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Finance Foreign Nationals Face Account Bans in Bangkok Bank Crackdown
UPDATE: Bangkok Bank Bars Tourists from Accounts in Fraud Crackdown Picture courtesy of China Daily Thailand tourists face banking barriers as Bangkok Bank shuts them out amid fraud fears. Thailand’s tourists and short-term visitors are hitting a banking brick wall, with Bangkok Bank axing account services for those without long-term visas. In a bid to ward off international cybercriminals, the bank, Thailand’s largest, has stopped tourists from opening deposit accounts, applying for credit cards, and using mobile services. The crackdown, launched in January, targets fraud from “mule” accounts but has left digital nomads, seasonal workers, and remote professionals locked out of essential banking services. The changes have spurred confusion and frustration among these groups trying to navigate without everyday financial tools. A Bangkok Bank representative confirmed to TASS news agency, “The policy applies to all tourists, regardless of nationality.” This decision also impacts holders of the Destination Thailand Visa (DTV), allowing up to 180-day stays but categorising them as tourists. Social media platforms have become hotbeds for reports, mainly from Russians, of account freezes or restricted access without prior notice. Although Bangkok Bank states not all accounts are terminating, some users must now verify identities with biometric scans. The Bangkok Community Help Foundation warned via Facebook about potential expansion of these measures to other nationalities. The revised rules mean only foreigners with long-term visas, Thai spouses, or real estate in Thailand can open accounts. Eligible groups include retirees, students, and those with work-related visas. Travellers and expat account holders are encouraged to verify their eligibility and reach out to branches with concerns. Increased fraud awareness comes on the heels of a Pattaya scandal where non-bank staff assisted in “mule” account creation for scam rings. Daranee Saeju, Bank of Thailand assistant governor for financial consumer protection, stresses banks’ compliance with central bank guidelines is crucial. Stricter future measures will include cross-referencing account holders with the Anti-Money Laundering Office’s watchlist and imposing limits on transactions. Whilst these tighter fraud-prevention strategies aim to protect, critics argue they unfairly impact legitimate visitors. The clampdown places them in financial uncertainty, complicating their time in Thailand. This significant policy shift in Thailand’s banking sector reflects an urgent need to combat cyber fraud but raises questions about access for thousands potentially left in financial limbo. Adapted by ASEAN Now from The Thaiger 2025-05-29 -
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Don't Eat Jew Food! Says Hamas leader from...Beirut
Definitely suffering in sympathy! -
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Report Norway Halts Income Letters at Thai Embassy; Retirees Affected
It would literally be impossible for embassy staff to provide certification of income for Americans. They have no way to verify that, and every potential way is easily forged and faked. There's a reason it was stopped. They simply don't have access to even government based income, let alone pensions and 401k etc. -
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'Where you come from? What your Job? How long you stay Thailand?'
No, we were born there. Most of us have relations that moved there long ago. Native Americans ancestors also came from Asia.
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