Any problems depositing cash carried from Thailand into UK bank accounts?

[Mobi]

In these days of money laundering etc., I was wondering how easy it will be to carry, say, £10,000 from Thailand in cash and deposit it into a bank in the UK?

 

The money would be from the sales proceeds of assets disposed of prior to departure – mainly a car, but would the UK bank accept that story?

 

Even if you produce copies of sales documents, car transfer documents etc., they probably wouldn't give them much credit, especially as they would be in Thai.

 

Has anyone done something like this, and if so did the UK bank give you any hassles?

 

I guess the alternative is to stuff it under the mattress….   

[balo]

If it was me I  would just open a Thai bank account with an ATM card. Then back in England you can withdraw as much as possible , but you would lose some on exchange fees.  

 

 

 

[VBF]

6 hours ago, balo said:

If it was me I  would just open a Thai bank account with an ATM card. Then back in England you can withdraw as much as possible , but you would lose some on exchange fees.  

 

 

 

And you'd also be paying some hefty ATM charges. Example SCB will charge you 220 Baht per transaction overseas (I checked just last week). If you consider that you may only be able to withdraw 20,000 Baht per day, that is going to add up quickly.

Edited March 10, 2017 by VBF

[taiping]

Bitcoin. Transfer time and fees are minimal, but I haven't checked the buy/sell THB/BTC/GBP spreads. 

I have used Bitstamp to transfer BTC to my UK bank account.

To buy BTC in Thailand check out rates at https://localbitcoins.com/

 

[daveAustin]

Don't reckon they'd say anything for that amount. For all they know, you could have just sold your record collection. If there's any hassle, show them your UK-Thai money transfers (bank book) or evidence of wages paid here. Could always do a bank transfer. Thai banks want evidence of it coming in (usually a certificate), or wages paid again.

[elgenon]

Why not just deposit as much as you are allowed without it being reported? Keep doing this until you deposited it all.

Sale of a car can't be all that much.

[helloagain]

I would say no problem. Just dont deposit it all at once and say nothing. 

[domdom]

Hi

 

Best way, contact your bank and ask them which documents they need and until which amount they will be OK. They will surely ask you the documentation to prove where you got the cash from

This is how it works in my bank in France.. and for a bank transfer not for cash which will be more difficult

In France you cannot bring or take out more than 10,000 euros in cash

Have a nice week end

[theoldgit]

31 minutes ago, domdom said:

In France you cannot bring or take out more than 10,000 euros in cash

You must declare cash, cheques or drafts in excess of €10,000 (about £8,800) when you enter the UK.

https://www.gov.uk/uk-border-control/overview

[shaurene]

Hi Mobi

i am an author also. I am from New Zealand. Born in the UK.

just declare the mney leaving Thailand. You must declare above us$20,000 equivelant. When you enter UK declare it again. Very easy.  Get any receipts you have and translate them into Englsh. Do it the right way at the start.

Oh. The guy that mentioned Bitcoin. Forget it. Bitcoin just crashed on the markets.

Probably good time to buy it now but it could crash further. Good long term investment. Gold is predicted my the big money peole to increase by around 500% over the next couple yrs mybe sooner when the dollar crashes. Which is on the cards.

[12DrinkMore]

17 minutes ago, shaurene said:

Gold is predicted my the big money peole to increase by around 500% over the next couple yrs mybe sooner when the dollar crashes. Which is on the cards.

Been listening to Mr Schiff and his mates?

 

I can confidently predict that in the next couple of years

 

1. Gold will not increase by 500%.

 

2. The USD will not crash.

[Formaleins]

I thought there was a currency limit of 50K Baht imposed at the borders to prevent this sort of cash leaving the country?

[Bangkok Barry]

Once upon a long time ago I tried to exchange some Thai money at a bank in Hamburg. It wasn't possible as the bank had absolutely no idea what country the currency belonged to. Thai banknotes have only Thai script on them, and Germans, much to the surprise of many Thais I'm sure, don't read Thai. So that could be a problem for you. I suppose the bank could Google what Thai currency looks like.

[BWPattaya]

Check first how much Thai Bt you are allowed to take out of the country. Certainly £10,000 of Thai Bt is way too much. Better to change it in GBP here.

[BWPattaya]

Check first how much Thai Bt you are allowed to take out of the country. Certainly £10,000 of Thai Bt is way too much. Better to change it in GBP here.

[elgordo38]

5 hours ago, taiping said:

Bitcoin. Transfer time and fees are minimal, but I haven't checked the buy/sell THB/BTC/GBP spreads. 

I have used Bitstamp to transfer BTC to my UK bank account.

To buy BTC in Thailand check out rates at https://localbitcoins.com/

 

Interesting post. Would be nice to have this bit coin thing explained like "Bitcoin for Dummies" I keep looking for a Bitcoin mine as they say they are mined but can never find one. Any ideas as to where to start prospecting??

[elgordo38]

4 hours ago, daveAustin said:

Don't reckon they'd say anything for that amount. For all they know, you could have just sold your record collection. If there's any hassle, show them your UK-Thai money transfers (bank book) or evidence of wages paid here. Could always do a bank transfer. Thai banks want evidence of it coming in (usually a certificate), or wages paid again.

Just amazing the restrictions and hoops you must jump through when dealing with your own money. 

[elgordo38]

2 hours ago, 12DrinkMore said:

I can confidently predict that in the next couple of years

Pssst got any hot tips on the stock market and the whereabouts of the wayward monk? I have met a lot of people that are filled with confidence. Confidence can be like so many bubbles floating around today. Watch out for pins. For the sake of disclosure my confidence ebbs and flows at times.

[sandemara]

It seems nobody overseas wants Thai baht currency. Not a healthy sign for the economy despite continuing reassurances.  I mean, military authorities are financial experts no matter what they say, right?

[elgordo38]

Four times I tried to access the following Lifestyle Thai contestant crowned Miss International Queen in transgender pageantand was referred to this page Any problems depositing cash carried from Thailand into UK bank accounts? . Are elves at work here.????????? Gee I am really disappointed. 

[Bench499d]

Take the cash in Thai baht to a branch of Bangkok Bank. They will then issue you with a draft in GBP with NatWest emblazoned on it. Not sure if you have to have an account there for this or if the smaller mall branches will do it but you could ask. Also don't think they charge much if at all just the exchange fee which is better on Thailand than the UK.  This is how I've done it in the past. Also you'll have to check the declaration rules. Better than carrying cash and deposit the draft into your UK bank the usual way no questions asked.

[robertthebruce]

 

A few weeks back I took 25K back into London, said nothing , just walked through..

 

went  to my Bank in Central London, deposited the money, nothing was said...

 

 

 

 

easy Peasy...

[Jonmarleesco]

Without first reading other replies, I'm sure some have already pointed out that the limit is $10,000, or equivalent. And the dollar is not on a par with sterling just yet.

[Mysterion]

Some thai banks have branches and atms in major cities overseas.

 

Check with your bank, but it is normally free to withdraw the money from their overseas atm using their atm card.

[12DrinkMore]

3 hours ago, elgordo38 said:

Pssst got any hot tips on the stock market and the whereabouts of the wayward monk? I have met a lot of people that are filled with confidence. Confidence can be like so many bubbles floating around today. Watch out for pins. For the sake of disclosure my confidence ebbs and flows at times.

My crystal b0ll0k shattered a long time ago due to constant malfunctioning.

 

However, it is inconceivable that the USD is going to do a "Zimbabwe" in the next two years as it would mean that the whole world had lost confidence in the largest economy on the planet. Which is still growing and slooowly tightening monetary policy.

 

However I could modify the gold statement and say that in USD's it is not going to 5,000 an ounce in two years. However, if you measure it terms of other currencies, then it is possible. Against the GBP it is now a robust 40% up in one year.

Edited March 11, 2017 by 12DrinkMore

[SGD]

12 hours ago, VBF said:

And you'd also be paying some hefty ATM charges. Example SCB will charge you 220 Baht per transaction overseas (I checked just last week). If you consider that you may only be able to withdraw 20,000 Baht per day, that is going to add up quickly.

 

Sorry but you're way off base.

 

Bt200,000 per day, per account. 10 accounts is nearly £50,000 per day through the ATM network !

[SGD]

2 hours ago, Bench499d said:

Take the cash in Thai baht to a branch of Bangkok Bank. They will then issue you with a draft in GBP with NatWest emblazoned on it. Not sure if you have to have an account there for this or if the smaller mall branches will do it but you could ask. Also don't think they charge much if at all just the exchange fee which is better on Thailand than the UK.  This is how I've done it in the past. Also you'll have to check the declaration rules. Better than carrying cash and deposit the draft into your UK bank the usual way no questions asked.

 

You can also do this the other way and have Bangkok Bank in London (perhaps even online) do the heavy lifting and move your GBP to THB. 

 

I didn't know you could do the reverse so thanks for the heads up.

[VBF]

30 minutes ago, SGD said:

 

Sorry but you're way off base.

 

Bt200,000 per day, per account. 10 accounts is nearly £50,000 per day through the ATM network !

I think you misunderstand @SGD 

 

Last week I asked in SCB branch where I have my account.

Each overseas ATM withdrawal attracts a fee of 220 Baht - that is a definite.

 

The standard maximum amount you can withdraw is 20,000 Baht per day. Now I do realise that they can alter this on request but as I'm never likely to want to withdraw more than 20,000 in a day, I've kept mine as standard. I don't know by how much you can increase it - is 200,000 per day realistic?

 

You also need to consider that the ATM you use will have its limits too, thereby necessitating more transactions.

And I don't get why you're mentioning 10 accounts ?

Edited March 11, 2017 by VBF
Accuracy

[sometimewoodworker]

2 hours ago, robertthebruce said:

 

A few weeks back I took 25K back into London, said nothing , just walked through..

 

went  to my Bank in Central London, deposited the money, nothing was said...

 

 

 

 

easy Peasy...

Assuming you didn't declare it you would have had a problem at U.K. Customs if you had been stopped 

[elgordo38]

2 hours ago, 12DrinkMore said:

My crystal b0ll0k shattered a long time ago due to constant malfunctioning.

 

However, it is inconceivable that the USD is going to do a "Zimbabwe" in the next two years as it would mean that the whole world had lost confidence in the largest economy on the planet. Which is still growing and slooowly tightening monetary policy.

 

However I could modify the gold statement and say that in USD's it is not going to 5,000 an ounce in two years. However, if you measure it terms of other currencies, then it is possible. Against the GBP it is now a robust 40% up in one year.

Thanks for your courteous reply nice to know there are some gentlemen left on here. You do not hurl around insults like baboon etc. refreshing to say the least. Just finished with a rude one. With a 2 year time frame I think your safe. As rates climb the dollar will get stronger no doubt and it will hurt American businesses as they now seem to do most of their business now days overseas. When they holler Uncle you know its gone to far.  Lets rehash it in a couple years if we are still here. I will do a 20 baht bet on 5,000 greenbacks in 5 years. You and I were raised back when this kind of modus operendi would be considered stealing and a buck was a buck not a bank loan. Cheers.