Why does superrich require you to scan your ID/passport when changing money?

[ultimate weapon]

In my home country we just queue up in front of the money changer look at the rates on the board and change whatever currency.

Over there they have queue numbers, photo copy machines to scan your id and after that they staple the number you changed.

Was it because of some type of cheating thing going on?

[ultimate weapon]

Oh yes the guy at the counter scanning my passport also asked me which hotel i stayed at cos he wanted to send me a present i suppose.

If they scan your ID they have your home address in your home country too so that they can visit you.

[David48]

For the same reason that every bank that I have dealt with require ID.

Normally they only ask for the Hansum man's photo. If you are very Hansum ... they actually ask you to autograph it.

Why they asked you ... no idea.

Did you ask them?

.

[ultimate weapon]

Banks are not money changers.

I have changed money in singapore and US and no id was required.

[Don Mega]

Banks are not money changers.

I have changed money in singapore and US and no id was required.

Next time fly to the US or Singapore when you want to change some cash. Or show your ID here in Thailand and just deal with the fact you are required to.

[David48]

Banks are not money changers.

I have changed money in singapore and US and no id was required.

"Banks are not money changers." ...

.

[Soutpeel]

The reason is simple if you have passed dodgy currency they know who you are and BTW banks are money changers as well

Edited November 22, 2014 by theoldgit

[IMA_FARANG]

I don't know for sure, but I suspect it has a lot to do with money laundering reasons and your verified passport I.D.

Otherwise, why would they staple your photo I.D. record to your transaction slip?

In the U.S. the name of a person, his or her telephone number (sometimes from as early as 1980) and their address are available to Banks now as a "Public Information Records".

That's how the credit card companies know your address to sent a credit card application to you.

If you live in the U.S. now, you may receive at least 6 credit card applications you don't want every year.

Edited November 22, 2014 by IMA_FARANG

[theoldgit]

Troll calling post removed.

[Pib]

Counterfeit currency and money laundering.

[NCC1701A]

governments hate cash because there is no paper trail.

now there is a record of the transaction. Including your photo, passport number, signature, time, date and location.

it can be proved you had x amount of cash in Thailand.

at some point, somebody from your government might ask you where the cash came from.

you don't want to know what they did with your photo.

Edited November 22, 2014 by NCC1701A

[mitsubishi]

Just go to chinatown, plenty of under the table money changers there.

[ultimate weapon]

governments hate cash because there is no paper trail.

now there is a record of the transaction. Including your photo, passport number, signature, time, date and location.

it can be proved you had x amount of cash in Thailand.

at some point, somebody from your government might ask you where the cash came from.

you don't want to know what they did with your photo.

in singapore they don't do that and also i believe in bkk airport the money changers there don't need ID just superrich.

[Don Mega]

I have changed money at both BKK airports. They both wanted my passport.

[SheungWan]

One money exchange place asked me for ID.

No hab.

Signed a scrappy piece of paper and the transaction was completed.

[Sviss Geez]

Oh yes the guy at the counter scanning my passport also asked me which hotel i stayed at cos he wanted to send me a present i suppose.

If they scan your ID they have your home address in your home country too so that they can visit you.

Your passport has your home address in it?

Your use of the word "scanning" gives a slightly sinister tone to your original question when you mean photocopying. They do that so that they know who has changed currency with them and it is probably a legal requirement.

Edited November 23, 2014 by Sviss Geez

[Sviss Geez]

Banks are not money changers.

I have changed money in singapore and US and no id was required.

"Banks are not money changers."

Yes they are, by definition.

Edited November 23, 2014 by Sviss Geez

[ultimate weapon]

Oh yes the guy at the counter scanning my passport also asked me which hotel i stayed at cos he wanted to send me a present i suppose.

If they scan your ID they have your home address in your home country too so that they can visit you.

Your passport has your home address in it?

Your use of the word "scanning" gives a slightly sinister tone to your original question when you mean photocopying. They do that so that they know who has changed currency with them and it is probably a legal requirement.

No it doesn't.

I said if they scan your ID it has your home address on it not the passport.

[CharlieH]

off topic posts removed

[Satcommlee]

It's just a deterrent, even people with mickey mouse money want a better rate than the Bank Booths give!

[SinCityGr8One]

It's probably part of a paper trail for anti-money laundering purposes. Bank of Thailand Fact: "Any person bringing into or taking out of Thailand foreign currency bank notes in an aggregate amount exceeding USD 20,000 or its equivalent must declare to a customs officer." Just think, If you exchanged more than that allowable amount during you stay, without declaration upon arrival, you would appear to be possibly money laundering.

[ultimate weapon]

It's probably part of a paper trail for anti-money laundering purposes. Bank of Thailand Fact: "Any person bringing into or taking out of Thailand foreign currency bank notes in an aggregate amount exceeding USD 20,000 or its equivalent must declare to a customs officer." Just think, If you exchanged more than that allowable amount during you stay, without declaration upon arrival, you would appear to be possibly money laundering.

Yes should be but by the posts of people in here you can change money without showing your id like in yarowat or that guy that mentioned the money changer didn't if he brought along his ID or not there's 2 types of money changers here legitimate types and not so legit ones and if you are an actual criminal laundering money you would know about this and wouldn't even be a mile near superrich at all.

[LawrenceChee]

governments hate cash because there is no paper trail.

now there is a record of the transaction. Including your photo, passport number, signature, time, date and location.

it can be proved you had x amount of cash in Thailand.

at some point, somebody from your government might ask you where the cash came from.

you don't want to know what they did with your photo.

in singapore they don't do that and also i believe in bkk airport the money changers there don't need ID just superrich.

Not true if you change over $5000 in Singapore ...they will ask for your details as well and passport or ID

[ultimate weapon]

governments hate cash because there is no paper trail.

now there is a record of the transaction. Including your photo, passport number, signature, time, date and location.

it can be proved you had x amount of cash in Thailand.

at some point, somebody from your government might ask you where the cash came from.

you don't want to know what they did with your photo.

in singapore they don't do that and also i believe in bkk airport the money changers there don't need ID just superrich.

Not true if you change over $5000 in Singapore ...they will ask for your details as well and passport or ID

5k is quite a huge amount. Obviously the smartest thing to do would be not to change 5k at one go but say 4.5k one time and another such amount another time. It's a bit troublesome but if you're trying to avoid detection that's actually a very good way just change below the amount that requires ID and do it a number of times with different changers.

[KhunBENQ]

Just read in another forum that the rule for presenting the passport at currency exchange seems to be enforced strictly now.

E.g. the many "TT currency exchange" booths in Pattaya have a dual language (Eng/Th) note regarding this.

Passport required, national ID cards or driving permits not accepted.

I suspect that this rule has existed eversince, but just nobody cared.

About 15 years ago, changing money at an upcountry bank branch was a big effort.

Copies of passport made, all banknote serial numbers noted

Edited July 12, 2015 by KhunBENQ