Carrying sterling out of the UK

[Skygod]

Whilst it may be true that there is no legal limit on the amount of cash that you can take out of the country nor any requirement to declare taking the cash, if you are carrying more than £1000, you can be asked by HM Customs to prove where the money came from. If the officer is not satisfied with your explanation of where it came from or what it is to be used for, the money can be confiscated and you will then have to prove to the authorities that it is yours and that it was not going to be used for any illegal transaction before getting it back.

 

It has been suggested in another thread that taking a bank statement with you will be sufficient to prove this. When I asked the helpline about this, I was told that it is solely at the discretion of the officer on the day and that there is no specific document that will provide the proof that they require. An officer simply declaring that in his opinion he believed that the money was to be used for illegal purposes is apparently sufficient for confiscation.

 

The rules on carrying cash out of the UK are to be changed in June when ian additional regulation comes into force whereby it will be mandatory to declare taking more than the £ equivalent of 10,000 Euros out of the country.

 

 

So; be nice to the Customs man on departure as well as smiling sweetly on your return

[tonyric]

The US has had a similar law on the books for a LONG time. Anything over $10,000.00 must be declared. It is required. It is not illegal to take it, the law here is just to cut down on money laundering.

[roamer]

Customs and revenue have been getting more paranoid about what they regard as large amounts of cash for some time now.

If as a VAT registered business you accept cash payment/s in excess of £10,000 you need to have stringent proof of ID of person paying you.

Wouldn`t surprise me if that limit will be lowered.

Edited March 9, 2007 by roamer

[Captain Murgatroyd]

Why take cash?

Travellers cheques get a better rate than GBP's,

and they are insured!

Murgatroyd

[yamabthere]

I had to take £10,000 out of Thailand a few years back, due to the Tor Tor Sam not matching the amount I sold my condo for.

 

I had no problems even exchange the Baht at the airport.

 

However when you then deposit the money into a uk bank they will ask where it has come from and I believe they report amounts over £1,000 to the tax office? They are checking that you are not involved in money laudering or other Tax evasion!

[codfish]

Its a very bad idea to travel with largh amounts of cash. Its against the law and there are lots of stories about people losing all there money. ATM works for me.

[Newton]

Sort of off the topic .. there is a new banking code just come out in England . if you send money abroad from England to say a thai lady or who ever , they must get an iban number[international bank number]thats from all U k banks now. The thing is that ok england is very swift in implacating things like this ,but Thailand is a third world country and doe, s not move as quickly as the u k .you could have problems sending money to your friend in were ever land if they cannot get one . i would check with your banks, could save a lot of hassel

[kw59]

Why take cash?

Travellers cheques get a better rate than GBP's,

and they are insured!

Murgatroyd

 

 

That's correct, same with USD checks,

the problem is you'll be standing at the

money exchange booth for a long time before they hand

over the baht.

 

 

A big hassle last 2 times I used them, I carry $500USD

in TC's for an emergency backup nowadays.

 

Counterfeit checks are a very big problem these days.

[yamabthere]

Its a very bad idea to travel with largh amounts of cash. Its against the law and there are lots of stories about people losing all there money. ATM works for me.

 

I agree bad idea and very risky but unless you have a Tor Tor Sam the only way to get money out of Thailand is converted to sterling and by hand, unless someone knows better.

 

Why is it against the law to carry large amounts of money? As already said the current position of UK imigration is there is no limit?

[codfish]

I agree bad idea and very risky but unless you have a Tor Tor Sam the only way to get money out of Thailand is converted to sterling and by hand, unless someone knows better.

 

Why is it against the law to carry large amounts of money? As already said the current position of UK imigration is there is no limit?

 

Every country has different rules about how much money you can take out of the country, For tax reasons I think.

 

 

For me I don't like to carry large amounts of money with me. I use my ATM

[zoomwave2003]

The US has had a similar law on the books for a LONG time. Anything over $10,000.00 must be declared. It is required. It is not illegal to take it, the law here is just to cut down on money laundering.

 

 

same with Aussie $$$ according to the inbound immigration cards - have to declare AUD$10,000 or more (not that it has been a problem for me so far ;-) ).

 

Also slightly off topic - if you are coming from the UK it is easier to exchange Bank or England Pound than Bank of Scotland - found this out the hard way, was living in Bonnie McScotland and traveling through the land of smiles - went to cash out my McPounds and the exchange guys refused to change them even though they are the same as bank of England currency.