Best way to send money overseas? (to the States)

[ywamer]

Hi, I am about to permanently leave Thailand, as I will heading to the US for work. Soon I will sell my car and a few household things, and will need to find a trustworthy way to transfer 500,000 baht back to the US.

What are my options? And what is best? Bank transfer? Deposit the cash to my local BangkokBank account and use debit card to withdraw once in America?

Are there any other ways? Suggestions?

Thanks.

[Cheesekraft]

don't think you can wire out, if you want to use the legacy financial system think you need to use the ATM card, but if you lose it you will have to fly back to Thailand to make a new one.

[gk10002000]

I really don't know what the wire transfer forms are that a Thai bank might want or require or the ins and outs of wiring money out of Thailand. I have only sent money in! But 500,000 baht is about 15,625 USD. You might simply be able to use your Thai bank ATM card and make withdrawals in the USA. Depending on the withdrawal limit this could take a few days. Maybe split the money up between two banks that have USA workable ATM cards and then you can withdraw in the USA faster and that also give you some backup?

[gk10002000]

And you can simply withdraw a lot of the Baht, say $10,000 USD worth, and then you can travel to the USA and exchange the baht there for USD. Not the best exchange places in the USA, but keeping it below $10,000 USD means you won't need any special USA customs form. I am not sure what Thai exit forms say about carrying xx number of baht out of Thailand?

[Forkinhades]

Change $10000 here, and just declare it airport.

For the rest use your ATM card

[uptheos]

Do you or someone you trust have a bank account in US?

If so doing a SWIFT transfer for that amount is a piece of cake via Bangkok Bank.

[3mike26]

Have you looked into bitcoin? It might be perfect for what you're purposes.

[pmarlowe]

If you have a USA account it should be no problem to transfer 500k baht to it from Bangkok Bangkok. I do it all the the but with SCB. They move the money quickly.

[roblgs]

Ditto the Wire Transfer suggestion... Assuming you have a US account to which you can transfer the funds. Fees are reasonable and transfer is quick. Certainly cheaper than withdrawing cash via an ATM once you get there.

There should be no problem on the amount you are talking about, but likely different if the sum were in the millions!

[Colin1958]

To transfer money out you have to show you bought it in in the first place by way of pink bank transfer slip.

Better to just change a bit at a time into USD and carry it out with you.

[Suradit69]

And you can simply withdraw a lot of the Baht, say $10,000 USD worth, and then you can travel to the USA and exchange the baht there for USD. Not the best exchange places in the USA, but keeping it below $10,000 USD means you won't need any special USA customs form. I am not sure what Thai exit forms say about carrying xx number of baht out of Thailand?

"I am not sure what Thai exit forms say about carrying xx number of baht out of Thailand? "

Foreign Currency

The travelers bringing foreign currency more than USD 20,000 or its equivalent into or out of Thailand are required to make a report to Customs. This report is required by the “Ministerial Regulation (No. 25) B.E. 2530 issued under the Authority of the Currency Exchange Control Act B.E. 2485 and relevant regulations.

The Regulation and Notification require that the travelers bringing foreign currency into or out of Thailand, both a bank note and a coin, with the total aggregate value exceeding USD 20,000 or its equivalent, must report it to a Customs officer at a port/airport of entry or exit, using the given Foreign Currency Declaration Form. The travelers must complete, sign, and submit the Form to report their foreign currency where such currency are physically carried by a person arriving in or departing from Thailand, or where they form part of the person’s baggage and that person and his or her baggage are being carried on board the same conveyance across the border.

Thai Currency

The amount of 50,000 baht or more in Thai currency must be reported on departure, except those traveling to Lao PDR., Myanmar, Cambodia, Malaysia, and Vietnam are allowed to take out Thai currency not exceeding 500,000 baht.

http://www.customs.go.th/wps/wcm/connect/custen/travellers/departing+from+thailand/departingfromthailand

Edited May 14, 2015 by Suradit69

[Maestro]

Make a bank transfer to your bank account in the USA. Reason for the remittance: personal expenses.

[Cheesekraft]

Have you looked into bitcoin? It might be perfect for what you're purposes.

absolutely one of the best ways to get around restrictive banking but takes some getting used to..

[Maestro]

Removed a troll post.

[Lukecan]

Just carry it with you to the states, 500k baht is no biggie.