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Advice about bank accounts

vittel123
#1
Dear All,

I am posting this today to get some advice from you guys.

I moved to Thailand a few months ago now, working here.

I have nothing left in Switzerland, the only thing that is left is my swiss bank account with my savings on it. The issue now is that i have a lot of fees with this bank account as an expat (25 dollars a month) and I have been thinking about moving everything in a thai bank account. I have a few people who told me that they would not recommend it, as Thailand a very unstable country is for foreigners, laws are always changing, and that my money would not be secured in Thailand and that i might lose it if something happens with this country sometime.

I am not sure what to do now, do you have any piece of advice ?
See also
G
#2
Security is not an issue, at least in my 40 years of experience, but moving money out of Thailand is not as easy as some places and interest on a savings account is very low.  It is more of a question of how much money you have and what you plan to do with it.  If you have enough money you might want to look into offshore banking in Singapore.  If 25 dollars is burden for you, then if you can get a good exchange rate, I suppose parking your money in Thailand might make sense.
Straydog
#3
I have faith in top 3-4 Thai banks but would not move all my assets to this country.

I do keep enough to cover major medical and extend my retirement visa each year.

Currently using one bank for accounts but in August 2020 deposit insurance drops to 1M baht for all your accounts in one bank so will need spread between several banks.

Link has lots of good info:
http://www.thaiwebsites.com/deposits-insurance.asp

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