Bank Accounts
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US banking collapse has Thailand customers asking, is my money safe?
The recent collapse of Silicon Valley Bank (SVB) in the United States has triggered concerns about the safety of money in banks, with customers in Thailand wondering whether their cash is safe and whether they should withdraw it. While Thailand’s Finance Minister Arkhom Termpittayapaisith insists that the troubles faced by some major US banks have had no impact on Thailand,…
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It’s Bank of the Future for Thai consumers
A survey revealed that Thai consumers are quite happy to go “Bank of the Future” to share personal data to get a better digital banking experience. An encouraging sign given e-commerce platform Shopee announced a permanent end to purchases made by bank payment after a Thai customer was hacked via Shopee and lost tens of thousands of baht from a bank account linked to…
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No link between phishing and Shopee transfer scam
E-commerce platform Shopee has stopped Internet bank transfers as a payment method for purchases, as it wants to improve the user experience. The company says the move is unrelated to the case of a buyer’s account being allegedly hacked. In an email to The Thaiger, Shopee said… “The phasing out of manual bank transfers as a payment method on Shopee…
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Bank of Thailand to raise interest rates on Wednesday
Bank of Thailand (BOT) Governor Sethaput Suthiwartnarueput today announced interest rates will be raised on Wednesday to deal with potential inflation increases. Governor Sethaput is expected to raise interest rates by a modest quarter-point to take the benchmark rate to 1.25% underscoring ongoing worries about growth in Southeast Asia’s second-largest economy. Thailand’s economy lagged its Southeast Asia contemporaries and is…
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Do I need a bank account in Thailand to buy property?
One of the most commonly asked questions is whether a foreigner needs a Thai bank account when buying real estate. This is essential to understand to ensure everything goes smoothly and your money doesn’t get ‘stuck.’ Purchasing property in Thailand as a foreigner requires due diligence and a thorough understanding of the buying and selling procedures ahead of time. So,…
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