Foreign Residents Hit by Thai Banking Restrictions

[etfs]

Expatriates in Thailand are reporting frozen accounts and banking restrictions, as authorities tighten rules to curb mule-account fraud.

️ Complaints include:

Weeks-long freezes without explanation

Forced in-person biometric registration

Strict new KYC requirements for larger transfers via mobile apps

“This is impacting innocent people trying to run businesses or pay rent,” one expat shared on social media.

Some merchants have even paused QR code payments, while others are withdrawing funds fearing sudden freezes.

[Rimon Khan]

Freezing accounts without due process punishes innocent people more than fraudsters. Banking security shouldn’t come at the cost of financial freedom.

[Nahid Hossen]

Merchants halting QR payments is a huge red flag. If small businesses can’t rely on stable banking, the entire digital payment ecosystem is at risk.

[Couturier]

That’s tough — stricter fraud controls are understandable, but freezing innocent people’s funds for weeks feels excessive