13 hours 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 have a similar experience with Bangkok Bank. I just discovered that my account with over 600baht was closed. When I asked the reason, I was told that all idle accounts with small balances were closed. Probably it is again double standards. If you are a farang, your account with over 600 baht will be confiscated while thais can keep accounts with less than 50baht without problem.

 

Makes me wonder how much is still in my Bangkok Bank account.  I've been gone about 7 years.  I don't even remember my acct # or where my bank book is.  

In order to avoid bank charges on the Bangkok bank account, it is necessary that there is some "movement" on it. Deposit 500 baht twice a year and withdraw again. That should be enough to avoid fees.

One must remember, Thai people don't keep their GOLD jewelry in a bank account. So, as an indicator of wealth among average Thai people this study is pointless. Ever go to a large but average Thai wedding? I see a lot of Ban-nok looking Thai's wearing a hell of a lot of REAL GOLD around their necks and wrists. My own Thai mother-in-law has one hell of a lot of gold stashed away in places other than a bank. Jing Jing!!!

It would be interesting to see how those figures compare to other countries around the world. Is it grossly different than other SE Asian nations or pretty much the same? How does it stack up against the account situations in more developed countries? Are Thais virtually enslaved more through their debts than those in other countries?

 

It would be nice to see this info used with some comparative data to give us a bigger picture with more information. 

 

 

14 hours ago, legend49 said:

Whats the purpose of this useless data?

It's a warning, NEVER lend money to a local!

I do believe that most expats that have an account are in the top of mid to high class 

of the Thai people, except for maybe the overstayers.  I am glad that I have Thai family that takes care of my account when I am not in Thailand. I used to have an account at Kasakorn, or the Thai Farmers bank, but let it get closed. Now I find it is not as easy to open

a new account. Compared with the 4000 CDN dollars that I have to have in my

account back in Canada in order to get some free services, I find the fees in

Thailand are a lot less. I get good service at the banks that I deal with, and am glad that

the Thai banking is a lot better than in Mexico. and especially in most Central American countries..

Geezer

9 hours ago, fforest1 said:

Gee I wonder why my saving account goes down by 20 baht a month when I never use it.....

 

Bangkok bank sure as heck does charge a saving account fee every single month...I guarantee you 100%....

Quote

Banks are permitted to deduct monthly maintenance fees of 50 baht for accounts that have been dormant for one year and have outstanding deposits of under 2,000 baht until the balance is depleted.

Other than that, there should be no charges apart from debit card renewals and ATM fees.  There definitely hasn't on my BKK account which I've had for almost 20 years.

17 hours ago, legend49 said:

Whats the purpose of this useless data?

What's the purpose of data? 

12 hours ago, DoneTravelling said:

No fees at Bangkok Bank

I think it depends on the balance and the time of inactive with no deposits.

Its much more simple. Those people with low amounts simply were forced to get their salary that way and withdraw all of it-but can only do that in rounded amounts on payday to simply continue the way they always did-only using cash. So every month 12/13k gets in and gets withdrawn out (example). Did not even found out yet how to pay online vs going to the 7 and paying all those monthly bills for faifa, naam prapa etc.

On 12/21/2019 at 8:07 AM, 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 ????

OR someone you know and love dearly has it. Never heard of money disappearing without a trace. Sounds like a FAKE story to me

On 12/21/2019 at 1:51 PM, Chazar said:

Better "investments" than that available

I know that a Thai man who no-one wants to talk about invested 22 million in 3 Rai of land, worth nothing near that

in the meantime, one of my neighbors, just bought his 2nd new RED FERRARI, because one was not enough, next to his 3 different colored porches, mercedes SUV and sports car

15 minutes ago, justin case said:

in the meantime, one of my neighbors, just bought his 2nd new RED FERRARI, because one was not enough, next to his 3 different colored porches, mercedes SUV and sports car

No Bimmer?

This guy have no taste!

And 20 Million + dont have a Pot to P@@5 in.

80 million bank account with a population of 70 million and thats is including children and people who don't have an account.

 

My theory and wise understanding of the recent immigration requirements of putting your money in and using Thai bank accounts and buying insurance has just materialized.  The money that is kept in the bank for meeting the requirement is now makes me equal to being 160 Thai productive citizens. Propping up the banking system has made me feel a bit better about myself today! Hehe!

On 12/21/2019 at 2:19 PM, fforest1 said:

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

Citibank Thai increased their monthly account keeping charges from THB100 to THB300 about 2 years ago with no change in service or anything else I am aware of.

Cheers

Lindsay

On 12/21/2019 at 2:36 PM, 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...

And there will be many more without bank accounts and those with a variety of loans that are in major negative equity.  Seems many rural Thais are in financial difficulty and going backwards.  There is however a similar situation in Australia and NZ with massive household debt - loans, credit card, purchase plans etc.

On 12/21/2019 at 1:33 PM, Borzandy said:

Non included those don't have bank account.

Yeah! Wasn't it like nearly 50% of the population that don't have an account......Which may mean zero baht in the bank. That calculates very roughly to about 35,000,000 Thais with basically not one satang!!! ????