Baht off! Bangkok Bank shuts the door on tourist accounts

Tourists and short-term visitors in Thailand are getting the cold shoulder from Bangkok Bank after the banking giant quietly slammed the brakes on opening accounts for foreigners without long-term visas.

Expats and digital nomads are reeling after Bangkok Bank, Thailand’s largest lender, introduced tough new rules barring tourists from opening deposit accounts, applying for credit cards, or using mobile banking services.

The new policy, in place since January, is part of a nationwide push to combat cybercrime and stamp out the use of so-called “mule” accounts by international fraud gangs.

While the move is aimed at tightening security, it’s already sparked confusion and concern among travellers, seasonal workers and remote professionals who now find themselves locked out of basic banking.

A Bangkok Bank spokesperson confirmed to Russian news agency TASS: “The policy applies to all tourists, regardless of nationality.”

Bangkok Post reported that this includes holders of the recently launched Destination Thailand Visa (DTV), which allows visitors to stay for up to 180 days but still classes them as tourists in the eyes of the bank.

Social media has since lit up with reports, particularly from Russian nationals, claiming their accounts have been frozen or access restricted without warning.

Bangkok Bank insists not all affected accounts have been closed, but some users may be required to verify their identity in person using biometric scans.

The Bangkok Community Help Foundation posted a warning on Facebook.

“There are also rumours that the bank may apply similar measures to all nationalities who don’t meet the new criteria, raising serious concerns across Thailand’s diverse foreign resident and traveller communities.”

Under the updated rules, only foreigners with long-term visas, Thai spouses, or property ownership qualify to open or maintain accounts. That includes retirees, students, and workers with official non-immigrant or work visas.

Policy shift

Travellers and expats already holding accounts are being urged to check their eligibility and contact their branch if in doubt.

The policy shift follows increased pressure from the Bank of Thailand, which recently exposed a case in Pattaya involving four non-Bangkok Bank staff accused of helping open mule accounts for call centre scammers.

Daranee Saeju, assistant governor for financial consumer protection, confirmed that tighter fraud-prevention rules are coming.

“If the process does not comply with central bank regulations, banks must take immediate corrective action.”

Future guidelines will require banks to cross-check names against the Anti-Money Laundering Office’s watchlist, assess individual risk, and impose stricter limits when needed.

While the clampdown may make sense on paper, critics say it risks punishing the wrong people, leaving thousands of legitimate visitors in financial limbo in the Land of Smiles.