@Brandon ***********

laws only matters if you know them and if you know how to use them in your advantage even in Thailand

Under Thai regulations, banks are not legally allowed to make the sale of insurance or investment products a condition for opening a bank account.

🔹 Relevant laws and authorities:

Bank of Thailand (BOT) – the central bank that regulates financial institutions.

Office of Insurance Commission (OIC) – regulates the sale of insurance products.

Consumer Protection Act (B.E. 2522 / 1979) – protects against unfair trade practices.

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⚖️ 2. The rule in clear terms

> A bank may offer insurance products, but it cannot make them compulsory for access to essential banking services such as opening a savings account or obtaining a debit card.

This principle is explicitly stated in BOT Circular No. FPG. , which prohibits “forced bundling” (tying) of non-banking products with core banking services.

In other words:

> ✅ Optional = legal

❌ Mandatory = illegal (if required for basic account access)

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🏦 3. What really happens in practice

Despite the rule, some branches — especially in tourist areas or with inexperienced staff — may push insurance or “accident cover” as if it were a requirement.

If you are refused without valid reason, you can report it to the:

Bank of Thailand (BOT) complaint center:

Participant anonyme 173 not for long anymore