What can my friend do about his frozen Bangkok Bank account while living in the UK?

Oh they definitely *will* freeze old accounts. The banks are being pushed by the government to update/come into compliance with 'know your customer' regulations. Freezing accounts is, IMO, going about it in about the dumbest and most ham fisted way possible, but they're not doing it without reason. Regulatory compliance is a perfectly valid reason.

@Bruce ***********

well he does say his friend " visits" Thailand as a tourist, which implies that he comes regularly.

@Allan ******

Hi Allan, I am also from Scotland. That’s a complex question and depends on many things. If you need the money to live on then it’s an easy answer..cash in and transfer to a Wise account. (Currently giving about 3.75%). If your question is about investment then gold has recently been hyped and increased in value exponentially due to risk in the last 12 months. And although the world is still a dangerous place and the value of gold is hedged to go higher. It could also just as quickly retrace significantly. So it’s a bit of a gamble. And if that £50k is your total pot then I’m not sure it’s a gamble I would take. The other thing is that gold in Thailand is high % 24k yellow gold (and there are lots of counterfeit around) whereas most U.K. gold (bullion) is produced by the mint and assayed accordingly. If you really insist on buying into gold within your budget. I would recommend buying gold brittania’s, 1 oz, 99.999% gold, from Wilkinsons Bullion in the U.K.

Or if you are happy to just get some tax free interest then open a cash ISA for the maximum allowed.

Regards, Rich

@Allan ******

yes . ISA matured this week. I already spent it on gold here

@Jonnie ******

tried numerous times in app, phone calls and visit branch. Always refused. Said my daily limits meet my lifestyle ... i spent 935k on gold this week. What that know about my lifestyle

@Jon **********

why are you being ridiculous!! If you have long term visa you keep the account or have the alternative to open another. Go to another bank, passport, any other ID like driving licence is helpful, house book or rental agreement plus certificate of residence from immigration, they open an account in 20 mins then load app on your phone. Ensure your phone is registered in your name, min deposit 300 baht

@Jon **********

That's the way crooks have done it since day one! Fortunately for those of us who have followed the rules, we're unaffected

@Pete *********

Thats a him problem isn't it

@Pete *********

If he's in the UK, he simply waits until he's in Thailand again, and sorts it out then. Simple huh?

@Damo **********

using your logic Why are people having so much trouble.??? Being a smart arse does not help the situation

@Giuseppe *********

, it's not like that. It's a temporary step by the Thai government due to a lot of complaints.The frozen accounts will be activated soon as the process is going on. Thanks.

@Giuseppe *********

Thailand: the land of a constant flow of new bad ideas, masquerading as good ideas and improvements.

@Giuseppe *********

It's those not following the rules who are being suspended. Sadly, it was "mafia" before, with agents and lawyers opening bank accounts and paying bribes. Now those days are coming to a close, the affected expats are crying

@Giuseppe *********

follow the rules, be calm when speaking to the staff and you'll find them to be more than helpful. Remember that person on the desk doesn't make the rules but sits all day listening to angry people. I've been with 2 expats who had problems and all is resolved. They definitely need proof who you are!

@Giuseppe *********

TiT