Keeping some money here

[loopz]

I have plans to move back home for a few years and then come back here. 

 

I have some savings (a few hundred thousands) in my bank accounts here, and my plan is to keep it here, and withdraw money back home from my Thai bank account when needed.

 

Will that be a problem if I keep doing this for a longer period of time?

 

Will the bank question why money is always withdrawn from abroad and eventually cut the possibility to do that? Or contact me and make it a hassle to make it possible to withdraw money again?

 

 

 

[williet98248]

Try asking your bank.

[Kabula]

In view of the worldwide current events and financial retreats that is a hard question to answer.

 

I've been doing all my banking in Thailand for 9 years without any local problems.  I've used my Thai bank ATM card in America and it worked great.  With the US$ retreating vs the THB if you use your Thai ATM card you will get a good exchange rate, especially in the future I believe, but do consider the ATM costs.

 

The best advice I can give you is don't have all your eggs in one basket!

 

Good luck.....

[natway09]

This never did pose a problem for me & could withdraw from Oz whenever needed.

Bangkok Bank never made any noises about withdrawing from overseas, & although exchange rates good 

there is a 200Bht ATM fee everytime.

Just check with your bank to make sure everything OK

[loopz]

5 hours ago, Kabula said:

In view of the worldwide current events and financial retreats that is a hard question to answer.

 

I've been doing all my banking in Thailand for 9 years without any local problems.  I've used my Thai bank ATM card in America and it worked great.  With the US$ retreating vs the THB if you use your Thai ATM card you will get a good exchange rate, especially in the future I believe, but do consider the ATM costs.

 

The best advice I can give you is don't have all your eggs in one basket!

 

Good luck.....

 

Thank you, yeah I have some savings back home as well so all eggs are not in one basket, but still, it would create lots of problem if the bank all of a sudden would decide to cut off the possibility to withdraw from abroad.

 

 

[loopz]

1 hour ago, natway09 said:

This never did pose a problem for me & could withdraw from Oz whenever needed.

Bangkok Bank never made any noises about withdrawing from overseas, & although exchange rates good 

there is a 200Bht ATM fee everytime.

Just check with your bank to make sure everything OK

 

 

For how long did you do that? And what amounts did you withdraw? 

[manfredtillmann]

you have 'a few hundred thousands' in a thai bank account and not being able to draw on them would present 'lots of problem'?

'a few hundred thousand' don't even buy you 6 months rent in australia.

take the money out in cash before you leave, declare it at out and in airports and you'll have no more worries.

[khunPer]

With the newer Visa-ATM's you should be able to withdraw abroad – some banks advertise – but it may not be "good business" for you, due to fees.

Try to ask your bank.

[chiang mai]

Most banks charge a monthly inactivity fee if the account is not used for a specific period of time, best to ask your bank what their rules are.

[loopz]

20 hours ago, khunPer said:

With the newer Visa-ATM's you should be able to withdraw abroad – some banks advertise – but it may not be "good business" for you, due to fees.

Try to ask your bank.

 

Yes, will ask the bank about fees, but I am more concerned about wether or not it's standard practice to cut off the possibility to withdraw from overseas.

 

 

6 hours ago, chiang mai said:

Most banks charge a monthly inactivity fee if the account is not used for a specific period of time, best to ask your bank what their rules are.

 

That is interesting, need to ask about that as well. Thanks. 

 

 

 

[Ricardo]

Maybe I'm too cynical, but in these troubled times I think you also need to consider, just how sound any bank is ?

 

Thailand does protect account-holders, but the protection-limits here are planned to be reduced, as I understand it.

 

http://www.thaiwebsites.com/deposits-insurance.asp

 

This won't affect the OP, but might be relevant to some other posters ?