Thai Baht Rush On Banks

[blabla1]

Hi All, people are telling me to take out money from my account, is this because the banks are running out of money and can't get delivery or is there something else happening?

[Langsuan Man]

Which people are telling you that ? Sounds like the Chicken Little, the Sky is Falling , Brigade

One thing this country will never run out of is MONEY

[pomchop]

Let's hope it is not a Thai bar girl with a sick water buffalo or similar or a Nigerian on Soi 3 bkk suggesting you take money out of the bank and let them hold it for you.

Otherwise I suspect your money will be just fine staying right there in the bank vault.

[Jingthing]

I think a lot of people, including me, have taken out at least a month or two of cash expenses. I reckon there are many millions who have done that. Considering paper money is a commodity (with a supply and demand), and there are transport and operational functions in filling the machines needed, it wouldn't shock me if the banks are not prepared fully for such an unexpected dramatic run on cash.

Edited October 30, 2011 by Jingthing

[pomchop]

I think a lot of people, including me, have taken out at least a month or two of cash expenses. I reckon there are many millions who have done that. Considering paper money is a commodity (with a supply and demand), and there are transport and operational functions in filling the machines needed, it wouldn't shock me if the banks are not prepared fully for such an unexpected dramatic run on cash.

Just went to ATM one hour ago. No problems at all in CR that i am aware of. Maybe the OP is in BKK or a flooded area where they can't service the atm's or people taking money as they are leaving town for few days.

[Langsuan Man]

Since this is in the Chaing Rai Forum , can't we assume that the OP is in Chaing Rai, which to my knowledge is having no flood related problems

[Jingthing]

I don't think flooding or no flooding is the point. People in Thailand are aware of what is happening in Bangkok and what might happen there for several weeks. Bangkok is the center of everything in Thailand and I reckon many people all over Thailand are withdrawing more cash than they usually do just in case there is some kind of national crisis than impacts the entire country.

Edited October 31, 2011 by Jingthing

[changraider]

I think a lot of people, including me, have taken out at least a month or two of cash expenses. I reckon there are many millions who have done that. Considering paper money is a commodity (with a supply and demand), and there are transport and operational functions in filling the machines needed, it wouldn't shock me if the banks are not prepared fully for such an unexpected dramatic run on cash.

Just went to ATM one hour ago. No problems at all in CR that i am aware of. Maybe the OP is in BKK or a flooded area where they can't service the atm's or people taking money as they are leaving town for few days.

Agreed PC, and one or two of the banks have temporarily closed some operations due to flood-related head office issues in

Bangkok. But it's been good for local business - hotel full with Bangkok refugees, and just see all those Bkk plates on the roads - I even saw a Bkk taxi in the depths of the CR countryside this afternoon. The only downside for me has been a charming hi-so refugee who more or less has IPAD hand, eye and ear implants, but at least she is now learning where her daily rice comes from :-) but seriously it's not a laughing matter and the village has sent what seems to me to be a large amount of flood relief for those less fortunate in Bkk.