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shanewarne
Joined: 21 Feb 2008
Posts: 146
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 Posted: Thu Nov 17, 2011 12:48 am Post subject: Transferring money out of Vietnam |
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I'm soon due to leave Vietnam and have a load of dosh that i need shifting. Unfortunately most of this dosh (over 7 grand) was paid cash in hand, so therefore I am unable to transfer it through the conventional way. Can anyone give any pointers on the best way to get my dosh outta Vietnam? Cheers
Ps. I'm not the real 'Shane Warne'. |
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inhanoi
Joined: 22 Oct 2011
Posts: 165
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| Posted: Thu Nov 17, 2011 1:23 am Post subject: |
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Assuming you have dollars, or another non-dong currency, check the limits on how much cash you can exit with, and how much you can arrive with at your destination. Then just keep it safe. That assumes you are headed directly to a new location that has a bank that won't question the source of the cash. Sorry if I'm stating the obvious, I know you've been in VN for quite a while and you're probably looking beyond my suggestion.
I'm interested to know if there are other options. You're surely not the first person to be in this situation. |
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bludevil96
Joined: 07 Aug 2006
Posts: 82
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| Posted: Thu Nov 17, 2011 1:31 am Post subject: Re: Transferring money out of Vietnam |
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| shanewarne wrote: |
I'm soon due to leave Vietnam and have a load of dosh that i need shifting. Unfortunately most of this dosh (over 7 grand) was paid cash in hand, so therefore I am unable to transfer it through the conventional way. Can anyone give any pointers on the best way to get my dosh outta Vietnam? Cheers
Ps. I'm not the real 'Shane Warne'. |
There's nothing that says you can't carry it out in cash on hand. You only need to disclose it for the next country (if you choose to do so). If you have VND then you need to exchange it at a major jewelery store for dollars. They don't really monitor the cash you leave with. The last time I flew back to the U.S., I had $10k on me and no one says anything at the airport. |
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refugee
Joined: 21 Dec 2009
Posts: 33
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| Posted: Thu Dec 01, 2011 6:38 am Post subject: Re: Transferring money out of Vietnam |
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| bludevil96 wrote: |
They don't really monitor the cash you leave with. The last time I flew back to the U.S., I had $10k on me and no one says anything at the airport. |
I assume you mean you told them you had the cash and they didn't say anything? |
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bludevil96
Joined: 07 Aug 2006
Posts: 82
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| Posted: Fri Dec 02, 2011 1:36 am Post subject: Re: Transferring money out of Vietnam |
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| refugee wrote: |
| bludevil96 wrote: |
They don't really monitor the cash you leave with. The last time I flew back to the U.S., I had $10k on me and no one says anything at the airport. |
I assume you mean you told them you had the cash and they didn't say anything? |
No, I did not declare it with them. I did declared it upon entering the U.S. but half was in my carry-on and the other half in my pockets. |
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refugee
Joined: 21 Dec 2009
Posts: 33
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| Posted: Fri Dec 02, 2011 5:19 am Post subject: Re: Transferring money out of Vietnam |
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| bludevil96 wrote: |
| refugee wrote: |
| bludevil96 wrote: |
They don't really monitor the cash you leave with. The last time I flew back to the U.S., I had $10k on me and no one says anything at the airport. |
I assume you mean you told them you had the cash and they didn't say anything? |
No, I did not declare it with them. I did declared it upon entering the U.S. but half was in my carry-on and the other half in my pockets. |
That's why nobody said anything to you at the airport. When leaving VN, If you'd have had 2kg of heroin in your bag which you chose not to declare, then nobody would have said anything to you either. |
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shanewarne
Joined: 21 Feb 2008
Posts: 146
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| Posted: Fri Dec 02, 2011 9:22 am Post subject: |
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Update, went down my local Bank today which happens to be an Aussie bank called ANZ. Unfortunately, they refused to proceed with an international transfer to my home country as I have no proof of tax being applied. What a bummer man!  .... anyway, so i asked them how much i can change with proof of my plane ticket, and they told me max 5 grand USD. Double bummer man.
Looks like my only option is to change it at a gold shop and hope my girlfriend doesn't see my wad of cash.  |
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kurtz
Joined: 12 Mar 2008
Posts: 518
Location: Phaic Tan
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| Posted: Sat Dec 03, 2011 2:23 am Post subject: |
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| Can't you change the bulk of your cash at ANZ and get the rest changed in a gold shop? Put some in your pockets, the rest in your carry on. |
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Proffeshnial Teachman
Joined: 10 Jan 2006
Posts: 60
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| Posted: Sat Dec 03, 2011 7:09 am Post subject: |
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Split it.
Walk out.
OR
Fly out.
Why declare a load of cash to a country with 'corruption issues'?
They will not strip search you in customs, without a good reason.
PS - I also believe that the amount you can take out is now 10,000 USD, but I can't be certain.
Don't worry!  |
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ajc19810
Joined: 22 May 2008
Posts: 214
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| Posted: Sat Dec 03, 2011 9:40 am Post subject: |
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Hey Shanewarne,
This year I took 10k on my person back to Bris Vegas. I flew air asia. Under 10k you dont have to say a thing.
Had it changed from Dong to Oz $ at that place on Le Loi street. |
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Charvo
Joined: 02 Feb 2010
Posts: 37
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| Posted: Sun Dec 04, 2011 8:08 am Post subject: |
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| I remember reading a news article a couple of years ago about an Australian man who was carrying over $10k cash and some gold back to Australia from Vietnam. He didn't declare the money on the way out. I assumed they frisked him. They confiscated the amount of money that was above $7k. I think he was allowed to keep a few ounces of gold, too. The legal amount to carry out of Vietnam has been changed to $5k. If you carry above $5k, you should have documentation for the source of the money. For folks who are wary of carrying huge sums of money out of Vietnam, you can utilize a e-currency service called Liberty Reserve. I've used it to fund a forex account. There are places in Vietnam that you transfer money to with your bank account. They will send you Liberty Reserve dollars. Those dollars can be converted into physical cash later on when you are outside. I picked Liberty Reserve because of the low fees. I'm not affiliated with them other than having an account. |
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Proffeshnial Teachman
Joined: 10 Jan 2006
Posts: 60
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| Posted: Mon Dec 05, 2011 1:58 pm Post subject: |
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Just split the cash and stroll on out with it.
I really wouldn't worry too much as they haven't the resources to take apart every single bag of every single person exiting the country. It's not 30 kilos of Colombian marching powder you are taking out - it is a relatively small amount of paper. Paper which is light and flat.
If an individual is foolish enough to be frisked while carrying a massive amount of cash in his pockets, then he should expect to be separated from it by helpful local officials, keen to uphold the law, if the situation arises.
Use your intelligence! |
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inhanoi
Joined: 22 Oct 2011
Posts: 165
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| Posted: Mon Dec 05, 2011 3:01 pm Post subject: |
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"If an individual is foolish enough to be frisked..."
It's not a matter of choice whether you're frisked or not. So it's not a question of foolishness. You suggest that he "stroll on out with it." Your advice is the potential foolishness.
Yes, the odds are that no one will check. But you should ascertain the legal limits and comply with the law. |
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The Mad Hatter
Joined: 16 May 2010
Posts: 165
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| Posted: Mon Dec 05, 2011 6:41 pm Post subject: |
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| I wouldn't tell my bank anything about when I was leaving what business is it of theirs? |
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Proffeshnial Teachman
Joined: 10 Jan 2006
Posts: 60
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| Posted: Tue Dec 06, 2011 7:15 am Post subject: |
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| inhanoi wrote: |
"If an individual is foolish enough to be frisked..."
It's not a matter of choice whether you're frisked or not. So it's not a question of foolishness. You suggest that he "stroll on out with it." Your advice is the potential foolishness.
Yes, the odds are that no one will check. But you should ascertain the legal limits and comply with the law. |
But not as foolish as not reading, or omitting the remainder of the quote -
while carrying a massive amount of cash
But a brave attempt. Perhaps the other pertinent point was also lost - use your intelligence.
Back to the main point - a range of responses and it's up to the instigator of the thread to reach a conclusion. I know what I would do. |
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