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Large amounts - Safe places/accounts to use?

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On 8/6/2018 at 9:16 AM, janclaes47 said:

Then why lower the guarantees if those banks are so trustworthy ?

Banks are trustworthy in the sense that they are not going to steal the OP’s 4 million.

 

The insurance is incase the bank defaults on its liabilities. The chance of this happening is probably rather low, but it is not zero, therefore it is not free to insure every single depositor at 15 million baht, and someone has to pay for this.

 

As mentioned earlier, the guaranteed amount was increased after the 1997 financial crisis, but most likely, the fee for the insurance was not increased proportionally, so the banks are probably paying too little for what it should cost to insure their depositors.

 

Therefor either the price should go up, or the insured amount should go back down. Given that one million baht is already quite a lot to have in cash for most Thais, the most sensible would be to lower the amount insured.

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  • Suradit69
    Suradit69

    I'd be more worried about the many western banks that have collapsed or have had to be propped up or bailed out by governments.    "Stories of people not trusting Thai banks" are mostly work

  • Langsuan Man
    Langsuan Man

    If you think that there is any chance that you will use the money for the purchase of a condo in the future then you had better worry more about obtaining a Foreign Currency Conversion or Foreign Exch

  • scorecard
    scorecard

    Like in any country spread your money across several banks, funds etc.

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