Bringing money over in cash

[Anthony5]

Soon a friend will travel here for a holiday. I'm considering to ask him to bring money over for me in cash.

I'm talking about 3 - 500.000 Euro. The money is legal as it sits now in a several bank accounts, but first of all it isn't the right time to exchange Euros to Thai Baht and secondly there are limits and restrictions on the amount you can transfer in one time.

I understand that it would be no problem to bring it into Thailand as long as you declare it, but would it be a problem at the airport of origin?

[canuckoverseas]

Tape it your body, it will itch after a few hours, but you'll avoid the nuisance of declaring anything.

....lol, what are you a mule?

[hhgz]

"but would it be a problem at the airport of origin?"

Only if you don't declare it.

[kurtramsbottom]

You can buy a lot of broom handles with that!

[meatboy]

bringing in the cash is easy,BUT changing it to baht is not.

we have visitors from the uk.staying with us and the wife took them to 5 different banks to change some gbp.only to be told only change NEW NOTES.

they are one big f-kg joke.

[worgeordie]

Told my daughter to bring me over 5K Sterling ,in new or unwritten

on 50 pound notes,and the bank was not nice about it at all,it was

basically take what we give you.

regards Worgeordie

[Swiss1960]

OP, I don't know what you are thinking... but not too much I would guess...

first, you say that you do not want to exchange it to Thai baht now... so why then not just leave it on the bank accounts..

second, you say the money is legal in several bank accounts... which I assume are yours... so where is the problem of transferring it to Thailand, i.e. to a Euro account that you open in Thailand?

third, your friend would be stupid to act as a mule... how could HE prove that the money is his, since it comes from bank accounts that are NOT his.. he might end up in holding cells either on leaving the country or on arriving in Thailand, since he is NOT the owner of the money and can NOT prove the legality of it..

fourth, what limits and restrictions do your banks have on amounts you can transfer at one time? normally, when there are limits on transfer, there are the same limits on cashing out...

[96tehtarp]

Best not bring cash.

I'm not sure why the OP mentions a limit on the amount of money that can be sent with SWIFT transfers. There is no limit that I'm aware of although some larger amounts require extra paperwork to be done by the originating bank.

The OP might want to consider cashing personal cheques at his Thai bank. I've had good success with that although the bank waits about three weeks to "clear" the funds, I also get the tt rate.

Edited March 6, 2015 by 96tehtarp

[Swiss1960]

and just gives me another thought...

so the OP's "friend" will bring the cash... let us assume he declares it on the entry form to Thailand and gets it stamped... so from a Thai perspective it is the OP's "friend" money... and he is now the only one who could go to a Thai bank and say "look, I brought the money from abroad, it is legally declared in my name, so please give me millions of Thai Baht.." the OP could not do it and the OP would have no prove that the money came legally from abroad, so using it for anything that needs that prove (i.e. buying a condo), the OP would be stuck with useless Euro bills...

said all that... OP... just send me the payment instructions for your bank, I will cash the money and then will meet you at the airport when I come next time... you better hope I make the flight and / or do not miss you at the airport... cause as I said.. the money will be legally mine from a Thai customs perspective

Edit: the quotes around "friend" are there on purpose... friendship tends to be tested when several hundreds of thousands of Euro are involved...

Edited March 6, 2015 by Swiss1960

[96tehtarp]

When bringing the amount of money mentioned in the OP into Thailand one really should get a ""Foreign Exchange Document" (formerly Tor Tor 3) for it. That way it can be taken out of the country relatively easily. This would be almost impossible with undeclared cash. The OP wouldn't even be allowed to purchase a Condo with it.

It's time for the OP to have a sit down meeting with his Thai bank manager to find a less unsophisticated solution.

[Anthony5]

and just gives me another thought...

so the OP's "friend" will bring the cash... let us assume he declares it on the entry form to Thailand and gets it stamped... so from a Thai perspective it is the OP's "friend" money... and he is now the only one who could go to a Thai bank and say "look, I brought the money from abroad, it is legally declared in my name, so please give me millions of Thai Baht.." the OP could not do it and the OP would have no prove that the money came legally from abroad, so using it for anything that needs that prove (i.e. buying a condo), the OP would be stuck with useless Euro bills...

said all that... OP... just send me the payment instructions for your bank, I will cash the money and then will meet you at the airport when I come next time... you better hope I make the flight and / or do not miss you at the airport... cause as I said.. the money will be legally mine from a Thai customs perspective

Edit: the quotes around "friend" are there on purpose... friendship tends to be tested when several hundreds of thousands of Euro are involved...

You ever been in Thailand?

I walk into any respectable money exchanger in Thailand with 1 Million Euro in cash, and it will be exchanged to Thai Baht at a whim with no questions asked, given that they have that amount of Thai Baht available of course.

[Anthony5]

Best not bring cash.

I'm not sure why the OP mentions a limit on the amount of money that can be sent with SWIFT transfers. There is no limit that I'm aware of although some larger amounts require extra paperwork to be done by the originating bank.

The OP might want to consider cashing personal cheques at his Thai bank. I've had good success with that although the bank waits about three weeks to "clear" the funds, I also get the tt rate.

I believe that everything above 10.000 Euro requires the extra paperwork. Remember a few years ago that I had a discussion with my bank in Europe where he asked that I provide an invoice for the goods I wanted to purchase in Thailand. It may have been a case of ignorance from the bank manager, but I recall that I used another bank to do the transfer at that time.

I also believe that only a certain amount per transaction is allowed, so that would mean multiple transaction, and for this amount of money would mean a considerable amount of fee's.

It would also mean that the money get exchanged to Baht on arrival, which I think is not such a tremendous idea at 36 Baht to the Euro.

The reason I want to get it here now is because with the Greek debacle going on, I expect a second Cyprus event in the not too distant future. You will know the EU countries have already that law in place since last year, so it will take only the stroke of a pen and all your savings are theirs.

[Anthony5]

Told my daughter to bring me over 5K Sterling ,in new or unwritten

on 50 pound notes,and the bank was not nice about it at all,it was

basically take what we give you.

regards Worgeordie

I know about that.

My cousin just told me the other week that he withdraw 50.000 Euro, which he had received from the house sale of his deceased mother in law, and he had to use big arguments to be able to withdraw his own money.

He withdrew it for the same reason as me, to keep it safe under his mattress.

[96tehtarp]

Best not bring cash.

I'm not sure why the OP mentions a limit on the amount of money that can be sent with SWIFT transfers. There is no limit that I'm aware of although some larger amounts require extra paperwork to be done by the originating bank.

The OP might want to consider cashing personal cheques at his Thai bank. I've had good success with that although the bank waits about three weeks to "clear" the funds, I also get the tt rate.

I believe that everything above 10.000 Euro requires the extra paperwork. Remember a few years ago that I had a discussion with my bank in Europe where he asked that I provide an invoice for the goods I wanted to purchase in Thailand. It may have been a case of ignorance from the bank manager, but I recall that I used another bank to do the transfer at that time.

I also believe that only a certain amount per transaction is allowed, so that would mean multiple transaction, and for this amount of money would mean a considerable amount of fee's.

It would also mean that the money get exchanged to Baht on arrival, which I think is not such a tremendous idea at 36 Baht to the Euro.

The reason I want to get it here now is because with the Greek debacle going on, I expect a second Cyprus event in the not too distant future. You will know the EU countries have already that law in place since last year, so it will take only the stroke of a pen and all your savings are theirs.

Talk to your Thai banker. Open an account in US Dollars' Euro, or GPB.

Tell your UK bank the purpose of the fund transfer is you intend to purchase a condo.

There is no limit on transfer amount, yet. AFAIK.

Don't forget to ask your Thai Banker for the "Foreign Exchange Document" without it you cannot purchase a condo or get your money out of Thailand.

Edited March 6, 2015 by 96tehtarp

[Swiss1960]

and just gives me another thought...

so the OP's "friend" will bring the cash... let us assume he declares it on the entry form to Thailand and gets it stamped... so from a Thai perspective it is the OP's "friend" money... and he is now the only one who could go to a Thai bank and say "look, I brought the money from abroad, it is legally declared in my name, so please give me millions of Thai Baht.." the OP could not do it and the OP would have no prove that the money came legally from abroad, so using it for anything that needs that prove (i.e. buying a condo), the OP would be stuck with useless Euro bills...

said all that... OP... just send me the payment instructions for your bank, I will cash the money and then will meet you at the airport when I come next time... you better hope I make the flight and / or do not miss you at the airport... cause as I said.. the money will be legally mine from a Thai customs perspective

Edit: the quotes around "friend" are there on purpose... friendship tends to be tested when several hundreds of thousands of Euro are involved...

You ever been in Thailand?

I walk into any respectable money exchanger in Thailand with 1 Million Euro in cash, and it will be exchanged to Thai Baht at a whim with no questions asked, given that they have that amount of Thai Baht available of course.

Bullshit... even though this IS Thailand, they have money laundering rules and NO RESPECTABLE money exchanger will change your 1Mio Euro to THB without CLEAR and UNDISPUTABLE prove of the source and import declaration of the funds... which you will NOT have when your friend brings it in!

[Anthony5]

and just gives me another thought...

so the OP's "friend" will bring the cash... let us assume he declares it on the entry form to Thailand and gets it stamped... so from a Thai perspective it is the OP's "friend" money... and he is now the only one who could go to a Thai bank and say "look, I brought the money from abroad, it is legally declared in my name, so please give me millions of Thai Baht.." the OP could not do it and the OP would have no prove that the money came legally from abroad, so using it for anything that needs that prove (i.e. buying a condo), the OP would be stuck with useless Euro bills...

said all that... OP... just send me the payment instructions for your bank, I will cash the money and then will meet you at the airport when I come next time... you better hope I make the flight and / or do not miss you at the airport... cause as I said.. the money will be legally mine from a Thai customs perspective

Edit: the quotes around "friend" are there on purpose... friendship tends to be tested when several hundreds of thousands of Euro are involved...

You ever been in Thailand?

I walk into any respectable money exchanger in Thailand with 1 Million Euro in cash, and it will be exchanged to Thai Baht at a whim with no questions asked, given that they have that amount of Thai Baht available of course.

Bullshit... even though this IS Thailand, they have money laundering rules and NO RESPECTABLE money exchanger will change your 1Mio Euro to THB without CLEAR and UNDISPUTABLE prove of the source and import declaration of the funds... which you will NOT have when your friend brings it in!

So fine, you just confirmed that you've never been in Thailand.

[Anthony5]

Best not bring cash.

I'm not sure why the OP mentions a limit on the amount of money that can be sent with SWIFT transfers. There is no limit that I'm aware of although some larger amounts require extra paperwork to be done by the originating bank.

The OP might want to consider cashing personal cheques at his Thai bank. I've had good success with that although the bank waits about three weeks to "clear" the funds, I also get the tt rate.

I believe that everything above 10.000 Euro requires the extra paperwork. Remember a few years ago that I had a discussion with my bank in Europe where he asked that I provide an invoice for the goods I wanted to purchase in Thailand. It may have been a case of ignorance from the bank manager, but I recall that I used another bank to do the transfer at that time.

I also believe that only a certain amount per transaction is allowed, so that would mean multiple transaction, and for this amount of money would mean a considerable amount of fee's.

It would also mean that the money get exchanged to Baht on arrival, which I think is not such a tremendous idea at 36 Baht to the Euro.

The reason I want to get it here now is because with the Greek debacle going on, I expect a second Cyprus event in the not too distant future. You will know the EU countries have already that law in place since last year, so it will take only the stroke of a pen and all your savings are theirs.

Talk to your Thai banker. Open an account in US Dollars' Euro, or GPB.

Tell your UK bank the purpose of the fund transfer is you intend to purchase a condo.

There is no limit on transfer amount, yet. AFAIK.

Don't forget to ask your Thai Banker for the "Foreign Exchange Document" without it you cannot purchase a condo or get your money out of Thailand.

I understand from previous threads on this forum that an account in foreign currency doesn't only not pay any interest, but in fact cost money to maintain.

Maybe someone with the experience can confirm or correct.

[taxout]

You generally have to declare not just the import of currency over a specified amount, you also have to declare its export on departure. And if the traveller enters a third country while in transit, there may be more declaration obligations. Depending on the country involved, the traveller could very reasonably expect -- indeed, should anticipate -- being questioned about the source of the funds and the purpose of carrying cash, especially such a large amount as here. If there are no good answers -- and a "helpful" friend may well not have answers -- then in some jurisdictions the authories may be authorised to impound the cash till they are satisfied it's legally sourced.

Not a smart idea at all.

Note as well that some banks may refuse such a large cash withdrawal, or make it very difficult: you will likelyt have to satisfy the bank there's a legitimate need for so much cash.

Edited March 6, 2015 by taxout

[Soutpeel]

and just gives me another thought...

so the OP's "friend" will bring the cash... let us assume he declares it on the entry form to Thailand and gets it stamped... so from a Thai perspective it is the OP's "friend" money... and he is now the only one who could go to a Thai bank and say "look, I brought the money from abroad, it is legally declared in my name, so please give me millions of Thai Baht.." the OP could not do it and the OP would have no prove that the money came legally from abroad, so using it for anything that needs that prove (i.e. buying a condo), the OP would be stuck with useless Euro bills...

said all that... OP... just send me the payment instructions for your bank, I will cash the money and then will meet you at the airport when I come next time... you better hope I make the flight and / or do not miss you at the airport... cause as I said.. the money will be legally mine from a Thai customs perspective

Edit: the quotes around "friend" are there on purpose... friendship tends to be tested when several hundreds of thousands of Euro are involved...

You ever been in Thailand?

I walk into any respectable money exchanger in Thailand with 1 Million Euro in cash, and it will be exchanged to Thai Baht at a whim with no questions asked, given that they have that amount of Thai Baht available of course.

if you get that far, if customs catch you with the cash and its not been declared, your losing the lot...

http://www.thaivisa.com/forum/topic/802280-busted-bringing-to-much-money-into-thailand-whats-the-fine/

Edited March 6, 2015 by Soutpeel

[Anthony5]

Note as well that some banks may refuse such a large cash withdrawal, or make it very difficult: you will likelyt have to satisfy the bank there's a legitimate need for so much cash.

That is the main reason why I want to bring it over, because that are clearly the signs on the wall that your own money doesn't belong to you anymore.

[Anthony5]

Any other suggestions how to get it here legally in Euro's with a minimum in fees are welcome.

[Soutpeel]

Note as well that some banks may refuse such a large cash withdrawal, or make it very difficult: you will likelyt have to satisfy the bank there's a legitimate need for so much cash.

That is the main reason why I want to bring it over, because that are clearly the signs on the wall that your own money doesn't belong to you anymore.

your about 10 years too late on this one...

why Thailand ? just put it into Singapore or HK, if its all legit then no issue and far easier to deal with

[Swiss1960]

You ever been in Thailand?

I walk into any respectable money exchanger in Thailand with 1 Million Euro in cash, and it will be exchanged to Thai Baht at a whim with no questions asked, given that they have that amount of Thai Baht available of course.

Bullshit... even though this IS Thailand, they have money laundering rules and NO RESPECTABLE money exchanger will change your 1Mio Euro to THB without CLEAR and UNDISPUTABLE prove of the source and import declaration of the funds... which you will NOT have when your friend brings it in!

So fine, you just confirmed that you've never been in Thailand.

sure... 3 Thai accounts... SWIFT transferred more than 100K Swiss to each of them in a single transaction per Thai account...

we could bet... you walk into a RESPECTABLE money exchanger with 100K Euro that your friend brought in... and I bet the police will be there within 10 minutes (ok.. 30 minutes as this is Thailand) and question you about where the money came from, what documents you have to prove that it is your money and obtained legally and I would almost guarantee that you won't see the money again when your friend brought it in... cause the name on the immigration declaration forms will be his name...

[Soutpeel]

You ever been in Thailand?

I walk into any respectable money exchanger in Thailand with 1 Million Euro in cash, and it will be exchanged to Thai Baht at a whim with no questions asked, given that they have that amount of Thai Baht available of course.

Bullshit... even though this IS Thailand, they have money laundering rules and NO RESPECTABLE money exchanger will change your 1Mio Euro to THB without CLEAR and UNDISPUTABLE prove of the source and import declaration of the funds... which you will NOT have when your friend brings it in!

So fine, you just confirmed that you've never been in Thailand.

sure... 3 Thai accounts... SWIFT transferred more than 100K Swiss to each of them in a single transaction per Thai account...

we could bet... you walk into a RESPECTABLE money exchanger with 100K Euro that your friend brought in... and I bet the police will be there within 10 minutes (ok.. 30 minutes as this is Thailand) and question you about where the money came from, what documents you have to prove that it is your money and obtained legally and I would almost guarantee that you won't see the money again when your friend brought it in... cause the name on the immigration declaration forms will be his name...

lets face facts, anyone who is hand carrying large quantities of cash these days over international borders is perceived to be a drug dealer or the money hasn't been legally aquired

[Swiss1960]

Bullshit... even though this IS Thailand, they have money laundering rules and NO RESPECTABLE money exchanger will change your 1Mio Euro to THB without CLEAR and UNDISPUTABLE prove of the source and import declaration of the funds... which you will NOT have when your friend brings it in!

So fine, you just confirmed that you've never been in Thailand.

sure... 3 Thai accounts... SWIFT transferred more than 100K Swiss to each of them in a single transaction per Thai account...

we could bet... you walk into a RESPECTABLE money exchanger with 100K Euro that your friend brought in... and I bet the police will be there within 10 minutes (ok.. 30 minutes as this is Thailand) and question you about where the money came from, what documents you have to prove that it is your money and obtained legally and I would almost guarantee that you won't see the money again when your friend brought it in... cause the name on the immigration declaration forms will be his name...

lets face facts, anyone who is hand carrying large quantities of cash these days over international borders is perceived to be a drug dealer or the money hasn't been legally aquired

Except for the OP... he must be SOOOO handsum and have SOOOO trustable blue eyes that HE can walk around with 1 Mio Euro in Cash and nobody will question him...

[Briggsy]

God, this topic really brings out so many incorrect facts.

If you bring cash out of the EU (I don't know about Switzerland) you should declare any amount equivalent to a value greater than 10,000 Euros.

If you bring cash into Thailand you must declare any amount equivalent to $20,000.

Both authorities may ask you the source of the cash.

It is no problem whatsoever changing cash of any major currency into baht in Thailand. There are numerous money launderers money changers falling over themselves to help you.

The OP stated 3 - 500.000 Euros. I assume this means three hundred thousand to five hundred thousand Euros. If the OP is talking this amount IN CASH, I guess he is just having a laugh or needs his head tested. Who gets a mate to carry half a million Euros in cash halfway across the world as a favour.

[Soutpeel]

I guess he is just having a laugh or needs his head tested.

I am guessing both

[Anthony5]

The OP stated 3 - 500.000 Euros. I assume this means three hundred thousand to five hundred thousand Euros. If the OP is talking this amount IN CASH, I guess he is just having a laugh or needs his head tested. Who gets a mate to carry half a million Euros in cash halfway across the world as a favour.

Some people have friends they can trust with their life, others have drinking mates, it's obvious which category TV members fall into.

[Briggsy]

The OP stated 3 - 500.000 Euros. I assume this means three hundred thousand to five hundred thousand Euros. If the OP is talking this amount IN CASH, I guess he is just having a laugh or needs his head tested. Who gets a mate to carry half a million Euros in cash halfway across the world as a favour.

Some people have friends they can trust with their life, others have drinking mates, it's obvious which category TV members fall into.

I believe you are being disingenuous. You then follow it up with a thinly veiled condescending insult.

There are many issues here, trusting your friend is the very least of them. Of course, everybody has a friend they could trust not to steal their cash.

The biggest issue is explaining to the authorities when leaving Switzerland why your friend is carrying half a million Euros for you.

The next is the possibility that your friend mislays the money or is robbed between leaving the bank in Switzerland and handing the bag of cash to you in Roi Et.

The third is how your friend is going to withdraw half a million Euros in cash from several accounts in your name.

There are other risks as well, including counterfeits and the risk for you carrying the money around in Thailand.

Everything about this thread and your attitude suggests this is just another of your silly trolling threads but I will give you the benefit of the doubt.

[Naam]

I believe you are being disingenuous. You then follow it up with a thinly veiled condescending insult.

There are many issues here, trusting your friend is the very least of them. Of course, everybody has a friend they could trust not to steal their cash.

The biggest issue is explaining to the authorities when leaving Switzerland why your friend is carrying half a million Euros for you.

The next is the possibility that your friend mislays the money or is robbed between leaving the bank in Switzerland and handing the bag of cash to you in Roi Et.

The third is how your friend is going to withdraw half a million Euros in cash from several accounts in your name.

There are other risks as well, including counterfeits and the risk for you carrying the money around in Thailand.

Everything about this thread and your attitude suggests this is just another of your silly trolling threads but I will give you the benefit of the doubt.

i find

Everything about this thread

extremely entertaining