I finally got my work permit and opened a Thai bank account at TMB. . ive basically been keeping my thai savings in my american account and under my mattress. . for some reason im a bit paranoid to put money into to a Thai account. . am I being ridiculous or is there reason to be paranoid.. .
Missle Command Champion!I have had an account with TMB for more than 8 years with no problems. My wife has had (much) more money in other banks, and again never any problems.
Most of my money from America has stayed in my bank and credit union in America, but that is more a factor of the weakness of the dollar right now, and not really needing any of it for the time. However, if the dollar were to get stronger relative to the baht I wouldn't hesitate putting a lot of money in a Thai bank, if there was some benefit to it or I needed to bring money here.
You're being paranoid. Thai banks are fine.
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You probably won't get any interest on your account other than that, I don't see why you wouldn't keep it in a bank. Any bank in Thailand is better than keeping cash on you. I guess if you are some kind of millionaire with butloads of cash then you might keep an offshore account.
I am guessing that you have less than a few 100,000 baht though, so why worry. Most expats that I know have at least 500K + in Thai banks for their visas.
Do you really think that a Thai bank is going to cheat you out of your little pittance of a savings?
I guess if you are worried about keeping Thai currency and the exchange rate then you could always exchange your money to your own currency and keep it in a safe deposit box. I had one it cost about 5k baht a year but that was a while back.
cool thanks for the answers. . i thought it was safe, but u never know in Thailand. . .
i do.
Yes. And mine pays interest.
Frederick Douglass: Find out just what any people will quietly submit to
and you have found out the exact measure of injustice
and wrong which will be imposed upon them, and these
will continue till they are resisted with either
words or blows, or with both.
Aleksandr Solzhenitsyn;
“Don’t believe them, don’t fear them, don’t ask
anything of them.”
First couple of years here I was very skeptical.
Now I figure no problems.
I'd probably still spread my resources out and limit an account to maybe a couple hundred thousand baht though. Just to be on the safe side.
But yes, I agree. Nothing to be concerned about.
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sure its protected. Fully now, but the amount is going down. Once I get to some figure I covert to what I want and bank that. Still trust the greenback as thats where I will spend it when I go back for the kids education. I hate seeing the dollar go down. But it sure is nice buying it. How many were around when it was 25 to the dollar pegged. I remember the day the bottom fell out of it.
Too long in Exile, too long not singing my song.
Too long like a rolling stone, Too long in exile
Too long in Exile, baby you just arent my friend.
Too long in Exile my friend, Baby you can never go home again.
Kidding right?Originally Posted by mcatt66
I remember when the baht really tanked around 98 and it was like 60 baht to the dollar, but I don't ever remember it being 25. Was that sometime in the early 90's?
You don't need a Thai spouse to get interest. There are some banks that do it but it is for long term savings and the rates usually fluctuate. The best that I have ever received was 2.8%. My wife did get 3.4% but that was only for one year.
Well, I don't trust Thai banks very much...
When I was working in Korea...Siam Commercial Bank bank sent my Thai wife, who was living in Khon Kaen, a letter.
They said my account was inactive, due to a lack of activity, and unless I put some money in...they were going to withdraw X amount per month, until the account was drained, and then close it.
So I sent my wife in to deposit some money and they REFUSED to let her deposit any. No matter how much she insisted. They said only the account holder can withdraw OR DEPOSIT money into the account.
So, they dutifully drained my account and closed it.
And no, it's not the amount, which was peanuts, it's the principle...
Fuck Thailand.
IA
Come on man. It's because you owed them fees. Also, depending on the branch and who opened it, there may have been a hold on the account.Well, I don't trust Thai banks very much...
When I was working in Korea...Siam Commercial Bank bank sent my Thai wife, who was living in Khon Kaen, a letter.
They said my account was inactive, due to a lack of activity, and unless I put some money in...they were going to withdraw X amount per month, until the account was drained, and then close it.
So I sent my wife in to deposit some money and they REFUSED to let her deposit any. No matter how much she insisted. They said only the account holder can withdraw OR DEPOSIT money into the account.
So, they dutifully drained my account and closed it.
And no, it's not the amount, which was peanuts, it's the principle...
Fuck Thailand.
IA
nope, but thanks for the helpful input. .
Bellaco wrote:
Please explain.Come on man. It's because you owed them fees. Also, depending on the branch and who opened it, there may have been a hold on the account.
Because you seem to "know it all."
I would especially like to know why they didn't allow my wife to make a deposit into the account.
Thanks.
IA
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