Answereda year ago
What are the issues expats face with Bangkok Bank's account freezing policy?
An update for those following the Bangkok Bank debacle.
Yesterday after 31 days of my account being frozen, I made my fourth trip back to the bank and they said they were unlocking the account and I then withdrew the funds and closed the account.
I asked the bank manager and the assistant manager why they had frozen my account. They responded, "we don't know". I asked them if they were personally okay with having their own banking account frozen for 30 days with no notice or explanation. They shrugged and avoided the question and moved on to the next customer.
My experience with Bangkok Bank has been nothing but miserable and alarming. Locking up a customers account and telling them they have 30 days advance notice but in fact had zero notice before locking the account then later providing no explanation why the account is locked breeds uncertainty, insecurity, massive inconvenience for daily living and distrust of the Thai banking system. This is a slap in the face to customers who depend on having access to the funds they entrust to the bank for safe keeping. Don't say you weren't warned about this unethical bank. I'll never go back again.
Yesterday after 31 days of my account being frozen, I made my fourth trip back to the bank and they said they were unlocking the account and I then withdrew the funds and closed the account.
I asked the bank manager and the assistant manager why they had frozen my account. They responded, "we don't know". I asked them if they were personally okay with having their own banking account frozen for 30 days with no notice or explanation. They shrugged and avoided the question and moved on to the next customer.
My experience with Bangkok Bank has been nothing but miserable and alarming. Locking up a customers account and telling them they have 30 days advance notice but in fact had zero notice before locking the account then later providing no explanation why the account is locked breeds uncertainty, insecurity, massive inconvenience for daily living and distrust of the Thai banking system. This is a slap in the face to customers who depend on having access to the funds they entrust to the bank for safe keeping. Don't say you weren't warned about this unethical bank. I'll never go back again.
Answer summary
The user shares a troubling experience with Bangkok Bank, where their account was frozen for 31 days without prior notice or explanation. After multiple visits, the bank finally unlocked the account, but the lack of accountability and communication from bank staff raised concerns about trust in the banking system. Several commenters relate similar frustrations, suggesting larger issues within Thai banking, particularly regarding account management and the impact on expats reliant on local accounts to meet visa requirements.
113 repliesnewest first
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Ron ****
And having funds in a thai bank is required for many of expats to meet visa requirements...
James ********
@David ******
Jealousy is a curse sir.
Steve ********
@James *******
Lay off the pipe pal, you're talking out of your backsideDavid *******
@James *******
Where does jealousy come into it? IdiotRon ****
@Steve **************
I agree it's crazy. And the expats who get treated this way are the ones trying to abide by the laws of this countryRoberto *********
@Ron ***
Not necessarily. A lot of retirees here are bribing government officials to get their annual extensionsRoberto *********
@Nick ***********
I was replying to the comment which you have now deleted 😂😂😂😂Nick ************
@Roberto ********
and what good will that do me may I ask?Roberto *********
@Nick ***********
If you go into your branch you'll get a statement. I know two people have done this already. When you get back make that your first taskNick ************
@Roberto ********
I've had the 800k in the bank for 4 years but because my BB account has been frozen I have had to use so e of it for living expenses. Now it is likely that I will not be able to make it back up again for the 3 months required by my office to issue a new extension. In addition I am unable to check if my monthly payments are going into the bank coded correctly because I can not access the app. If they are nit I will have no other option. I cant do anything about the situation until I return to Thailand next month. I hope you now understand my former comment.Roberto *********
@Nick ***********
If someone has the 800k in the bank it's no problem. I'm referring to those who pay bribes to bank officials and immigration officersNick ************
@Roberto ********
and what is happening will force a lot of others to do the same as interference with their accounts will mean they no longer meet financial requirements.
Mark *********
@Ron ***
Thai retirement visas are a scam.
Steve ***************
@Ron ***
can you imagine being up for extension of stay renewal, needing the bank letter of confirmation of funds, only to be told, we will not supply that while your account is frozen? Day 30 for me and still can't access my own money.David *******
@David ********
Agents are a major part of the blame for this shit fight. Stingy asshole expats paying bribes. Hopefully all that's going to end as a result of thisJames ********
@David ******
" Stingy asshole expats "....calling people that ?...sir I hope you never ...........
Jim ********
@David ******
correct assessment as confirmed by The ThaiBOI
David *********
In your dreams fck/wit
David *********
God I hope so
James ********
@David ********
David , please there could be children or even first nation's people accessing this forum .
Neil *******
@David ********
I’m sure that’s part of the problem dodgy agents opening dodgy accounts for dodgy peopleJames ********
@David ********
David ...your comments make me embarrassed to be a fellow human being of yours. Can't you rise above un warranted comments like that.?David *********
Grow up cnt
Roberto *********
@Ron ***
But the maximum would be 65k, and you can withdraw that immediatelyRon ****
@Roberto ********
that's if based on monthly income (pension), then yes. But a lot of ppl can only afford the money kept in a thai bank option onlyRoberto *********
@Ron ***
It doesn't necessarily have to be pension money. I fund my transfers from property income and superannuation earnings
Bill *******
This is why I don’t invest anything in Thailand except for the bare essentials that are required legally
David *******
@Bill ******
Yep! I just bring in 65k per month for visa requirements. I spend most of that
Martin **********
@Bill ******
Like everywhere, you need to use your common sense. I have made investments, that gives good return on money, I would not have in my home-country, where there also enough risky deals.
Christopher ********
This should be a massive embarrassment to the country for Fing with so much money belonging to honest people who jump through hoops to live there. This wasn’t a 1st world country reaction they need to do better.
Wallace ******
@David ******
the bankers are not innocent in this. Those bribes were shared.Mark *********
@Christopher *******
Yet there are many farangs staying here that will tell you everything is rosy. They usually change their tune after a traffic accident when 100% of the blame is on your shoulders. Why? Because you are in Thailand.
Matthias *********
@Mark ********
living in Thailand indeed comes with some big risks.David *******
@Christopher *******
But a lot of those expats are also to blame. For using agents to bypass financial requirements attached to their visas. Those who are whining now should STFU, they helped cause the problem
Vladimír *****
@David ******
one simple question: the agents who are they? Thais or Farangs?David *******
@Vladimír ****
Everybody along the chain takes a cutVladimír *****
@David ******
and who takes the bribes? Who makes the laws?David *******
@Vladimír ****
As a go between to pay bribes to government officials, to cut cornersVladimír *****
@David ******
me neither. Why do they exist? The agents.David *******
@Vladimír ****
Probably both. I've never used one
Jeff *******
@David ******
No, the bank is locking even accounts not opened with an agent.David *******
@Jeff ******
Is that what people are saying? What about the phantom 800k year after yearWallace ******
@David ******
why the hell are you trying to defend this horrible behavior?Christopher ********
@David ******
these agents are operating in plain sight if the cops can find and bust live streaming sex shows they should be able to visit all these storefronts publicly advertising these services. Blanket accounts freezing taking days and weeks or longer to rectify isn’t the look you want to have if you care about attracting these people.Robert *********
OP@Christopher *******
100% agree👍
Marcus ************
Disorganized and unprofessional. If these banks were to fail, would the government even guarantee deposits?
Lyle **********
@Marcus ***********
The Gov. did so during the economic collapse in 1997. Everyone recovered their funds.
Peter *******
No point in closing, you may need it if the other banks freeze, just keep a low balance
Craig **********
@Peter ******
this is what i did today took my money out and left 2,000 bhatt in it.
Andrew ***********
@Peter ******
exactly my thoughts
Justin *********
@Peter ******
This is what I did. I opened a K-bank account and when I was finally able to unfreeze my Bangkok Bank account I moved most of my money to K-bank and left a few thousand Baht in Bangkok Bank. Bangkok Bank is strong for international transfers...but each to their own of course!Nick ************
@Justin ********
that is exactly what I intend to do but Wise is now partnered more closely with Kasikorn Bank and should work well for international transfers.
Frederick *********
@Peter ******
now that’s something that makes sense to me, at least it gives you a buffer should you have problems with your other Banks at a later date.
Oliver *******************
Have you watched the news this past week? Many banks including Thai accounts have been blocked from using due to mule accounts. Even though they actually did nothing wrong, but because where the cash came from.
Willem **********
@Oliver ******************
thats what I heard aswellAnd thai people want to get money out of the bank because of the current global situation.
Jay *******
@Willem *********
it has nothing to do with the global situation. They are withdrawing their money because they don't trust Thai banks
Tony *****
@Jay ******
100% my Thai wife’s family are just laughing at the banks. They have the same feeling towards all of them. Many Thais are taking their money out. Worrying times for the Thai banking system. This has potential to cause a run the same as 2008 where some banks went under.Jay *******
@Oliver ******************
and thousands of accounts that never received a penny from any mule accounts were also frozen.Oliver *******************
@Jay ******
yes, that issue has already been resolved.Nick ************
Update. They have now agreed 12 hours. I won't hold my breath.
Nick ************
@Oliver ******************
the meeting resolved nothing. It was agreed that unlocking of accounts would be reduced to a maximum of 3 to 7 days after account holders had submitted the required documents. Hardly very helpful.Jay *******
@Oliver ******************
you cant read at all can you. I said the meeting was monday. Thats 2 days ago for those with reading problems. It wasn't this past week like you stated either. I said accounts have been locked for weeks even after providing the proper information. You cant read, no wonder you don't understandOliver *******************
@Jay ******
it wasn't weeks ago it was this past week 🤣Jay *******
@Oliver ******************
yes they had a big meeting and resolved nothing. Thousands of accounts are still frozen weeks after providing the bank with the proper information, you should live in reality. You're talking about something you know nothing about. And the meeting was Monday not yesterdayOliver *******************
@Jay ******
yes it has, they had a very big and long meeting about it yesterday which solved the problem. You should follow the news.Jay *******
@Oliver ******************
it absolutely has not been resolved
Klaudia **********
@Oliver ******************
what are mule accounts please?
Faye *******
Being done around the world. Laundering of illegal activists done through banks, casinos. Quite often used for terrorist groups.
Von ***********
@Klaudia *********
a mule, as in the context that the account is often in a different person’s name to that of the person operating the account and funnelling dirty money (scammed/stolen funds that have not been obtained in a legal manner ) to clean it ( laundering ) and thus making the money appear legally obtained.A mule/donkey carries things, in this inference, the money is being carried through a bank account dirty and comes out clean.
Willem **********
@Klaudia *********
accounts in another name because of the origin of the money
Sandro-Sam *********
@Klaudia *********
my understanding is dodgy staff set up dodgy accounts to make dodgy money because every wants a piece of the dodgy action in a dodgy worldSandro-Sam *********
@Robert ********
dodgy is the new normal
Tim **********
@Sandro-Sam ********
way to use a lot of words but still say NothingRobert *********
OP@Sandro-Sam ********
dodgy, yep.
Brandon ********
Welcome to Thailand
Daniel ************
will you sue them?
Ken *******
@Daniel ***********
it's in the fine print that banks can close any accounts for what ever reasons! It's same in Australia, I went to ACCC and ombudsman with no favourable results. So change banks! K Bank works better
David *********
@Ken ******
same in AmericaRoberto *********
@Ken ******
Until K-Bank starts the same process!Ken *******
@Roberto ********
i think the new law is about having photo taken. It's a pain yes but I did read that the Thai gov are acting on this problem now
Jack ********
@Daniel ***********
surely closing the account is punishment enough.Roberto *********
@Jack *******
Oh Jesus! Yeah, that's going to send tremors through the biggest bank in Thailand with 17 million customers! When are people going to wake up and realise they don't want foreign customers?
Larry ***************
I've been with Bangkok Bank for years my account was not one that was frozen so it's easy for me to not be upset. But I do understand your anger and I do feel it's justified but the people at the bank are really not the ones that fault they're just the ones that have to deal with the customers. Unfortunately they have to take the heat
Darryle *******
David *********
@David ******
you saying that the agents knew that they were laundering moneyDavid *******
@David ********
Agents pay the bribes to open accounts, so what do you think? And the agents paying 800k into an account, getting a certificate of account balance, and withdrawing it five minutes later. Do you really need to ask that question?
Ash ***********
@David ******
excellent very well said and totally agreed with you👏👏👏👍👍👍
Derek *****
the people at the bank are the ones who opened mule accounts and ‘visa agent accounts’ so technically are at fault
Ash ***********
@Derek ****
great point👏👏👏👍
Donald **********
@Derek ****
Quite possible that the bank employees involved are no longer with the bank.David *********
@Derek ****
Chinese laundering money is the problemRobert *********
OP@David ********
as I understand it, they are the primary problem but also Cambodians and Russians. I have been told that the authorities were trying to lock these foreigners into the country to provide enough time in order to prosecute them and that is part of the reason they did not inform honest depositors in advance that they were locking the accounts. Seems a very regressive and clumsy way to handle a specific problem with no concern how their actions affected good customers.Robert *********
OP@Larry **************
actually just to add a bit of nuance to your thoughts, I have read the internal memos and the banking managers and staff have considerable discretion with how and when they open and close accounts. It also depends on the degree to which they prioritize handling the customers accounts and I can assure you that high net worth individuals are processed first. Go figure. One must also return to the original Bank where the account was opened and for me that was a long drive. I don't think my account would have been opened yesterday if I had not made four efforts personally to go to the bank and communicate with the bank manager. This has been a major interruption of my life and brought considerable stress. Another point I would add, is that my banking manager has been with the bank for 35 years and actually attends board meetings in bangkok. She is privy to the inside information as to why the bank accounts have been frozen. So in sum, she's not an innocent bystander.David *******
@Robert ********
It's the "considerable discretion" which caused this problem in the first place. Don't blame your local branch manager for now refusing that discretion. He perhaps values his job, even if you don't
Robin *******
@Robert ********
Sorry for you then.Previously I was led to believe that it was only an issue for the “shortcut” opened accounts.
Robert *********
OP@Robin ******
yes. I jumped through all the hoops.Robin *******
@robert Jenkins
So, an open question for you.
Was your bank account opened “following all the rules” by you in person with all documents required?
Or was it done through a third party?
So, an open question for you.
Was your bank account opened “following all the rules” by you in person with all documents required?
Or was it done through a third party?
Robert *********
OP@David ******
I value ethical business practices and transparency especially from a bank holding my deposits
Matthew ********
@Larry **************
people are getting pissed off with thailand now.why its dead
Sylvia ********
@Matthew *******
nothing to do with banking! It's low season same every year, its quieter than some September in the past as many Chinese now go to Japan. Expats are angry and so they should be, but only Bangkok bank will suffer long term from them
Nicholas *********
Roberto *********
@Matthew *******
It's quiet because it's low season! I don't know how the bitter expats are blaming the banks on the dip in tourism. Let's spell it out "TOURISTS DO NOT HAVE THAI BANK ACCOUNTS"Roberto *********
@Robert ********
I came within a whisker this year of having my Santander UK account suspended. The hilarious thing is, most people just don't get it that banking worldwide is undergoing a massive shake-up and people are having to provide proof of who they are and where they live
Robert ******
James ********
@Robert ********
absolutely not in the uk the banking system is not allowed to legally disclose why it takes security measures **************************************************************************************************************************************************************************************************************************************************************************************************************************************************************
Robert *********
OP@James *******
you're kidding? Surely the UK banking system is developed to the point they're required to provide you a reason while they're locking your assets?James ********
@Robert ********
if I knew that I would tell you 🤣I got very much the same response as you didRobert *********
OP@James *******
in developed countries? Why was your UK bank frozen for 90 days?James ********
@Robert ********
you do realise the problem you are having is replicated across the world? I’ve had my uk bank frozen for 90 days before with no justificationRobert *********
OPLet's hope so.
Robert *********
OP@James *******
all these presumptuous, judgemental, finger wagging expats could leave the country and stop twisting on their stink finger.James ********
@Roberto ********
exactly you know all these bitter expats could just go back to their country of origin 😁
Giraffe *********
Did the same thing closed account
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