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Govt cuts Thai Bank acct insurance


Farang-Ba
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I saw on another news source that the Thai government has reduced the insurance for Thai bank accounts from 5 to 1 million baht.  Seems like trouble could be brewing.

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Why would you make that assumption?

 

 

I recommend that you do your research before posting such unsubstantiated speculative comments.

 

This is not a new development. The DPA was going to reduce cover to 1m awhile ago but in April 2020 agreed to extend the existing cover of 5m Baht until 10 August 2021.

 

It is claimed that 98.4% of depositors hold less than 1m Baht. However, if you are concerned about your personal Baht holding (if over 1m) simply open another account with a member bank.

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  • 2 months later...

The bottom line here is that banks are only covering your deposited money up to a certain value, like most other countries do.

What you have to question is the reason why....

Best option is to spread risk by putting money in a few different banks like Chaimai suggested, and this is not just for Thailand btw.

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