In a significant policy shift, Bangkok Bank, Thailand’s largest bank by assets, has halted account openings for certain foreign customers without long-term residency. This move is a part of a broader crackdown on fraud that could impact visitors and some expatriates.
The bank’s updated policy also limits access to credit card services and mobile banking for individuals who do not meet the newly established eligibility criteria. “Customers flagged as suspicious under regulatory guidelines are required to undergo identity verification,” the bank stated, as reported by the Bangkok Post.
The effects of this policy shift are already being felt, as numerous foreigners have taken to social media to express their frustrations over frozen accounts and blocked cards. The Bangkok Community Help Foundation has also received several similar reports.
According to the Russian state news agency TASS, a spokesperson for Bangkok Bank confirmed that tourists are now ineligible to open accounts, though exceptions are made for foreigners with Thai spouses, property ownership, or long-term visa status. “An account with Bangkok Bank can be opened by foreigners present in the country under retirement or non-immigrant visas,” the spokesperson clarified.
Customers navigating account issues or looking for further clarification are encouraged to reach out to Bangkok Bank through its official support channels. After all, even banks need a little TLC from their customers!
What prompted Bangkok Bank to implement this new policy?
Bangkok Bank is cracking down on fraud, leading to a restriction on account openings for foreign customers without long-term residency.
Who is still eligible to open an account at Bangkok Bank?
Foreigners with Thai spouses, property ownership, or long-term visa status, including retirement or non-immigrant visas, can still open accounts.
How can affected customers get assistance?
Customers facing issues with their accounts should contact Bangkok Bank through its official support channels for help.
