Bank of Thailand (BOT) applies stricter document checks for foreign currency inflows

Effective from Monday 29 December 2025, the Bank of Thailand (BOT) has instructed financial institutions to adopt stricter document checks when they purchase, accept, or deposit foreign currency that originates from overseas with a value of USD 200,000 or more, to ensure transactions are genuine, properly documented, and consistent with the stated purpose.   

The guidance is intended to address recent large inflows and outflows of foreign currency that have contributed to increased volatility in the Thai baht. 

1. Purchasing Foreign Currency Received from Overseas 

Immediate (spot) transactions 

For foreign currency transactions not related to gold or foreign banknotes, with a value of USD 200,000 or more (or equivalent), banks must obtain supporting documents for each transaction, either on the trade date or no later than the settlement date. 

An exception applies for customers with an established transaction history and ongoing KYC/CDD processes, where banks may rely on Know Your Business (KYB) procedures. 

However, KYB cannot be used for transactions of USD 200,000 or more if the purpose falls under any of the following: 

• Investment in Thai real estate 

• Digital asset transactions 

• Other capital-related purposes (such as loans, lending, derivatives, or investments not involving group companies or securities) 

• Any purpose other than goods, services, income, transfers, donations, investments, banknotes, or deposits 

For digital asset transactions, banks must also request documents showing the source of the digital assets or the source of funds used to acquire them. 

Gold-related foreign currency 

Banks must obtain documents proving that the customer sold gold overseas for every transaction. 

If the transaction occurs outside normal business hours, documents may be provided on the next business day. 

Billing documents and gold customs declarations must be submitted within two business days after settlement. 

Foreign banknotes 

For foreign banknotes of USD 15,000 or more (or equivalent), banks must obtain evidence that the currency was physically brought into Thailand. 

Forward transactions 

Forward foreign exchange transactions must continue to follow existing foreign exchange control rules. 

However, where the transaction purpose falls under the four high-risk categories listed above, banks must obtain full supporting documentation and may not rely on KYB procedures. 

2. Depositing Foreign Currency into Foreign Currency Accounts

When resident customers deposit foreign currency received from overseas into a foreign currency deposit account, banks must apply the same documentation and verification requirements as for spot foreign currency purchase transactions, depending on the nature and amount of the transaction.

Please see the letter issued by the Bank of Thailand in Thai language regarding these measures for further details: BOT letter dated 26 Dec 2025