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Is the 800,000 baht I keep in a Thai bank safe?  Could one or some of the banks go broke here?  If I wanted to withdraw it all, can I send it home easily?  Do local branches have safe deposit boxes and if they do, would the cash be safe in there until this is all over.  I don't care about next year's extension. 

 

Moderators.  I put this in the Pattaya section because I have been told the bank branches are a bit like a franchise and my money is in a Pattaya branch.  If you think it is better off in the bank section then please move it.    

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4 minutes ago, Lacessit said:

I remember Willie Sutton, the famous American bank robber. According to him, incorrectly attributed. Be that as it may, when he was asked why he robbed banks, he responded " Because that's where the money is".

On topic, IMO Thai banks are one of the safer places to be. Nothing guaranteed, however.

Start thieving the 800K, and Thailand as a retirement destination would be finished, pussy notwithstanding.

Reading the OP I didn't get the feeling the member was worried about the theft of his money by robbery, more the bank going broke, like Lehman Brothers in the GFC.

 

I would hardly think a few bank robberies would sent a whole bank broke. 

 

 

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1 minute ago, Leaver said:

Reading the OP I didn't get the feeling the member was worried about the theft of his money by robbery, more the bank going broke, like Lehman Brothers in the GFC.

 

I would hardly think a few bank robberies would sent a whole bank broke. 

 

 

Neither do I , a bit off - topic. I was thinking more of state-sanctioned theft, a la Cyprus.

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5 minutes ago, Lacessit said:

Neither do I , a bit off - topic. I was thinking more of state-sanctioned theft, a la Cyprus.

I see.  Interesting. 

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do some research.. in USA in the late 80s there was a big banking crisis where many banks went bust... I have never heard of anything like that here but the world has never seen times like we are facing, IMO... at 800k you should be insured.. and if worried, put the money in a home safe... 

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Posted (edited)

Run with your money while you still have something...

Edited by mike787
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Your 800,000 is covered by the banking guarantee. Normally I would say its safe. However Ive already withdrawn all my funds as we have never been in a situation like this. Stories abound from other countries in lock downs where ATMs are empty, banks are closed....Thinga are going to get a lot worse befoe they get better with talk of month a brat her than weeks....your decision but I prefer my money not to be in a Thai bank at present

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