CDN$ into Thailand

[ouagadougou]

Hi, I'm a Canadian citizen....non-resident....trying to figure out what best to do with some Canadian dollars.

Due to non-residency status, I do not have a bank account in Canada (only in America) and would like to have relatively easy access to the cash. Current exchange rate makes conversion from canadian to american dollars miserable....and i don't need any of it now anyway.

I'm currently in Canada and so far the easiest 2 options that come to mind is to bring cdn cash into Thailand (usd equivalent <$20,000) and either deposit it into a Canadian dollar bank account or throw it into a safety deposit box and convert when necessary.

I usually live on usd and have noticed in the past that even when the usd is more or less on par with the cdn dollar it isn't so friendly within Thailand.

Thoughts? Suggestions?

Thank you....

Edited December 16, 2015 by ouagadougou

[ourdon]

Take your cash to Oanda, or some other exchange house or a bank and get it changed to HKD, THB, Dong or whatever you need. I don't think you need to be a client to buy money from a bank. A main branch of any bank should have baht but I find I get a better rate from the exchange houses. Phone around and find out who gives you the best rate.

[DJW]

I am a Canadian and a non-resident. I am retired and have lived in Thailand for several years. You can legally have one Canadian bank account in Canada as a non-resident. You can confirm this with a tax accountant in Canada. You can then keep your money in Canada and transfer it to Thailand as you need it. You can't transfer it through online banking if you are here in Thailand so in order to do the transfer set up a joint bank account with someone you trust in Canada, transfer money to their account through online banking and then they can go to the bank and do the transfer to your account in Thailand. I deal with the RBC and Krungsri bank. I have done this several times. Transfer is typically in my Thai account the next day.

Edited December 16, 2015 by DJW

[ourdon]

I am a Canadian and a non-resident. I am retired and have lived in Thailand for several years. You can legally have one Canadian bank account in Canada as a non-resident. You can confirm this with a tax accountant in Canada. You can then keep your money in Canada and transfer it to Thailand as you need it. You can't transfer it through online banking if you are here in Thailand so in order to do the transfer set up a joint bank account with someone you trust in Canada, transfer money to their account through online banking and then they can go to the bank and do the transfer to your account in Thailand. I deal with the RBC and Krungsri bank. I have done this several times. Transfer is typically in my Thai account the next day.

A much better answer than mine.

[ouagadougou]

Hey okay, many thanks for the advice. I'll look into it.

Any reason why you don't use a debit card to access the cash?....suppose fees would be annoying.

Edited December 17, 2015 by ouagadougou