Is SCB in trouble?

[smutcakes]

1 hour ago, simoh1490 said:

If you look at the DPA link in post 20, the 1 million level is not forecast to kick in until 2020. Historically government has maintained the 15 million baht level and when it has come close to the scheduled date for it to be reduced, it has been extended - I expect fully this will happen again before 2020. But the point is well made that non-resident and foreign currency deposit accounts are not covered under the DPA scheme. And it's not a matter of being resident or non-resident full time, it's a matter of whether the account is a resident or non-resident account since residents may open either type.

Those with a valid work permit also qualify a resident accounts (so myself for one). I doubt many people who are not working here are holding large cash deposits in the banks anyway. I presume most make periodic transfers on a quarterly or half yearly basis rather than transferring large amounts.

[simoh1490]

7 minutes ago, smutcakes said:

Those with a valid work permit also qualify a resident accounts (so myself for one). I doubt many people who are not working here are holding large cash deposits in the banks anyway. I presume most make periodic transfers on a quarterly or half yearly basis rather than transferring large amounts.

One more time....a person doesn't have to be resident in Thailand to open a resident account, similarly, a resident may open a non-resident account, the accounts do not depend on residency status.

 

And I don't work here, I am retired and I keep over 6 million in cash in banks here, much of which is in long-term fixed rate accounts and some in mutual and LTF accounts. My logic has been that I live here and will always need Baht to spend, plus, THB in fixed-rate accounts currently earns me 1,9% which my mutual and LTF accounts earn at a much higher rate, all of them effectively tax free because I reclaim the tax. Contrast that withholding the money in the UK at 0.25%.....the THB has also increased in value substantially over the years so I'm not too worried about the rate of return currently.

Edited November 23, 2017 by simoh1490

[Naam]

On 11/20/2017 at 4:16 PM, observer90210 said:

I'm no financial fortune teller or guru....but just a reminder of the golden rule in Thailand....

 

....never deposit in a bank or invest in real estate......more then what you can afford to loose....with that in mind, enjoy and stay safe !!

the mantra of people who have no money to invest

[Naam]

6 minutes ago, simoh1490 said:

the THB has also increased in value substantially over the years

yes ! and no matter what your home currency is... you lost. period.

[observer90210]

37 minutes ago, Naam said:

the mantra of people who have no money to invest

or perhaps the idiom of those not stupid enough to loose everything by putting all one's eggs in the same basket ?

Edited November 23, 2017 by observer90210

[simoh1490]

8 minutes ago, observer90210 said:

or perhaps the idiom of those not stupid enough to loose everything by putting all one's eggs in the same basket ?

People who are prepared to bring 5+ million into Thailand would certainly never bee putting all their eggs into one basket, trust me!

[NancyL]

We get much better returns here at Bangkok Bank than with our credit union in the U.S., so have we have  bought some of their investment products, etc.  Plus, at my local "home" branch of Bangkok Bank I'm treated like a goddess whenever I come to turn brown pieces of paper from their ATM machine into pink and green pieces of paper. I think having 5 or 6 million baht in their bank has something to do with this.  The branch manager told me that each manager is "graded" on their performance, like opening new accounts, amount on deposit, etc.   

[observer90210]

24 minutes ago, simoh1490 said:

People who are prepared to bring 5+ million into Thailand would certainly never bee putting all their eggs into one basket, trust me!

Well you would put in a same basket once you purchase property...but anyhow, I'll repeat once again, it was just my humble opinion and personal ease of mind to never to put in the same or diversified baskets, more then one can afford to loose in Thailand....the rest is much better of in a safe, in a safe country !!!  .....and this is just IMHO....free to all to do as they feel comfortable..

 

Whatever, wish all a peaceful and fruitiful returns on their respective investments. .. case closed for me on this thread.

Edited November 23, 2017 by observer90210

[craigt3365]

42 minutes ago, observer90210 said:

or perhaps the idiom of those not stupid enough to loose everything by putting all one's eggs in the same basket ?

Naam knows more about international investing than pretty much all of us here. I wish I knew 10% of what he knows! And I've got a masters in finance.  LOL

[simoh1490]

48 minutes ago, observer90210 said:

Well you would put in a same basket once you purchase property...but anyhow, I'll repeat once again, it was just my humble opinion and personal ease of mind to never to put in the same or diversified baskets, more then one can afford to loose in Thailand....the rest is much better of in a safe, in a safe country !!!  .....and this is just IMHO....free to all to do as they feel comfortable..

 

Whatever, wish all a peaceful and fruitiful returns on their respective investments. .. case closed for me on this thread.

FWIW the cash amounts I was referring to are totally separate from the value of the home I live in and separate again from my overseas investments. For others who are reading this who are interested in asset allocation, mine look like this:

 

THB = 70%

Cash 19%

Time Deposits 31%

LTF's & Mutals Funds 9%

Property 35%

Other 6%

 

GBP = 30%

Cash 11%

Investment Funds 35%

Misc Stock 3%

SIPP 38%

Property 13%