Jump to content

Govt cuts Thai Bank acct insurance


Recommended Posts

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.

Link to comment
Share on other sites

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.

  • Like 3
Link to comment
Share on other sites

  • 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.

  • Like 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Create New...

Important Information

By posting on Thaiger Talk you agree to the Terms of Use