How safe is my money in Thai bank?

[parafareno]

Does the EU government have a power to take your money from thai bank?

Also if I made a transfer from EU, can I keep money in EUR in Thai bank and then withdraw it anytime I want

I have read on forums that it is impossible to get the money out of thai bank, out of coutry, I dont know....

please I need more info

[beechguy]

You don't know, because you were to lazy to be bothered to read? Try the search function. This has all been discussed dozens of times, including opening a Euro account. I haven't ever had a problem transferring money out,

I would be surprised if the bank websites don't have the very information you are looking for.

Edited July 4, 2015 by beechguy

[NeverSure]

^^^ Nice guy.

[beechguy]

^^^ Nice guy.

Actually, I am a pretty nice guy, but holy crap, how many times do we have to keep answering the same questions. Reminds of the visa section, and answering 90 day report questions.

[chiang mai]

Reminds me somewhat of the poster who started a thread asking how much a large cheese pizza costs from Pizza Company!

[cooked]

Buy gold if you are worried about the EU taking ill gotten gains off you.

[NeverSure]

^^^ Nice guy.

Actually, I am a pretty nice guy, but holy crap, how many times do we have to keep answering the same questions. Reminds of the visa section, and answering 90 day report questions.

Actually I doubt if anyone's answered questions for him before.

OP, If you're worried about Euros why wouldn't you want to get out of Euros? You know you can buy something in GBP that's is solid as Britain is, like British Government Bonds. I'm not at all saying that's what you should do, I just don't understand the question.

[hhgz]

It reminds me of the guy who started a thread to complain bitterly that he didn't receive a 2THB senior citizen discount from an 8THB bus fare.

[watcharacters]

^^^ Nice guy.

Actually, I am a pretty nice guy, but holy crap, how many times do we have to keep answering the same questions. Reminds of the visa section, and answering 90 day report questions.

If a sincere post or section of the forum (visa section) bothers you, why don't you simply ignore it?

[parafareno]

You don't know, because you were to lazy to be bothered to read? Try the search function. This has all been discussed dozens of times, including opening a Euro account. I haven't ever had a problem transferring money out,

I would be surprised if the bank websites don't have the very information you are looking for.

oh I am so sorry beechguy, or is it beach guy, slight English spelling mistake, or missing school a lot

I am thinking about you all night, I am so sorry, my post got you upset so much, what happened, did you miss baht bus and not chump on your tom yum, or did you miss taking you farm fresh missus to some cheap restaurant?

whay so upset?

I know money is time, and answering my post took about 1 minute of your life, but who knows, maybe that 1 minute is enough that your missus got a fit and broke a vase on your gumba head?

[parafareno]

^^^ Nice guy.

Actually, I am a pretty nice guy, but holy crap, how many times do we have to keep answering the same questions. Reminds of the visa section, and answering 90 day report questions.

If a sincere post or section of the forum (visa section) bothers you, why don't you simply ignore it?

the guy is gumbaya, got himself a farm fresh girlfriend, he paid a lot of money to her family, then finding our "she" hides a secret down below, where are you from? I suspect India

Edited July 5, 2015 by parafareno

[topt]

^^^ Nice guy.

Actually, I am a pretty nice guy, but holy crap, how many times do we have to keep answering the same questions. Reminds of the visa section, and answering 90 day report questions.

If a sincere post or section of the forum (visa section) bothers you, why don't you simply ignore it?

the guy is gumbaya, got himself a farm fresh girlfriend, he paid a lot of money to her family, then finding our "she" hides a secret down below, where are you from? I suspect India

OP have you heard the saying 2 wrongs etc?

I will however attempt to answer your queries (even though I partially agree with beechguy )

1 - I would say no unless you are a terrorist or major criminal (you aren't are you ? ) and they asked the Thai govt. to freeze your accounts. Thai govt. may still refuse anyhow.

2 - Yes you can open a foreign currency deposit account in Euros and there will be no charge for converting and removing in Baht. If you want to take out cash in Euros it will cost you.

3 - Transferring Euros back out should not be an issue. Make sure you get a copy of the inward foreign remittance form for your records and say it is for investment or buying a condo - whether you are planning this or not is irrelevant.

[ttthailand]

I could be slightly off but if you don't work in Thailand and have a work permit and if your money just comes in in small amounts monthly I don't believe you can wire money out of country from a bank. I wanted to wire about 100,000. Baht ($3,000.00 US) and my bank basically said I could not. Without digging deeper I just had a Friend wire the money for me. If I am mistaken please correct me and provide info on requirements.

[Chivas]

I thought the thread was about how secure your Thai Baht was in a Thai Bank. Inotherwards are some potentially to go bust and what if any compensation scheme is in place

[ttthailand]

I thought the thread was about how secure your Thai Baht was in a Thai Bank. Inotherwards are some potentially to go bust and what if any compensation scheme is in place

The op asked a few questions you should take another look.

[Chivas]

I thought the thread was about how secure your Thai Baht was in a Thai Bank. Inotherwards are some potentially to go bust and what if any compensation scheme is in place

The op asked a few questions you should take another look.

What....??

What was my second word of my Post....??

[swissie]

As far as "money out of Thai bank, out of country" is concerned, I always thought, that transferring money to a Bank outside of Thailand is hassle-free, as long as the amount is not higher than 9999 US$ (or the currency equivalent thereof.)

Or has that changed in the meantime ?

Cheers.

[chiang mai]

The rules for transferring out are:

Proof that the funds came in from overseas originally, and/or

Earned in Thailand under a work permit, and/or.

Sale of a property where tax has been paid on the sale, and/or

A Thai national meeting one or more of a set of criteria for transferring money overseas, and/or.

I think those are the major ones unless I've forgotten one.

[Soutpeel]

The rules for transferring out are:

Proof that the funds came in from overseas originally, and/or

Earned in Thailand under a work permit, and/or.

Sale of a property where tax has been paid on the sale, and/or

A Thai national meeting one or more of a set of criteria for transferring money overseas, and/or.

I think those are the major ones unless I've forgotten one.

supporting family members overseas is the other

[beechguy]

You don't know, because you were to lazy to be bothered to read? Try the search function. This has all been discussed dozens of times, including opening a Euro account. I haven't ever had a problem transferring money out,

I would be surprised if the bank websites don't have the very information you are looking for.

oh I am so sorry beechguy, or is it beach guy, slight English spelling mistake, or missing school a lot

I am thinking about you all night, I am so sorry, my post got you upset so much, what happened, did you miss baht bus and not chump on your tom yum, or did you miss taking you farm fresh missus to some cheap restaurant?

whay so upset?

I know money is time, and answering my post took about 1 minute of your life, but who knows, maybe that 1 minute is enough that your missus got a fit and broke a vase on your gumba head?

No, Beech is the proper spelling. It is the name of what started, as a family company, that has produced thousands of aircraft, but any dumbass should have known that, before making a stupid comment.

I would suggest that someone too lazy and illiterate to read the available information, should probably just stay home, and put your Euro's under the mattress. But, perhaps you'll have a good sick buffalo story, or how you lost the house.

Edited July 5, 2015 by beechguy

[beechguy]

^^^ Nice guy.

Actually, I am a pretty nice guy, but holy crap, how many times do we have to keep answering the same questions. Reminds of the visa section, and answering 90 day report questions.

If a sincere post or section of the forum (visa section) bothers you, why don't you simply ignore it?

I quite often do, but some posts I find irritating. It's not that the original questions are stupid, but after they have been asked dozens of times, then they do become stupid. Everything this op has asked, can be found on the front page of this forum, and heaven forbid, someone use the Search function, or read the Pinned Topics Section.

[MaeJoMTB]

I took the OP to be worrying about the Euro, and looking for a safe place to stash the cash.

Greece just froze all bank accounts, before that Cyprus.

Banks are getting pretty damn scary.

So trying to answer the question as I see it,

No, I think Thai banks have just as much chance of freezing assets as any Euro country bank.

There are a lot of bad events stacking themselves up in Thailand.

Edited July 5, 2015 by MaeJoMTB

[parafareno]

I took the OP to be worrying about the Euro, and looking for a safe place to stash the cash.

Greece just froze all bank accounts, before that Cyprus.

Banks are getting pretty damn scary.

So trying to answer the question as I see it,

No, I think Thai banks have just as much chance of freezing assets as any Euro country bank.

There are a lot of bad events stacking themselves up in Thailand.

I am not talking about greeze, I am talking about transfering a million to Thailand for condo possibly, and if later I change my mind I can ust take it out in euros and bring it back to EU?

I am afraid if the EU gov will make my money be frozen in this bank, if I have a debt in EU?

Also if I have regular paypal transfers to thai bank, will I be able to withdraw that money or should I just use that money on ATM machines, becuase I will not be able to transfer it out ebcause it came via paypal?

I am not supporting farm fresh missus as beechwhale is that is why he is so cranky, but still I am worried...

and do the banks report to EU how much money you have?

[beechguy]

I took the OP to be worrying about the Euro, and looking for a safe place to stash the cash.

Greece just froze all bank accounts, before that Cyprus.

Banks are getting pretty damn scary.

So trying to answer the question as I see it,

No, I think Thai banks have just as much chance of freezing assets as any Euro country bank.

There are a lot of bad events stacking themselves up in Thailand.

I am not talking about greeze, I am talking about transfering a million to Thailand for condo possibly, and if later I change my mind I can ust take it out in euros and bring it back to EU?

I am afraid if the EU gov will make my money be frozen in this bank, if I have a debt in EU?

Also if I have regular paypal transfers to thai bank, will I be able to withdraw that money or should I just use that money on ATM machines, becuase I will not be able to transfer it out ebcause it came via paypal?

I am not supporting farm fresh missus as beechwhale is that is why he is so cranky, but still I am worried...

and do the banks report to EU how much money you have?

Oh good, you're back. I realize you probably aren't literate enough to read an understand this, but with the exception of Bangkok Bank link, all of this was on the front page that you were too lazy to read.

This took about 2 minutes to find with a web search.

http://www.bangkokbank.com/BangkokBank/PersonalBanking/Pages/Default.aspx

Front Page, even without searching .

http://www.thaivisa.com/forum/topic/127371-onshoreoffshore-exchange-rates-and-money-transfers/

http://www.thaivisa.com/forum/topic/204188-restrictions-for-incoming-money/

http://www.thaivisa.com/forum/topic/260738-opening-a-new-bank-account-in-thailand/

http://www.thaivisa.com/forum/topic/836283-transferring-money-out-of-thailand/

In addition, there is a Real Estate Forum that may give some useful information, but I guess you are to lazy to look at that also.

Some analyst expect the Euro/USD to go $1.20, later this year. I don't know how that will be reflected in Thai Baht. But, if it were me, I would expect the eventual collapse. Depending on where you are at, maybe consider cashing it in for Russian Rubles.

[beechguy]

^^^ Nice guy.

Actually, I am a pretty nice guy, but holy crap, how many times do we have to keep answering the same questions. Reminds of the visa section, and answering 90 day report questions.

Actually I doubt if anyone's answered questions for him before.

OP, If you're worried about Euros why wouldn't you want to get out of Euros? You know you can buy something in GBP that's is solid as Britain is, like British Government Bonds. I'm not at all saying that's what you should do, I just don't understand the question.

Notice the links I posted. Basically, his questions were answered before he asked, he was just too lazy to try to read and learn anything.

[thrilled]

Some people on here are so rude.You ask A serious question ,he wants to jump down your throat.

1, Do not put all of your eggs in 1 basket.Only put as much money in A Thai bank that you can afford to lose.That also

Goes for starting A business in Thailand.What I do I spread my money around.Not only in banks but different investment companies.

[BuaBS]

" Does the EU government have a power to take your money from thai bank?"

This is going to be a big question in the coming years. We know the 'mericans have their FATCA, but the eurocriminals are following. Some of the greedy euro countries already want to know , if you have an account in a foreign EU & non-EU country. Now they want to know where , which bank and even your account number.

Is Thailand or a Thai bank going to give information about your account(s), and how much money there is , or how much interest you have received ??

Maybe for a real criminal case ( add the word : drugs , for motivation) , I'm sure the Thai will roll over and spill the beans. For tax evasion maybe not so quick. But even Singapore is not to be trusted to keep your money private and the Swiss completely bend over for the EU & USSA.

It is terrible . What you do with your money in a non EU country should not be any business of the EU.

Between Thailand and the EU zone , the EU stops at the Greek-Turkish border.

AND be glad , that you still can go to your Thai bank and take out a million or more , with no problem. So if you smell a rat , you have a window to get it all out.

Edited July 5, 2015 by BuaBS

[parafareno]

I am not a criminal at all, no drugs, crime nothing like that....

I think that the big ears messed it all up, before we had bank secrecy, now the big ears completely erased that....

how long it will take till all countries will be connected together, like EU are currently.

but even in EU, gov still does not track all your money accounts....

so maybe it is ajust a big scare.....

i know guys who work in one country in EU and are still tax related with origin country, and that country never asked them aynthing

I am glad I am not an american, where the gov snoops much more than EU I think....

and if you are USA citizen, you cant even cancel your tax residency...you pay big ears for ever for his tanks, army etc....nice one

[Srikcir]

" Does the EU government have a power to take your money from thai bank?"

Yes but not easily.

If the EU or any country or company has a court ordered judgement against you, it would have to go through the Thai judicial system to freeze or collect any of your assets in Thailand. The EU did not close Greek banks for unpaid EU debts; the Greek government did that themselves to save a run on capital by depositors.

If the EU or any country has a criminal warrant for your arrest related to stolen property (ie., IFUN), it would have to go through the Thai judicial system to freeze or collect any of your assets in Thailand.

The Thai government can freeze or nationalize your Thai bank accounts at any time but usually with legislative or judicial approval. The current Junta government need not justify such action under Article 44 of the Interim Charter. Unless you are suspected to be involved in a criminal activity, such is not likely to happen.

[MaeJoMTB]

I am afraid if the EU gov will make my money be frozen in this bank, if I have a debt in EU?

That's easy, you open two different bank accounts in Thailand.

Transfer money over to 1st bank.

Take it out as cash and walk it over to second bank.

Nobody in Europe will ever know about the second bank as there is no easy link to it.

And if they don't know about it, they can't freeze it.