The Bank of Thailand (BoT) has explained the causes behind recent system errors leading to negative bank balances and delays in unfreezing accounts, urging commercial banks to assist affected customers and enhance their processes.
Daranee Saeju, Assistant Governor of the Payment Systems Policy and Financial Consumer Protection Department, stated that the first issue was a technical glitch. On September 1, an incomplete end-of-day data update caused incorrect balances for some deposit accounts. The involved banks have since corrected the problem, and BoT has directed them to support impacted customers and implement preventative measures.
The second issue stems from police investigations. When law enforcement requests a freeze on a suspicious account, the system may display a negative balance if the frozen amount exceeds the available funds. The BoT has advised banks to clarify the situation to customers more transparently.
The BoT acknowledged that freezing and unfreezing accounts can impact innocent customers and is collaborating with banks and law enforcement to improve the system. The aim is to better combat fraud, protect victims, and speed up the unfreezing process for innocent account holders.
Customers with unresolved issues are encouraged to contact the BoT’s complaint centre at 1213.