How much money do you feel comfortable keeping in Thai Banks?

[Chivas]

Absolutely not as regards the OP

50,000 is kept in mine maximum with any incoming transfers over and above withdrawn as cash

 

50k gets you up to the airport in an emergency and on to any one way flight anywhere in the world...... Absolutely no way would I keep more for the sole reason that the day it goes missing for whatever reason ATM theft, Bank Theft, Mickey Mouse theft etc etc the staff will initiate the standard process of ignoring you 24/7

Seen it too many times....

[The Theory]

“The insured limit is being reduced from its present 5 million to 1 million, in 2020.“ 

 

Just enough for begin with a non-o extension + a bit pocket money. 

Thats what I need. ????

No investment, no fund in bank, no headache and in the end no suicide. 

 

 

Edited November 2, 2019 by The Theory

[boonchu]

I jve kept over a million baht in the bank and am glad I did, especially with the current strong baht.

15 years now and never a  problem(touch wood).

[saengd]

27 minutes ago, IraqRon said:

what???? Of course they know now when you  are required to provide this info at renewal time, etc.  How ignorant of you.

 

The poster was talking of being denied entry at the airport, hardly a visa renewal scenario, don't ya think!

[IraqRon]

7 minutes ago, saengd said:

The poster was talking of being denied entry at the airport, hardly a visa renewal scenario, don't ya think!

no I don't think that this is what he said, do ya really ????  Anyone on a visa can be dinied entry at airport,  How do you know what visa the poster had???  do tourist have thai bank accounts???

 

Do you and him think that imm. doesn't have accesss to your account after having gotten it from the visa app.??? Except for tourist visas that is and again what tourist has a thai bank account.

 

This original post was made in referance to those expats leaving money in a thai bank to satisfy the imm. requirements, not for tourists.

 

 

[Fex Bluse]

Minimum required. 

 

What advantage is there to keeping more than necessary in a Thai bank. 

 

Don't let them make money on your money. 

[ujayujay]

As less as possible!

[khunPer]

23 hours ago, Hal65 said:

Do you guys feel confident maintaining fairly high amounts in Thai banks or is there a high risk of doing so here?

Yes.

 

The guarantee is still way over 1 million baht in each bank, and many of us retired folks have a fixed account with 800,000 baht. $15,000 is around 450,000 bath only.

 

If you larger amount to be deposit in cash, you can split them over two or more banks.

[Cricky]

What a rediculous post. 

 

It's up to the individual, what their comfort zone is and has nothing to do you. 

 

There are so many people here opening up with their personal circumstances, who on earth cares. 

 

Some people need to get a life and not be so tied up in what others are doing or how they manage their finances. 

[finnishmen]

maximum how much can move to bank, normal eweryyar need be minimum 800 000 B if need visa ewery year too. better keep this money alltime in bank. and my experience have bank need be alltime 2-3 million if need somethink do or has acciden or somethink. better bank have minimum 3 million then you no have newer any problem. but if have only visa money 800 000 V thats have minmimum amounbt what NEED BE in bank alltime. if no have thats moey stay home country and DONT dream live thailand.

[sikishrory]

Prob upto a milly.

After that I would have concerns.

Split it over a few different banks helps a bit

[The Theory]

I get 2% CD interest (but of course if you have an address in your home country) easy without paying any income tax in US. Why should I exchange the $US to an unstable ???? currency that pays me much less interest (+ stupid tax that they deduct) and be worry about it. ❗️ 

Edited November 2, 2019 by The Theory

[Wake Up]

Are you a troll?. Research global banking. Thailand  banks are one of the most secure banks outside of the USA.  The guys who say otherwise simply are misinformed, biased or ignorant.  Why do you think the baht is so strong?  You think world investors are stupid? Budget deficit in western countries are outrageous but not in Thailand. Get a clue man get a <deleted>$$$$ clue. 15,000 usa dollars is chump change in the world economy.  

[Johnthplumb]

On 11/1/2019 at 12:47 PM, PatOngo said:

400,000 and 800,000 baht seem to be popular amounts!

Funny you should say that, I think a lot of people think the same two amounts.

[Wake Up]

23 hours ago, AussieBob18 said:

Zero.  Try transferring money from a Thai bank to an overseas western bank.  Try taking a Thai bank to consumer affairs/banking ombudsman because your money was 'lost or taken' And on and on and on.  They are not Govt guaranteed and they are not 'real' banks as we know is the west.  Example: go into the Bangkok Branch of your 'Bank' and try to take out some money from your Chiang Mai account - penalties and fees apply - because each Region operates as their own Franchise.

 

Does the Thai bank you use have a branch/es in your home western country? Does your western home country bank have a branch/es in Thailand?  And only 1 million is 'insured' - but good luck getting that if you need to try and recover your funds.  

 

And if the Thai economy and/or Baht crashes - good luck getting a few million baht out - out of the bank or out of the country.

Safe and Secure? No they are not - and neither is your money.

 

Keep the absolute minimum needed - and bring it in on the provisdo that you will not be able to take it back. And keep accounts with 2 Thai banks with the minimum needed funds in them - if you have trouble with one they can shut you out - just like that.

 

B.S. 

[Johnthplumb]

3 minutes ago, Wake Up said:

Are you a troll?. Research global banking. Thailand  banks are one of the most secure banks outside of the USA.  The guys who say otherwise simply are misinformed, biased or ignorant.  Why do you think the baht is so strong?  You think world investors are stupid? Budget deficit in western countries are outrageous but not in Thailand. Get a clue man get a <deleted>$$$$ clue. 15,000 usa dollars is chump change in the world economy.  

I do not think15,000 USA dollars is even petty cash to most Thai banks, Personally I trust them with what I have in Bangkok Bank

[Johnthplumb]

5 hours ago, worgeordie said:

I would feel a lot more comfortable, if i had a lot more money

in a Thai bank????.

regards worgeordie

Wouldn’t we all 555555

[Power of life yoga]

7 hours ago, VYCM said:

What a rediculous post. 

 

It's up to the individual, what their comfort zone is and has nothing to do you. 

 

There are so many people here opening up with their personal circumstances, who on earth cares. 

 

Some people need to get a life and not be so tied up in what others are doing or how they manage their finances. 

welcome to "social media " ????????

[shy coconut]

On 11/1/2019 at 1:25 PM, Number 6 said:

I think the banks are as stable as in the west. Look what happened a decade ago. EU and US banks took a dump. Santander, Countrywide...

 

I do wonder what will happen when the condo loans both on units and developer get called.

 

I'm gonna say 2.5m, maybe more.

 

Bangkok Bank, SCB, Krungthai, KBank. My preference first two.

 

Did I miss something with Santander?

 

I've been with them in various guises for 30 years, mortgages, loans, current account

plus savings and didn't notice anything dramatic.

 

That was in the UK.

 

I think banks worldwide are monitored a lot closer these days after it all went

bits up a few years ago, so I think they're as good as any.

 

I am alarmed to hear about the impending civil war, though.

[emptypockets]

On 11/1/2019 at 8:51 PM, SteveK said:

I think that Thai banks are probably just as safe and secure as any others. The issue is moving your money here then after a few years, some hiccup or other means you don't qualify for your marriage or retirement extension, have to make a fast border run, then can't get back into the country on a tourist visa or VE due to whatever new changes and are essentially screwed. Good luck getting your non-O in Laos if you lose your paperwork when your bag is stolen on a bus. Unlikely, but <deleted> happens and I could imagine that happening to me.

 

It's incredibly arduous getting anything achieved at my Thai bank even in person, trying to do something from abroad would be futile at best. I know you can use your ATM card abroad but the fees would kill you if you had a lot to withdraw over many days. Being stuck outside of Thailand with your money in a Thai bank would be a massive headache.

 

All the more reason to keep abreast of any new visa requirements and not step out of line I guess. There's also a risk of being accused of a crime and having all your funds seized.

You've never heard of internet banking? It's really cool...you do this thing called login and you can do anything with your money. Maybe you will learn about it someday.

[emptypockets]

With the OP's posting history I'm surprised he has any money to put into a Thai bank.

Edited November 2, 2019 by emptypockets

[emptypockets]

On 11/1/2019 at 9:14 PM, Hal65 said:

Do

 

Do they really seize funds on a mere accusal?

 

This is the type of stuff that concerns me.

That doesn't surprise me at all.

[saengd]

11 hours ago, IraqRon said:

no I don't think that this is what he said, do ya really ????  Anyone on a visa can be dinied entry at airport,  How do you know what visa the poster had???  do tourist have thai bank accounts???

 

Do you and him think that imm. doesn't have accesss to your account after having gotten it from the visa app.??? Except for tourist visas that is and again what tourist has a thai bank account.

 

This original post was made in referance to those expats leaving money in a thai bank to satisfy the imm. requirements, not for tourists.

 

 

Posters seem to think gov. has built this huge linked database containing all the information they've ever collected from their various forms and that at a touch of a button it all pops up for anyone to see. I seriously doubt that exists, except in the minds of paranoid people.

 

Yes gov. did start collecting data on expats when those lengthy information sheets had to be filled out, frankly, anyone who put accurate information on that form needs counseling. And they did stop asking for all that data, it was a flash in the pan, mostly it was shown the information was sold to and used by direct marketing companies.

 

No application form asks for a bank account number or even a bank name. Yes there are copies of bank passbook and statement but there again Immi. likes to have copies of everything, just because they have them doesn't mean they use them or that they can even find them again in the future.

 

The idea that bank accounts would be frozen if a visa was cancelled or a person denied entry is fantasy, the idea that they would be seized is nothing more than melodramatic fantasy designed to make people even more paranoid and distrust the system even further.

 

 

[IAMHERE]

I do not feel comfortable having anything over two months of expenses in a Thai bank. That is  130,000 baht.  Never had more than 4 or 5 thousand dollars at a time. I always wanted to stay below the $10,000 limit you can have before doing the FBAR rigamarole. 

This year it is different; I am being forced by the Thai's to keep 800,000 baht on account. Means I have to do the FBAR, probably have to declare my Thai bank accounts on my IRS form too.  I do worry about the safety of that 800,000 and my ability to get it out of the country WTSHTF, and it will.

[Captain 776]

I top up 25,000 USD at a time.

Your money is insured in the bank here, I think the limit is 25 million per account.......not sure of 25 but definitely insured.

[saengd]

49 minutes ago, Captain 776 said:

I top up 25,000 USD at a time.

Your money is insured in the bank here, I think the limit is 25 million per account.......not sure of 25 but definitely insured.

I million, starting August next year, 5 mill. currently, see earlier post.

[JimGant]

1 hour ago, IAMHERE said:

I do not feel comfortable having anything over two months of expenses in a Thai bank.   I do worry about the safety of that 800,000 and my ability to get it out of the country WTSHTF, and it will.

Then, IAMHERE -- WHYAREYOUHERE?

[saengd]

39 minutes ago, JimGant said:

Then, IAMHERE -- WHYAREYOUHERE?

Exactly!

[AussieBob18]

14 hours ago, Wake Up said:

B.S. 

Wake Up Wake Up ????

[Number 6]

The insurance limit is 1M.

 

Well, many need 400-800k plus expenses so for them that question is moot.

 

FBAR is consideration but it's easy to file so why not bc you really should have funds in case of illness or accident.

 

Illness or accident?

 

I'm working here but 6-8 wire transfers $$$ very unappealing.  ATM pulls as well now they've been charging for some years.

 

There are financial speculators with billions USD in Thailand. I'm ok with few million thb. My community Bank in US is Rock solid. One of oldest banks in US.