Moving Money

[francismurphy]

Can anybody help ? I am going to Thailand end of June and want to take around £16,000 with me. Is it better to send money through bank or , exchange rate wise, is it better for me to take dollars or pounds sterling ? And exchange money in Thailand. What is your best advice. Thankyou.

[Gumballl]

Let me guess, the money is for the "dowry".

I would not give, or even take in cash so much money. But for all I know, that kind of money is pocket change for you.

The best thing I recommend is that you carry the money in the form of travellers checks. Do not carry cash. Also, consider using an ATM in Thailand, or obtaining a cash advance from a credit card (at a bank in Thailand). For these last two options, notify your bank that you will be making sizeable withdrawals/advances in Thailand, so that they do not suspect fraud or theft.

P.S. If the money is for a dowry, I would not recommend offering more than say 100K - 200K baht. To offer any more is ridiculous, nor is it warranted.

Edited May 27, 2006 by Gumballl

[lopburi3]

The reason for the money is important as if for immigration extension of stay or a condo purchase it should have a record from outside Thailand that wire transfer provides. Wire transfer will also provide the best exchange rate for that amount of money. To do that you will probably have to visit your bank and set up an agreement/password type arrangement and then when you have an account here, or know the account you will be sending it to have them transfer using phone/fax or internet depending on your arrangements.

[topfield]

I think everybody above advising would agree on two things francis murphy :

1. A million baht as sinsot or bride price ( dowry is usually money paid to the husband the traditional now historical English payment on marriage and the current Indian custom) is far too much to pay unless the bride is a virgin , comes from a high class family, and has very distinguished educational record . As advised above 100.000-200.000 is the current norm for foreigners to pay .

2. Correct advice can only be given if francismurphy gives us more info. Is the payment a one off or more for regular daily, weekly expenditure ?

[Taggart]

The reason for the money is important as if for immigration extension of stay or a condo purchase it should have a record from outside Thailand that wire transfer provides. Wire transfer will also provide the best exchange rate for that amount of money. To do that you will probably have to visit your bank and set up an agreement/password type arrangement and then when you have an account here, or know the account you will be sending it to have them transfer using phone/fax or internet depending on your arrangements.

If one is transferring money on a monthly basis from a foreign bank account to a Thai Bank account for marriage or retirement visa purposes, is wire transfer the cheapest way to go? Paying $30 to $40+ per month in charges would add up over the course of a year.