am up for it. Exchange rate will be the fair value, half way between the buy/sell rate. You give me your Thai Baht and I can wire transfer or send you the money via Paypal or any other way that is instantaneous. Anyone interested please send me a private message, I live in Bangkok.

[Evolare]

When you sell the car make a reciept and take a copy of your bluebook. Go to your bank with the money and your documents deposit into your account and transfer the money where ever you like if they need to know where the money comes from give them the documents and youre done...

I have done it and several of my frie ds have done it...only one out of six had to show any documents.

Its only 300k a friend of mine transferred 43M two weeks ago...guess what no problem.

[balo]

If you have a Thai bank account , just bring the ATM card with you to your country and cash out .

[sloopysman]

This was taken from the US gov't web site. Notice it says all persons traveling together. I found out the scary way they can tell if you are carrying large amounts of paper currency. They ran me and my wife through the ringer and we only had a little over $8k. I kept telling them I'd take it out and let them count it but for some reason they wouldn't let me show them but continued questioning. We nearly missed our flight but they finally gave up when we never showed fear of them.

How much currency / money / monetary instruments can I bring into the U.S.?

There is no limit on the amount of money that can be taken out of or brought into the United States. However, if a person or persons traveling together and filing a joint declaration (CBP Form 6059- have $10,000 or more in currency or negotiable monetary instruments, they must fill out a "Report of International Transportation of Currency and Monetary Instruments" FinCEN 105 (former CF 4790).

If assistance is required, a Customs and Border Protection (CBP) Officer can help with filling out the form.

Please be aware, if persons/family members traveling together have $10,000 or more, they cannot divide the currency between each other to avoid declaring the currency.

For example, if one person is carrying $5,000 and the other has $6,000, they have a total of $11, 000 in their possession and must report it on a FinCEN 105. If a person or family fails to declare their monetary instruments in amounts of over $10,000, their monetary instrument(s) may be subject to forfeiture and could result to civil and criminal penalties.

The FinCEN 105 can be obtained prior to traveling or when going through CBP.

Edited April 3, 2013 by sloopysman

[britpop]

when the OP originally brought the money into Thailand he must have got a bank receipt, used to be known as a tor tor sam, if it's the same rule as before, with this evidence of the original money coming into Thailand, the money can be taken out of Thailand tax free and any thing above it, ie as in profit, Taxed, other way is as in the good old days, bung the bank manager a friendly monitory gift and have your money at any amount transferred anywhere in the world

[phuketrichard]

all banks ( at least all i have been to in Patong) will change thai baht to $$ for as much as thye have

as to taking money to the states ur allowed $10,000 without a report BUT u can bring as much as u want but u need make a report so get a sales receipt when u sell

[paahlman]

Member above wrote: The legal limit for a money transfer into your account is under 800k baht.

Thanks. That is what I need to know. I am only talking about B300k by the time all is done.

My bank is SCB - seems they should be able to handle that, no?

You all do it too complicated... I never mentioned any limit into thailand... 90 million is no problem.. I am saying that Bangkok bank can transfer up to 800 000 out of the country. All other banks needs alot of papers to do that.. Not Bangkok bank.. Easy.