Bangkok Bank Shuts Door on Short-Term Foreign Accounts Amid Fraud Crackdown

Bangkok Bank Shuts Door on Short-Term Foreign Accounts Amid Fraud Crackdown

Bangkok Bank has introduced stricter rules for foreign nationals opening or maintaining accounts, aiming to combat financial fraud and mule accounts. Effective since January, only foreigners with long-term visas, Thai spouses, or property ownership can open new accounts. Tourists, including those on the new Destination Thailand Visa (DTV), are excluded and may face frozen or restricted accounts. Expats and digital nomads without permanent status are urged to verify eligibility. The move aligns with Bank of Thailand directives to boost cybersecurity and enforce identity checks. Other Thai banks may soon follow suit.