Travelling with over $100k cash

Hello Fraz,

Paper work? You assume wrongly - in fact in most countries you will find yourself arrested on the spot for trying to bring that kind of currency into the country. In most nations it is a criminal offense to bring in more than USD $10,000. Even if what you plan to do with the money may be completely legal, the first things that authorities will suspect you of is either money laundering or drug trafficking.

Transactions (legal transactions) for large amounts of money are always best handled through banks in the nation the money is being brought into, since they will ensure that the transaction conforms to the banking laws set down by that country's Central Bank.

Aside from the serious legal problems that you will run into should you try, have you ever thought about the personal risks and dangers of carrying a large sum of cash on you?

Do yourself a favor, pay the banking fees and taxes involved. Neither a long time behind bars or an eternity in a wooden box six feet down are worth what you think you might save.

Cheers,
William James Woodward - Brazil Animator, Expat-blog Team

Hi William,

I appreciate the wisdom of your words but could you clarify whether you are referring specifically to Singapore or speaking in general?

Why would you be arrested for taking money that's already declared at customs?  Surely it's your right to take however much you want and to carry on your person or even in your hat provided its all done within the legal framework. 

Everyone has a different tolerance levels when it comes to 'personal risks'.  If there's a great restaurant in a bad part of town, would you avoid it just because of the location?  Some might but I wouldn't.

For your information (and everyone else's) I have checked with Singapore Customs who inform me that you are free to travel with as much cash as you want provided the you declare it at the immigration desk and then fill out form NP-727.  There are no charges or taxes to pay.  And for your guidance the maximum amount you are allowed to take with you without declaring is SG$30,000, about US$24,000.  It is all legal and you can call the guy yourself at +65 6557 5480 if you wish.
 
Cheers,
Fraz

That may well be the situation in Singapore and nobody is disputing the legality of your intended transaction.

If you've got sooooooo much money that you aren't the least bit concerned about the risks involved in carrying it half way around the globe in cash, then I find it extremely odd that you'd worry about the small additional costs of transferring the funds electronically and eliminating ALL risks completely.

I don't know if you're familiar with any old English sayings, but there is one -  Penny wise and Pound foolish, which essentially means that people will think of all kinds of ways to save a penny here or there but throw good sense right out the window when it comes to large sums.

Do what you want to do, but if it all hits the fan later on, you sure can't cry about it. One suggestion, now that you've already put out on the internet the amount of cash you are going to be taking with you and the location where you are taking it to you've got to be aware that anybody with the least bit of computer knowledge and Google can find out that information, and if you book flights online could even track you which compromises your security greatly. I don't know, maybe private armed security and a bullet proof vest are cheaper than the transfer fees and taxes where you are. Good luck to you.

@ wjwoodward

wjwoodward wrote:

Paper work? You assume wrongly - in fact in most countries you will find yourself arrested on the spot for trying to bring that kind of currency into the country. In most nations it is a criminal offense to bring in more than USD $10,000.

Sorry if I misunderstood you William but earlier it sounded like you did. 

At any rate I believe you are right and have decided that the risk/reward factors don't add up and it would be better to take the safer road.  That's why I'm now going by boat. 

I've decided on the USS Freedom as a supernumerary just in case we should run into pirates or baddies in the Malacca straits or off the Somali coast.  I hope we do because the 23 day voyage could get boring and I can only watch Scarface so many times. 

I've found that the venture makes economics sense only if I take $10+ million so I'm bringing the $9.9m in bullion I have stashed under my mattress. Don't worry, all will be declared at customs and so perfectly legal. 

I'm be boarding at Changi Naval Base on July 1st if anyone would like to wish me farewell and disembarking in Larnaca, Cyprus.  I'll travel by foot heading directly to the nearest Laiki Bank to save on the cab charge.  Those cab drivers are notoriously expensive, you know.  The only thieves I'm worried about there is the government.  Do you think this is a better solution?

I had tried my luck down at he post office to see if I could post myself $100k but they told me the insurance alone would be about $2500 and about $5 for stamps but would take 10 days to arrive so I dismissed that ideas because its just too boring.

Anyway I hope to see as many friendly faces as possible before I board the USS Freedom on July 1st and will be sharing updates on the voyage including vessel position, speed itinerary.  I really hope some baddies read this so they can do liven up the voyage.  Soldiers need to keep their skills honed and target practice is no exception.

I once took S$10000 (approx. US$8000) in cash from Singapore to Indonesia - that was before the Indonesian banking system became able to handle.
There are many people in this world who would kill you for that money, so even though I arranged a friend to pick me up with his car and an armed guard and bring me straigh to the bank, I feld very insecure and would have chosen any other option if there had been one.
(Needless to say, what I gave my friend and the guard was about the same an international wire transfer costs.)

Hello again frazzla,

I'm not going to waste any further advice, since you are going to do what you want to do, no matter how risky that may be. It clearly doesn't matter much to you.

The only thing I will say is that I truly hope nothing happens to take away your sense of humor and to wish you luck. I will ask you just one thing.... Google your complete name, see what comes back, it may surprise you and make you think again.

Hi William,

Thanks again for your kind wishes.  I've just done a search on my name in Google and discovered much to my satisfaction that I am a level 90 crusader on WOW and also a cool dude Russian biker.  So, to any baddies out there: be warned, I am a Russian who will beat you into a jelly on WOW!

Joking aside though, I am aware that our personal details are all over the internet so anyone can look up your info easily.  It definitely wasn't a smart move on my part by declaring my intentions.  syndicated criminals and scam artists all over the world could leave you having a very bad day.  Singapore is a very safe place you know but one should always worry about the Yakuza even here.

That's why I decided against traveling by helicopter.  as improbable as it may seem, the thought of ferocious ninja trained yakuza operatives equipped with jet packs and sharp pointy katanas nearly made me wet myself.

I think I'll just set up that meeting with the banker as you suggested.  Many thanks.

Cheers,
Fraz

I think I'll just set up that meeting with the banker as you suggested.  Many thanks.

Wise and safe choice!

Just something to note, if Mr. Woodward offers you friendly advise, i would welcome it with both hands given his wealth of knowledge on this site and being a trustworthy member here.