Ukraine ... Enlighten yourself

[Kf6vci]

A retired mate has all his eggs in one basket. It's a leading Thai Bank, but times they are changeing. Hope someone knows what kind of guarasntees and protections are available. If none, Standard chartered or some other foreign owned babnk might be a better alternative.

[meom]

There's supposed to be unlimited protection until aug. 2009 and a scaling down over a 5 year period from unlimited to 100 million to 50 million to 10 million to 1 million.

(see http://www.pbpress.com/controlPanel/download.php?id=274)

There was another proposal to extend the unlimted protection for another 3 years but not sure what happen to that.

Btw if you read the link above it is mentioned that non resident baht accounts are excluded. No sure if that means they are excluded altogether or maybe fall under another protection racket

[12DrinkMore]

Oh gawd, here we go. As if we don't have enough problems with the Farang banks.

But what is this "non resident" bank account?

I have opened deposit accounts using my retirement visa. Are these "non-resident"?

I know we are ruled by the TIT law. But I hope that if a Thai bank went insolvent they would not turn around and say,

"you Farang, very rich, we don't pay your money". :D :D

But I guess the amount of foreign owned deposits is relatively small compared to Thai.