Bringing money from the UK question

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fredwilliams
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Bringing money from the UK question

Post by fredwilliams » January 18, 2020, 3:30 am

A mate from the UK is coming next week.

What is the best option for him re: bringing at least £5k from the UK for at least 3 months in UT?

Example: traveler's cheques, bank transfer, etc., etc.



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Stantheman
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Re: Bringing money from the UK question

Post by Stantheman » January 18, 2020, 5:22 am

fredwilliams wrote:
January 18, 2020, 3:30 am
A mate from the UK is coming next week.

What is the best option for him re: bringing at least £5k from the UK for at least 3 months in UT?

Example: traveler's cheques, bank transfer, etc., etc.
Not sure about all ways, I do bank transfers. Do know that traveler's checks are sometimes hard to cash plus they get poor exchange rate. Heard some banks even charge a fee to cash.

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Wee Jimmy
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Re: Bringing money from the UK question

Post by Wee Jimmy » January 18, 2020, 7:08 am

Stantheman wrote:
January 18, 2020, 5:22 am
fredwilliams wrote:
January 18, 2020, 3:30 am
A mate from the UK is coming next week.

What is the best option for him re: bringing at least £5k from the UK for at least 3 months in UT?

Example: traveler's cheques, bank transfer, etc., etc.
Not sure about all ways, I do bank transfers. Do know that traveler's checks are sometimes hard to cash plus they get poor exchange rate. Heard some banks even charge a fee to cash.

Definitely money transfer is the best method.

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Old Grumpy
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Re: Bringing money from the UK question

Post by Old Grumpy » January 18, 2020, 7:15 am

fredwilliams wrote:
January 18, 2020, 3:30 am
A mate from the UK is coming next week.

What is the best option for him re: bringing at least £5k from the UK for at least 3 months in UT?

Example: traveler's cheques, bank transfer, etc., etc.
When my family visit me they pay pounds into my Transferwise acct and I change it into baht as they need it, if there is any surplus left at the end I just pay them the pounds back into their acct, easy and not expensive , quick too.
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BillaRickaDickay
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Re: Bringing money from the UK question

Post by BillaRickaDickay » January 18, 2020, 7:25 am

Bring Cash, exchange it at the Gold Shop (advertised at the top of Udonmaps home page) higher rate given for 50 pound notes, make sure the notes are clean, no writing or tears, No Fees, Very good rates.
I am often travelling back and forth between UK and Thailand, I have found cash to be the best just be careful where you keep it, not a good idea if he intends to carry it on his person for 60days.
As far as i am aware, all transfers incur fees and you need a Thai bank account unless you use WU etc where they charge a fee and give poor rates.
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747man
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Re: Bringing money from the UK question

Post by 747man » January 18, 2020, 11:18 am

And IF They bring Cash, Remember THEY have to DECLARE Anything Over 1,000 GBP To U.K Customs at the Airport,Or IF Anymore the have to PROVE Where the money came from ie; Bank Account !!

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Re: Bringing money from the UK question

Post by Doodoo » January 18, 2020, 11:25 am

Here is the link for removing cash from the UK

https://www.gov.uk/bringing-cash-into-uk

"If the UK leaves the EU without a deal, you’ll need to declare cash of £10,000 or more (or the equivalent in another currency) up to 72 hours before arriving in the UK."

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BillaRickaDickay
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Re: Bringing money from the UK question

Post by BillaRickaDickay » January 18, 2020, 1:50 pm

747man wrote:
January 18, 2020, 11:18 am
And IF They bring Cash, Remember THEY have to DECLARE Anything Over 1,000 GBP To U.K Customs at the Airport,Or IF Anymore the have to PROVE Where the money came from ie; Bank Account !!
I think you will find the amount of cash at this time is 10,000 Euros or equivalent in sterling allowed to take out of the UK to a non EU country, without declaration.
The amount of cash allowed into Thailand is 20000 Dollars or equivalent, without declaration.
He's got his little y-fronts and he's got his little vest, Chaz Jankel, 1998. Mash it up Harry.

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Earnest
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Re: Bringing money from the UK question

Post by Earnest » January 18, 2020, 5:18 pm

Old Grumpy wrote:
January 18, 2020, 7:15 am
When my family visit me they pay pounds into my Transferwise acct and I change it into baht as they need it...
We do that but also bring across a wedge of pinkies too that we exchange at a gold shop in town.
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mally
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Re: Bringing money from the UK question

Post by mally » January 18, 2020, 5:25 pm

I always bring cash from the UK, but be aware, I was stopped at Manchester Airport when a drug dog picked me out.
The dogs can also smell cash ! (A bit like my TGF ! ) .
I had £3000, and they wanted to know where I had got it from. They were OK as I am still working, but they did do a background check on me, and told me that in future to bring a bank withdrawal slip (or ATM receipts) when carrying cash out of the UK. (They said it was to stop Money Laundering).

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Earnest
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Re: Bringing money from the UK question

Post by Earnest » January 18, 2020, 5:43 pm

That's a good heads up, thank you.

It seems HMG is hot on winding up money laundering these days.
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fredwilliams
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Re: Bringing money from the UK question

Post by fredwilliams » January 18, 2020, 6:26 pm

Will GBP in Transferwise be hit when the pound crashes on Jan 31 (Brexit)?

Or does it just get converted straight into THB?

And can circa £5k be transferred from a Nationwide a/c into Transferwise, please?
Last edited by fredwilliams on January 18, 2020, 6:45 pm, edited 1 time in total.

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Earnest
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Re: Bringing money from the UK question

Post by Earnest » January 18, 2020, 6:39 pm

That is worth thinking about for the likes of me as I'm coming over on an occasional visit soon.
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747man
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Re: Bringing money from the UK question

Post by 747man » January 18, 2020, 7:11 pm

fredwilliams wrote:
January 18, 2020, 6:26 pm
Will GBP in Transferwise be hit when the pound crashes on Jan 31 (Brexit)?

Or does it just get converted straight into THB?

And can circa £5k be transferred from a Nationwide a/c into Transferwise, please?
Fred, Who says it's Gonna CRASH,Do you have inside information ?? [-X [-X

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747man
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Re: Bringing money from the UK question

Post by 747man » January 18, 2020, 7:15 pm

BillaRickaDickay wrote:
January 18, 2020, 1:50 pm
747man wrote:
January 18, 2020, 11:18 am
And IF They bring Cash, Remember THEY have to DECLARE Anything Over 1,000 GBP To U.K Customs at the Airport,Or IF Anymore the have to PROVE Where the money came from ie; Bank Account !!
I think you will find the amount of cash at this time is 10,000 Euros or equivalent in sterling allowed to take out of the UK to a non EU country, without declaration.
The amount of cash allowed into Thailand is 20000 Dollars or equivalent, without declaration.
Well it's a Long time since I Did it,But I Was Stopped at Heathrow & Asked Where Did I Get My Cash from ( I Did have MORE than the 1k But I was O.K as I Had Bank Statements to prove it was Legit.....

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arjay
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Re: Bringing money from the UK question

Post by arjay » January 21, 2020, 3:45 am

From a Google search:
14 Feb 2018 - If you're travelling to a non-EU country from the UK, you must declare cash of €10,000 or more, or the equivalent sum in pounds. This rule applies to cheques and bankers' drafts, as well as notes and coins. You can use the HMRC form C9011 to declare cash, or you can get a copy at the airport or port.

pipadoo
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Re: Bringing money from the UK question

Post by pipadoo » January 21, 2020, 9:28 am

What about a credit card(s) with limit(s) exceeding £10k would I have to declare that/ them ?

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Re: Bringing money from the UK question

Post by Doodoo » January 21, 2020, 9:35 am

What about a credit card(s) with limit(s) exceeding £10k would I have to declare that/ them ?


NOPE

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Re: Bringing money from the UK question

Post by tamada » January 21, 2020, 1:49 pm

£5000 is bugger all when it comes to any nation's anti-money laundering or Customs regulations. I recommend he bring it in cash. New bills are always preferred so he may have more hassle ordering them from his local bank than he will transporting it to or spending it here.

Back in the heady days when the £ was around 70 baht, I would bring in wedges of £10,000 in crispy new 20's. The one time I asked for 50's to reduce the bulk, it took a few days extra effort at RBS to get the cash as well as raising eyebrows at Bangkok Bank on exchange only because they'd never seen them before!

I bought myself a money belt so that I was more closely attached to the cash while traveling and only had to watch it like a hawk when I took it off to pass through the scanner at flight security screening. Those new hands-up plastic box type body scanners will detect the money bag if you try and 'smuggle' it through security.

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Re: Bringing money from the UK question

Post by sometimewoodworker » January 21, 2020, 3:32 pm

fredwilliams wrote:
January 18, 2020, 6:26 pm
Will GBP in Transferwise be hit when the pound crashes on Jan 31 (Brexit)?

Or does it just get converted straight into THB?

And can circa £5k be transferred from a Nationwide a/c into Transferwise, please?
If you have a borderless account with TransferWise you can pay into it in many currencies, £ is one, you can then choose to hold it in Sterling or exchange it into ฿ and hold it in Baht then transfer the Baht into a Thai account whenever you like.

If you don’t have a borderless account you can not hold the money within TransferWise and have to transfer it directly into a Thai account. This usually takes a couple of days but could be a little longer if weekends, bank holidays or national holidays get in the way.

There is no problem with a £5,000 transfer Nationwide to TW specially if you have online banking, it is virtually instant.
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