The Deposit Protection Agency (DPA) in Thailand insures individual savings account for up to 1 million baht per account holder per financial institution. This means that if your savings account is insured by the DPA and the financial institution fails, you will be able to get back up to 1 million baht.
The DPA was established in 2008 to protect depositors in Thailand. The DPA insures all savings accounts, including checking accounts, savings accounts, and time deposits. The DPA does not insure investment accounts or credit card balances.
To be eligible for insurance, you must have a savings account with a financial institution that is a member of the DPA. You must also have a valid Thai identification card.
If your savings account is insured by the DPA and the financial institution fails, you will need to file a claim with the DPA. You can do this online or by mail. The DPA will review your claim and will pay you the insured amount within 30 days.
Here are some additional details about the DPA insurance scheme:
- The insurance is valid for 5 years.
- The insurance covers the principal balance of your savings account, as well as any interest that has accrued.
- The insurance does not cover any fees or charges that you may have incurred.
- The insurance does not cover any losses that you may incur as a result of the financial institution’s failure.
If you have any questions about the DPA insurance scheme, you can contact the DPA by phone or email.