5m depositors had less than Bt50 in accounts

By THE NATION

 

Atchana Lamsam, right

 

Almost 5 million Thai depositors have less than Bt50 in their bank accounts, according to a recent joint study by Puey Ungphakorn Institute for Economic Research and Deposit Protection Agency on the savings behaviour of Thais.

 

 

The study was based on 80 million bank accounts worth Bt12 trillion as of June 2017.

 

The Puey Ungphakorn Institute's section head of networking and communication, Atchana Lamsam said it was found that as of June 2017, 56.04 per cent of Thai people had commercial bank’s accounts.

 

Of the total depositors, half had less than Bt3,142 in their accounts.

 

Also, 32.8 per cent of the total or 12.2 million had an account balance less than Bt500 each, while 4.7 million had less than Bt50.

 

Only 0.2 per cent of total depositors had over Bt10 million in their accounts.

 

 

The study also found that bank customers with deposits of more than Bt3 million each, accounted for 10 per cent of the total.

 

However, their combined deposits account for 93 per cent of the total of Bt12 trillion in the Thai banking system.

 

Source: https://www.nationthailand.com/news/30379682

 

-- © Copyright The Nation Thailand 2019-12-21

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so i'm in that 0.2% bracket I guess ….  

2 minutes ago, steven100 said:

so i'm in that 0.2% bracket I guess ….  

Better "investments" than that available

I am surprised they still have 50baht in their accounts, I left 500baht in a bangkok bank account and year later went to look and it was all gone. 

50baht a month account keeping fee apparently ????

Edited December 21, 20196 yr by nev
S

26 minutes ago, steven100 said:

so i'm in that 0.2% bracket I guess ….  

So I guess I am in the 500 baht or less bracket...

9 minutes ago, nev said:

I am surprised they still have 50baht in their accounts, I left 500baht in a bangkok bank account and year later went to look and it was all gone. 

50baht a month account keeping fee apparently ????

I think Bangkok Bank charges 20 baht a month for the privilege of having a account... 

sometimes I wonder what kind of person I would be if I was born in Thailand.  I don't know if my personality is hardwired, probably not.  If it is, I would have gone to America at the age of 18 and came back to Thailand at 50.  But then what if then came back and everyone I knew here was poor?  

 

yea, i see people constantly stressing over 20 baht and i'm sure they have no idea to get out of this poverty well.  education is the absolute basic necessity...  you need the will.  that means going to where the money is.  that's Bangkok.  

Give it another year and that figure will be 10 million.

 

The generals bank accounts on the other hand are now bulging and that is the important thing.

 

Happiness has been returned to the families of those generals.

When you make the big time in Thailand it’s massive that’s for sure. 

No surprise there, most locals lives on hand to mouth daily If you'll stop an average Thai Joe in the street and turns their pockets inside out all that you will find would be some coins and no more than a 20-100 baht...

22 minutes ago, ezzra said:

No surprise there, most locals lives on hand to mouth daily If you'll stop an average Thai Joe in the street and turns their pockets inside out all that you will find would be some coins and no more than a 20-100 baht...

If you stop me in the street and turn my pockets out, you'd be unlikely to find more than 20-100bht.

1 hour ago, steven100 said:

so i'm in that 0.2% bracket I guess ….  

oh sorry  ….typo error  !   I meant i'm in the 32.8%  ……  

1 hour ago, fforest1 said:

So I guess I am in the 500 baht or less bracket...

yes .... i'm in there also … lol

5 hours ago, rooster59 said:

5m depositors had less than Bt50 in accounts

Non included those don't have bank account.

Yet, we have the 'privilege' of being allowed to deposit 800,000 Baht in our accounts in order to be allowed to stay here in Thailand, with the prospect of being 'allowed' to withdraw a maximum of 400,000 some 5 months after being granted a 12 month visa on the grounds of retirement. Considering, just how much most of us who live here permanently spend on services and general living costs (which in the majority are owned and supported by Thai workers), we must contribute a considerable amount to the general Thai economy. I estimate that I have spent over 27+ million baht whilst I have lived in Thailand, but we are treated as though we are the lowest of the low by the Thai government. I have lived in Thailand now for some 13 years and will be happy to live out my life here, but I just wish that the powers that be could see some sense in treating us with some respect. Thailand is a wonderful country and I hope that it remains that way in the future and grows into a truly democratic country (pie in the sky I suppose) in the years ahead, but the Thai people have got to realise that they are living in the real world where the BS thrown out by the powers that be is just that - BS. Maybe one day the powers that be will take their ostrich heads out of the sand and take a 'real' look at the world around them , not the cloud cuckoo land they would have the general populous believe. Recent events only go to back up the ridicule that people outside of Thailand will heap on Thailand with events like the Government using a fortune teller to guide them with regard to the tourist industry. I suppose that the next thing that will boost the numbers of 'Tourists' will be the immigration counting the number of 'Ghosts' entering the country. I wish Thailand and its people well, but Thailand has got to get living in the 'real' world or it will be doomed in years to come and once it has slipped to the bottom of the greasy pole it will never recover and slip into oblivion as far as the far east is concerned, which will be a very sad day for all concerned.   

29 minutes ago, legend49 said:

Whats the purpose of this useless data?

Does there have to be a purpose?

"Useless"?.... it gives us some perspective. That's useful. Bring on the revolution!

5 hours ago, Ventenio said:

sometimes I wonder what kind of person I would be if I was born in Thailand.  I don't know if my personality is hardwired, probably not.  If it is, I would have gone to America at the age of 18 and came back to Thailand at 50.  But then what if then came back and everyone I knew here was poor?  

 

yea, i see people constantly stressing over 20 baht and i'm sure they have no idea to get out of this poverty well.  education is the absolute basic necessity...  you need the will.  that means going to where the money is.  that's Bangkok.  

Or Pattaya or Phuket if your a girl.

5 hours ago, BritManToo said:

If you stop me in the street and turn my pockets out, you'd be unlikely to find more than 20-100bht.

 I See your married then! Lol now back in the UK and for 9 months I've had no cash in my wallet. Everything is swipe and pay now. Oh I have a wife and her purse is never empty. Lol

What’s up with the picture. Why are they smiling? Lol

Wonder how many of those have the latest iPhone or new bike? Making wise financial decisions does not seem to be part of the DNA.

Who the <deleted> let them look into peoples accounts?Why are the publishing peoples data on public forums?Why are they allowed to publish private data on public forums?Why is it now everybody's business what people have in the bank accounts?Do we now just take it for granted that this kind of thing is acceptable?What have I got to hide?Well that's certainly nobody's bloody business but mine!

Perhaps all their investments are tied up in watches...?

10% have 3 million? 

 

They are better than most Americans. 

6 hours ago, Denim said:

Give it another year and that figure will be 10 million.

 

The generals bank accounts on the other hand are now bulging and that is the important thing.

 

Happiness has been returned to the families of those generals.

Yes can we see how much they have in there account?

Money in bank account in Cambodia at 8 %.... 

And yet I am sure many of those broke Thais still manage to go to expensive clubs, sit there around their booked table in their cool black clothes with their friends, all looking at their phones,  with their personal bottles, all trying to look rich, take highly beatified pics for instagram doing the V sign pose and the gang hands...and then go back to their single room slum in a drab Bangkok suburb.

 

Even amongst the expats Ive noticed a tendency to talk big but be in reality earning what in my mind is next to nothing and living in squalor. Im sure they mostly have more than 50 baht in their accounts...but probably not much more.

 

 

 

 

 

Edited December 21, 20196 yr by uncleeagle

I was born with nothing, and I,ve still got most of it left ????

Why would they, bank fees are ridiculous.  Atm fees, account fees, reciever fees, deposit fees, transfer fees. They even charge you for an atm card, one bank charged 500baht we asked.

Last bank I signed up with in Australia gave me 100aud (2000baht) and free atm cards and pays for atm fees local and international.  

same same I have less

7 hours ago, ezzra said:

No surprise there, most locals lives on hand to mouth daily If you'll stop an average Thai Joe in the street and turns their pockets inside out all that you will find would be some coins and no more than a 20-100 baht...

I used to wonder why small village stores sell fuel in half liter servings. I know now. Many riders have so little money that's all they can afford. They'll buy a half liter, run the bike 'til it's dry then push it to the next store.