Chaiwat, a candidate for the House of Representatives from the Prachachon Party, revealed that 160 billion baht in cash was withdrawn four months before the election, warning it is a dangerous sign with fears it could be used for vote-buying. The Bank of Thailand explained that concerns over freezing proxy accounts led people to withdraw cash to use instead of online transactions.
On 11 January 2026, Chaiwat Sathaworawijit, a Prachachon Party list candidate for the House of Representatives, postedon Facebookstating that “Where did 160 billion baht in cash go during the four months before the election?” He noted that senior banking sources whispered that in the past two to three months, unusually large cash withdrawals occurred from various banks, some in the hundreds of millions baht, warning, “You’ll have a tough fight.”
Chaiwat further revealed that he reviewed banknote statistics from the Bank of Thailand (BOT) and was alarmed because while Thailand promotes becoming a cashless society, from July 2025 to November 2025, banknotes withdrawn from the BOT totaled 160.816 billion baht, with September 2025 alone seeing 127.01 billion baht withdrawn. This is the highest monthly cash withdrawal figure in history. Although one might argue this corresponds with the fiscal year-end season, comparing historical data shows it is not a normal seasonal pattern.
What happened during that period? The political timeline shows that in July 2025, the Constitutional Court ordered Prime Minister Paethongtarn Shinawatra to suspend duties over a voice clip with Cambodian Senate President Hun Sen. In August 2025, the court removed Paethongtarn from office, and in September 2025, Anutin Charnvirakul, leader of the Bhumjaithai Party, signed an MOA to dissolve parliament within four months.
Chaiwat posted again, questioning the Anti-Money Laundering Office (AMLO), related agencies, and Thai society about what this 160 billion baht in cash was prepared for as elections approached. He warned it is a dangerous signal for Thailand’s future. Such vast cash is not for ordinary expenses but can buy votes, networks, and state power, and much of this money likely comes from capital stolen from the people.
“Do not let Thai democracy be bought. If you want to see Thailand’s economy advance, small people have opportunities, and constructive politics prevail, we must reject vote-buying. The money used to manipulate is debt and stolen opportunity from you and your children’s future. Thailand can change through the pen in the hands of the people on 8 February 2026. Walk into the voting booth and mark two ballots.”
Recently, the Bank of Thailand clarified the case of unusually high cash withdrawals, explaining that the spike in cash withdrawals in September 2025 resulted from public concerns about expanding measures to freeze proxy accounts, prompting people to withdraw cash to hold and use instead of conducting transactions via online accounts. Moreover, many merchants increased accepting cash payments. This situation was brief, and public payment behaviors have returned to normal since October.
Regarding managing potentially abnormal cash volume increases during the upcoming election, the Bank of Thailand is closely monitoring the situation. It will manage cash reserves to stay close to the level of the same period last year to meet genuine public spending needs, including typical cash demand increases during the Chinese New Year festival. The BOT has also coordinated with commercial banks to strictly monitor unusual cash withdrawals and report to the BOT.