Job Discussion Forums

[Jbhughes]

What exactly is your point here Proffeshnial Teachman? Have you figured out some way of eliminating the (hopefully) low possibility of having one's bags or pockets searched at the airport? Or is it that you've found out a way of hiding your money about your person/in your belongings such that a customs official wouldn't find it?

Is stashing away one's lolly like it is as kosher as your average consignment of schnowder really the way to go here?

I think what the worry here for most (well, me anyway) is the very possibility (however small) of having it taken away by some ****er in a uniform. With this in mind it really would be great to know the 'exact' (we are in Vietnam of course) rules regarding required limits and paperwork for cash and or other assets when leaving.


,

Someone with sweaty palms on a wad of readies!

[kurtz]

It's 7 grand, they have the full right to take anything over if you don't declare it. Is it a risk you want to take? Can't you use Western Union or some other method? Damned if I'd take the risk, I'm sure they'd love to get their hands on some undeclared cash.

Foreign currency (including cash and travellers cheques) in excess of US$7000, cash exceeding Vietnamese Dong 15,000,000 and gold exceeding 300 grams must be declared at customs (with supporting documentation) upon arrival and departure. Excess currency and gold not declared may be confiscated at the port of entry/exit and the passenger arrested and/or fined.

http://www.smartraveller.gov.au/zw-cgi/view/Advice/Vietnam

[Charvo]

Carrying over US$5,000 (or its equivalent) or VND15 million in cash into or out of Vietnam must be reported to customs at the border, as stipulated by State Bank of Vietnam (SBV) Circular No 15/2011/TT-NHNN dated August 15, 2011.

http://www.nhandan.com.vn/cmlink/nhandan-online/homepage/sci-tech-environment/environment/sbv-sets-new-regulations-on-carrying-cash-across-border-1.308020

[Proffeshnial Teachman]

Well 'joy' and indeed 'oi' as they say around here in some parts!

Yes, the possibility of having hard earned removed by spontaneously exceedingly diligent customs officials has existed in Vietnam for some time. But to reduce the amount from 7 grand to 5 appears (to me) to be a retrograde step in a country attempting to become a regional business centre.

While anyone exiting on a frequent basis will have to think hard to recall hordes of foreigners (or even one) being strip-searched, every book opened, every crevass throughly investigated on the perchance of locating a potential windfall (they look far too involved standing around and rubber stamping travel documents in triplicate) I suppose the possibility exists that certain individuals could be pulled and rudely frisked.

Same old, same old really. Use discretion and look reasonably respectable and there is usually no reason for the boys in lime green to actually ever get involved. They really don't want to, in my experience.

Even if they do, may I submit that the chance of actually locating excessive amounts of cash is highly unlikely if even the most basic of contigencies has been implemented. Need I say more?

However, the necessity for even having to think in this way is yet another reason why many of my former colleagues unjustly consider the country to be a regional basket case, vying with only Thailand for vaguely intimidating weirdosity.

[deessell2]

Have you thought about buying travellers cheques? They are available at the ANZ bank.

Half in cash and the other half in t/cheques.

[ajc19810]

From what I understand it is as much to do with the country you are entering as it does the country you are exiting. I would be more concerned about Australian customs than Vietnamese customs if I was taking loads of money out. Either way just keep it within the legal limits be it $5k or $7k or whatever.

[CThomas]

http://www.expat.hsbc.com/1/2/hsbc-expat/foreign-exchange-currency/faqs

This is an offshore account. I don't use it, but it looks promising.

http://www.expat.hsbc.com/1/2/hsbc-expat/foreign-exchange-currency/faqs

[cb400]

[snollygoster]

Bank account with a Visa card. When you get home, raid the hole in the wall. Always worked for me and still does. No cash to show anyone with sticky fingers even if they do ask.
Simple, easy, not illegal, and always works.

[bludevil96]

I have just transferred money into my U.S. Citibank account. The deal here is that as long as the source of the money going into your Vietnamese account can be trace to work e.g. direct deposit, it can be transfer out. If you have a Vietcombank account, you need to go to one of the 2 main branches, Dien Bien Phu or Vo Van Kiet, to do it since not all of the branch have the authority to do out of country transfers. The cost for VCB is $27 + the cost to the intermediary bank {(HSBC) probably $30-40}. My guess is that they want to see a trail.

[bludevil96]

This latest article pretty much will settle all questions about taking cash out of the country.

http://tuoitrenews.vn/cmlink/tuoitrenews/society/chinese-man-caught-with-45-000-on-leaving-vietnam-1.58847

[Charvo]

I've seen the dollar actually decrease in value versus the VND in times of economic turbulence. The government has put the hammer down on inflation before New Year's. It's really tough to buy or even sell dollars to the gold shops now unless the gold shops know you a little. Construction projects are at a standstill because the government doesn't want to import the raw materials necessary to complete them. I live next to a bridge being built that would connect the Trung Son area with the Lottemart area in District 7. It was supposed to be finished this past September. Even though it is a pretty important bridge in terms of commerce, construction has stopped dead cold for several months. Combine this with the lower $5k limit for dollars leaving the country, and I see a country using heavy-handed methods in order to control the VND value. How long can they do this? Who knows, but the VND has been increasing in value from 21,550 back to 21,000 per dollar.

[LettersAthruZ]