Sir! Sir! Sir! I got a question!

[Daffnius Duck Mucker]

what exchange rates do they use to determine if you have over USD20,000 when departing from thailand.

where can we see these exchange rates so that we know for absolute certain at the time of departure what the rates are and so how much in USD equivalent we are deemed be carrying? these thing fluctuate wildly so we need to know this

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

see above for info

[sunnyjim5]

Most major currency exchange rates are quoted daily by The Bank of Thailand and all Thai retail Banks.

I would expect that the Customs Service would look up the daily quoted exchange rate from one of the above mentioned sources

The exchange rates tend to be pretty stable and do not "fluctuate wildly"

$20,000 equates to approx 694,000Bht at current exchange rates which is a bulky package of cash to carry around.

[lkv]

From your own posted link:

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.

[Daffnius Duck Mucker]

Most major currency exchange rates are quoted daily by The Bank of Thailand and all Thai retail Banks.

I would expect that the Customs Service would look up the daily quoted exchange rate from one of the above mentioned sources

The exchange rates tend to be pretty stable and do not "fluctuate wildly"

$20,000 equates to approx 694,000Bht at current exchange rates which is a bulky package of cash to carry around.

https://www.bot.or.th/english/statistics/financialmarkets/exchangerate/_layouts/application/exchangerate/exchangerate.aspx

assuming they use these rates it still only converts to baht. it doesnt tell you how much USD equivalent for malaysian ringit, or euro for example, you are carrying. euro fluctuates between 1.06 and 1.14 within the last months. this fluctuation can easily put you over or under.

if they are converting these to baht and then to USD using the buy sell rates at that page then we need to know this for sure not just "i expect" sorry cant risk confiscation of the cash with this flimsy info.

Edited March 23, 2016 by Daffnius Duck Mucker

[TacoHell]

Maybe just carry 20,000USD ?

Incredibly simple

Edited March 23, 2016 by TacoHell

[lkv]

If you're really so close to the limit go and ask Customs if you cannot cut a couple of grand from the amount to make sure you're under the limit.

I don't understand why you'd travel with the money though when you can easily transfer the money out via a bank but that's not really my business

Edited March 23, 2016 by lkv

[sunnyjim5]

Most major currency exchange rates are quoted daily by The Bank of Thailand and all Thai retail Banks.

I would expect that the Customs Service would look up the daily quoted exchange rate from one of the above mentioned sources

The exchange rates tend to be pretty stable and do not "fluctuate wildly"

$20,000 equates to approx 694,000Bht at current exchange rates which is a bulky package of cash to carry around.

https://www.bot.or.th/english/statistics/financialmarkets/exchangerate/_layouts/application/exchangerate/exchangerate.aspx

assuming they use these rates it still only converts to baht. it doesnt tell you how much USD equivalent for malaysian ringit, or euro for example, you are carrying. euro fluctuates between 1.06 and 1.14 within the last months. this fluctuation can easily put you over or under.

if they are converting these to baht and then to USD using the buy sell rates at that page then we need to know this for sure not just "i expect" sorry cant risk confiscation of the cash with this flimsy info.

Best you contact them for the exact detail.

"For further inquiry and information, you may contact the Customs Call Center at Tel. 1164 or the Customs Clinic at Tel. 02-667-7880-4, Fax. 02-667-7885, e-mail: [email protected]. Additional information may also be obtained from Customs ports of entry/exit. Please consult our telephone directory for a Customs office near you. The listing can be found under the “CONTACT US” section."

[Daffnius Duck Mucker]

Maybe just carry 20,000USD ?

Incredibly simple

not convenient or prudent to switch into USD then back to the original currency when you want to use it. lose to much of the double exchange

assuming just 1 percent loss, that is 200 dollars lost on USD 20000 but you are looking at closer to 5 percent depending on where you do the conversions.

[Daffnius Duck Mucker]

Most major currency exchange rates are quoted daily by The Bank of Thailand and all Thai retail Banks.

I would expect that the Customs Service would look up the daily quoted exchange rate from one of the above mentioned sources

The exchange rates tend to be pretty stable and do not "fluctuate wildly"

$20,000 equates to approx 694,000Bht at current exchange rates which is a bulky package of cash to carry around.

https://www.bot.or.th/english/statistics/financialmarkets/exchangerate/_layouts/application/exchangerate/exchangerate.aspx

assuming they use these rates it still only converts to baht. it doesnt tell you how much USD equivalent for malaysian ringit, or euro for example, you are carrying. euro fluctuates between 1.06 and 1.14 within the last months. this fluctuation can easily put you over or under.

if they are converting these to baht and then to USD using the buy sell rates at that page then we need to know this for sure not just "i expect" sorry cant risk confiscation of the cash with this flimsy info.

Best you contact them for the exact detail.

"For further inquiry and information, you may contact the Customs Call Center at Tel. 1164 or the Customs Clinic at Tel. 02-667-7880-4, Fax. 02-667-7885, e-mail: [email protected]. Additional information may also be obtained from Customs ports of entry/exit. Please consult our telephone directory for a Customs office near you. The listing can be found under the “CONTACT US” section."

this is thailand. go to any govt department and get someone to commit firmly on anything is impossible. been there done that already. complete waste of time.

[TacoHell]

Maybe just carry 20,000USD ?

Incredibly simple

not convenient or prudent to switch into USD then back to the original currency when you want to use it. lose to much of the double exchange

assuming just 1 percent loss, that is 200 dollars lost on USD 20000 but you are looking at closer to 5 percent depending on where you do the conversions.

So you are leaving Thailand with 20k usd in Thai Baht, Then you will take it somewhere where it will be useless, and return back to Thailand with said 20k usd in Thai Baht?

Ever heard of a bank?

Edited March 23, 2016 by TacoHell

[lkv]

Thai Baht has its own separate limit.

What currencies are you exactly talking about, OP?

[Daffnius Duck Mucker]

If you're really so close to the limit go and ask Customs if you cannot cut a couple of grand from the amount to make sure you're under the limit.

I don't understand why you'd travel with the money though when you can easily transfer the money out via a bank but that's not really my business

yes done the cut already but still dont trust som chai at the customs post to not pull some wild figure out of the air for the exchange rate and say look you are over and he walks away with the cash.

" easily transfer the money out via a bank " you obviously havent attempted this near impossible feat. via ATM AND YOU ONCE AGAIN GET STUNG IN IF ARE GOING BETWEEN non-major currencies eg baht to nz dollars i doubt you will get away without a 1000 dollar loss via atm and where i am going its even worse..

[Daffnius Duck Mucker]

Maybe just carry 20,000USD ?

Incredibly simple

not convenient or prudent to switch into USD then back to the original currency when you want to use it. lose to much of the double exchange

assuming just 1 percent loss, that is 200 dollars lost on USD 20000 but you are looking at closer to 5 percent depending on where you do the conversions.

So you are leaving Thailand with 20k usd in Thai Baht, Then you will take it somewhere where it will be useless, and return back to Thailand with said 20k usd in Thai Baht?

Ever heard of a bank?

ever hear of comprehension you obviously failed . taking euro out.

[twwy123]

Simply assume the worst-case scenario (pick a recent exchange rate, add some reasonable padding), and you'll be fine. Euro does not fluctuate that wildly in the short term.

If you have a large amount, splitting it among several passengers traveling with you (that you trust) might help. I know companies that do this with their employees.

Edited March 23, 2016 by twwy123

[TacoHell]

ever hear of comprehension you obviously failed . taking euro out.

Yes I failed. Considering you never said Euros, but thats aside from the point.

You can open a foreign currency account at Bangkok Bank.

Information required when sending funds abroad

To transfer funds overseas you will need the following information:

• The recipient’s account name, account number and address
• The name and address of the recipient’s bank
• The SWIFT address of the bank that they have an account with (if any)
• Supporting document (Thai citizens – A document stating the purpose of the fund transfer; Foreigners - A document stating the source of the income).

As far as fees

0.25% of the transfer value

(minimum 200 Baht, maximum 500 Baht)

You are faced with a maximum 500 Baht Fee.

But hey, <deleted> do I know

[Daffnius Duck Mucker]

Simply assume the worst-case scenario (pick a recent exchange rate, add some reasonable padding), and you'll be fine. Euro does not fluctuate that wildly in the short term.

If you have a large amount, splitting it among several passengers traveling with you (that you trust) might help. I know companies that do this with their employees.

reassurance is not what i am looking for, what i want is exactly how they do the calculation and where they get the figures from.

trying to go to sleep now will check again in the day light.

Edited March 23, 2016 by Daffnius Duck Mucker

[BritTim]

I do not think the process used by customs (should they bother to check) is exact. The following should be safe:

• On the day of departure, go to https://www.bot.or.th/english/statistics/financialmarkets/exchangerate/_layouts/application/exchangerate/exchangerate.aspx
• Use the quoted average buying rate to convert your foreign currencies into a notional baht figure (you could probably get away with the average of the transfer rate and buying rate, but I think you want to err on the side of caution.
• Divide your baht figure calculated above by the average weighted interbank exchange rate at the top of the page to get the amount in dollars

If still nervous, ensure at least 10,000 baht or so in in Thai currency. At the airport, go to the customs office before immigration with your calculations laid out on paper and ask them to verify the amount you are carrying is OK. In the event of being slightly over, drop the excess into a CDM.

[partington]

If this isn't a troll post it's totally baffling.

The customs link given merely tells you that if you are taking out or bringing in more than $20,000 dollars you must REPORT it. It does NOT say that you are NOT ALLOWED to carry more than this amount in or out, it just says you must REPORT IT when you reach or exceed it.

IT is not a limit, so going over it doesn't matter. It is just the smallest amount that triggers a need to tell customs that you are carrying it. They will not stop you.

So if this is a real enquiry from a one post wonder: just report it whenever you think you get near it. They will let you carry it out because it is not a TRANSPORTING limit , it is a REPORTING limit.

Edited March 23, 2016 by partington

[swampdonkey]

If this isn't a troll post it's totally baffling.

The customs link given merely tells you that if you are taking out or bringing in more than $20,000 dollars you must REPORT it. It does NOT say that you are NOT ALLOWED to carry more than this amount in or out, it just says you must REPORT IT when you reach or exceed it.

IT is not a limit, so going over it doesn't matter. It is just the smallest amount that triggers a need to tell customs that you are carrying it. They will not stop you.

So if this is a real enquiry from a one post wonder: just report it whenever you think you get near it. They will let you carry it out because it is not a TRANSPORTING limit , it is a REPORTING limit.

Yes, you just have to report the amount to customs.

Just the same as anywhere else in the world.

Sounds very much like a troll post

[ubonjoe]

Not visa related. Moved to the Business, Banking and etc forum.

[Naam]

If this isn't a troll post it's totally baffling.

The customs link given merely tells you that if you are taking out or bringing in more than $20,000 dollars you must REPORT it. It does NOT say that you are NOT ALLOWED to carry more than this amount in or out, it just says you must REPORT IT when you reach or exceed it.

IT is not a limit, so going over it doesn't matter. It is just the smallest amount that triggers a need to tell customs that you are carrying it. They will not stop you.

So if this is a real enquiry from a one post wonder: just report it whenever you think you get near it. They will let you carry it out because it is not a TRANSPORTING limit , it is a REPORTING limit.

Yes, you just have to report the amount to customs.

Just the same as anywhere else in the world.

Sounds very much like a troll post

it IS a troll post!

[TheCruncher]

ever hear of comprehension you obviously failed . taking euro out.

Yes I failed. Considering you never said Euros, but thats aside from the point.

You can open a foreign currency account at Bangkok Bank.

Information required when sending funds abroad

To transfer funds overseas you will need the following information:

• The recipient’s account name, account number and address
• The name and address of the recipient’s bank
• The SWIFT address of the bank that they have an account with (if any)
• Supporting document (Thai citizens – A document stating the purpose of the fund transfer; Foreigners - A document stating the source of the income).

As far as fees

0.25% of the transfer value

(minimum 200 Baht, maximum 500 Baht)

You are faced with a maximum 500 Baht Fee.

But hey, <deleted> do I know

Indeed, &lt;deleted&gt; do you know, because you can't transfer from a foreign currency to an overseas account.

It has to be first exchanged to Thai Baht, and if you want to transfer it overseas you also have to proof you brought it inside Thailand first legally.

By the way the transfer fees you quote are for inbound transfers, not outbound.

[Daffnius Duck Mucker]

re: troll post

experience has taught me that the best way to deal with these people who have sway over you life liberty and fortune is to not deal with them at all-- go to extreme lengths to avoid contact with them and to be absolutely certain you know exactly where the line in the sand that shall not be crossed is located.

want to walk past them knowing for sure that they cant pull you up.

these laws are designed NOT for YOUR protection but to safe guard the vested interest and to enrich those who are charged with enforcing them.

[partington]

re: troll post

experience has taught me that the best way to deal with these people who have sway over you life liberty and fortune is to not deal with them at all-- go to extreme lengths to avoid contact with them and to be absolutely certain you know exactly where the line in the sand that shall not be crossed is located.

want to walk past them knowing for sure that they cant pull you up.

these laws are designed NOT for YOUR protection but to safe guard the vested interest and to enrich those who are charged with enforcing them.

Well you proved it now. On ignore.

[TPI]

Simply assume the worst-case scenario (pick a recent exchange rate, add some reasonable padding), and you'll be fine. Euro does not fluctuate that wildly in the short term.

If you have a large amount, splitting it among several passengers traveling with you (that you trust) might help. I know companies that do this with their employees.

reassurance is not what i am looking for, what i want is exactly how they do the calculation and where they get the figures from.

trying to go to sleep now will check again in the day light.

Do try to keep your hands off both "willies"......you couldn't be that stupid playing with one!!

[IMA_FARANG]

what exchange rates do they use to determine if you have over USD20,000 when departing from thailand.

-------------------------

Answer.....if I had U.S. $20,000 to carry aroundI would not be leaving Thailand

[Daffnius Duck Mucker]

https://www.bot.or.th/English/FinancialMarkets/ForeignExchangeRegulations/FXRegulation/Pages/default.aspx

https://www.bot.or.th/Thai/FIPCS/Documents/FOG/2497/EngPDF/24971501.pdf

https://www.bot.or.th/English/AboutBOT/LawsAndRegulations/SiteAssets/Law_E35_Exchange.pdf

Edited March 30, 2016 by Daffnius Duck Mucker

[Daffnius Duck Mucker]

latest from the moving target

"2. Local Currency

There is no restriction on the amount of Thai baht bank notes that may be brought into the country.

A person traveling to Vietnam, the People's Republic of China (only Yunnan province) and Thailand's bordering countries is allowed to take out up to THB 2,000,000. Taking out Thai Baht bank notes in an amount exceeding THB 450,000 requires declaration to a Customs Officer.

A person traveling to other countries is allowed up to THB 50,000."

https://www.bot.or.th/English/FinancialMarkets/ForeignExchangeRegulations/FXRegulation/Pages/default.aspx

still not clear if you can take out 20000 usd plus the local currency. or if the local currency is included in the 20000 usd.

i read it as 19999 usd plus 449999 baht and you dont have to speak to the customs officer when going to malaysia

Edited March 31, 2016 by Daffnius Duck Mucker

[Daffnius Duck Mucker]

may have to report on malaysian side of the border on entry (and on exit) havent checked

[Daffnius Duck Mucker]

this savage despicable deed has been executed and at no time were BOT rules breached according to any interpretation given. no voices were raised and no untoward enrichment occurred any where.

over and out

Daffnius Duck Mucker