Bangkok Bank began freezing tourist accounts, with Russians being most affected

Bangkok Bank has begun freezing accounts and blocking bank cards of certain foreign nationals, with Russian citizens being the most affected. This follows a policy change that now prohibits foreigners on tourist visas, including the Destination Thailand Visa (DTV), from opening or maintaining accounts, amid efforts to tighten controls on financial fraud.

Since May 25, many foreign clients have found their accounts restricted, with the bank allowing only cash withdrawals before the accounts are fully closed. Those without a long-term visa, property in Thailand or a Thai spouse are no longer eligible for full banking services. Bangkok Bank had already stopped opening new accounts for tourists in January, but the recent decision has left many foreign residents scrambling.

Russian nationals have been tough hit. Social media posts and reports from Thai-based Russian communities describe mass account freezes, blocked cards and urgent visits to bank branches across Pattaya and Phuket. The Russian embassy estimates that 40,000 to 50,000 Russians live in Thailand, many of whom rely on Bangkok Bank for personal and business banking.

A spokesperson for the bank confirmed to Russian state media that clients with tourist-status visas and DTVs are no longer eligible to open or maintain accounts. One Russian client in Pattaya, who holds a DTV, said staff told him to close his account and withdraw his funds unless he could prove marriage to a Thai citizen or ownership of Thai real estate.

“Without a local account, I can’t use QR codes or mobile payments. Running a business becomes almost impossible,” he said.

The bank has not publicly commented on the number of frozen accounts, but the timing coincides with a broader crackdown on illicit banking activity. On May 21, Thai police arrested four employees of a commercial bank in Pattaya for helping foreigners open accounts using tourist visas. Those accounts were used to launder over 100 million baht, allegedly tied to an international call center scam network with damages exceeding 2.2 billion baht.

The Bank of Thailand has since ordered all commercial banks to tighten “know your customer” procedures and verify client details against fraud databases maintained by the Anti-Money Laundering Office. Bangkok Bank’s updated internal rules now reflect these national guidelines.

Previously, Bangkok Bank had been one of the few Thai banks allowing tourists to open accounts. It was mostly convenient for digital nomads, freelancers and small foreign-owned businesses. For Russians, it had become a go-to financial partner after restrictions tightened elsewhere.

Today, only foreigners with valid non-immigrant visas, such as those issued for work, study, family reasons or retirement, can open new accounts, and even they face stricter compliance checks. Foreign-owned small and medium-sized enterprises (SMEs) operating under tourist visas are particularly vulnerable, and many are now being forced to restructure their visa status or find alternative banking solutions.

Foreign business owners in Thailand are advised to immediately contact their bank to verify the status of their accounts and ensure compliance with the new eligibility criteria.