Key points
- Bank of Thailand confirms widespread account freezes, pledges urgent solutions
- Foreign residents in Hua Hin among those left unable to access funds for daily needs
- Central bank working with police and banks to clarify freezing rules and speed up unfreezing
The Bank of Thailand has admitted to widespread account freezes that have left customers across the country unable to access their money, and promised urgent action to resolve the issue.
The disruption, first reported by Hua Hin Today on 7 September, began when Bangkok Bank froze the accounts of foreign residents without notice, leaving many unable to pay for food, bills, or hospital treatment. Since then, the problem has escalated nationally, affecting Thai citizens as well as expatriates, and eroding confidence in the banking system.
Accounts locked without warning
Customers said they discovered their accounts had been frozen at ATMs, during shopping trips, or while trying to pay for urgent expenses. Some were shocked to see negative balances, despite not being involved in fraud or so-called “mule accounts.”
One Hua Hin resident told Hua Hin Today that they were unable to pay for hospital treatment after finding their account locked at an ATM inside the hospital. Others described being caught out while paying for meals or shopping, unable to use QR payments or cards.
The disruption has forced some residents to rely on international credit or debit cards, while others said they were left without any immediate access to money.
“I received a notification requiring account verification within 30 days, but my account was blocked immediately,” said Elżbieta Hornung. “We cannot withdraw cash from ATMs, pay by card, or make transfers. Bank branches are overcrowded, and staff are in no hurry. We’ve decided to wait until the first wave passes and rely on our international cards.”
Eric Benardeau shared a similar experience: “I’m a bit pissed with BKK Bank to (1) freeze our accounts without warning, (2) leave people without cash to cover expenses during the frozen period, and (3) provide no explanation. Even after queuing twice with paperwork, the process is painfully slow.”
Others echoed the frustration. “The bank should give a grace period and allow some cash withdrawals, not freeze immediately,” said Ah Cheong. “Fortunately, I have another bank account. Otherwise, we’d be penniless.”
Youtubers We Retired to Thailand described spending over four hours at a branch followed by another hour of paperwork. “We were told our accounts would be unfrozen in three to five business days. My advice is to arrive early and be patient. No need to get angry as it doesn’t help.”
Jeff Sikkema, a 62-year-old American retiree, said the freezes posed serious risks. “They have my money and I’m unable to access it. Luckily I have some cash, but what if I had been travelling and suddenly couldn’t pay for anything? I have bills to pay and now cannot access my account. I am a retired pensioner, not a scammer. This is quite ridiculous.”
Central bank acknowledges problem
On 13 September, the Bank of Thailand (BoT) acknowledged the problem following growing public pressure. Daranee Saeju, Assistant Governor of the BoT’s Payment Systems Supervision and Financial Consumer Protection Group, said banks had frozen accounts under police orders targeting suspicious transactions.
If the balance was less than the requested freeze amount, accounts showed a negative balance. Each bank displayed this differently, but the BoT has instructed institutions to explain the issue more clearly to customers.
“The aim is to tackle fraud while avoiding disruptions for ordinary users, and to speed up the unfreezing of accounts for innocent people,” Daranee said.
The BoT urged customers who do not receive timely assistance to contact its complaint centre on 1213, promising to push banks to resolve cases swiftly.
The Ministry of Digital Economy and Society (DES) said banks should not freeze entire accounts, only the specific transferred amounts flagged as suspicious.
“In principle, we freeze the amount transferred, not the entire account,” said Professor Wisit Wisitsora-at, Permanent Secretary at DES. “If the freeze is for 100 baht, but your balance is less than that, the system will lock that amount. Once your balance exceeds 100 baht, you will be able to use it.”
He explained that this procedure falls under the Royal Decree on Measures for the Prevention and Suppression of Technology Crimes (No. 2) B.E. 2568 (2025), specifically Sections 6 and 7. This differs from a full account freeze under the Criminal Procedure Code, which requires a court warrant.
Confirmed mule accounts, meanwhile, can still be fully blocked by the Anti-Money Laundering Office (AMLO).
At a meeting on 14 September, the BoT, Thai Bankers’ Association, AMLO, and police agreed to establish a coordination centre to accelerate investigations and unfreeze accounts more quickly.
Background to tighter measures
The account freezes follow stricter identity verification and anti-fraud measures introduced in May. Authorities said the push was triggered by a case in Pattaya, where employees of a bank were arrested for helping a Chinese scam syndicate open hundreds of mule accounts. Police later linked these accounts to more than 2,000 fraud cases nationwide, with damages estimated at 2.2 billion baht (£46 million).
Officials say the rules bring Thailand closer to international “Know Your Customer” standards. But critics argue that the sudden and poorly communicated account freezes have disproportionately harmed ordinary users, including retirees and tourists.
Confidence shaken
The fallout has seen long queues at bank branches, and a surge in cash withdrawals as customers worry about losing access to their funds. Some restaurants and shops in Hua Hin have temporarily switched to cash-only payments.
For many, the Bank of Thailand’s acknowledgement is welcome but not enough. Hua Hin Today continues to receive messages from residents whose accounts remain frozen after more than two weeks.
While efforts are under way to refine the freezing process and speed up unfreezing, many in Hua Hin and across Thailand are still waiting to regain access to their own money.