declaring Euro 30K on arrival

[PaddyBKK]

If I am to hand carry Euro 30,000 cash on my person coming in to Thailand,.

Do i need a letter from the bank (in the country where it is withdrawn) & what should it asy for declaration purposes ?

What is the procedure to go through when declaring it @ the airport?

Will the airport immigration give me a letter that I can show to CM for my Visa applications ?

I can transfer the cash - I just get a much better exchange on the ground transfer in Bangkok.

regards

PaddyBKK

[ubonjoe]

I highly suggest you transfer you funds into the country if you plan to convert from a visa exempt or tourist visa entry to get a non immigrant visa to get your extension.

There was a recent report that immigration would not accept a currency exchange receipt as proof that funds came from abroad.

Edit: Here is procedure to declare the money. http://www.customs.go.th/wps/wcm/connect/custen/traders+and+business/prohibited+and+restricted+items/currency/currency

Edited November 6, 2013 by ubonjoe

[thaiexpat21]

I highly suggest you transfer you funds into the country if plan to convert from a visa exempt or tourist visa entry to get non immigrant visa to get your extension. There was a recent report that immigration would not accept a currency exchange receipt as proof that funds came from abroad.

TT rates are better than cash exchange.

EUR Euro Zone 41.59 cash 41.88250 TT.

Todays Bangkok Bank rates.

Edited November 6, 2013 by thaiexpat21

[Briggsy]

You are going to get lots of answers telling you not to do this. This is not what you asked. The above post is a good example. Clearly it is misleading as you would not change 30,000 Euro at the bank when you could do much better at a specialist money changer.

Good luck on TV, my friend.

[thaiexpat21]

You are going to get lots of answers telling you not to do this. This is not what you asked. The above post is a good example. Clearly it is misleading as you would not change 30,000 Euro at the bank when you could do much better at a specialist money changer.

Good luck on TV, my friend.

I am sure your great knowledge would be helpful to the OP but you do not tell him where this wonderful money changer is to be found .

Secondly the OP may find he has problems in proving where the money came from if he wishes to apply for an extension of stay.

The advice (with one exception) provided here is good and provided with the OP's best interests in mind.

Edit

spelling

Edited November 6, 2013 by thaiexpat21

[ThaidDown]

This also was not asked, but you may be stopped on exit from your home country. So you should have documentation showing where it was withdrawn from.

[ubonjoe]

You are going to get lots of answers telling you not to do this. This is not what you asked. The above post is a good example. Clearly it is misleading as you would not change 30,000 Euro at the bank when you could do much better at a specialist money changer.

 

Good luck on TV, my friend.

His post indicated that he was concerned about being able to prove funds came from abroad. So I gave him some advice and info.

I also posted a link for currency declaration procedure on entry.

What is the value of your post?

[stoffel45]

Last week in Germany, on a train bound for Switzerland, the German authorities arrested a German and took him into custody.

He was charged with carrying - wait for it - "a large amount of cash in the sum of 9,380 euros."

Following his arrest for this crime, the German police raided the apartment of his Father - and found a trove of art treasures stolen during his Father's time as an art expert for the Nazis.

The point to remember is that the crime was carrying cash.

Lastly, go to your Bank and ask them for a special rate for this amount of euros.

If you cannot do that then take the money as a documentary credit - a sight draft for example.

Much safer and a higher/better rate of exchange than cash.

[georgey]

I highly suggest you transfer you funds into the country if plan to convert from a visa exempt or tourist visa entry to get non immigrant visa to get your extension. There was a recent report that immigration would not accept a currency exchange receipt as proof that funds came from abroad.

TT rates are better than cash exchange.

EUR Euro Zone 41.59 cash 41.88250 TT.

Todays Bangkok Bank rates.

Vasu money changer (Suk 7/1 - 42.05).

Never change money at the banks, but if you have to, don't use BBL

[abrahamzvi]

Last week in Germany, on a train bound for Switzerland, the German authorities arrested a German and took him into custody.

He was charged with carrying - wait for it - "a large amount of cash in the sum of 9,380 euros."

Following his arrest for this crime, the German police raided the apartment of his Father - and found a trove of art treasures stolen during his Father's time as an art expert for the Nazis.

The point to remember is that the crime was carrying cash.

Lastly, go to your Bank and ask them for a special rate for this amount of euros.

If you cannot do that then take the money as a documentary credit - a sight draft for example.

Much safer and a higher/better rate of exchange than cash.

What you are saying is absolutely false and incorrect. To start with it is allowed under German Law to export as much money as one wishes. The customs may ask you to tell them why you are carrying that much cash (particularly if you are going to Switzerland or Luxemburg and this for obvious reasons), and if you are unable to explain where the money comes from and why you are taking it out, the custom authorities are allowed to investigate.

In this particular case, in October last year (2012) the person concerned was investigated for carrying with him a vast amount of money (some EURO 800K), which he could not explain where he got it from (it was later established that the money came from a sale of a painting for EURO 850K). In the course of the investigations the custom authorities obtained from the courts a search warrant for the persons flat (not his father's - he had been dead for a long time) and discovered more than thousand paintings of famous painters with a value of about a Billion Euro (EURO 1,000 Million), such paintings having been declared as lost or destroyed during WWII. This is now a news item worldwide.

I am not suggesting to the OP to bring cash in, this could lead to complications if it is a sizable amount. However, I think when reporting, people should stick to facts and not to incorrect stories!

[bimmerbob]

Carrying that amount of cash on your person is unlikely to be insured and is probably a very stupid thing to do.

Doing a bank to bank transfer (assuming you have a thai bank account) verifies and validates source. Merely drawing the cash from your bank means absolutely nothing.

Makes me wonder if people concerned about exchange rates actually take the trouble to quantify the difference - its probably just a few bottles of beer........

[evadgib]

If a single note proves to be duff the OP will be for the high jump.

[ikbenhet]

Maybe he can get some of those paintings cheap and take them with him and sell them to the money exchange agent.

[jethro69]

Last week in Germany, on a train bound for Switzerland, the German authorities arrested a German and took him into custody.

He was charged with carrying - wait for it - "a large amount of cash in the sum of 9,380 euros."

Following his arrest for this crime, the German police raided the apartment of his Father - and found a trove of art treasures stolen during his Father's time as an art expert for the Nazis.

The point to remember is that the crime was carrying cash.

Lastly, go to your Bank and ask them for a special rate for this amount of euros.

If you cannot do that then take the money as a documentary credit - a sight draft for example.

Much safer and a higher/better rate of exchange than cash.

What you are saying is absolutely false and incorrect. To start with it is allowed under German Law to export as much money as one wishes. The customs may ask you to tell them why you are carrying that much cash (particularly if you are going to Switzerland or Luxemburg and this for obvious reasons), and if you are unable to explain where the money comes from and why you are taking it out, the custom authorities are allowed to investigate.

In this particular case, in October last year (2012) the person concerned was investigated for carrying with him a vast amount of money (some EURO 800K), which he could not explain where he got it from (it was later established that the money came from a sale of a painting for EURO 850K). In the course of the investigations the custom authorities obtained from the courts a search warrant for the persons flat (not his father's - he had been dead for a long time) and discovered more than thousand paintings of famous painters with a value of about a Billion Euro (EURO 1,000 Million), such paintings having been declared as lost or destroyed during WWII. This is now a news item worldwide.

I am not suggesting to the OP to bring cash in, this could lead to complications if it is a sizable amount. However, I think when reporting, people should stick to facts and not to incorrect stories!

When leaving the Federal Republic of Germany for another EU Member State (for example Luxembourg) or when entering Germany from another EU country, you must verbally declare cash and precious metals or stones with a value of 10,000 Euro or more when prompted to do so. Securities (for example, shares, debentures, cheques, money orders, bills of exchange and due interest warrants), have to be declared as well.

In Luxembourg, they did even ask me were the money came from when I had more than 10K in cash to put on my account.

Edited November 6, 2013 by jethro69

[ubonjoe]

I highly suggest you transfer you funds into the country if plan to convert from a visa exempt or tourist visa entry to get non immigrant visa to get your extension. There was a recent report that immigration would not accept a currency exchange receipt as proof that funds came from abroad.

TT rates are better than cash exchange.

EUREuro Zone41.59cash 41.88250 TT.

Todays Bangkok Bank rates.

Vasu money changer (Suk 7/1 - 42.05).

Never change money at the banks, but if you have to, don't use BBL

If money changer rate is correct that would only be 5,100 baht difference between bank rate and it.

I think that would not be enough for me to take the risks of carrying that much cash.

I have checked rates between the major banks and there is typically only a couple of satang difference at the most if any.

Edited November 6, 2013 by ubonjoe

[ongchart]

Carrying that amount of cash on your person is unlikely to be insured and is probably a very stupid thing to do.

 

Doing a bank to bank transfer (assuming you have a thai bank account) verifies and validates source. Merely drawing the cash from your bank means absolutely nothing.

 

Makes me wonder if people concerned about exchange rates actually take the trouble to quantify the difference - its probably just a few bottles of beer........

 

What beer do you drink? The difference between Super Rich's rate today of 42.15 and BBL rate of 41.59 results in a difference of THB16,800. I am also not suggesting OP brings in the cash, but just wondering how expensive your beer is. Cheers!

Sent from my iPhone using Thaivisa Connect Thailand mobile app

[sustento]

http://ec.europa.eu/taxation_customs/customs/customs_controls/cash_controls/index_en.htm

[ubonjoe]

Carrying that amount of cash on your person is unlikely to be insured and is probably a very stupid thing to do.

 

Doing a bank to bank transfer (assuming you have a thai bank account) verifies and validates source. Merely drawing the cash from your bank means absolutely nothing.

 

Makes me wonder if people concerned about exchange rates actually take the trouble to quantify the difference - its probably just a few bottles of beer........

 

What beer do you drink? The difference between Super Rich's rate today of 42.15 and BBL rate of 41.59 results in a difference of THB16,800. I am also not suggesting OP brings in the cash, but just wondering how expensive your beer is. Cheers!

Sent from my iPhone using Thaivisa Connect Thailand mobile app

That is the cash rate at the bank. I used 41.88 which is for a transfer and it is only a 5100 baht difference using the previously posted rate of 42.05 at a money changer;

[abrahamzvi]

Last week in Germany, on a train bound for Switzerland, the German authorities arrested a German and took him into custody.

He was charged with carrying - wait for it - "a large amount of cash in the sum of 9,380 euros."

Following his arrest for this crime, the German police raided the apartment of his Father - and found a trove of art treasures stolen during his Father's time as an art expert for the Nazis.

The point to remember is that the crime was carrying cash.

Lastly, go to your Bank and ask them for a special rate for this amount of euros.

If you cannot do that then take the money as a documentary credit - a sight draft for example.

Much safer and a higher/better rate of exchange than cash.

What you are saying is absolutely false and incorrect. To start with it is allowed under German Law to export as much money as one wishes. The customs may ask you to tell them why you are carrying that much cash (particularly if you are going to Switzerland or Luxemburg and this for obvious reasons), and if you are unable to explain where the money comes from and why you are taking it out, the custom authorities are allowed to investigate.

In this particular case, in October last year (2012) the person concerned was investigated for carrying with him a vast amount of money (some EURO 800K), which he could not explain where he got it from (it was later established that the money came from a sale of a painting for EURO 850K). In the course of the investigations the custom authorities obtained from the courts a search warrant for the persons flat (not his father's - he had been dead for a long time) and discovered more than thousand paintings of famous painters with a value of about a Billion Euro (EURO 1,000 Million), such paintings having been declared as lost or destroyed during WWII. This is now a news item worldwide.

I am not suggesting to the OP to bring cash in, this could lead to complications if it is a sizable amount. However, I think when reporting, people should stick to facts and not to incorrect stories!

When leaving the Federal Republic of Germany for another EU Member State (for example Luxembourg) or when entering Germany from another EU country, you must verbally declare cash and precious metals or stones with a value of 10,000 Euro or more when prompted to do so. Securities (for example, shares, debentures, cheques, money orders, bills of exchange and due interest warrants), have to be declared as well.

In Luxembourg, they did even ask me were the money came from when I had more than 10K in cash to put on my account.

The imperative word here are : WHEN PROMPTED TO DO SO. Even in Germany, not only in Luxemburg, one is asked by one's bank to disclose the source of cash deposited in ones account, if the amount exceeds EURO 10K. This is part of the fight against "black money" and the rule applies in all EU countries, or at least should do!

[bra]

If the OP decides to carry the cash he could loose the lot if he is not careful at the airports in the UK and Thailand. There are many who make their living extracting cash from bags, pockets etc at all airports - it happened to me once in Hong Kong. However if you bring in the cash make sure you have clean notes with no creases, tears etc. A money changer in BKK refused to buy 2X$A100 notes from me because there were slight tears in each note. The reason - he could not pass on to anyone wanting to buy $A.

[bangkokstick]

i highly suggest you hide this small amount in your pants as everybody does !!!

[bangkokstick]

This is a small amount, just keep it in your pants as everybody does !

But I wonder if you can use it to buy propoerty if you declare it ?

[joshuatdixon]

A friend of mine was debating doing this very thing from the USA. He decided to buy gold and sell it in Thailand. I'm not sure how much you would lose doing this, but if you check it may be worth it. I know nothing about it, just putting the idea out there.

Sent from my iPhone using Thaivisa Connect Thailand mobile app

[sustento]

http://dialogo-americas.com/en_GB/articles/rmisa/features/global_panorama/2012/04/01/feature-pr-23

[shaurene]

1: To T/T you would need a bank account in Thailand.

2: Most banks in other country's will do the exchange from your Euro to Baht on the transfer, unless you have a Euro account at the Thai bank.

3: Why don't you get a bank cheque in Euro and deposit in your Thai bank you will get a good rate for bank cheque.

[topt]

I highly suggest you transfer you funds into the country if you plan to convert from a visa exempt or tourist visa entry to get a non immigrant visa to get your extension.

There was a recent report that immigration would not accept a currency exchange receipt as proof that funds came from abroad.

Edit: Here is procedure to declare the money. http://www.customs.go.th/wps/wcm/connect/custen/traders+and+business/prohibited+and+restricted+items/currency/currency

Do you know if you get any sort of official stamped receipt or copy of your declaration or is it just filled in and filed away?

Just a thought that if you had that and some sort of written currency exchange receipt and your bank book with deposit on the same day you might expect that to be admissable - but I am guessing it will depend on the official concerned?

[rcalsop]

 

A friend of mine was debating doing this very thing from the USA. He decided to buy gold and sell it in Thailand. I'm not sure how much you would lose doing this, but if you check it may be worth it. I know nothing about it, just putting the idea out there.

Sent from my iPhone using Thaivisa Connect Thailand mobile app

 

not sure how the gold thing works in thailand but years ago in Morocco I bought at least every month some plain heavy gold bracelets for my wife which she wore with great pleasure and every annual trip she wore them and flew to UK and we always made a tidy profit and it kept the then wife very happy . regular purchasing in the souke at the same dealer was risk free and with a bit of care ( my wife checked the declared gold prices daily ) and spare cash was converted on the best deals it took me a while to get into her mentality of wearing your wealth and happily selling it later when it suited note highly decorated or ornamental gold is a different matter as tastes and work content alter pricing big fat bangles are a basically a shaped ingot which is what I wore under my shirt on a cheap chain to fly . medallion man ruled .

never made me rich but paid for holidays as savings and a few jars on the profit .

[bobholds]

My three penny worth is to say,..

Do not bring cash! If you do you may have it stolen, you may have an accident, you may be delayed in a dubious place or airport overnight, you maybe detained by customs o immigration fo another reason and may no get a reciept fo th money.... And so on..... If you MUST bring cash split it between all the travellers. Bring enough cash to see you over for a while - bu a credit card helps with this.

My best advice is to open an account in Thailand with one of the big operators and complete a money import certificate, if they ask why you bring so much say it is for living expenses, property rental and purchase.... This way if everything goes ti ts up fo you here you ( and it probably will) can take I bak ou of Thailand without ny trouble.

Finally, PUSH your chosen bank to get you a special rate when you're ready to do the transfer, almost every bank has special department or a designated person in the branch thats authorised to offer better rates, when you're offered h better rate tell them you're going to get a second opinion elsewhere and they MAY improve their offer. Why Di you need to bring it all at one go.....?

I hop this helps, CHEERS, Bob. Maybe you could buy me a beer with the extra money SAFELY generated eh!?

[ubonjoe]

I highly suggest you transfer you funds into the country if you plan to convert from a visa exempt or tourist visa entry to get a non immigrant visa to get your extension.

There was a recent report that immigration would not accept a currency exchange receipt as proof that funds came from abroad.

Edit: Here is procedure to declare the money. http://www.customs.go.th/wps/wcm/connect/custen/traders+and+business/prohibited+and+restricted+items/currency/currency

 

Do you know if you get any sort of official stamped receipt or copy of your declaration or is it just filled in and filed away?

 

Just a thought that if you had that and some sort of written currency exchange receipt and your bank book with deposit on the same day you might expect that to be admissable - but I am guessing it will depend on the official concerned?

I assume you would get a copy of the declaration. The bank might even want to see it.

I do knowthat money exchange receipt alone was not accepted at immigration.

Are you aware that with cash at the bank that you will get a lower exchange rate than if you do a transfer in Euros to the bank. Today it is .29 baht less per euro.

Source: http://www.bangkokbank.com/BangkokBank/WebServices/Rates/Pages/FX_Rates.aspx

[topt]

I highly suggest you transfer you funds into the country if you plan to convert from a visa exempt or tourist visa entry to get a non immigrant visa to get your extension.

There was a recent report that immigration would not accept a currency exchange receipt as proof that funds came from abroad.

Edit: Here is procedure to declare the money. http://www.customs.go.th/wps/wcm/connect/custen/traders+and+business/prohibited+and+restricted+items/currency/currency

Do you know if you get any sort of official stamped receipt or copy of your declaration or is it just filled in and filed away?

Just a thought that if you had that and some sort of written currency exchange receipt and your bank book with deposit on the same day you might expect that to be admissable - but I am guessing it will depend on the official concerned?

I assume you would get a copy of the declaration. The bank might even want to see it.

I do knowthat money exchange receipt alone was not accepted at immigration.

Are you aware that with cash at the bank that you will get a lower exchange rate than if you do a transfer in Euros to the bank. Today it is .29 baht less per euro.

Source: http://www.bangkokbank.com/BangkokBank/WebServices/Rates/Pages/FX_Rates.aspx

Thanks and yes but I have no Euros or interest in and when changing any cash I never use a bank branch but always use a specialist exchange