Bangkok Bank has adopted stricter requirements for opening new accounts in Thailand for foreign customers, affecting tourists and potentially any expats who do not hold long-term visas.
The bank said the requirements are due to 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.
The change could affect certain foreigners, it said, and clients having problems with financial transactions are encouraged to contact the bank.
Foreign customers of other banks are also encouraged to contact them if they have any concerns about their accounts.
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.
A Bangkok Bank 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.
