Banks now ask where cash of 5 million baht comes from
The Bank of Thailand rule covers cash deposits, banknote exchange, foreign currency and insurance premiums paid in cash, but only at branches. App transfers are not affected.
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Five million baht in 1,000 baht notes is 5,000 notes. If you carry that sum to a bank branch to deposit from 1 November 2026, staff may ask where the money came from and what it is for.
The reason is that the Bank of Thailand (BOT) issued notification 57/2569, telling financial institutions to check customers more closely on cash transactions of 5 million baht or more within the same day at a branch, according to BOT news release 40/2569, published on 26 October 2026. The rule took effect on Sunday 1 November.
Vitai Ratanakorn, the BOT governor, said the central bank is focused on preventing grey money, meaning money whose source is unclear and may come from crime, and on the transparency and safety of Thailand's financial system, The Nation reported.
Not just cash deposits, 5 more kinds of transaction count
Besides cash deposits, the BOT widened the rule to cover 5 more kinds of cash transaction of 5 million baht or more.
- Depositing cheques or drafts when it is unclear where the money came from
- Exchanging baht banknotes
- Bringing cash to have a cheque or draft issued
- Buying, selling or exchanging foreign currency
- Paying insurance premiums, investment products or financial derivatives
All of this applies only to transactions made at branches. The BOT said customers using electronic channels, such as banking apps, are not affected.
What banks will ask, and when they report to the BOT
What banks must do is called enhanced due diligence (EDD): checks scaled to each customer's level of risk. A bank may ask where the money came from, what it will be used for, or for supporting documents.
If a transaction looks unusual, or does not match a customer's normal behaviour, the bank must report it to the BOT. For customers doing ordinary business, the BOT told banks to keep things convenient and to have quick, fair ways to help customers who are affected.
The BOT's release does not list which documents are needed. Thaiger also reported that the notice gives no examples of documents.
The rule comes from an anti-fraud plan with the IMF and World Bank
The BOT said the rule follows the principles of the Bangkok Blueprint for Fraud-Resilient Financial Services, a plan the BOT started with the International Monetary Fund (IMF) and the World Bank Group to help banks prevent and respond to fraud.
It is the same plan SV News covered in the story on scam money that moves in 2 minutes. The aim is to stop banks from becoming a channel for money from crime.
How to prepare if you need to use a large sum of cash
- Bring papers that show where the money came from, such as a sale contract or your shop's sales records, in case the bank asks
- Be clear about the purpose: saving it, paying for something, or exchanging it to spend abroad
- Allow more time at the branch than usual, as the bank may need to ask questions and check documents
- If you are unsure about the rule, ask the branch before you go, or email the BOT's Financial Institutions Policy and Regulation Department at FIOP-RPD@bot.or.th
The rule has applied since 1 November 2026. Anyone planning a large cash transaction at a branch this week can get their papers ready now.
FAQ
Does a 5 million baht transfer through an app face these checks?
Not under this rule. The BOT's release says the rule applies only to transactions at branches, and customers using electronic channels are not affected.
Which documents do I need?
The BOT does not list documents. A bank may ask about the source of funds, the purpose or for supporting documents according to the customer's risk level, so papers that show where the money came from help.
Will every 5 million baht transaction be reported?
No. Banks must report to the BOT when a transaction is unusual or does not match a customer's normal behaviour.
When did the rule start?
On 1 November 2026, under BOT notification 57/2569.
