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

[ubonr1971]

On 11/2/2019 at 12:56 PM, bkk6060 said:

Beyond the 800 k. Why keep more sitting for nothing?

Same buying a dead money condo.

Keep your money in your home country my stock accounts are up around 15% this year and I am fairly conservative.

yes, but how will that 15% look when the next stock market crash occurs. 10 yr bull run on stocks is unsustainable. Prices are so inflated. I sold up everything and waiting patiently for a crash to but everything on sale

[ubonr1971]

23 hours ago, Aussieroaming said:

Thats pretty good, we've got a fixed term account with Kasikorn that pays 1.7%/annum. I think I will be sending my wife to open a secondary fixed term account.

yes but siam credit union. Never heard of them before. How solvent are they? High risk I think giving fixed deposit rates that are too good to be true

[BigC]

Short answer is no

 

Not with this economy and after  what EU did in Cyprus 

 

EU took money out of Cyprus citizens  banks to pay off debt that had nothing  to do with citizerns

 

 

[Tomahawk21]

yes got 2 accounts here with Bangkok bank 1 sterling 1 in baht got several million in the baht account and the equivalent amount in the sterling account.  20 years never had any problems.

[JaiLai]

On 11/2/2019 at 11:12 AM, BritManToo said:

Every bank branch and every bank teller has their own rules.

12 years ago I could buy a 1 year non-o VISA for 120GBP, no questions asked.

12 years ago you bought a non O from a bank, that's impressive!

[Aussieroaming]

On 11/3/2019 at 1:06 PM, ubonr1971 said:

yes but siam credit union. Never heard of them before. How solvent are they? High risk I think giving fixed deposit rates that are too good to be true

They do seem too good to be true, they are listed and seem to have a lot of branches but without financial statements who knows how solvent they are.

[Tounge Thaied]

On 11/2/2019 at 12:42 PM, DogNo1 said:

I only transfer in about 66,000 per month to meet the financial requirements for my yearly extension of stay.  I keep around 150,000 in my Bangkok Bank account for local cash purchases but pay for most everything with my Navy Fed Visa Card to earn that 1% back.  Most of my money stays in my US accounts for the sake of convenience but I also keep about $60,000 in my Sumitomo-Mitsui account, also for the sake of convenience of making and collecting payments in Japan.  In short, I don’t keep any more money in foreign accounts than is necessary for convenience. We Americans have FBAR and income tax reporting requirements so it is a hassle to keep much money overseas.  So far as investing goes, it is tedious to file about 15 K-1s each year that include a foreign investment component.  I only do it because the rate of return on each fund makes it worth it in my investment advisor’s opinion.

Who is your investment advisor... I need one. 

[Naam]

On 11/1/2019 at 9:09 PM, madmen said:

These threads are amusing. Punters worried about Thai banks so they leave there cash at home in "safe banks" whilst watching it disappear in massive exchange rate loss.