Using Get4x in Phuket

Customers engaging in transaction of USD$5,000 or an exceeding amount would require a passport or other travel documents for verification. Aside from further strengthening its anti-money laundering laws, money changers were given compliance training and adherence to stricter requirements for conducting diligence and these records are to be kept for a period of 10 years. Since the implementation of the Capital Account Liberalization Master Plan on 30 April 2015, each individual is currently allowed to buy foreign currencies of up to US$5 million, with the amount being expected to increase further next year. Yet, money changers are expected to stay compliant with the anti-money laundering and counter terrorist financing laws and perform appropriate Know Your Customer checks, despite the expected increase in business volumes. As a result, customers are expected, and required to bring along appropriate documents if they are exchanging their currency, instead of simply leaving them at the hotel.