Bangkok Bank Freezes Foreigners’ Accounts

Thailand’s largest commercial bank, Bangkok Bank, has tightened its rules for servicing foreign clients and has begun freezing non-resident accounts. The bank has also stopped opening accounts for tourists, including holders of the Destination Thailand Visa (DTV), which allows stays of up to 180 days, according to the Bangkok Post.

Stricter Rules for Foreigners

The new policy applies not only to new deposit accounts but also to credit card issuance and mobile banking access. The move is aimed at preventing the misuse of so-called “mule accounts” that may be linked to money laundering.

"If a customer is classified as suspicious under regulatory requirements, identity verification by the bank is mandatory," the statement noted.

A bank representative explained that account freezing does not automatically mean closure. In some cases, clients are requested to visit the branch to clarify their situation. Facial scanning may also be required for biometric verification.

According to Bangkok Community Help Foundation, Bangkok Bank may freeze accounts and block cards of any foreign nationals who do not meet the new compliance criteria, raising serious concerns among expat communities and travelers in Thailand. Russians have already been affected by the new policy.

Russian news agency TASS reports that some Russians have had their accounts frozen and were invited to visit branches with proper documentation. One Russian DTV visa holder, Yevgeny, said he visited a Bangkok Bank branch in Pattaya, where he was told his visa was no longer valid for account holding and was asked to close the account and withdraw funds in cash.

"It’s extremely inconvenient since I need to pay for housing, bills, and shop using QR codes, which are the standard here," he explained.

However, there is no evidence of a targeted campaign against Russian citizens; many who opened their accounts earlier continue to use their cards without interruption.

Background: Financial Crime and Regulatory Response

These measures follow a major financial crime scandal. Four employees of a commercial bank in Pattaya helped a group of Chinese fraudsters open accounts. As a result, 15 suspects allegedly laundered 2.2 billion baht ($68 million) and fled the country. According to The Nation, the funds were linked to a fraudulent call center operation.

Daranee Saeju, Assistant Governor for Consumer Protection and Payment Systems Oversight, stated that banks must act immediately if processes don’t comply with central bank regulations. Enhanced due diligence and transactional monitoring are now being enforced to reduce financial crime risks.

Only Limited Visa Holders Can Open Accounts

From now on, Bangkok Bank will only open accounts for foreigners with retirement or non-immigrant visas—granted for work, study, or family reasons. The DTV is not accepted, as it’s considered a tourist visa despite its 180-day validity.

Currently, these restrictions apply only to Bangkok Bank, but other banks may follow suit. This would further limit access to financial services in Thailand for foreigners without a stable legal status—putting tourists, short-term visa holders, digital nomads, and other expats at risk.