Thai media reported that a large-scale freezing of Chinese tourists' bank cards recently occurred in the Pattaya area, causing a large number of tourists to rush to banks for emergency cash withdrawals.
Several affected tourists stated that their bank cards were suddenly restricted from transactions without being informed of the reason, with the daily maximum cash withdrawal limit plummeting to 50,000 Thai Baht.
More troubling is that if excess cash needs to be withdrawn, banks forcibly require detailed proof of income sources and related materials, and some tourists even face the predicament of having their bank cards directly canceled due to inability to meet the conditions.
Ms. Chutima, President of the Pattaya Business and Tourism Association in Chonburi Province, expressed deep concern about this. She pointed out that the Pattaya tourism industry is already facing the dilemma of a sharp decrease in Chinese tourists, and this financial turmoil could further exacerbate tourists' panic, leading to a continued slump in the tourism market.
She urged local banking institutions to improve customer communication mechanisms to ensure transparency of information and avoid unnecessary misunderstandings due to information asymmetry. She also emphasized that foreigners must undergo strict scrutiny when opening bank accounts in Thailand, especially when involved in large transactions such as property purchases, and must provide genuine and valid legal documents such as real estate contracts to ensure the safe and compliant operation of the financial system.
Industry insiders analyze that this incident may be related to Thailand's recent strengthening of anti-money laundering supervision, but the specific reasons still need further official explanation.
