Bringing over $20,000 USD in cash? Anyone tried? What's the procedures?

[Shurup]

I thought there was a post regarding the subject, searched but couldn't find.

So here goes:

I normally bring some cash with me on my occasional trips back to Canada, then exchange at VASU and deposit into my TH bank account.

I never brought over $20K USD just so I don't need to report it (I do report when taking the money out of Canada as it's above $10K).

I missed (or didn't go by choice to be more exact) one of my trips so on the next trip I want to bring more than $20K.

I don't want to smuggle any money, all legal.

Anyone tried to bring more than $20K USD and declare it on arrival?

Is it a painless procedure or the customs try to <deleted>*k with people and part them with their money?

What would be the correct procedure to declare it?

Will I need to declare it while in transit through Tokyo or Hong-Kong by the way? I always thought that it might be a good idea just in case I got checked???

This whole cash carrying drama is to get as much THB for your $ as possible, hence I don't do the wire transfers and I exchange at VASU only when the exchange rate is good. Is there another safer alternative to bring in your money with minimal losses? What about money drafts or travelers cheques? What's the deal with them? Any places like VASU or SuperRich take them, any places other than banks?

Any other suggestions on how best to bring/transfer large (up to $50K) sums of money into Thailand?

[Gonsalviz]

The maximum amount you can carry to Thailand without reporting is $20,000 USD. I would stay under that for practical reasons. I do think the the US and Canada are the last holdouts on the $10,000 limit. Not for the trafficking reasons they claim but for control.

There is no procedure for that amount in Thailand. You only have to report if it is over the $20,000.

[thrilled]

The U.S. Say it's because of financing terrorists.I believe they just want to know your business.From the U.S. You can take over $10,000 out of the country but ya have to fill out A a customs form.

Just to put my 2 cents in,when ya go thru security,the X-ray machine can't determine if it's cash,only paper.I don't really believe

They are looking for money.They are looking for explosives etc.Something to take down an aircraft etc.

[SpokaneAl]

Just my two cents - I would try to avoid physically carrying that much money half way around the world if possible. I transfer necessary monies to a Bangkok Bank account just for ease and safety and on many occasions have transferred that amount or more in a single transaction.

However, if that is not possible, be careful.

[Shurup]

The maximum amount you can carry to Thailand without reporting is $20,000 USD. I would stay under that for practical reasons. I do think the the US and Canada are the last holdouts on the $10,000 limit. Not for the trafficking reasons they claim but for control.

There is no procedure for that amount in Thailand. You only have to report if it is over the $20,000.

Yeah I know that, that's why I said I never brought over $20K, never thought it is a good idea to let a Thai know how much $$ I'm carrying. No issues declaring it when leaving Canada though, they usually ask a few standard questions like where the money come from and what's for. Easy to answer when you have your Canadian Bank withdrawal receipt and you live in Thailand.

[Shurup]

The U.S. Say it's because of financing terrorists.I believe they just want to know your business.From the U.S. You can take over $10,000 out of the country but ya have to fill out A a customs form.

Just to put my 2 cents in,when ya go thru security,the X-ray machine can't determine if it's cash,only paper.I don't really believe

They are looking for money.They are looking for explosives etc.Something to take down an aircraft etc.

The modern x-ray machines are very sophisticated, I believe they could determine if you have cash if it's in 100 bill bundles, they may also be adding something into the bills during manufacturing process to make them visible. They do have cash sniffing dogs at the airport to there's something in them (bills).

[Shurup]

Just my two cents - I would try to avoid physically carrying that much money half way around the world if possible. I transfer necessary monies to a Bangkok Bank account just for ease and safety and on many occasions have transferred that amount or more in a single transaction.

However, if that is not possible, be careful.

There's just too many fees involved with bank wire transfers and you get poor exchange rate on top of it, on a large sum of money it's quite a bit of losses on the exchange rate alone, but I do agree it's safer.

If I couldn't figure out a safe way to bring over $20K, I'll just stick with my just under $20K routine, I think it's pretty safe considering not many people carry that much cash on them so no one would suspect I carry that much. And if I do get checked - I'm all legal.

Any comments regarding bank drafts and/or traveler's cheques? Anyone?

[DogNo1]

I get the best rate by doing a no-fee cash advance on my U.S. -based credit card which has no foreign transaction fee. I am charged $1 by my bank. There is a $500 limit but I can do two cash advances in one day. I then pay the amount immediately since interest accrues from the first day. So far I haven't had to pay any charges except for the $1. A recent rate that I got was 32.44 when most banks were paying about one baht less if you changed cash. This method has the added advantage of not requiring you to carry large amounts of cash just to get a good exchange rate. Bangkok Bank will not charge you any fee if you present your credit card at the bank counter and they then have you sign a slip. Their ATM does charge a fee - 150 or maybe 180 per cash advance.

[Shurup]

Thanks but it's not very convenient to go to the bank every day for almost a month to try to get the amount of cash I need, and still you don't get the best exchange rate overall, maybe the best for the day but it fluctuates. When I exchange at VASU, I just wait when it's a little better and then change it all in one shot normally with such large amounts they even give you a better rate than posted.

This method is OK for the emergencies I guess, my CapitalOne CC doesn't even charge me any foreign transaction fees and neither my bank, but I've found the exchange rate I get on transactions at the Canadian banks is slightly worse comparing to VASU rates.

If VASU was dealing with traveler's cheques even at slightly lower rates, it would still have been a good option for really large amounts, but I don't know if they do.

[frankwhite]

Turn it into travelers cheaques for the trip

Sent from my iPhone

[Shurup]

Turn it into travelers cheaques for the trip

Sent from my iPhone

Which places take them? Banks only? At what exchange rate, same as the cash or slightly lower?

[Smokin Joe]

Turn it into travelers cheaques for the trip

Sent from my iPhone

The reporting rules apply the same cash. It only saves on the bulkiness.

[Shurup]

^^ Good to know, thanks. I doubt though the Thai officials will ruffle though all of your papers looking for that single piece of paper. Definitely an option if I can get a fair exchange rate for them, but as of right now I have no idea which banks accept them.

[Briggsy]

Other posters have reported that declaring it on arrival will cause little but a bored nod from Customs. And on you go.

[Shurup]

Where are the declaration forms at? Any ideas? Do I declare it after I go through the PP control and picking up my bags, right before exiting into the meeting area?

[frankwhite]

Turn it into travelers cheaques for the trip

Sent from my iPhone

The reporting rules apply the same cash. It only saves on the bulkiness.

Done it numerous times without question

Sent from my iPhone

[Shurup]

Turn it into travelers cheaques for the trip

Sent from my iPhone

The reporting rules apply the same cash. It only saves on the bulkiness.

Done it numerous times without question

Sent from my iPhone

Where do you cash them and how's the exchange rate comparing to cash?

[SantiSuk]

Yes it's tricky finding prior relevant posts at time. This is probably the one you were thinking of:

http://www.thaivisa.com/forum/topic/570822-anyone-have-experience-with-bringing-in-cash-money-into-thailand-and-get-a-better-exchange-rate/page-2

[gchurch259]

First I do not have $20,000.00 USD. I do have a Charles Schwab account and have money there. I also have a Bangkok Bank account through the Emporium Branch. I can go to their Exchange/Service Desk present my passport and bank documents and receive $1,000.00 per visit and cost very little. I believe I could raise that amount through Schwab. Further, Schwab does not have ATM Fees, they show it charged and then show it back in the account.

I do not believe I would carry $20,000 in cash into Thailand.

Good luck, Jerry

[djvolak]

I also try to bring cash when I come back as I get the best exchange here in Bangkok at Superrich. I have left the US with more and arrived here in Thailand with more and never had anyone look. Maybe just luck but i was not worried about it as I could prove where the money came from. I did not do any paperwork on either end. It is my money. I worked for it at a legit job so i can do what I want with it where ever I want to. Right? Cheers! We were buying a house here. Cash. So I really wanted the best exchange I could get and that is me turning in 100's at Superrich.

[ChiangraiTony]

If you really want to physically carry US Dollars, you can take as much as you like just as long as you report it on the proper form. Do not try to hide it without reporting otherwise it will be taken from you.

[TallGuyJohninBKK]

The Thai banks are moving toward a new and higher fee structure for handling traveler's cheques -- 153 baht fee per check.

BKK Bank is charging that now, so is Ayudhya, TMB and various others. Traveler's cheques already were NOT an economical way of obtaining funds previously, and now even moreso with the higher per cheque fee.

I don't know how VASU and SuperRich handle traveler's cheques, and whether or not they're now charging the same higher fee.

But I do know they won't do credit card cash advances like some of the banks will. I asked last time I had popped by the VASU shop.

[spidermike007]

If from the fascists republics (The US or the UK) I would bring $9800 in cash, and the balance in high denomination travelers checks, buried in a book on a carry on. Something like that. Very discreet. Nobody will ever find it hopefully. It satisfied the Thai requirements, and fools the fascists.

[ChrisY1]

I just returned from Australia with my wife...we bought in $20K in AUD....

[Mousehound]

Traveller's cheques are the best way. Safer and you do get a slightly better exchange rate. Makes a difference on 20K US. Also quite legal and you are covered if you loose them. There is no charge to buy them from my bank.

Australia as noted above also has a cash limit of $10k per person.

[Wackyrog]

I think that the transfer is often a dilemma. Do I bring in cash and hope the rate is good at the time, or do I look at the bank rate and when it is good I buy then. The advantage with the second option is that you do have proof of bringing the money in and so should you decide to go the other way, there is less of a problem and you know the rate you are getting.

[circusman]

The maximum amount you can carry to Thailand without reporting is $20,000 USD. I would stay under that for practical reasons. I do think the the US and Canada are the last holdouts on the $10,000 limit. Not for the trafficking reasons they claim but for control.

There is no procedure for that amount in Thailand. You only have to report if it is over the $20,000.

Yeah I know that, that's why I said I never brought over $20K, never thought it is a good idea to let a Thai know how much $$ I'm carrying. No issues declaring it when leaving Canada though, they usually ask a few standard questions like where the money come from and what's for. Easy to answer when you have your Canadian Bank withdrawal receipt and you live in Thailand.

You may delete the word THAI and replace with ANY NATIONALITY.

[SteveB2]

First read up on the topic at http://www.fincen.gov/

Then take my following statements on board for instructions on how to take your cash for a walk

• The origin of your $20K wedge will definitely be of interest to any peaked hat who happens upon it - even if you declare it.
• Note that all large amounts of cash such as this are considered 'black' until proven 'white'
• Some sort of reporting form may be required dependent on what country you want to land the funds in.
• <Most Important> Carry 'proof of source' evidence to show where the cash came from. - A Bankers letter, salary slips, Boat/plane/car sale receipt, etc. These can be used again
• Physically moving USD 'large heads' USD100's which must be after 2003 to exchange in Thailand, is generally seen as quite foolish since the USD is not a financial dense money.
• So change the USD wedge into 'Ants' a.k.a Swiss 1000Francs bank notes for easy stashing into your wallet. Yes, CHF1,000 = THB36,500 ...One ant is worth more than $1,000
• Have a very good reason for why you're not doing a bank transfer - read below.

Background - I had to move a fair amount of cash around internationally at a time when I needed to go off the books to avoid a unfounded predatory legal action.

Never had any hassle using the above method, Including a search and find bust at an international airport with a 6 figure dollar sum on my person.

I just told the peaked hats that i truly don't trust banks, and quoted several recent banking collapses. I had salary slips for the last 5 years that easillty covered the amount.

Stick to your guns. be polite, well dressed. The worst experience was a 5 hours interrogation before I me and my cash walked out..

[Taco]

Cargo pants yearn for worthy cargo. The only way a farang gets pulled over at customs in Thailand is if you have a cardboard box part of your luggage. Pack those pants up and dont worry about it.

[CMBob]

There's just too many fees involved with bank wire transfers and you get poor exchange rate on top of it, on a large sum of money it's quite a bit of losses on the exchange rate alone, but I do agree it's safer.

I don't agree. Ignoring the issue of the hassle/safety of physically transporting $20k of cash, just do a SWIFT transfer to your Thai bank....and make sure you send it in either Canadian or US money (do not send it in baht as you'll get a lousy rate). You're bank will likely charge you $40-50 to make the transfer, your Thai bank will charge you about 500 baht, and your Thai bank will give you the exchange rate applicable the moment the funds show up.

Simple as that (so your "poor exchange rate" comment is simply not true).

A SWIFT transfer makes no financial sense for small sums but I think the $20,000.00 figure qualifies as acceptable. You're $65.00 charge equates to .325%.