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Best rate? ATM or stack of cash


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Well... I figure I will be spending about $30k (US) over the course of the trip. Thought about the stack of cash and just put it in the hotel safe at the Oriental. Surly they can handle that right? Esp if I give them two months notice? I still have 60 days

 

 

Would like to be there when you walk up to the Red Channel and show the agent the $30k in cash and tell him you want to declare it. I'm sure people do that all the time and they will know what to do...

 

TH

 

Thai Customs

For Foreign currency, any person who brings or takes and aggregate amount of foreign currency exceeding USD 20,000 or its equivalent out of or into the Kingdom of Thailand shall declare such amount of foreign currency to Customs. Failure to declare or make false declaration is a criminal offence.

 

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Well... I figure I will be spending about $30k (US) over the course of the trip. Thought about the stack of cash and just put it in the hotel safe at the Oriental. Surly they can handle that right? Esp if I give them two months notice? I still have 60 days

 

 

Would like to be there when you walk up to the Red Channel and show the agent the $30k in cash and tell him you want to declare it. I'm sure people do that all the time and they will know what to do...

 

TH

 

Thai Customs

For Foreign currency' date=' any person who brings or takes and aggregate amount of foreign currency exceeding USD 20,000 or its equivalent out of or into the Kingdom of Thailand shall declare such amount of foreign currency to Customs. Failure to declare or make false declaration is a criminal offence. [/i']

Penalty, confiscation of deniro :beer:

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Ya, it is a sad rate (0.62% right now), but I get it quarterly and have since the 2001 account opening of that one, looking at my account book. Plus online & telephone banking at no charge. :dunno:

 

YMMV.

 

Cheers,

LK

 

Better or similar rate to what u get in the U.S. now. I had an account eons ago at BKK Bank (Bangkopi branch/Suk). Seems to be they deducted "income tax" or some such from the interest paid. Still true?

 

HH

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You sure? I got most of it collected now. All new bills. You know if you ask them they will give them to you in number order!! Shit's heavy...

 

Aside from the "motherfucker" part, Prekaho is right about some Thai bank employees raising the bar when it comes to being anal about the condition of U.S. currency. I remember plunking down 5 grand in 100's and having about 10 rejected. Have no idea why. (Took them to other money changing kiosks and had no problem.) But just too many wrinkles or a small tear can throw some changers into panic. LOL. In Cambo, on the other hand, those bills have been handed around since 'nam, I'm convinced.

 

For a 3 week trip, I usually bring along a few grand in 100's, a few 50's and a few 20's. Cash is king...never forget that. :content: However, I do pull a lot from the ATM's, though not as much as in the past (since most Thai banks are hitting you for 150 baht per transaction and my bank charges $5 on the U.S. side also (minimum). )

 

I don't think the difference in exchange rate (cash v. ATM) is worth worrying about, unless you're talking mid-5 figures or one big transaction. And if I gotta sweat the equivalent of a beer in a go-go, I don't have any business making a trip. 5555555555555

 

HH

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Would like to be there when you walk up to the Red Channel and show the agent the $30k in cash and tell him you want to declare it. I'm sure people do that all the time and they will know what to do...

 

TH

 

Thai Customs

For Foreign currency, any person who brings or takes and aggregate amount of foreign currency exceeding USD 20,000 or its equivalent out of or into the Kingdom of Thailand shall declare such amount of foreign currency to Customs. Failure to declare or make false declaration is a criminal offence.

 

similar happens if you transfer a higher amount from your foreign bank to your bank account in Thailand. However in this case your bank calls YOU for some background information, as THEY have to declare it.

 

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I use cash and ATM.

 

But question about ATM fees.

 

Don't both the Thai bank ATM and the farang home bank ATM charge fee?

 

I think I got a memo from one of my farang banks that states a double fee if not using one of their ATM's (the local farang ATM).

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