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Transfer with Transferwise to your home country account. In Europa your money is guaranteed up to €100.000. In Thailand I don't know the amount which is guaranteed. 

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Why play anything straight in a country that's as bent as a cork screw?  It makes no sense at all.

 

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17 hours ago, Vigilante said:

The govt will print or borrow money to compensate the acct holders

Even Greece didn't have a haircut on deposits (with a debt of 150% of GDP)

..and in Cyprus,  the haircut was for accts over 100k Euros

 

However, if we enter a zombie apocalypse senario, all bets are off.

 

Gold (the thai version) has its own host of problems but I won't elaborate

 

 

Cyprus had a lot of "new citizens" and "residents" with very large bank balances, and with very Russian sounding names, who they new would find it difficult to complain too much when the Cypriot government stole large chunks of their money.

 

Made it a worth while enterprise for the Cypriot government.

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I was going to reply, "Safe as houses". Then I remembered what caused the 2008 crash!

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43 minutes ago, giddyup said:

1 million Baht, and there is no guarantee there won't be a run on European banks either.

 

Given the severity of the lock downs, and numbers of infections and deaths there could well be, However, as long as ATMs are kept stocked and on-line banking is available only those prone to panic will panic. The ones who've bought years' loads of toilet paper etc.

 

Besides, many people ain't got the savings to run for these days!

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Unless you need the money soon to renew your visa I would seriously think about taking out the bulk of it.... Maybe there is no bank run, but if the ATMs go down or anything else, cash will be king... Better to be prepared for the worst. Risk assessment. 

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1 hour ago, giddyup said:

1 million Baht, and there is no guarantee there won't be a run on European banks either.

Currently 5 million until early August when it reduces to 1m - if they go through with the reduction.

http://www.dpa.or.th/en/site/index

 

Scroll down to Knowledge and then click on Coverage of Insured products

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If the global economy collapses, you can't eat gold or any currency. 

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2 hours ago, giddyup said:

1 million Baht, and there is no guarantee there won't be a run on European banks either.

You make a good point, but I would still favor a bank in my home country, over a Thai bank, in these circumstances. 

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Your money is protected under the Deposit Protection Act.  After August it reduces to one million which, should the bank or financial institution go down, the protected amount is paid immediately.  Any cash greater than the protected amount needs to be claimed from liquidity.

Ideally, hold no more than a million in any one bank.  Spread it to other banks.

 

Source: http://www.dpa.or.th/site/index

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Cant understand why people put 800000 in a bank and on a OA visacan only draw 400000 when you only need to show 65000 going into bank every month and keep your money and on O visaonly 40000 a month not make sence to me 

  • Haha 1

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8 minutes ago, Philipg114763 said:

Cant understand why people put 800000 in a bank and on a OA visacan only draw 400000 when you only need to show 65000 going into bank every month and keep your money and on O visaonly 40000 a month not make sence to me 

Well..many of us are not retirees

How can I show the 65k a month?

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2 minutes ago, Vigilante said:

Well..many of us are not retirees

How can I show the 65k a month?

Simple you take your 800000 out the bank and transfer it from a bank outside thailand and 65000 every month into a thai bank 

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7 hours ago, Mops59 said:

Transfer with Transferwise to your home country account. In Europa your money is guaranteed up to €100.000. In Thailand I don't know the amount which is guaranteed. 

Transferwise transfers into Thailand, but not out.

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