Thai savings account

**sampdoria** · 17th April 2008 10:28

Okay Leeds...so I take it you are perfectly comfortable leaving a few grand (dollars, pounds, etc.) in the Thai banking system?

**LeedsLeedsLeeds** · 17th April 2008 10:33

More than just a few grand mate.

**SageAndOnion** · 17th April 2008 11:11

Originally Posted by tafy68

The Bank of England did give some emergency loans to Northern Rock (Bailout?)

Yes bailout. Northern Rock has been nationalized and before the government reluctantly took this step they underwrote some 35 billion of loans as far as I remember.

There was nobody willing to buy it at terms that were acceptable to the government, so I would say that was 100% a bailout. It woud have gone under otherwise.
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I'm perfectly comfortable leaving money in the Thai banking system. They seem to be efficient from my dealings with them. I had an incident where an ATM said I had withdrawn 10,000 baht which never actually came out of the machine. I went inside the branch and within ten minutes they had reversed the transaction (took my UK bank somewhat longer to sort out, and they started by trying to pretend it was a completed transaction (which it wasn't) and would take six weeks or so for me to claim back).

**sampdoria** · 17th April 2008 14:06

Originally Posted by LeedsLeedsLeeds

More than just a few grand mate.

Must be nice...

I guess the Gilligan look helps people underestimate your considerable holdings...

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S&O, tha actually sounds quite reassuring.

Are there any well known 'eastern' bank out there...HSBC, ICICI?

AJ · 17th April 2008 15:40

Originally Posted by Cawphad Guy

About a year ago, my wife and I opened a joint bank account with Bangkok Bank.

We deposited 100,000 baht.

The lady at the bank told us that if we put our money into a 'you cannot use money for one year' account (which I presume is a fixed rate savings account), the bank would give us 16,000 baht at the end of the year.

No way, certainly not these days. If such interest rates were on offer at all in Thailand, then maybe 10 or 12 years ago.

**pauleddy** · 17th April 2008 15:53

The UK rates of return are getting worse. The BoE just dropped the rate again. In an offshore bank (Isle of Man) I get less than 5% now. And, after the NRock thing, I am scared.

Is the Aussie bank safe? 8%? A regular bank? What name?

Someone suggested HSBC HKong gives 7-8%. Any more tips for safe returns?

PE

**Loner** · 17th April 2008 16:16

Originally Posted by pauleddy

The UK rates of return are getting worse. The BoE just dropped the rate again. In an offshore bank (Isle of Man) I get less than 5% now. And, after the NRock thing, I am scared.

Is the Aussie bank safe? 8%? A regular bank? What name?

Someone suggested HSBC HKong gives 7-8%. Any more tips for safe returns?

PE

try this link, and click on "term deposits" for the rates. Newcastle Permanent - Interest Rates

I have an account with them but not a term deposit. Quite low fees (much less than a regular bank)

**LeedsLeedsLeeds** · 17th April 2008 16:22

Originally Posted by sampdoria

HSBC

The Hongkong and Shanghai Banking Corporation Limited
HSBC Building, 968 Rama IV Road, Bangrak, Bangkok 10500, Thailand

Tel: 66 2 614 4000
Fax: 66 2 632 4818-19
Telex: 82932 HSBCBKH TH
email: Retail@hsbc.co.th

Chief Executive Officer: Marcus Hurry

**sampdoria** · 17th April 2008 23:59

Thanks again, Leeds cubed...you go above and beyond in your answers.

I was just hoping for a 'Yeah, HSBC has branches here...I bank at one...no complaints.'