I pointed that out to the Thai embassy in Switzerland a few years ago but they insisted on the equivalent of THB 400,000, which could be in a bank account outside Thailand.
I thought of reporting it to the Consular Department of the Thai Ministry of Foreign Affairs (MFA) but then let it be, more so since the MFA's website states that individual embassies and consulates have the right to add anything they like to the requirements listed on the MFA's website, and I happened to have the required amount in a Swiss bank account.