Thailand’s Largest Bank Bangkok Bank Massively Blocks Accounts of Russians
Thailand’s largest bank, “Bangkok Bank,” has started massively blocking accounts of Russian citizens, with exceptions only for residents with Thai spouses, property, or long-term visas.
What Happened
Bangkok Bank – Thailand’s largest bank – restricted access to accounts and cards for many foreign clients, including Russians.
According to media reports, since yesterday, some tourists and relocants have found their cards not working, and mobile banking has become unavailable.
There is a rush at Bangkok Bank branches: Russians are coming en masse for explanations and trying to access their money.
The Only Way to Get the Money Back
According to Mash, access to funds is only possible by early account closure. In this case, the bank completely terminates service for the client.
Who Is at Risk
The bank makes exceptions only for the following categories:
- Russian citizens married to Thai nationals;
- owners of property in Thailand;
- holders of long-term visas.
For all other clients, access to accounts has been restricted.
Cash – Only by Personal Visit
Bangkok Bank stated that cash can only be withdrawn in person at a bank branch. Online requests and powers of attorney are not accepted.
Possible Reasons for the Crackdown
Recently, Thai authorities reported uncovering a scheme where accounts were being massively opened for Chinese tourists for cash withdrawal and transfers.
Investigations are underway, and this is likely the reason for the bank’s sudden tightening of its policy toward foreigners.
Historical Context
Previously, Bangkok Bank was the only bank in Thailand where tourists could open an account. All that was required was a small deposit and minimal documentation.
What Tourists and Relocants Should Do
Those who already have accounts with Bangkok Bank should:
- Check the status of their card and access to the mobile app.
- Visit the bank in person if necessary to withdraw cash or close the account.
- Have documents on hand proving resident status, property ownership, or marriage to a Thai citizen, if applicable.
Summary
| Client Category | Account Access |
|---|---|
| Tourists | Blocked |
| Relocants without visa/property | Blocked |
| Spouses of Thai citizens | Available |
| Property owners | Available |
| Long-term visa holders | Available |