Bank deposit protection cut to THB1 million from August 11

Coffee said:
A true relationship is always built on trust (and reality). Good on you.

(It'd be so much better if they'd sold their homes and cash out the bank accounts for making merit in the next life by donating it all to their local wat. ;-)
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How are the monks "thieving"? Hmmm*

@Prakhonchai Nick 555

*Thank u @Yorky
 
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I dont think the 1 m bath insurance cover theft - think it is only if the bank goes broke... we have the same here - max eur 100.000 per account.
A friend of mine had bht 150 k vanish from his Kasikorn bank account.. unlucky for the bank his wife is high ranking internal affair cop in BKK. Five minutes after she entered the bank (dressed in full uniform) the money reappeared by magic once again in the account.... "a simple mistake" and nothing to do with account holder being a farang.... they said ......
 
I m reading this from a BKK post article in Apr/2016- The Deposit Protection Act 2012 call for a cut in the ceilings for deposit gtees to B1M per depositor per Bank from B25M by
Aug /11 that year 2016.
However the Cabinet in Apr/2016 extended everything in stages,so we are now down to B1M per person(ie if you have a Jt a/c it B2M.
The delay was meant to allow time for adjustment /financial planning the BOT Governor stated.
 
If a bank goes "tits-up", as has happened previously. whilst the first 1 million is guaranteed by the government and will be paid, it won't be instant,. but more likely to take a minimum of several weeks. It would be prudent for everyone to keep a reasonable sum of money "under the bed" to tide one over.
 
Yorky said:
My wife tells me that the panic has started as punters draw money from their bank accounts (to do with I know not what).
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Many places are at the end of their savings and will be be closing down soon. Some have around 3 to 6 months money left to stay open. What amazes me are the people opening up a business right now and starting out. And there is no end in sight for the Delta spread. Many are giving up and moving out to their villages to wait this pandemic out and start afresh. Why pay rent when you don't have customers and the government will not let you run your business? Restrictions are killing the businesses. I am not including my place in this, as we are doing well enough and have steady custom still, including take away and delivery as well as dine in so far. Others that depend on nightlife, alcohol sales, tourists, music venues, etc are getting killed. Wait until all the building owners stop getting their rent incomes for another year. :-O

I hope they were all happy with their Songkran holidays. Those were some costly holidays.
 
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