Bank deposits get Bt5m insurance for one year

[david555]

2 hours ago, Leaver said:

Why are you waiting 2 years to leave?  

 

2 hours ago, Leaver said:

Why are you waiting 2 years to leave?  

Same as was planning 2 years ahead to come to live Thailand 11 years ago.....

Now stopping buying anything that does not can fit in a suitcase ...lol...and have to make some sellings . Arranging my repatriating money... so many private reasons ....i am not a walking on" 1 night ice " man ????

 

Btw also only May 2022 my rented out home property comes to end the 3-6-9 lease....

[Leaver]

18 hours ago, david555 said:

 

Same as was planning 2 years ahead to come to live Thailand 11 years ago.....

Now stopping buying anything that does not can fit in a suitcase ...lol...and have to make some sellings . Arranging my repatriating money... so many private reasons ....i am not a walking on" 1 night ice " man ????

 

Btw also only May 2022 my rented out home property comes to end the 3-6-9 lease....

Wouldn't it be cheaper and easier and quicker to just walk away from your lease, forfeiting your bond?

[david555]

4 hours ago, Leaver said:

Wouldn't it be cheaper and easier and quicker to just walk away from your lease, forfeiting your bond?

No...you misunderstood my answer , it is my house in home country is under a 3 -6-9 years and ending in May 2022.

And it is legally protected untill end date.Also it is a good earning ????,

 

And together with my money to repatriate ,and also my complete Thai empty rented appartment which i fillid up with all the needed furnishures from toothpick over to end AC  i bought everything and like to get something back from the value 

 

.....i am not "a travell light 22 sqm cage tourist way "renter ???? .

It pleased me all the time as empty app. are difficult to find ,surprisingly as so many condos in Pattaya ...???? but all owners like the highest possible dream return ( dreamers luck or loose...) ,saved me much bucks for the approx 250 000 Thb investment for it ( as first original plan to buy a condo anyway so i could use them for that too....)

BUT THERE THE PLAN CHANGED... as no condo shall be bought in Thailand , thus saved me also more than 3 years high rent & especial no exchange rate pain now ….as enough Kevlar bulletproof baht ( it seems..) present on KK bank , so that brexit disaster dont disturb me ...????

 

On the contrary ,for me personnaly my dear Euro may stay as low as possible against Thai baht , if possible untill the Thai bills get exchanged to Euro bills but understanding this is not the same for many other westerners.????

 

 

 

Edited April 20, 2020 by david555

[SwissCheeseMan]

On 4/17/2020 at 9:01 PM, Leaver said:

As another member said, an insurance company is still just a company, like a bank is, and companies can go broke.  

 

The question is, will the Thai government deem the bank and/or the insurance company too big to fail, and bail them out, should the need arise?

It's possible the Thai banks and the Thai government can go broke.  The guarantee is worthless.   

[Leaver]

On 4/22/2020 at 6:32 PM, SwissCheeseMan said:

It's possible the Thai banks and the Thai government can go broke.  The guarantee is worthless.   

It's possible, but highly unlikely they all go broke.  That said, who would loan money to the Thai government, or a Thai bank, now?  They both would be a bad risk. 

[SwissCheeseMan]

On 4/24/2020 at 9:50 PM, Leaver said:

It's possible, but highly unlikely they all go broke.  That said, who would loan money to the Thai government, or a Thai bank, now?  They both would be a bad risk. 

The Thai government is asking wealthy Thai individuals to help.  Either the government is playing poor, or is poor.  If it's the government guaranteeing bank deposits, that's not a good sign.  

[Leaver]

4 hours ago, SwissCheeseMan said:

The Thai government is asking wealthy Thai individuals to help.  Either the government is playing poor, or is poor.  If it's the government guaranteeing bank deposits, that's not a good sign.  

The longer this crisis continues, there will be pressure on the Thai government to open up the books.  It's then that the scale of theft and misappropriation may be discovered.  

[topt]

5 hours ago, SwissCheeseMan said:

The Thai government is asking wealthy Thai individuals to help.  Either the government is playing poor, or is poor.  If it's the government guaranteeing bank deposits, that's not a good sign.  

I think if you read the original letter he released he didn't specifically ask for financial help in the way most people seem to have taken it. A moot point if you read this -

 

 

[Leaver]

On 4/29/2020 at 10:04 PM, topt said:

I think if you read the original letter he released he didn't specifically ask for financial help in the way most people seem to have taken it. A moot point if you read this -

 

 

Do you have confidence in the Thai government to deliver on their bank deposit guarantee, should they need to? if so, can you say why? 

[topt]

51 minutes ago, Leaver said:

Do you have confidence in the Thai government to deliver on their bank deposit guarantee, should they need to? if so, can you say why? 

Simplistically yes unless we were to get a repeat of 1997 or similar which I don't believe will happen.

 

As a number of people in different threads have suggested why they also don't think it will re-occur I have no intention of revisiting those arguments.

 

I appreciate others (like you) have espoused a different view and can respect that you have made your choices accordingly. 

 

[Leaver]

11 minutes ago, topt said:

Simplistically yes unless we were to get a repeat of 1997 or similar which I don't believe will happen.

 

As a number of people in different threads have suggested why they also don't think it will re-occur I have no intention of revisiting those arguments.

 

I appreciate others (like you) have espoused a different view and can respect that you have made your choices accordingly. 

 

I actually think having no large sums of money in a Thai bank is the guarantee. 

 

This means there is no need to be concerned about the Thai banks, or the Thai government. 

 

Now that is "simplicity."   ????

[Leaver]

On 4/20/2020 at 8:37 PM, david555 said:

It pleased me all the time as empty app. are difficult to find ,surprisingly as so many condos in Pattaya ..

With so many empty condo's in Pattaya, that can equate to so many empty businesses as well.  While that may be good for having a large selection of rental properties to chose from, that doesn't exactly make Pattaya a vibrant and economically prosperous city into the future.  

 

I like Pattaya for the choice and variety the city offers, but if the virus decimates business, and that's looking more likely every week that passes, it may not be a nice place to live, until it recovers.

 

Sure, you can get cheap rent, but will you want to live in Pattaya until it recovers?  

 

 

[david555]

56 minutes ago, Leaver said:

With so many empty condo's in Pattaya, that can equate to so many empty businesses as well.  While that may be good for having a large selection of rental properties to chose from, that doesn't exactly make Pattaya a vibrant and economically prosperous city into the future.  

 

I like Pattaya for the choice and variety the city offers, but if the virus decimates business, and that's looking more likely every week that passes, it may not be a nice place to live, until it recovers.

 

Sure, you can get cheap rent, but will you want to live in Pattaya until it recovers?  

 

 

The starting point was ....why i do not leave now and wait 2 years ..?

Well i try to explain that, but seems we are drifting away from start.

 

One thing seems common understanding : ...Pattaya is no more the one from before , i can even no more hop over now once in a 2 years Europe...as i can not come back ....???? to arrange my leaving , ....blocked in ex Paradise....????

 

 

[Leaver]

On 5/6/2020 at 2:51 PM, david555 said:

One thing seems common understanding : ...Pattaya is no more the one from before

Just how different it will be is yet to be seen, but for sure it will be different.  

[Leaver]

On 4/20/2020 at 8:37 PM, david555 said:

BUT THERE THE PLAN CHANGED... as no condo shall be bought in Thailand ,

Wise decision.  

[Leaver]

On 5/1/2020 at 10:33 PM, topt said:

Simplistically yes unless we were to get a repeat of 1997 or similar which I don't believe will happen.

Are you still firm in your belief?

[Leaver]

On 5/1/2020 at 10:33 PM, topt said:

Simplistically yes unless we were to get a repeat of 1997 or similar which I don't believe will happen.

Still don't believe it will happen?  

[topt]

10 hours ago, Leaver said:

Still don't believe it will happen?  

In terms of the banks and deposits I am maintaining my view. 

[Andy from Kent]

On 4/9/2020 at 10:05 AM, scubascuba3 said:

Yep, but people should have known that when they opened the account

 

Right-O      that document we signed in Thai stated it clearly in large type didn't it? ????

[scubascuba3]

41 minutes ago, Andy from Kent said:

 

Right-O      that document we signed in Thai stated it clearly in large type didn't it? ????

research before opening 

[Saltire]

Around 2008 I opened a cash ISA with an Icelandic bank who were advertising heavily in the UK. When 3 of the main Icelandic banks crashed I was pretty sure it would be difficult to claim anything back. However it was a doddle, claim online with the banks website and the money was returned (am pretty sure by UK insurance, not Iceland) in about 2 weeks.

 

Can't see that happening here though.

 

Fingers crossed!

 

[Leaver]

11 hours ago, topt said:

In terms of the banks and deposits I am maintaining my view. 

Is there a genuine "safety net" here for deposits?

[topt]

4 minutes ago, Leaver said:

Is there a genuine "safety net" here for deposits?

You want to revisit the same discussion from 4 months ago or however long ago it was - because if so I am not interested thanks. 

 

 

[Leaver]

10 minutes ago, topt said:

You want to revisit the same discussion from 4 months ago or however long ago it was - because if so I am not interested thanks. 

 

 

I would suggest the the risk has increased since 4 months ago.