scubascuba3 Posted March 27, 2020 Share Posted March 27, 2020 During the previous financial crisis, in the UK it took 3 months for me to get refunded for money i had at Icesave, so it's not a quick process Link to comment Share on other sites More sharing options...
saengd Posted March 27, 2020 Share Posted March 27, 2020 2 minutes ago, scubascuba3 said: During the previous financial crisis, in the UK it took 3 months for me to get refunded for money i had at Icesave, so it's not a quick process In post 158 above I refer to an article that states: In outline the article says that DPA can refund money to depositors within 30 days using PromptPay. Link to comment Share on other sites More sharing options...
Vigilante Posted March 27, 2020 Share Posted March 27, 2020 What happens if a bank goes under? 1. Govt re-imburses acct holders up to 5 mil (for now) or... 2.Reimburses but not up to the total amount (haircut) or 3.No re-imbursement Ok..I covered all 3 potential senarios It will all depend on how deep this crisis gets imo Link to comment Share on other sites More sharing options...
Max69xl Posted March 27, 2020 Share Posted March 27, 2020 19 minutes ago, Vigilante said: What happens if a bank goes under? 1. Govt re-imburses acct holders up to 5 mil (for now) or... 2.Reimburses but not up to the total amount (haircut) or 3.No re-imbursement Ok..I covered all 3 potential senarios It will all depend on how deep this crisis gets imo This is from Bangkok Bank: https://www.bangkokbank.com/en/Personal/Tips-and-Insights/Save-and-Invest/Practical-advice-on-deposit-protection 1 Link to comment Share on other sites More sharing options...
Leaver Posted March 29, 2020 Share Posted March 29, 2020 On 3/27/2020 at 4:10 PM, Max69xl said: This is from Bangkok Bank: https://www.bangkokbank.com/en/Personal/Tips-and-Insights/Save-and-Invest/Practical-advice-on-deposit-protection I don't think the below can be relied upon, in the current circumstances. "From August 11, 2019 Thai Baht Deposits are protected under the Deposit Protection Agency Act up to a maximum of 5 million baht per one depositor per financial institution until August 10, 2020." Link to comment Share on other sites More sharing options...
saengd Posted March 30, 2020 Share Posted March 30, 2020 (edited) delete Edited March 30, 2020 by saengd Link to comment Share on other sites More sharing options...
SwissCheeseMan Posted March 30, 2020 Share Posted March 30, 2020 On 3/27/2020 at 3:29 PM, Max69xl said: This thread is about what happens if a bank goes down. BoT and every Thai bank follows international banking regulations and until August this year up to 5 million baht is covered,then it's 1 million baht. Only very ignorant people, pessimistic people and conspiracy theorists (you can find all three categories here on TV) are worried about this and can't sleep. Who is providing this cover? Is it the Thai Government? Link to comment Share on other sites More sharing options...
morrobay Posted March 30, 2020 Share Posted March 30, 2020 Did any Thai banks fail in 97. Seems if push comes to shove the baht can just be devalued to cover losses. Link to comment Share on other sites More sharing options...
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