Bangkok Bank has implemented stricter requirements for foreign customers opening new deposit accounts in Thailand, significantly impacting tourists and expatriates without long-term visas. The move comes as part of Thailand’s broader efforts to enhance cybersecurity and combat financial fraud, particularly the misuse of “mule accounts” in scams.

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Under the new policy, foreign nationals seeking to open accounts, apply for credit cards, or access mobile banking services must meet stricter eligibility criteria, including holding long-term visas (such as retirement or non-immigrant visas), being married to a Thai national, or owning property in Thailand. The bank emphasized that customers flagged as suspicious must undergo mandatory identity verification.

Reports have emerged of account freezes, particularly affecting Russian nationals who do not meet the updated requirements. The Bangkok Community Help Foundation warned on Facebook that similar measures could extend to other nationalities, urging affected customers to contact the bank promptly. Some Russian account holders have taken to social media to report difficulties accessing their funds.

Гойда по Таиландски

🇹🇭 Крупнейший банк Таиланда Bangkok Bank заблокировал счета тысяч россиян. Офисы банка заполнены плачущими россиянами, пытающимися снять наличку.

Вот что санкции
животворящие делают! pic.twitter.com/69y9MGPfLA

— Борис Викторович (@xxeegghhffrr) May 27, 2025

A Bangkok Bank spokesperson confirmed to Russian news agency TASS that the bank ceased opening accounts for foreign tourists—including holders of the Destination Thailand Visa (DTV)—since January, classifying them as ineligible under the revised rules. While some accounts have been temporarily blocked, the bank clarified that customers may need to visit branches for additional verification, such as biometric scans, to restore access.

The Bank of Thailand (BOT) has reinforced the need for stringent customer due diligence, requiring banks to verify identities against Anti-Money Laundering Office databases and assess fraud risks. The directive follows a recent case in Pattaya where bank employees allegedly helped a scam syndicate open fraudulent accounts.

Assistant Governor Daranee Saeju announced upcoming digital fraud guidelines, mandating risk-based customer profiling and measures like transaction limits for high-risk accounts. The BOT warned that non-compliant banks must rectify procedures immediately.

Law Targetting Mule Bank Accounts Officially Goes Into Effect in Thailand

The crackdown has sparked concerns among Thailand’s expatriate and traveler communities, with many scrambling to confirm their account status. Bangkok Bank advises affected customers to reach out through official channels for assistance.

-Thailand News (TN)