Business Banking Secure

The very first question that most expats and new businessmen ask when they arrive in Thailand is how secure is the banking system. Back in the US you have the FDIC which underwrites the deposits.

Deposit protection arrived in Thailand in October 1998. The current scheme is in place until August 2011. What this means is that the Thai government will guarantee all deposits 100% for the first year and based on the following table:


Protected Amount (under the Act)

Protected Amount (under the draft Royal Decree)

11 August 2008 – 10 August 2009

Full amount

Full amount

11 August 2009 – 10 August 2010

THB 100 million

Full amount

11 August 2010 – 10 August 2011

THB 50 million

Full amount

11 August 2011 – 10 August 2012

THB 10 million

THB 50 million

11 August 2012 onwards

THB 1 million

THB 1 million

As you will note that the amounts decrease over time. This was because in 2008 the government saw that many investors felt that Thailand was a risk factor. To overcome this risk they guaranteed the deposits over the period while the economy recovers. They thus assumed that by 2012 there would be very little risk to the Thai financial system. Most small expat businesses run on less than 1 million Baht hence there is very little risk of a banking crisis in Thailand and you losing your deposits.

If you need to know more about banking and accounting in Thailand then speak to our solicitors in Bangkok would would be able to provide you with the best advice. We also have group of accountants in the Bangkok office who will be able to explain to you the tax implications and accounting codes in Thailand. Call us today!

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