Can the military coup affect my bankaccount?

[myluckythai]

Not sure how this can work out, or how it did last time in 2006. If i remember correct, last time it did not affect bankaccounts or business ventures,money transfers and what not BUT... Will there be a possibility that foreigners or even natives will have their bankaccounts frozen? Is it possible or wise to tranfer money out until things are back to normal? If anyone even can have a sensible answer to this please share

Edited May 23, 2014 by myluckythai

[Mario2008]

Only the accounts of some politicians with big bank accounts might have their accounts frozen. There is nothing to suggest that bank accounts of other people will be frozen. Why should they?

[myluckythai]

Only the accounts of some politicians with big bank accounts might have their accounts frozen. There is nothing to suggest that bank accounts of other people will be frozen. Why should they?

I don't think this will happen too,but is there any sense in what they are doing?

[Mario2008]

That is a political discussion, which we only allow in the news forum.

All I can say is that there are no reasons to block accounts or forbid money leaving Thailand.

[myluckythai]

That is a political discussion, which we only allow in the news forum.

All I can say is that there are no reasons to block accounts or forbid money leaving Thailand.

Then can you move it there or do i have to do this myself? and further more there are many things done for no reason right now so being sure that there is logical reasoning is not the issue but more what might be expected

[Mario2008]

It is fine here, as long as it doesn't turn into a political discussions. Just stick to the possible effects on the economy, bank accounts etc. The economical consequences.

Former coups indicate you have nothing to worry about your bank account. The currency exchange rate might be something different, but seems a bit early to tell.

[GavinK]

11:45 and local branch of KBank in BKK not open yet (normally opens at 11:00 sharp) and ATM's only able to disperse 20 baht notes...

[Pib]

11:45 and local branch of KBank in BKK not open yet (normally opens at 11:00 sharp) and ATM's only able to disperse 20 baht notes...

Assuming you mean twenty 1,000 baht notes as 100 baht notes is the smallest note an ATM will usually dispense. Additionally, a lot of ATMs have a normal limit of 20K withdrawal per translation. But for those ATMs that start running low on cash, they will automatically start limiting the amount per transaction, like down to around 10K/transaction, to ensure they don't run dry too soon....I can see that happening a lot more as many people may be unsure if they can access funds later.

[chiang mai]

A huge volume of ATM's exist around Thailand, it's a massive number, if one is void of cash, go to another one!

The concept of a bank run, based solely on the the fact that a single ATM can't dispense cash, require urgent medical consultation.

[hobz]

A huge volume of ATM's exist around Thailand, it's a massive number, if one is void of cash, go to another one!

The concept of a bank run, based solely on the the fact that a single ATM can't dispense cash, require urgent medical consultation.

Cyprus and Greece will be recent examples where panic made banks stop withdrawals.

However, there is nothing that suggests that the same would happen here.

[SheungWan]

A huge volume of ATM's exist around Thailand, it's a massive number, if one is void of cash, go to another one!

The concept of a bank run, based solely on the the fact that a single ATM can't dispense cash, require urgent medical consultation.

Cyprus and Greece will be recent examples where panic made banks stop withdrawals.

However, there is nothing that suggests that the same would happen here.

Cyprus and Greece are completely different scenarios. We might as well throw in references to Argentina, Zimbabwe, Ukraine and North Korea while we are playing the irrelevant references to Thailand parlour game.

[Langsuan Man]

If memory serves me correctly, after the new government had been installed after the coup in 2006 they limited the amount of foreign currency that could be transferred into the country at one time, which was the equivalent of 20,000 dollars US. The banks had to issue a foreign currency certificate with the reason stated. Living expenses was a satisfactory reason

This requirement was eventually dropped when the new government realized that speculators were not going to push down the value of the Thai Baht, like they did during the economic crisis of 1997

I really don't see them doing any such thing this time around since the Thia Baht has remained relatively stable throughout this latest "crisis"