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 ?
Advice about bank accounts
vittel123
23 October 2018 11:41:20
145
GuestPoster145
23 October 2018 13:03:55
0
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
24 October 2018 03:26:21
611
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
Subscribe to this topic
Articles to help you in your expat project in Thailand
Thai Credit Cards
Expats can apply for credit cards in Thailand, but the banks set their own minimal work experience and monthly ...
Opening a bank account in Thailand
Thailand provides a wide array of options in terms of banking institutions and, as many expats are drawn to the ...
Connecting to the Internet in Thailand
Having reliable internet is a priority for many foreigners living in Thailand — not just for work reasons if ...
Healthcare for the elderly in Thailand
Thailand is one of the world's most popular retirement destinations. There are a number of reasons for that: ...
Income tax in Thailand
Thailand is not a tax haven. In Thailand, there are two main types of taxpayers — residents and ...
Getting a landline or mobile phone in Thailand
Once you touch down in Thailand, you will probably want to get a mobile phone with a local Thai SIM so that you ...
Open a bank account that suits you
Discover the best international banks to manage your money securely.
"