The Bank of Thailand (BOT) has released draft rules for licensing money changers. Under the draft, anyone who wants to operate as a licensed money changer in 2027 can apply only in December 2026. For travelers and residents who simply exchange cash, nothing changes yet. The practical step is to check a shop's name against the list of licensed operators on the BOT website before you exchange money. The rules are still a draft, and they count as final only once the BOT issues its last announcement.
When applications open under the draft
The BOT summarized two key points. First, people who want to operate as licensed persons for 2027 may file an application only in December 2026. Second, from 2028 onward, applications can be filed in March and September.
In short, the draft ties license applications to fixed months. There is one month for 2027, and two months a year from 2028. Anyone planning to open a money changer would have to plan around those dates.
The draft is titled the Notification of the Foreign Exchange Controller on the criteria, conditions and procedures for applying to operate a business involving foreign payment instruments, and for operating at head offices, branches and service channels (No. 2).
Where the draft stands now
This is not yet the final notification. The BOT took public comments from 21 September 2026 to 20 October 2026, and that period has closed. The BOT's page carries a summary of the comments received and an impact analysis report on the possible effects of the rules.
The final notification is still pending. The December window is therefore draft content, not a rule in force. Anyone planning to apply in December 2026 needs to see whether the final notification keeps the dates in the draft and when it takes effect.
The BOT has not said when the final notification will be issued, or whether it will match the draft on every point. Readers should keep clear the difference between a draft and a rule that has been announced.
The BOT also states on the same page that comments on the draft have no legal effect. It says it will keep them confidential and use personal data only for the purpose of commenting on the draft.
If you are thinking of opening a money changer
The timing is the main risk. Under the draft, the 2027 window is only December 2026, so preparation should follow the BOT's final notification rather than rumor. Steps to take:
- Watch the BOT's announcements and legal pages to see whether the final notification has been issued.
- Read the draft notification, the summary of public comments and the impact analysis report attached to the BOT page.
- Contact the BOT's foreign exchange policy and supervision unit if you have questions about the details.
The BOT gives these contact details: the foreign exchange policy and supervision unit, for money changing rules. Email fog_ecst@bot.or.th, or call 0 2356 7848 or 0 2356 7858.
The draft attached to the BOT page contains other details of the criteria. Interested applicants should read the source documents directly. If you worry about missing the application window, ask the BOT before deciding. Do not guess.
Checking a money changer before you exchange cash
The draft covers how businesses apply for licenses. Ordinary customers do not need to file or do anything. What you can do is check a shop's name against the list of licensed foreign banknote dealers that the BOT publishes on its website.
The simplest way is to open the BOT website, find the list of licensed money changing operators, and compare the shop's name with it before each exchange. If you cannot find the shop's name, avoid using it until you can confirm its status.
If you are unsure whether a shop is on the list, you can ask the BOT's foreign exchange policy and supervision unit by email at fog_ecst@bot.or.th, or by phone on 0 2356 7848 or 0 2356 7858. Checking the BOT list directly is a better guide than word of mouth or a sign on the shop front alone.
Source: the Bank of Thailand, public hearing page on the draft criteria for applying to operate as a licensed person, and related documents.
This article is adapted from ViewNews' Thai-language report.
