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What are the implications of the new banking regulations for expats in Thailand regarding bank accounts?
Bank AccountsVisa RegulationsLong-Term Resident VisaBanking RestrictionsThai Immigration PoliciesFinancial Services in ThailandScam Prevention Measures
Feb 14, 2025
a year ago
Greg ********
ORIGINAL POSTERRegarding 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.
TLDR : 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.
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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.
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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 ********
ORIGINAL POSTER@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 ********
ORIGINAL POSTER@Sam ****
No problem. It is best everyone knows the situationReply to
Greg ********
Reply
Nicholas *********
So Pattaya bank openings are no more 🫠
Greg ********
ORIGINAL POSTER@Nicholas ********
Looks like it.Nicholas *********
I asked Mot's Services and Maneerat too. Both can't do it anymore 😞
Andi ***********
@Nicholas ********
Oh., a real clampdown then with those big 3 saying no.Greg ********
ORIGINAL POSTER@Andi **********
One pot of gold at end of rainbow. If you cannot remit money in you cannot be taxed on it *****
Andi ***********
@Greg *******
A decline in remits though is not what the govt wants but you right, can not be taxed on what is no remittedGreg ********
ORIGINAL POSTER@Andi **********
Remits were never aimed at foreigners. It was aimed at wealthy Thais etc.Andi ***********
@Greg *******
Oh yeah, it is the wealthy Thais they really afterGreg ********
ORIGINAL POSTER@Nicholas ********
It must be all over then. I know Bank of Thailand announced restrictions this week so it must all be related.Nicholas *********
Got to be part of the general clampdown on scam activity
Andi ***********
@Nicholas ********
it is....i thought reputable agents would be left alone though.Nicholas *********
@Andi **********
same ... looks like I'm back to withdrawing cash and pigeon mailGreg ********
ORIGINAL POSTER@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?Reply to
Greg ********
Reply
Andi ***********
You have gone from the bearer of good news to bearer of bad news
Greg ********
ORIGINAL POSTER@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 ********
ORIGINAL POSTER@Andi **********
Certain visa holders will be able to open a bank account. Just now it looks like almost impossible outside of those.Andi ***********
@Greg *******
so DTVers are ok?Greg ********
ORIGINAL POSTER@Andi **********
I very much doubt it :-) It is a tourist visa. I reckon O, B, LTR, BOI, Privilege and one or 2 others.Reply to
Greg ********
Reply
Werner ************
It’s likely bank accounts held by people not on long term resident visas will be shut down
Greg ********
ORIGINAL POSTER@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 okReply to
Marcus ********
Reply
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