davehowden Posted October 11, 2017 Share Posted October 11, 2017 I am about to show my lack of knowledge here, but: I am thinking of opening a Fixed Rate/ Fixed Term deposit account for my 800,000 baht visa extension money. 1: In the event of needing to use all or some of that money for emergency purposes (medical needs, repatriation ..) is that generally allowable, what penalties are incurred etc. 2: In the event of my death does that deposited money automatically become my Thai wife's or is there a need to make a Thai will. I appreciate that each bank may have different rules but I ask before approaching a bank (who may well make up any answer they choose), as "forewarned is forearmed". Many thanks. Link to comment Share on other sites More sharing options...
KittenKong Posted October 11, 2017 Share Posted October 11, 2017 24 minutes ago, davehowden said: 1: In the event of needing to use all or some of that money for emergency purposes (medical needs, repatriation ..) is that generally allowable, what penalties are incurred etc. Yes. You generally just forfeit the interest, or maybe just the difference between the term deposit rate and the regular savings rate. There are some exceptions so read the small print first. Some banks pay nearly as much for a savings account as you get for a TD, so you might want to check those. Krungsri's Mee Tae Dai is the obvious example at 1.3% Link to comment Share on other sites More sharing options...
KhunBENQ Posted October 11, 2017 Share Posted October 11, 2017 Your wife will not "automatically" get hold of it. The normal inheritance process applies. Assuming there are no other heirs she would inherit fully. But that would be worth a separate thread for the legal experts (not me). Link to comment Share on other sites More sharing options...
Jip99 Posted October 11, 2017 Share Posted October 11, 2017 Make a Will if you want your wife to inherit - unless you have no siblings/children and rely on her being the sole beneficiary under the Thai rules of intestacy. Under section 1629 of the Civil and Commercial Code of Thailand there are 6 classes of statutory heirs and they are entitled to inherit in the following order: descendants parents brothers and sisters of full blood brothers and sisters of half blood grandparents uncles and aunts The surviving spouse is a statutory heir, subject to the special provisions of Section 1635 Civil and Commercial Code. Link to comment Share on other sites More sharing options...
KittenKong Posted October 11, 2017 Share Posted October 11, 2017 38 minutes ago, davehowden said: I am thinking of opening a Fixed Rate/ Fixed Term deposit account for my 800,000 baht visa extension money. By the way, some immigration offices may not accept TDs for your retirement deposit so a savings account like Mee Tae Dai would be good for that also. Jomtien accepts TDs. Link to comment Share on other sites More sharing options...
KhunBENQ Posted October 11, 2017 Share Posted October 11, 2017 4 hours ago, KittenKong said: By the way, some immigration offices may not accept TDs for your retirement deposit Anyone knows about Chiang Mai? Link to comment Share on other sites More sharing options...
Sophon Posted October 11, 2017 Share Posted October 11, 2017 1 hour ago, KhunBENQ said: Anyone knows about Chiang Mai? Chiang Mai Immigration accept fixed deposits, I have been extending (retirement) based on one the last four years. Sophon Link to comment Share on other sites More sharing options...
speedtripler Posted October 12, 2017 Share Posted October 12, 2017 20 hours ago, Jip99 said: Make a Will if you want your wife to inherit - unless you have no siblings/children and rely on her being the sole beneficiary under the Thai rules of intestacy. Under section 1629 of the Civil and Commercial Code of Thailand there are 6 classes of statutory heirs and they are entitled to inherit in the following order: descendants parents brothers and sisters of full blood brothers and sisters of half blood grandparents uncles and aunts The surviving spouse is a statutory heir, subject to the special provisions of Section 1635 Civil and Commercial Code. 8. Family dog 9.Farang husband Link to comment Share on other sites More sharing options...
meatboy Posted October 12, 2017 Share Posted October 12, 2017 4 minutes ago, speedtripler said: 8. Family dog 9.Farang husband what about the buffalo. Link to comment Share on other sites More sharing options...
Jip99 Posted October 12, 2017 Share Posted October 12, 2017 15 minutes ago, speedtripler said: 8. Family dog 9.Farang husband I fear you are overrating the position of the Farang. ? Link to comment Share on other sites More sharing options...
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