6 hours ago, Middle Aged Grouch said:

Sure we trust their banks and online banking systems....only to put in the amounts one can afford to loose of course. Not to mention further rules and regulations that can suddenly change overnight and make it a nightmare...

 

In fact no bank be it in Thailand or in America can be blindly trusted with any amount more then what you can affort to loose. 

Comparing the trustworthiness of a thai bank to an american bank…absolute joke

1 hour ago, hotsun said:

Comparing the trustworthiness of a thai bank to an american bank…absolute joke

 

sorry, but i am not sure where is the absolute joke ... 

On 10/16/2025 at 8:33 PM, Stressed Eric said:

With everything that has gone on with the banks this year, account freezes/closures etc - do you still trust them?

 

For me the answer is a resounding no.

 

I have liquidated all my assets into cash and gold and completely given up on mobile banking.

 

We must resist this WEF nonsense at all costs! Cash is our single biggest asset to privacy and anonymity, and we lose that at our peril...

 

Eric.

 

The people laughing at you are the ones who cause all of these problems. The interference in people's lives and privacy is off-the-scale and totally unjustified, but they're too ignorant and naive to see that it's anything but "normal". It's amazing to see the gullibility of such otherwise intelligent people... 

On 10/17/2025 at 11:55 AM, FlorC said:

4300 now.

 

No I don't trust banks.

7 months 400k

5 months 800k

just to get the extention.

Or bring  in 65k each month and not too much worry about losing your money and earns better interest in your home country. Done this for years, no problem.

On 10/16/2025 at 9:32 PM, Larkin said:

Hasnt it been well established that if you have a long-term visa then there is no issue with accounts being frozen?

 

Is that not the case?

It is for me. Had accounts at Bangkok Bank for ten years since retiring here. Absolutely no problems whatsoever.

On 10/17/2025 at 8:50 PM, proton said:

 You really think you would get any of that back? There would be a compensation pot yes, that would soon run dry and most would get nothing, guaranteed in name only. Same happened when insurance companies went bust during covid, backed by a government compensation promise, but not many were paid back .

Gvernments print new money all the time.

American expat here
During the worst of the Pandemic, I had a problem renewing my Retirement Visa. 
So I invested in a 20y Elite Visa.
(Turned out to be a great move - I am very happy with them)

 

My wife and I live 10 hours north of Bangkok, where relatively few people have the Elite Visa.
When we went to the local SCB branch in Chum Phae, the bank manager heard about the payment, and was worried it was a scam. She had a personal contact at Immigration in Bangkok, and took her own time to contact them and verify things were legit. 
(Because of a miss understanding that the 20 year Elite Visa is actually four seperate 5 year visas, it took a few hours to sort out, as there is no "20 year visa".)

Point is, that in the end, it worked out. 

(And I doubt very much that a Manager at a USA bank would have given a flying rat's rectum about something like this.)

 

Of course, banking laws and protections in Thailand are generally not a strong as the USA - So we don't put all our eggs with one single bank here. (Same as the USA). 

 

Through 20 years of political upheaval, nationwide flooding & the like, we have never lost access to our money. Branches remained open and the ATMs worked. 

I don't trust ANY bank. I had one credit union back in Washington State that I had used for over 40 years. I had a few major credit card accounts, but all my major banking was through the credit union.

 

One day the website glitched and I was locked out. They wouldn't accept registration of a Thai cell phone and refused to verify through emails that it really was me (as we had done for YEARS). It was a serious nuisance to restore web access.

 

Long story short, I got a cell phone with a US number that all US banks accept then immediately diversified my assets to two other US accounts, as well as three Thai accounts (one is used solely for the 800k baht retirement visa requirement).

 

That old saying "don't put all your eggs in one basket" certainly applies to banks!

On 10/16/2025 at 8:36 PM, Stressed Eric said:

What?

The DPA (deposit protection agency) guarantees the first 1mil in any bank account.   If you got more than 1m.get a second bank to protect it. 

 Can anyone here confidently assert that they have THEIR OWN MONEY in a bank?

 

Not sure of the legal situation in Thailand but in U.S., U.K. and elsewhere, once you put your money into a bank account it is no longer your money.  The legal owner is the bank and you are an UNSECURED CREDITOR of the bank: amongst the last to be paid, if there is anything remaining after payment of other categories, assuming there is anything left.

 

But of course there are government guarantees, which a government can reduce if it looks like they may have to pay out.  As the British Government did not long ago.

 

Retaining one's purchasing power is a gamble these days.  It is necessary to hedge one's bets.  Hard assets, especially the more vital and in short supply are one way.  Gold longer term, silver greatest of all right now, energy especially uranium.

 

"Gold under the mattress"?  Crazy idea except as a small emergency cache.  Gold and silver can be held in physical form, if allocated and ideally segregated, but greater returns are available investing, wisely, in miners (NOT exploration companies as a rule) and above all royalty and streaming companies.

 

Yes, and hold some cash despite its loss of purchasing power.  Has many uses, especially in event of prolonged "bank holiday" and non-functional ATMs, etc.

 

Above all do some on-going personal research on global economic situation.

I trust Krungsri bank above BKB, you can have 2 accounts 2million in each and 0.9% interest after tax, also 15min max to get your statement and letter for immigration.

On 10/16/2025 at 8:33 PM, Stressed Eric said:

With everything that has gone on with the banks this year, account freezes/closures etc - do you still trust them?

 

For me the answer is a resounding no.

 

I have liquidated all my assets into cash and gold and completely given up on mobile banking.

 

We must resist this WEF nonsense at all costs! Cash is our single biggest asset to privacy and anonymity, and we lose that at our peril...

 

Eric.

Ah, your last paragraph tells us you have an agenda...by the way, where do you get you money from, then I guess you get cash from Western Union or similar

On 10/16/2025 at 8:45 PM, persimmon said:

So you rely on getting cash from the ATM as you need it ? What about the gold - how do you keep that ?

No he doesn't trust the banks so he gets cash from under his bed.

On 10/16/2025 at 8:33 PM, Stressed Eric said:

I have liquidated all my assets into cash and gold and completely given up on mobile banking.

I never even started mobile banking...

I don’t trust any banks anymore but I still use them but not as much as I used to . Gold is a good way to hold value/assets but right now I wouldn’t be buying . IMO Gold is more than ready to come down in price , as soon as I saw the sheeples lining up outside gold shops , fighting over who can buy it……red flag 💯.  If you have already been buying gold at far lower levels then great but don’t buy the top ! 

On 10/17/2025 at 6:33 PM, Everyman said:

 

There nothing better about an expat that is over 50 than is under 50. That’s the difference. 

 

I’ve heard this ridiculous argument many times and it never makes sense. 

" With age comes wisdom". The number of irresponsible young male farangs who get into newsworthy trouble here is quite high. 

On 10/17/2025 at 8:30 PM, motdaeng said:

all thai banks have become stricter with regulations. does that make them less trustworthy for some of you, or did i misunderstand something? has anyone ever lost money because of a thai bank?

 

Yes me, but it was only about 2000 Bt given away to two Cyprus companies after I warned them not to transfer to these two companies after their name popped up in my account. I have never had any dealings with any Cyprus banks.

I only kept my account going because of regular service with Wise and transferred all my money bar 2000Bt to a new account in a different bank.

On 10/16/2025 at 8:33 PM, Stressed Eric said:

With everything that has gone on with the banks this year, account freezes/closures etc - do you still trust them?

 

For me the answer is a resounding no.

 

I have liquidated all my assets into cash and gold and completely given up on mobile banking.

 

We must resist this WEF nonsense at all costs! Cash is our single biggest asset to privacy and anonymity, and we lose that at our peril...

 

Eric.

Obviously you don’t travel too much try booking airline flights hotels tours etc online using cash.

Privacy and anonymity ???

If you are living here legally the Thai government has all of your information and your home country probably more.

I trust Thai banks a little more than some nonsense posters here. but I only keep what necessary here and won't kill myself if something hit the ceiling. 

2 hours ago, Dazinoz said:

Or bring  in 65k each month and not too much worry about losing your money and earns better interest in your home country. Done this for years, no problem.

Each month forced currency exchange ? No thanks !

And be taxed ? No thanks !

 

65k method is ok if you get a pension. I do not have that.

Interest at home is the same as here <1 %...

My gold is up 50 % from the beginning of 2025.

4 minutes ago, FlorC said:

Each month forced currency exchange ? No thanks !

And be taxed ? No thanks !

 

65k method is ok if you get a pension. I do not have that.

Interest at home is the same as here <1 %...

My gold is up 50 % from the beginning of 2025.

Yes exchange rate changes, some for me good some not so good.

The 800k+ will also be taxed after tax introduced.

I didn't have a pension up to this years. Just earned higher money on silver, etc and transferred the 65k monthly. The small losses on exchange rate was well exceeded by investments back home.

If you cant get greater than 1% you haven't done your homework.

I had 100kg silver back in Oz and its up over 300%. Probably the same here but easier to purchase and manage back home.

30 minutes ago, StevieAus said:

Obviously you don’t travel too much try booking airline flights hotels tours etc online using cash.

Privacy and anonymity ???

If you are living here legally the Thai government has all of your information and your home country probably more.

You can use cash to pay for flights and hotels still, even in the UK at places like Trailfinders . Or even Travala using crypto but you will never be anonymous as you still need your passport crossing borders 😂. 

On 10/16/2025 at 8:49 PM, Stressed Eric said:

what about  when they freeze/close your account?

 

what happens to your so called million then?

My accounts won't be frozen. 

21 minutes ago, Dazinoz said:

Yes exchange rate changes, some for me good some not so good.

The 800k+ will also be taxed after tax introduced.

I didn't have a pension up to this years. Just earned higher money on silver, etc and transferred the 65k monthly. The small losses on exchange rate was well exceeded by investments back home.

If you cant get greater than 1% you haven't done your homework.

I had 100kg silver back in Oz and its up over 300%. Probably the same here but easier to purchase and manage back home.

Tax on 800 k you have in the bank now ?? BS.

Exchange rate ? Joking right. If you have AUD , it must hurt like h@ll.

 

Silver in oz is easy , you have the koalas, kookaburras and lunar coins from your own mint.

I have some of them too.

11 minutes ago, FlorC said:

Tax on 800 k you have in the bank now ?? BS.

Exchange rate ? Joking right. If you have AUD , it must hurt like h@ll.

 

Silver in oz is easy , you have the koalas, kookaburras and lunar coins from your own mint.

I have some of them too.

If you read and comprehended what I wrote about tax "The 800k+ will also be taxed after tax introduced."  If you already have it in bank no problem.

 

Why am I joking about exchange rate? If someone were to start the 800k in bank now they would get exchange rate of the date and pay tax.

 

I used ABC Bullion in Oz. never touched physical silver. Regular purchases and sold via email. No holding coins, bullion, etc.

The question should not be 'do you still trust Thai banks with your money ? ' . It should be 'do you still trust any bank anywhere with your money ? '

Thailand is my country of choice.  I have lived here for more than 35 years.  Having chosen to live here a bank account is both necessary and useful to have.  I have never had any problems with any Thai banks.  I have had accounts with five different banks, but now that I am retired I only maintain two.  One of them, by the way, is with Bangkok Bank.  I believe that all of those who complain about problems with banks are more than likely the cause of the problems.

On 10/16/2025 at 9:46 PM, Stressed Eric said:

Who says I want to stay here long term??

Hopefully you won't.  There are enough whiners here already.

On 10/16/2025 at 8:49 PM, Stressed Eric said:

what about  when they freeze/close your account?

 

what happens to your so called million then?

Why would my accounts be frozen?  I have had a long-term visa for many years and do everything legally.

No, I still have my doubts about banks in general, and especially since I can no longer make transfers via the website (SCB)
This morning, for example, due to heavy rain, I used some electricity from PEA, which resulted in a bill of about 150 baht.
So I wanted to open the bank's app, but that's where it went wrong: the app was no longer valid, so I had to download a new one.
Once that was done, I thought I could simply transfer the 150 baht, but nothing could be further from the truth. It didn't work because my balance was insufficient.

Excuse me? There's more than 10,000 THB in it, insufficient balance? Tried twice.
Gave up again, and will have someone else take care of it.

 

But above all, withdraw as much money as possible from your account and buy gold.