Thailand

Ozskin · #1 09-03-2006, 16:13

I know for Australia the limit on bringing currency in is $10,000 AUD.
Just wondering if there is a similar limit as far as thailand is concerned?

Want to bring some cash over for a holiday and worked out I can save close to 20,000 baht by bringing cash and changing it in thailand (albeit) a nervous day carrying it around.

I would normally do the ATM withdrawl thing but 20K baht extra to spend on my trip is a little hard to ignore.

Coolhand · #2 09-03-2006, 16:30

1) Foreign currency

Foreign currencies can be brought into Thailand without limit. Any person receiving foreign currencies is required to surrender foreign currencies to an authorized bank or to deposit the same in a foreign currency account within 7 days from receipt, except foreigners temporarily staying in Thailand for not more than three months, foreign embassies, and international organizations.

Foreign exchange cover with authorized banks in Thailand is generally available where a genuine underlying current or capital transaction exists and not contrary to exchange control policy at the time.

2) Local Currency

There is no restriction on the amount of Thai currency that may be brought into the country. A person travelling to Thailand's bordering countries including Vietnam is allowed to take out local currency up to 500,000 baht and to other country up to 50,000 baht respectively without authorization.

Ozskin · #3 09-03-2006, 16:35

Thanks for your quick and informative response Coolhand!

stevem · #4 09-03-2006, 16:47

Quote:

Originally Posted by Ozskin

Want to bring some cash over for a holiday and worked out I can save close to 20,000 baht by bringing cash and changing it in thailand (albeit) a nervous day carrying it around.

Please explain!!!

Ozskin · #5 09-03-2006, 17:00

Quote:

Originally Posted by stevem

Please explain!!!

Not nervous about 20K baht, that is my overall saving by bringing in cash, will be carrying considerably more than that.

LivinLOS · #6 09-03-2006, 19:11

I dont see how unless your bringing multi 1000's.. I think thats the please explain Steve means..

For example, lets say theres a 2% differnce between your ATM costs and and the excahnge costs.. And your saving 20k.. That means 1% = 10k and so 100% = 1 million baht.

If your bringing in a mil I would open a Thai bank and transfer it in and get an even better rate..

Sirgezza · #7 09-03-2006, 20:22

Quote:

Originally Posted by stevem

Please explain!!!

Tax dodge?? Money laundering??? etc. etc.

Ozskin · #8 09-03-2006, 20:48

Gee ask a simple question...

No suspicious activity here. Just trying to get value for money for an upcoming trip, and im getting married and putting in a spouse visa . I have a thai bank account i can send to, trouble is to send money to thailand, it is calculated at exchange rates offered by australian banks, which are considerably lower.
Im not talking a huge amount here by some of your standards, just 10K AUD.

My bank offers me 26.6430 Baht currently
But i can get 28.3880 Baht currently at a thai bank changing cash (possibly more depending on where it is changed)

So i can save about 17500baht on the exchange and 1000 baht in fees.
Ok so 18500 baht may seem like chump change to a few of you, but its money id rather spend then give to a bank.

Again thanks for the advice. Didnt mean to arouse international suspicison

dizbuster · #9 09-03-2006, 20:57

If it was me I would take the cash and go straight to the bank to pay it in. I'm sure that they would have the facilities to accept AUD and then credit your THB account and it would also mean you get the better rate.

Plenty of nice things to spend that 18,500 baht on

Good luck

dizbuster · #10 09-03-2006, 21:03

I found this just now on a google search...

Currency restrictions
The import and export of local currency is limited to Bt50,000 per person or Bt100,000 per family holding one passport. The import and export of foreign currency is unlimited.

http://www.excite.co.uk/travel/guide...iland/Currency

I used "currency" "restrictions" and "Thailand" as my search words.

It would appear that there is only a restriction on the movement of local currency (Thai Baht) but you might want to do some more investigation just to be sure.

LivinLOS · #11 09-03-2006, 21:20

Quote:

Originally Posted by Ozskin

Gee ask a simple question...

No suspicious activity here. Just trying to get value for money for an upcoming trip, and im getting married and putting in a spouse visa . I have a thai bank account i can send to, trouble is to send money to thailand, it is calculated at exchange rates offered by australian banks, which are considerably lower.
Im not talking a huge amount here by some of your standards, just 10K AUD.

My bank offers me 26.6430 Baht currently
But i can get 28.3880 Baht currently at a thai bank changing cash (possibly more depending on where it is changed)

So i can save about 17500baht on the exchange and 1000 baht in fees.
Ok so 18500 baht may seem like chump change to a few of you, but its money id rather spend then give to a bank.

Again thanks for the advice. Didnt mean to arouse international suspicison

You can instruct the bank not to convert it and send Oz dollars.. At least every bank I have ever dealt with have had the ability to specify the currency being transmitted.. By not definig any currency they obviously do whats most benificial to them and rip you off..

Also with my bank I can call and for any transfer of a serious amount I can ask for a conversion / spot rate to be guaranteed.. If the rate is less fasvourable than the Thai rate I make it real clear to them thats not the best rate and move the base currency and let it be converted at the other end.. They often give you a better rate for larger amounts.

shark1963 · #12 09-03-2006, 23:21

as i know there is just one point you have to send the money to a bank if you want to use it for buying a house or condo. then you have to send the money to a bank with the notification that for what this money wil be used . Then you get a special form from the bank. Dont know what is in OZ but in germany you have to declare the moneyyou take with you out of the county if its more than about 15K euro not exactly sure when you leaving. To make sure this money is not money laundring. If you dont declare and they find it and you have no paper i.e. you did take it from your bank account, they will confiscate it first. Later you get it back if you bring the paper that this money is "white" . Maybe you should ask if its similiar in OZ. So maybe the problem is not how much you bring to Thailand , more to take it out of your homecountry

stevem · #13 10-03-2006, 03:32

Quote:

Originally Posted by Ozskin

Gee ask a simple question...

No suspicious activity here. Just trying to get value for money for an upcoming trip, and im getting married and putting in a spouse visa . I have a thai bank account i can send to, trouble is to send money to thailand, it is calculated at exchange rates offered by australian banks, which are considerably lower.
Im not talking a huge amount here by some of your standards, just 10K AUD.

My bank offers me 26.6430 Baht currently
But i can get 28.3880 Baht currently at a thai bank changing cash (possibly more depending on where it is changed)

So i can save about 17500baht on the exchange and 1000 baht in fees.
Ok so 18500 baht may seem like chump change to a few of you, but its money id rather spend then give to a bank.

Again thanks for the advice. Didnt mean to arouse international suspicison

I was just curious how you were going to save 20k?? I'm not sure I would feel too comfortable carrying that amount of cash around on me. Why not go into the bank here and have a chat, see what they can do for you. And 20k is worth the effort, no one would be willing to throw that away.

Ozskin · #14 10-03-2006, 04:22

Quote:

Originally Posted by LivinLOS

You can instruct the bank not to convert it and send Oz dollars.. At least every bank I have ever dealt with have had the ability to specify the currency being transmitted.. By not definig any currency they obviously do whats most benificial to them and rip you off..

Also with my bank I can call and for any transfer of a serious amount I can ask for a conversion / spot rate to be guaranteed.. If the rate is less fasvourable than the Thai rate I make it real clear to them thats not the best rate and move the base currency and let it be converted at the other end.. They often give you a better rate for larger amounts.

Sef, it appears i owe you a few beers! I didnt notice but it appears you are right and in my online banking i can select AUD to be transferred instead of THB which means the conversion should be done by the thai bank...
Fees would be 600bht to send from here and about 500bht to be received by the thai bank... not bad.. and definately would not be carrying the cash in that event... CHEERS!!!

marc26 · #15 10-03-2006, 04:29

Quote:

Originally Posted by Ozskin

Sef, it appears i owe you a few beers! I didnt notice but it appears you are right and in my online banking i can select AUD to be transferred instead of THB which means the conversion should be done by the thai bank...
Fees would be 600bht to send from here and about 500bht to be received by the thai bank... not bad.. and definately would not be carrying the cash in that event... CHEERS!!!

ive started doing this. my bank in Canada, RBC, gives the shittiest rates in the world. i often have to transfer mney to my bank in the states. so i go to a favorable money exchange i know, buy US dollars and bring that to my Canadian bank and have then transfer that instead of taking their rate

stevem · #16 10-03-2006, 04:30

I will also look at this next time I send money over as well, I always select send in THB.

LivinLOS · #17 10-03-2006, 09:05

Thai rates are really lots better...

I am guessing thats because THB is a marginal and low volume currency so has higher trade costs back there.. Where here the AUD is a high(ish) volume currency..

Coolhand · #18 10-03-2006, 10:17

Quote:

Originally Posted by dizbuster

I found this just now on a google search...

Currency restrictions
The import and export of local currency is limited to Bt50,000 per person or Bt100,000 per family holding one passport.

http://www.excite.co.uk/travel/guide...iland/Currency

This does not tally with the Bank of Thailand:
http://www.bot.or.th/bothomepage/Gen...ol/guide_t.htm

I don't know which is the more reliable source!

LivinLOS · #19 10-03-2006, 10:25

I have never heard of a 100k limit..

I am lead to believe it is any amount in and 500k out without a tor tor 3 form (which states it was brought in the country hence you have not made it here and owe taxes on it..)

dizbuster · #20 10-03-2006, 15:46

Quote:

Originally Posted by Coolhand

This does not tally with the Bank of Thailand:
http://www.bot.or.th/bothomepage/Gen...ol/guide_t.htm

I don't know which is the more reliable source!

It's always best to double check (as I stated) and I would assume your tongue was firmly in cheek when you say you didn't know which one is more reliable !!