Buying foreign currency (GBP) in Hua Hin

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HHTel
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Re: Buying foreign currency (GBP) in Hua Hin

Post by HHTel »

buksida wrote:Dont think there is a shortage of them in HH - its just their rates vary so much and it isnt easy getting one that will give you the actual rate without a spread.

Anyone know how much foreign currency you can carry out of Thailand?
Foreign Currency

The travelers bringing foreign currency more than USD 20,000 or its equivalent into or out of Thailand are required to make a report to Customs. This report is required by the “Ministerial Regulation (No. 25) B.E. 2530 issued under the Authority of the Currency Exchange Control Act B.E. 2485 and relevant regulations.

The Regulation and Notification require that the travelers bringing foreign currency into or out of Thailand, both a bank note and a coin, with the total aggregate value exceeding USD 20,000 or its equivalent, must report it to a Customs officer at a port/airport of entry or exit, using the given Foreign Currency Declaration Form. The travelers must complete, sign, and submit the Form to report their foreign currency where such currency are physically carried by a person arriving in or departing from Thailand, or where they form part of the person’s baggage and that person and his or her baggage are being carried on board the same conveyance across the border.

A person who reports currency has to answer truthfully any questions that a border services officer asks about the information required for the report.

Thai Currency

The amount of 50,000 baht or more in Thai currency must be reported on departure, except those traveling to Lao PDR., Myanmar, Cambodia, Malaysia, and Vietnam are allowed to take out Thai currency not exceeding 500,000 baht.
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buksida
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Re: Buying foreign currency (GBP) in Hua Hin

Post by buksida »

So if it is below $20k (13.5k GBP) it doesn't have to be declared?
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Re: Buying foreign currency (GBP) in Hua Hin

Post by PeteC »

No declaration needed if under 20K USD or equiv in or out. On an inbound bank transfer if more, the bank takes care of the needed form but sometimes they don't even bother, or they just file it without asking questions about what the money is for. Pete :cheers:
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Re: Buying foreign currency (GBP) in Hua Hin

Post by HHTel »

That regulation is for moving 'hard cash' across borders. Electronic transfers are completely different.
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Re: Buying foreign currency (GBP) in Hua Hin

Post by Homer »

malcolminthemiddle wrote:There's a branch between Petchakasem 106 and 108.

http://superrich-huahin.com/site/location.html
Not only a different company, theIr Web site says:

>Office open : Monday-Saturday, Holidays and Sunday
(Buy foreign currencies only) 9.00 AM - 6.00 PM
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Re: Buying foreign currency (GBP) in Hua Hin

Post by Homer »

cookie102 wrote:We have used 12 Victory on several occasions but the rates you get in Hua Hin are not the same as their Web site and are always a bit lower. However they are always better than the banks by a few baht.
Used them for what? Buying Baht or buying GBP?
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Re: Buying foreign currency (GBP) in Hua Hin

Post by cookie102 »

Buying Baht
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Re: Buying foreign currency (GBP) in Hua Hin

Post by J.J.B. »

buksida wrote:So if it is below $20k (13.5k GBP) it doesn't have to be declared?
I'm presuming you've already thought about this but what about some form of peer-to-peer exchange with people you know? Let's say they have £5k in the UK they want to get to Thailand and you have 250k THB you want to get to the UK, couldn't you just swap? Agree a good rate through something like xe.com, which you already reference, and make a deal. Nobody's making a profit or taking a fee so there's no tax to declare as far as I can work out. For small amounts it shouldn't attract the attention of any authorities and provided you can show a legitimate source of the funds, if ever required, it's nobody else's business. :thumb:

I used to use a commercial service for such exchange but they closed their Thai enterprise a couple of years ago when it became too onerous to keep it open due to the growing burden of paperwork. I still think it's a good and workable idea in principle provided nobody is trying to make a profit from it.
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buksida
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Re: Buying foreign currency (GBP) in Hua Hin

Post by buksida »

J.J.B. wrote: I'm presuming you've already thought about this but what about some form of peer-to-peer exchange with people you know? Let's say they have £5k in the UK they want to get to Thailand and you have 250k THB you want to get to the UK, couldn't you just swap? Agree a good rate through something like xe.com, which you already reference, and make a deal. Nobody's making a profit or taking a fee so there's no tax to declare as far as I can work out.
This is the ideal solution and I've done it before ... but nobody currently seems to trust it. :banghead:
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Re: Buying foreign currency (GBP) in Hua Hin

Post by buksida »

Had no problem buying GBP in Market Village - the best rate was at the yellow bank (Krungsri) on the third floor.
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Re: Buying foreign currency (GBP) in Hua Hin

Post by StevePIraq »

I have always obtained my foreign currency for travel from Kasikorn Bank on Phetkasem Road, they have always been excellent until today.
I dropped into Kasikorn to get USD for a trip, first problem was the teller could speak almost no English, I was passed to no less than 4 representatives and finally told if you want foreign currency I must go to Market Village. My Thai wife then stepped in and in Thai tore another hole into the reps ass finally saying she will tell all Farang not to bank with Kasikorn, the response in Thai was "Up to You".

We then went to Market Village Kasikorn I was told it will take one week to order US$2,000. I withdrew Baht and immediately changed to USD at the Currency exchange booth on the lower level who gave excellent service.

Normal F... UpThailand
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Re: Buying foreign currency (GBP) in Hua Hin

Post by Big Boy »

Big Boy wrote:No, this place looks huge. I need to go to the ENT doctor on Soi 55/1 every 3 months, and always find myself looking at it and wondering why nobody has ever mentioned it - I assume I'm the only one who has even noticed it. It's a large building offering good rates (don't know whether actually good or bad), and certainly worth investigating. I often wonder if its a Chinese money changer that I've read about so often.

I would guess rates should be good, else it wouldn't survive.
I've been to the doc this morning, so took the opportunity to take a photo.
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So, has anybody tried it?
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