Answered2 years ago
What are the implications of the new banking regulations for expats in Thailand regarding bank accounts?
Regarding Bank Accounts (as well as other non-DTV) items TikTok has just posted this. I am posting this in DTV about the new banking regulatory requirements only.
They are very well connected and have been around a long time.
They are very well connected and have been around a long time.
Answer summary
Recent updates indicate that banks in Thailand may enforce stricter regulations, potentially closing accounts held by individuals not on long-term residency visas. Discussions highlight a clampdown related to scam activities, prompting significant changes in banking policies. Concerns have been raised regarding the ability for expats to maintain bank accounts and the implications of new emergency decrees placing responsibility on banks to prevent scams.
29 repliesnewest first
Click comment and we will ask for your email, then OTP, then name.
Anonymous ******************
How about people who have opened bank accounts while living with the long term visa?
Greg ******
New emergency decree places full responsibility on banks and telecom providers in cases of scams:
I doubt any bank will now allow account openings without a strong justification.
***********************************************************************************************************************************************************************************
*****
289?fbclid=IwY2xjawIcCoBleHRuA2FlbQIxMQABHU5xM3UvGWMQWCwDv_OX0p3OObIZb86O8Lhka-jVDRQEcijCqR70-piouA_aem_0oiE1ph3S4Qm7Wb-FyITSgI doubt any bank will now allow account openings without a strong justification.
Sam *****
Is tik tok a visa service? I don’t understand what this post is actually telling me. Can anyone please explain to me if you have a minute? 🙏
David ***********
@Sam ****
Tik Tok is Chinese-owned social media. This sounds like a scam.
Greg ********
OP@Sam ****
TiTok is a Visa service and they also facilitated opening of Bamk accounts. As I said in the post I only posted this about the bank accounts for this group - nothing else. It seems there are new restrictions on opening of bank accounts and where previously an agent could help opening of a bank account on visas not usually allowed ie Tourist or DTV it seems they can not now - at least temporarily but may be permanently. In short it is going to be more difficult to open a local bank account on a DTV is the relevance for this groupSam *****
@Greg *******
thanks for taking the time to explain.🙏Greg ********
OP@Sam ****
No problem. It is best everyone knows the situationNicholas *********
So Pattaya bank openings are no more 🫠
Greg ********
OP@Nicholas ********
Looks like it.Nicholas *********
I asked Mot's Services and Maneerat too. Both can't do it anymore 😞
Andi ***********
@Greg *******
Oh yeah, it is the wealthy Thais they really afterGreg ********
OP@Andi **********
Remits were never aimed at foreigners. It was aimed at wealthy Thais etc.Nicholas *********
@Andi **********
same ... looks like I'm back to withdrawing cash and pigeon mailAndi ***********
@Greg *******
A decline in remits though is not what the govt wants but you right, can not be taxed on what is no remittedAndi ***********
@Nicholas ********
it is....i thought reputable agents would be left alone though.Greg ********
OP@Nicholas ********
I think that is definitely the number 1 priority at the moment. CRS and commercial viability of accounts is another. Look at who the government has been in talks with over scamming. Whose nationals are the main targets of the scams. How is the money laundered to clean it in Thailand for remittance back?Nicholas *********
Got to be part of the general clampdown on scam activity
Greg ********
OP@Andi **********
One pot of gold at end of rainbow. If you cannot remit money in you cannot be taxed on it *****
Andi ***********
@Nicholas ********
Oh., a real clampdown then with those big 3 saying no.Greg ********
OP@Nicholas ********
It must be all over then. I know Bank of Thailand announced restrictions this week so it must all be related.Andi ***********
You have gone from the bearer of good news to bearer of bad news
Greg ********
OP@Andi **********
Four Seasons in One Day as Crowded House sang lolAndi ***********
@Greg *******
The govt did say though they were looking at restricting bank account opening, Banks are refusing opening directly to visa holders?Greg ********
OP@Andi **********
I very much doubt it :-) It is a tourist visa. I reckon O, B, LTR, BOI, Privilege and one or 2 others.Andi ***********
@Greg *******
so DTVers are ok?Greg ********
OP@Andi **********
Certain visa holders will be able to open a bank account. Just now it looks like almost impossible outside of those.
Werner ************
It’s likely bank accounts held by people not on long term resident visas will be shut down
Greg ********
OP@Werner ***********
Will be interesting to see how it works out. They might start asking for TIN. A pal just had to update his Singapore accounts with Thai TIN. I have seen others asked for a TIN in UK. It doesn't have to be a Thai TIN of course but more and more due to CRS banks want to see a TIN from foreigners with bank accounts in their country.
Marcus ********
@Werner ***********
people on tourist visas holding Thai bank accounts probably but people on correct visas should be okActivity
9 joined9
people
Related
25What are the requirements to open a bank account in Thailand for expats?
1.3k101610d
What are the key differences between the Non-O visa and the Thailand Privilege Visa for retirees in Thailand?
5.1k101433mo
What are the tax obligations for DTV holders in Thailand regarding tax residency?
11.5k961403mo
What are the implications of the current changes regarding the DTV visa in Thailand?
1.8k14213mo
Is day trading considered a job under the Thai Retirement Visa rules?
4.1k37375mo
Is it safe to use an agent to open a Thai bank account while on a tourist visa (DTV)?
2.7k22305mo
What are the implications of the 5-year visa for expats engaging in 'soft power' activities in Thailand?
8.1k65979mo
What are the implications of the new visa exempt entry restrictions in Thailand?
23.8k1443861y
Why are foreigners considered low value customers by Bangkok Bank?
5k231001y
Can I enter Thailand on a visa exemption and later apply for a multi-entry tourist visa?
713371y
Are bank accounts from Bangkok Bank being rejected for Retirement Visa applications in Hua Hin?
6.1k56471y
What are the implications of Thailand's tax laws on foreign residents regarding foreign income?
3.1k28211y
What are the key requirements for opening a bank account in Thailand with a Non-O visa?
4.7k41401y
What are the rules for using a bank account for retirement visa extensions in Thailand?
6.3k46811y
What important updates should DTV visa holders know about Thai bank account policies as of May 2025?
5.3k34671y
What should expats in Thailand know about opening bank accounts after recent arrests related to a scam?
5.4k32791y
Where can I successfully open a bank account with a DTV visa in Thailand?
5.9k58351y
Can I open a bank account with TTB using a DTV Visa without a work permit?
1.8k1392y
Why won't Thai banks open accounts for DTV visa holders?
25.8k1973022y
How often can I border bounce into Thailand on a tourist visa without issues?
1.8k1592y
Is it possible to stay in Thailand for 90 days with an incorrect visa stamp?
7.3k171873y
What are the common issues expats face with visa regulations in Thailand?
938173y
Can vaccinated tourists travel to Phuket without quarantine and later visit other provinces in Thailand?
1.9k16125y
Can South Africans switch from a Tourist Visa to a Non-B Visa in Thailand without returning home?
1.2k6118y
Can I open a bank account in Thailand with a non-B visa without a work permit?
1.5k1349y
Resources
Need help with your Thai visa?
#1 visa agent · 4,000+ reviews · 100,000+ expats served