Opening a Thai bank account just got tougher

[Gaybutton]

This starts with Bangkok Bank, but you can be assured other banks are highly likely to do the same. That could make things difficult because many depend on Bangkok Bank's acceptance of foreign direct deposits.

Of course you must have an account with them in the first place and unless you have a long term visa they may not allow you to open an account - so that brings up what I call the "Retirement Visa Paradox", meaning you can't get the retirement visa without holding a Thai bank account and it is getting close to impossible to open a Thai bank account without holding a long term visa.

I hope those of you who don't already have the retirement visa, but eventually want one, will be able to open a Thai bank account, even if you have to use a visa agent to do it. But you better get it done before it's too late - if it isn't already. I see no indication of any banks or immigration relaxing their rules. If anything, it keeps on getting more and more difficult. And some may even find their existing accounts have been closed if the bank believes anything suspicious is going on. If that happens to you and even if you are perfectly innocent, good luck getting them to reinstate your account.

Whether or not visa services can still get you a Thai bank account remains to be seen.
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Bangkok Bank cracks down on foreigners’ accounts amid scam fears

Tourists and other foreigners without long-term visas stand to be affected by tougher rules

by Somruedi Banchongduang

May 28, 2025

Bangkok Bank has adopted stricter requirements for opening new deposit accounts in Thailand for foreign customers, affecting tourists and potentially any expats who do not hold long-term visas.

The bank said the tighter conditions align with Thailand’s efforts to improve cybersecurity and combat financial scams.

It said new conditions apply to opening new accounts and applications for credit cards and mobile banking services. The aim is to prevent financial fraud, particularly the use of so-called mule accounts.

The adjustment could affect certain foreigners, it said, and clients experiencing difficulties with financial transactions are encouraged to contact the bank through any of its available channels.

“If a customer is classified as suspicious under regulatory requirements, identity verification with the bank is mandatory,” said a statement issued by Thailand’s largest bank by total assets.

Foreign customers of other commercial banks are also encouraged to contact them if they have any concerns about the status of their accounts, given the likelihood that they too will adopt the new standards.

According to the Facebook page of the Bangkok Community Help Foundation, Bangkok Bank has reportedly begun freezing accounts and blocking the cards of Russian nationals who fail to meet the new eligibility criteria.

“There are also rumours that the bank may apply similar measures to all nationalities that don’t meet the new criteria, raising serious concerns across Thailand’s diverse foreign resident and traveler communities,” it said. “If you have a Bangkok Bank account and don’t meet the requirements we advise to contact the bank as soon as possible.”

Russians having trouble

Some Russian nationals have also posted notes on social media saying they were having trouble accessing their accounts.

The official Russian news agency TASS quoted a BBL spokesperson as saying it stopped opening new accounts for foreign tourists, regardless of where they are from, at the beginning of this year.

“Since January, Bangkok Bank has been operating under new rules. Foreign tourists are no longer allowed to open bank accounts here,” TASS quoted the spokesperson as saying.

“This also applies to holders of the Destination Thailand Visa (DTV), which allows them to stay in the country for up to 180 days, because it is categorised as a tourist one.”

Commenting on reports that some Russians had had their accounts blocked, the spokesperson said: “I can’t confirm that an account being blocked necessarily means it will be closed. In certain cases, bank clients are asked to come to the office to sort out the situation. Sometimes, we need to do a face scan so that we can confirm their biometric data.”

To open new deposit accounts, the bank now requires applicants to hold long-term visas, be married to Thai nationals or own property in Thailand, among other criteria.

“An account with Bangkok Bank can be opened by foreigners present in the country under retirement or non-immigration visas,” she stressed. The latter are issued to foreign nationals who come to the kingdom to work, study or due to family reasons. These people normally have work permits issued by Thai authorities.

Central bank push

Last week, the Bank of Thailand reiterated that in cases where foreigners wish to open deposit accounts in Thailand, banks are required to adopt stricter procedures for verifying identity documents and conducting thorough customer due diligence.

“If the process does not comply with central bank regulations, banks must take immediate corrective action,” said Daranee Saeju, assistant governor for financial consumer protection and payment systems supervision.

The central bank’s move follows a case last week in which four employees of an unidentified commercial bank (not Bangkok Bank) in Pattaya facilitated the opening of accounts that were later used for criminal activities by a call centre scam syndicate.

Ms Daranee said the central bank is preparing to issue new digital fraud management guidelines, enhancing “know your customer” and customer due diligence procedures to reduce the risk of financial scams.

Under the upcoming guidelines, banks will be required to verify not only customers’ identities but also additional information. For instance, banks must cross-check client names against the mule account database of the Anti-Money Laundering Office and assess the risk of misuse.

Furthermore, banks must carry out customer profiling based on risk levels and adopt suitable risk mitigation measures, such as setting daily transaction limits or lowering the deposit amount for accounts opened via facial recognition.

https://www.bangkokpost.com/business/ge ... scam-fears

[Jun]

Of course you must have an account with them in the first place and unless you have a long term visa they may not allow you to open an account - so that brings up what I call the "Retirement Visa Paradox", meaning you can't get the retirement visa without holding a Thai bank account and it is getting close to impossible to open a Thai bank account without holding a long term visa.

Does this also apply to the Elite visas ?
If so, either they lose revenue from various visa schemes or there will be even more tea money paid to fix problems. A cynic might suggest that's the objective.

[Gaybutton]

Does this also apply to the Elite visas ?

If you are talking about the requirement to hold a Thai bank account, that is a good question. I don't know. My guess is, since Thailand is overtly trying to attract people wealthy enough to afford those visas, the rules for them are not quite the same, but I've never checked into it.

Anybody know?

[Harald]

Does this also apply to the Elite visas ?

If you are talking about the requirement to hold a Thai bank account, that is a good question. I don't know. My guess is, since Thailand is overtly trying to attract people wealthy enough to afford those visas, the rules for them are not quite the same, but I've never checked into it.

Anybody know?

I have 20 year elite visa. No, there is no requirement to have Thai bank account. But I have and can open bank accounts in any Thai bank.
Regarding crack down in Bangkok bank, I hear that if one owns real estate in Thailand and can show chinot , one can open a bank account over there no matter what visa one has.

[Gaybutton]

I have 20 year elite visa.

Thank you Harald. Other than paying for it, what requirements did you have to meet for getting the elite visa?

Are you retired and living in Thailand? If it's not too personal a question, if so, then what was the reason for getting an elite visa rather than just sticking with the annual retirement visa extension?

Also, to get a Thai bank account did you have to meet any additional requirements besides showing the bank your passport and elite visa?

While reading about it online answers most questions, I think it's much better to hear it from someone who has the experience. If there is anything else about this you can tell us, please do.

[DragonMaster]

Of course you must have an account with them in the first place and unless you have a long term visa they may not allow you to open an account - so that brings up what I call the "Retirement Visa Paradox", meaning you can't get the retirement visa without holding a Thai bank account and it is getting close to impossible to open a Thai bank account without holding a long term visa.

When I moved here for the second time in 2018, and had to go to the Thai embassy in Washington DC to get my OA retirement visa, there was an unexpected surprise. I initially opened my Bangkok Bank account in 2005 during my first visit to Thailand. The process was simple back then, and only required a passport and your legal presence in the country. Things have indeed changed. One of the requirements to get an initial OA visa was to show a letter from a Thai bank, showing you had 800,000 baht on deposit. Here was the first “paradox” as GB likes to say. While I was here on one of my regular visits on a 30 day exempt entry, I went into my Bangkok Bank branch and told them I needed a letter to take to the embassy to get my long term visa. No problem until I asked them to either email, or snail mail it to me. I was told they couldn’t do that, and I had to come into the branch personally to get the letter. I asked to speak with the bank manager who came over and asked me what he could do for me. I told him I had a simple question to ask which was, “How can I go to the embassy in Washington DC to obtain my long term visa and show them a letter that I can only get by coming in to the branch personally?”. The manager understood the dilemma, and while sympathetic had no answer to solve the problem. He promised to check with HQ and see what could be done. He called me a day later and said they could take a photograph of the letter and email it. I told him that wouldn’t do because the letter had to be an original certified by the bank, and why, if they could send a photo, they couldn’t they send a PDF instead. It was the rules, and they didn’t know how to generate a PDF from a document at that time.

To solve the problem, I pushed my next month stay close to the time I wanted to go to the Thai embassy so I could get the letter. PITA, but I got the letter, no problem.

When I returned to Washington, I went letter in hand to the embassy and presented my FBI record check, medical certificate, passport, and the ever important letter from Bangkok Bank. The consular officer looked over the doc’s, and then saw the letter from Bangkok Bank. She said, “What is this?”. Caught a bit off guard, I said it was a requirement to show 800,000 on deposit in a Thai bank account. She told me I could have just gotten a letter from my bank here showing I had the required amount. I pointed out that the requirement was clearly posted on the embassy website. She was clearly irritated by that, but in spite of her irritation, I picked up my visa 3 days later.

The point is to check with your embassy before you go and see if you can present proof from your local bank of the required funds. If so, there is one less “paradox” to deal with.

[Dodger]

.......When I returned to Washington, I went letter in hand to the embassy and presented my FBI record check, medical certificate, passport, and the ever important letter from Bangkok Bank. The consular officer looked over the doc’s, and then saw the letter from Bangkok Bank. She said, “What is this?”. Caught a bit off guard, I said it was a requirement to show 800,000 on deposit in a Thai bank account. She told me I could have just gotten a letter from my bank here showing I had the required amount. I pointed out that the requirement was clearly posted on the embassy website. She was clearly irritated by that, but in spite of her irritation, I picked up my visa 3 days later.

Not that it's going to do you any good now, but I also applied to the Washington D.C. Thai Embassy for my O-A Visa in 2018 in preparation for retirement.

To comply with the request for "Available Funds" I simply made copies of my U.S. bank book and my Thailand bank book (Kasikorn) and called it a day. Both bank accounts had sufficient funds and no questions were asked.

The requirement for Proof of Income showing either 800k in a Thai bank or a minimum monthly foreign income of 65k only applies to expats who want to extend their annual visa's. This is not a requirement for obtaining the initial O-A visa. This is probably why the girl looked at you strangely.

It appears that you may have misinterpreted what you read on the embassy website.

[Gaybutton]

I went into my Bangkok Bank branch and told them I needed a letter to take to the embassy to get my long term visa. No problem until I asked them to either email, or snail mail it to me. I was told they couldn’t do that, and I had to come into the branch personally to get the letter.

I don't understand this part. As long as you were in Thailand why couldn't you get the letter while in the bank and just take it with you? Also, since you were in Thailand, assuming you meet the requirements why didn't you go to immigration here and get the "O" visa, which I think is far preferable to the "O-A" visa?

I know I must be missing something.

[Gaybutton]

Both bank accounts had sufficient funds and no questions were asked.

That's the problem. Was "no questions asked" embassy policy or at the whim of whoever you found yourself dealing with? Considering how often individual immigration offices within Thailand simply make up their own rules, who knows what's going to be the case at embassies and consulates?

In my opinion dealing with immigration can be unpredictable. I don't know if that is the case at embassies and consulates, but I would want to minimize as much as possible the chances of my visa application getting rejected. So, I'd be walking into the embassy with as much relevant paperwork as I could come up with.

"Life is like a box of chocolates. You don't know what you're going to get."
- Tom Hanks (Forrest Gump). 'Forrest Gump'

[Dodger]

I stand corrected on something I said:

When I applied for the O-A in 2018 I only had to submit a pay voucher showing that I earned at least 65,000 THB/Month. After I completed one year of residence in Thailand on the O-A visa I had to prove that a minimum of 65,000 THB/month was being transferred to my Thai bank to get my extension.

After being retired here in LaLa Land for 6 years it's hard to remember anything...