Currency Exchange in Udon?

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2000VIPERGTS
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Currency Exchange in Udon?

Post by 2000VIPERGTS » April 8, 2011, 12:13 am

semperfiguy wrote:Thanks for the heads up, my response would be the thais would need to bring friends. I am 42, but a well honed fighter and in terrific shape and scrap with the best. The fact that I look like I can curl the average Thai guy also keeps the buggers away, but as a jarhead you can see who will be ready and not as you look into their eyes so this far 15 countries and in rough areas nothing as yet. Even the Presidential Rolex on my wrist doesn't get my robbed as yet, but I know eventually it will be attempted :mrgreen: I have a business and cash cash is individual, I can't type beyond that, but suffice to say that I am asking about undocumented exchanges, for research of course \:D/ Learning the ways of Thailand more and more, but like reading more than posting thus far.
Gary, you remind me too much of myself...full of piss and vinegar at your age, traveled 19 countries and ran with the best of them. I was a Dr. Jekyll and Mr. Hyde personality...by day running with the big dogs doing multi-million dollar deals, but by night I practically lived in the seedy red light districts around Asia. Wore the Rolex Presidential Day/Date everywhere I went, but oddly enough never got tapped for it overseas; however, lost two to black prostitutes down in Houston, TX. So take it from a guy whose been there and done that...sooner or later being too flashy will catch up with you, and you may not be as blessed as I was to come away from it with my life. The bad boys and girls are much worse now than they were in the late '70's when I started high rolling. They're much bolder and cold hearted, and life is very cheap in this part of the world now. I learned a great lesson back in the early '80's from one of the wealthiest Chinese businessmen in the Philippines. I picked him up at his office and escorted him to my chauffeur driven mercedes wearing my fancy watch, $500 lizzard skin shoes and a $1500 brief case made from 8 baby alligators. He told me what a fool I was for being so ostentatious, and he encouraged me to tone it down a little bit if I wanted to survive my stint in Manila. When I dropped him back off in front of his office he told me that the truly wealthy people have no need to flaunt it...as he got into his older model Toyota Celica and drove off. Funny how I couldn't figure that one out on my own, but I was blinded by a real need to impress people to hide my own insecurities. Three broken marriages and a huge business failure later I finally got my head out of the clouds. So, take a hint as I did from individual Solomon, the wisest and weathiest man who has ever lived:

Proverbs 16:17-19
17 The highway of the upright avoids evil;
those who guard their ways preserve their lives.

18 Pride goes before destruction,
a haughty spirit before a fall.

19 Better to be lowly in spirit along with the oppressed
than to share plunder with the proud.

Not being critical my friend...just want to help! God Bless and stay safe.[/quote]
Understand and I have been to the temple and seen Hiram's body too. The Rolex I wanted when I did not have money, and for me it is security as it is mobile currency that I needed nearly once in my life to save someone from disaster in a pinch. I also love it and being frugal, I bought it used many years ago. The research I am asking about is not to be flashy, but to see how much and frequency for research purposes of course :lol: Since I am SERIOUSLY looking at moving to Udon area, in the country and renting a house and getting married I will need to know the ins and outs. If anyone knows about places or the ins and outs of this, please PM me or I would be happy as can be to talk landline on my dime (or Skype is good too under the name Gementerprises). Heading to the gym so I can ward off the few bad Thai folk as my 7.62 x .39 will not be there with me :roll:



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semperfiguy
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Currency Exchange in Udon?

Post by semperfiguy » April 8, 2011, 10:50 am

Thought this might help!

Bank Reporting Requirement for Thailand Banks:

A key provision of the new law requires banks and financial institutions to report all cash transactions over two million Thai Baht (about US$46,000). Property transactions involving cash in excess of five million Baht (about US$115,000) must also be reported. Also required to be reported are suspicious transactions that may relate to one of the specified targeted crimes, are more complex than normal, lack economic plausibility, or appear to have been undertaken to avoid compliance with the anti-money laundering law. The reporting institutions must require their customers to provide a detailed record of the transaction.

Bank Reporting Requirements for US Banks:

A bank must file a Currency Transaction Report (CTR) (FinCEN Form 104) for each transaction in currency76 (deposit, withdrawal, exchange, or other payment or transfer) of more than $10,000 by, through, or to the bank. Certain types of currency transactions need not be reported, such as those involving "exempt persons," a group which can include retail or commercial customers meeting specific criteria for exemption. Refer to the core overview section, "Currency Transaction Reporting Exemptions," pages 90 to 94, for further guidance.

Aggregation of Currency Transactions

Multiple currency transactions totaling more than $10,000 during any one business day are treated as a single transaction if the bank has knowledge that they are by or on behalf of the same person. Transactions throughout the bank should be aggregated when determining multiple transactions. Types of currency transactions subject to reporting requirements individually or by aggregation include, but are not limited to, denomination exchanges, individual retirement accounts (IRA), loan payments, automated teller machine (ATM) transactions, purchases of certificates of deposit, deposits and withdrawals, funds transfers paid for in currency, and monetary instrument purchases. Banks are strongly encouraged to develop systems necessary to aggregate currency transactions throughout the bank. Management should ensure that an adequate system is implemented that will appropriately report currency transactions subject to the BSA requirement.

Currency Transaction Report Form: http://www.fincen.gov/forms/files/fin104_ctr.pdf

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