My friend won some money at a casino in Macau. She was paid in HKD cash. She will be travelling around Asia to Manila, Phnom Penh, Singapore, Sydney, etc. She doesn't want to carry it on the plane because she might get robbed by the border agents.
What are the cheapest ways to send money out of Macau to yourself? My friend has bank accounts in Australia and United States.
It's not cheap if it risks a royal commission.
I was going to suggest a boogieboard bag…
Assuming she doesn't want to do the obvious bank transfer via Bankwire or a service like WorldRemit
There's Bitcoin or Buttcoin. The latter isn't recommended. https://nypost.com/2020/10/16/plane-passenger-caught-smuggli…
I am impressed yet curious as to how you found this article?
and im impressed with the shape of the gold nuggets and how they came about it.
The one on the left looks painful. The top part also looks like Trump's hair.
My first reaction was impression too but after thinking about it for just a minute I reckon there are a lot more suitable shapes, and not surprised he was "walking oddly." I suspect a quick visit to a sex shop would have been enlightening.
@boomramada: I'm sure they just went straight to putting gold up themselves. There may be merit in perhaps small gold…fish shapes?
Saw it years ago. Couldn't unsee it. When I searched for the article again, I was surprised at how many similar stories there were!
Is "Bankwire" the name of a service, or do you just mean a wire transfer? If the latter, can that be done without a Macau bank account?
I checked the WorldRemit website and I didn't find anything about paying by cash. It seems to need a payer bank account.
Yes. Bankwire=Wire Transfer. You'd need a bank account. Same with Worldremit.
If you're looking for a way to send cash without an account, you'd have to use something like Western Union. They'll screw you on exchange rates or fees. You'll of course have to provide ID.
If only Crown Casino was in still in Macau I'm sure they would have laundered it for you.
buy something, like jewellery and wear it, and then come back and sell it
Thanks, but that would probably be too uneconomical.
Unless she could get a good deal on a highly demanded watch, like a Rolex. There are many watch and jewellery stores in Macau.
get robbed by the border agents
lololololol
some money
I wouldn't even bother with this thread unless its more than HKD$500k
So you'd just be cavalier about HK$500k?
I assume Australia dosen't tax on gambling winnings? Why can't she wire it back? (Unless she was planning to use the capital to start a drug operation here)
Australia doesn't tax gambling winnings.
No but depending on the volume of winnings, she might get flagged for money laundering or proceeds of crime. So she would want to minimise attention to herself
By who? Transferring by wire would be the safest way. Or just use transfer wise, ofx etc.
And she has verifiable proof the money was obtained legally. The alternative is to actually money launder which doesn't make sense.
@star-ggg: She would be more than happy to do a bank transfer, but she doesn't have a Macau bank account and I don't know of any Macau banks which let a visitor open one.
This is a concern with carrying a large amount of cash on the plane. It's unfortunate that regulations can cause legitimate individuals to transact in ways which look suspicious.
No tax in Australia on gambling winnings, or anywhere relevant to my friend.
Can she wire the money without a Macau bank account? The Wynn Macau said they don't do wire transfers.
Western Union or whichever is the largest money transfer agent in Macau.
Just how much are we talking about?
$3.50
I assume she won like $5m, just go to a bank open up a bank account leave the money there, then both of you can fly there in first class and withdraw the money and fly back :)
Some casinos in Macau offer a player account which could be used for the same purpose. But there's slight counterparty risk with the casino or not being permitted entry, etc. There's also the time and monetary cost of the extra flights. And any hassles of carrying cash on the plane, through security in Australia or United States, and actually depositing it in the bank.
DM me for my bank details and she can park it there until she gets here
Maybe…open a Wise account, deposit HK$ in at a HK bank.
deposit HK$ in at a HK bank.
How?
Go to HK (45 mins from Macau). Walk into a bank, deposit HK$ using your HK Wise bank account details
Wise doesn't offer HK bank account details and even if they did, you couldn't do that.
Just do what they've been doing for years.
Buy bulk Gold Coast apartments and consider your money successfully laundered.
Interestingly, there are loads of Aussies in Macau who refuse to assimilate or even learn the language.
I guess it goes both ways as well.
Opening a bank account to hold it at least temporarily is a good idea. Some banks that have Australian branches may make life easier (though probably not cheaper).
If it's an amount you can spend, you could slowly use it up as HKD. Otherwise, leave it there, book another trip to HK to withdraw it at a future date and declare it when returning to Australia.
Which Macau bank will let a visitor open an account?
Has she tried going into one of the international banks and asked?
For example, HSBC allows you to "Open another account in over 30 destinations, from within or outside Australia" including in Macau SAR: https://www.hsbc.com.au/international/overseas-account-openi…
I've personally opened a HK account with HSBC from Australia, though the process can take a few days and some documentation.
Yes, she tried HSBC. The front desk person said it wasn't possible. She will ask the other staff and press the issue.
Did you need employment or an address in HK? A HK account would solve the problem too.
@Scrooge McDuck: I've never been employed in Hong Kong, and I think I used my Australian address. I do remember having to pay a fee. It was a few years ago, so things may have changed. Maybe worth looking into that link and/or you asking HSBC in Australia about it if Macau is not helpful.
@Scrooge McDuck: HSBC is your best bet. Even their website states "MACAU SAR"
https://www.hsbc.com.hk/international/account-opening/
@Scrooge McDuck: Also according to HSBC HK you can do it online provided you have an address in one of the below countries:
Apply online via mobile app (HKID holder or overseas passport1View footnote 1 holder)
You'll need to download the HSBC HK App to open an account online. You can apply if you're:
holding an eligible Hong Kong ID or an overseas passport1View footnote 1
new to HSBC
between the ages of 18-64
living in Australia, Canada, Macau SAR, Singapore, the UK or the US
https://www.hsbc.com.hk/international/banking-in-hong-kong/
Has she thought about storing it in a boogie board bag?
Anyone else curious about how much cash we're talking about here? I mean it's a big difference between a stuffed wallet and a stuffed suitcase…
I just use an ALDI cooler bag when carrying large amounts of cash through a casino.