Cannot withdraw money from Thai bank accounts

[cavanami]

Last night, the Thai news was saying that the banks or government will not allow large amounts of cash to be withdrawn from your Thai bank account.

ie, if you have 10 million baht you can only withdraw a max of 1 million baht...why???

[Mekong]

Why would you want to? Never heard of Bank transfers, Bankers Drafts Debit card etc. What are you buying with cash Cocaine or something.

A stack of 1000 x 1000 THB notes (1 Million) is  150mm /6” high (banknotes approx 0.15mm thick). Now a 6” wedge is hard enough to stash about ones person let alone 5 foot for 10 Million.

[cavanami]

This was on the Thai news. Doesn't harm me at this time but strange they announce limits on cash withdraws.

 

[Mekong]

You must live a very contented life if all you have to do think / worry about are issues that don’t affect you.

Personally I have more pressing concerns to think about rather than why I cannot do something I do not want to do anyway

[cavanami]

Upon consulting with a person in the know...he said it has always been if you needed a large cash withdrawal you had to provide some day(s) notice to assure that the cash would be available for you. Another of the news trying to dramatizing the news with 1/2 truths.

Please be more accurate:

150 millimeters =

5.90551181 inches

 

555555

[Mekong]

I though it had something to do with reporting to the government of large cash withdrawals, anything over 1 Million has to be reported, then again I could be completely wrong.

6” v 5.90551181 is accurate. That is 0.005” a hair is approx 0.004” so you are arguing over a hairs breath per 1000 notes.

Also the notes would not stack perfectly so the pile would most like.y be more than 6”, your 5.90551181 is theoretical which could not exist in the real world.

[Coss]

Maybe they want to prevent a run on the banks...

[radioman]

I wonder if this is also related to a change in the bank insurance limit being reduced from 5 million to 1 million.

All rather starts to suggest that nervousness about bank's ability to repay investors is increasing.

 

 

[Mekong]

Maybe the Government are worried that protest leaders are paying protesters!