BANKBackground
BOT eases KYC rules for opening deposit accounts
The Bank of Thailand has relaxed Know Your Customer (KYC) requirements for opening deposit accounts at specialized financial institutions (e.g., GH Bank, BAAC, EXIM Bank). The new rules allow digital identity verification alone (no need for combined methods), eliminate some redundant paperwork, and let existing customers open additional accounts more easily. This makes account opening simpler and cheaper for expats who use these banks.
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