sanddawg1 Posted May 8, 2008 Report Share Posted May 8, 2008 10K and over is reported to the Reserve bank down here ...the tax man looks at everything .. Just bring $9999 cash in your pocket and don't make a big show of it. Go straight to the bank and open an account when you get to LOS no trans fees and you get onshore rate for sure. I've traveled with that much cash before no biggy!!! Link to comment Share on other sites More sharing options...
gobbledonk Posted May 8, 2008 Author Report Share Posted May 8, 2008 ust bring $9999 cash in your pocket and don't make a big show of it. Thats not a long-term strategy, and I dont think its entirely foolproof in the short-term. I'll be in the LOS for 6 months - knowing that I can transfer money from my NetBank account straight into a Thai account will help me sleep at night. That and a case of Beer Lao :smirk: Link to comment Share on other sites More sharing options...
robaus Posted May 8, 2008 Report Share Posted May 8, 2008 As others have said, don't buy Thai baht in Oz... you get a rip off rate. Here's a tip for Aussie residents, I mainly use Wizard Clear Advantage MasterCard. It's brilliant. http://www.wizard.com.au/creditcards/task.aspx?id=580. Absolutely no overseas charges!! and from examining my account I have been getting a better rate than even travellers cheques which pay a higher rate than cash. I have my money earning good interest in another Aussie bank, then use netbanking and Bpay every so often to top up my Wizard account, so it operates like a debit card and I never pay any overdue fees. No frequent flyer perks etc, but I don't care. Apply well in the advance, because they make you jump through a few ID verification hoops before you can use it overseas. Try it out by withdrawing more than A$500 in one hit at an Aussie ATM before you leave to make sure everything is running smoothly. They'll allow you to take out less than $500 overseas WITHOUT the verification, but if you stuff up... bugger, your card will be frozen. So get the verification before you leave! You can only withdraw max A$1,000 per day Two Thai bank sites which give local exchange rates: http://www.scb.co.th/html/exchange/bk-txtexchange.htm http://www.bangkokbank.com/Bangkok+Bank/Personal+Banking/Foreign+Exchange/FX+Rates/default.htm Link to comment Share on other sites More sharing options...
Torneyboy Posted May 8, 2008 Report Share Posted May 8, 2008 What i do as well is top up a credit card so it is in credit balance ( Visa) ..i can take out 2000 per day no fee as it is 'my' cash not the CC company Link to comment Share on other sites More sharing options...
gobbledonk Posted May 8, 2008 Author Report Share Posted May 8, 2008 i can take out 2000 per day no fee We talked about this at work, TB, as I also felt that my credit card hadnt been too heavily impacted by my trip, but surely they are charging you some sort of fee ?? Only time I've had a break on fees was when I had my home loan with Bendigo - will check their site to see if they list fees for overseas ATM use etc. Link to comment Share on other sites More sharing options...
Torneyboy Posted May 8, 2008 Report Share Posted May 8, 2008 Yeah ...shop around you will find some thing good .. Link to comment Share on other sites More sharing options...
.. Posted May 8, 2008 Report Share Posted May 8, 2008 And plan ahead. Most Thai banks will sit on your money for up to a week despite the transfer being almost immediate. That indeed used to be the case. But I have not noticed that in 6-7+ years now. I get xfers posted to my account the next day. Cheers, SD Link to comment Share on other sites More sharing options...
khun_khon_neua Posted May 8, 2008 Report Share Posted May 8, 2008 When I do a SWIFT transfer from US to Bangkok Bank the money shows up the one day, they do not hold it for any length of time. I send a fax my afternoon, US bank sends confirmation request e-mail that night (their morning), I send e-mail back that night (still their morning), they send money that day, money shows up my next afternoon. Probably only advantage of US being a day behind. The US bank fee is exorbitant at $50 a pop (so I donâ??t do this much), Bangkok Bank charges something like 500 baht. Don't know about K bank. Link to comment Share on other sites More sharing options...
CTO Posted May 8, 2008 Report Share Posted May 8, 2008 << 2. Krung Thai records the amount in Australian dollars, then sits on my money for about a week while they run the relevant checks>> NO - I get transfers about once every few weeks at least - hits the bank here and cleared within an hour or two! NOT a week Aussie ATM I had from Com Bank allowed 1500 a day withdrawal. Has it changed? Funny Thailand allows 60 000 a day now I think (Up fro 40 000) Link to comment Share on other sites More sharing options...
gobbledonk Posted May 8, 2008 Author Report Share Posted May 8, 2008 1500 dollars a day from an ATM ? I havent checked this for a while, but I was given to understand that the normal limit was more like 800 dollars per day. Still wouldnt get me anywhere near the money I want to bank, and I would get slugged the way I did on hols - almost $12 everytime I withdrew 10,000 baht. The IMT option is much better for a large amount, IMO - will let the board know how it works out. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.