Skip to content
View in the app

A better way to browse. Learn more.

Thailand News and Discussion Forum | ASEANNOW

A full-screen app on your home screen with push notifications, badges and more.

To install this app on iOS and iPadOS
  1. Tap the Share icon in Safari
  2. Scroll the menu and tap Add to Home Screen.
  3. Tap Add in the top-right corner.
To install this app on Android
  1. Tap the 3-dot menu (⋮) in the top-right corner of the browser.
  2. Tap Add to Home screen or Install app.
  3. Confirm by tapping Install.

What would happen if a Bank goes down?

Featured Replies

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

  • Replies 157
  • Views 8.3k
  • Created
  • Last Reply

Top Posters In This Topic

Most Popular Posts

  • I think you are thinking too much for a number of reasons.   Firstly, deposits up to 5 mill. Baht are insured by the DPA until August, thereafter it's 1 mill. Baht.   Second, Thai

  • Nonsense, pure speculation without any basis in fact, pure scaremongering.

  • As you were one of the most strident voices saying EXACTLY the same thing about Coronavirus, sneering at anyone who suggested it was shaping up to be a problem, I am entirely confident that anything y

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. 

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

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

On 3/27/2020 at 4:10 PM, Max69xl said:

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."

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?

Create an account or sign in to comment

Recently Browsing 0

  • No registered users viewing this page.

Account

Navigation

Search

Search

Configure browser push notifications

Chrome (Android)
  1. Tap the lock icon next to the address bar.
  2. Tap Permissions → Notifications.
  3. Adjust your preference.
Chrome (Desktop)
  1. Click the padlock icon in the address bar.
  2. Select Site settings.
  3. Find Notifications and adjust your preference.