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mm3
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What are the interest rates for deposit accounts in BKK? The rates here in the U.S. are so low that it's almost pointless.
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Thai Girls : Meet Sexy Thai Girls
Posted on: 1:36 am on Dec. 25, 2002
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Packripper
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quite low here also.
2% normal savings.
2.75% + or minus a 1/4 pt depending on your term.
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Bangkok Women : Meet Sensual Bangkok Women
Posted on: 2:50 pm on Dec. 25, 2002
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mm3
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Hard to try and live off interests these days unless you have a really really huge amount of principal.
I guess it would be foolish of me to think that the deposits are insured by some Thais government agency, something similar to FDIC in the U.S.???
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Thai Girls : Meet Sexy Thai Girls
Posted on: 3:53 pm on Dec. 25, 2002
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FarangBha
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PR,
Out of curiosity, what would you do with a lazy million baht - options to play at medium level of risk???
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Bangkok Girls : Meet Sexy Bangkok Girls
Posted on: 10:28 pm on Dec. 25, 2002
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Packripper
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hola mm3,
There is no equivalent. However I've never heard of anyone losing their deposits, even when those banks (Bangkok Metro Bank, First Bangkok City Bank, Bangkok Bank of Commerce, etc.) went under in 1997. I was in a very orderly line at Bangkok Metro Bank when they were going out of biz.... people just withdrew their cash and walked next door and put it in Bangkok Bank (would have been a great day to be a bank robber... crowds of people with millions in paper bags walking around). I didn't hear of anyone not getting their money out. There is no official govt rescue policy, but they do act as an unofficial backstop. Those defunct banks are still paying their employees salaries (although a scaled down "workforce," of course), believe it or not. These guys just go to work and sit around.
My family actually has lost money in FDIC backed banks (in Texas, during that rainstorm of closures in the mid 80's). I feel quite safe with my funds in Thailand.
And just to be safe.... keep your spread between Bangkok Bank, Thai Farmers Bank, Citibank, and HSBC. If those banks go under, it's the end of the world, and we'll all be using beads and wompam anyway.
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Thai Women : Meet Matured Thai Women
Posted on: 11:55 am on Dec. 26, 2002
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Packripper
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Fixed deposit at 2.75%
There is no such thing as medium risk here (for investment instruments). Only high risk and low risk. Everything that is not institutional risk (that is, sitting in a bank account) should be considered high risk here, in my opinion. That includes the stock market and starting/running any kind of business. Bondwise, I wouldn't touch anything besides US T-bills. Here, bonds are a joke (IMO), with severe agent-principle problems (you have no idea if your PTT bonds are paying for offshore LPG wells or real estate in China).
If anything, medium risk would be opening a small shop (in a building you own) and sitting there and running it yourself, Chinese style, and just slowly accumulate wealth (which is how they have come to pretty much take over the whole country).
Quote: from FarangBha on 11:28 am on Dec. 26, 2002
PR,
Out of curiosity, what would you do with a lazy million baht - options to play at medium level of risk???
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Bangkok Women : Meet Beautiful Thai Girls
Posted on: 12:12 pm on Dec. 26, 2002
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mm3
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Packripper:
I know there's probably a limit in the amount of baht one can take out of Thailand, but is there a limit on how much foreign currency a person could bring into the LOS?
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 12:40 am on Dec. 27, 2002
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Packripper
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Not sure about this. But I've never heard of either rule being enforced. Locals (businessmen, both legitimate and otherwise) carry an insane amount of currency between Bangkok, HK, and Shanghai everyday.
Heck, Thais have hand carried so much cash to Macao to gamble away, that the people there nicknamed that huge bridge in the harbor, the Thai Friendship Bridge.
;)
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Thai Girls : Meet Active Thai Girls
Posted on: 5:05 am on Dec. 27, 2002
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TimidGuy
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You can get 5%+Cost of Living (about 11%) on around $25k in Israel.
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Thai Women : Meet Matured Thai Women
Posted on: 10:41 am on Dec. 30, 2002
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tuk tuk dRiveR
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i would really think twice about moving large sums of money in to a bkk bank.... if your doing it to avoid taxes or whatever, you would be better off depositing you money in a stable currency. sorry but the thai baht is not the most stable currency in the world. your concerns are based on the interest rate when several other factors are involved in international currencies....
.02
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 10:45 am on Dec. 30, 2002
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