Thai baht deposits at Bangkok Bank are protected under the Deposit Protection Agency Act – up to a maximum of 10 million baht per one depositor per financial institution until August 10, 2019.
What is Deposit Protection?
Deposit protection was established by the government to strengthen the financial system and protect depositors against the loss of their deposits with financial institutions, up to a certain amount of coverage. Depositors will be reimbursed within the stipulated period of time without having to wait for the financial liquidation process to finish.
Depositors can distribute their deposits among different banks, which is one of the methods in which they can manage risk under the Deposit Protection Institution. However, if depositors are confident in the stability and health of their financial institutions and are satisfied with the level of service they receive, then they do not need to make such distributions.
For more information, please visit Deposit Protection Agency website