Can I authorize my Sole name Thai bank account to another person?

[sleepy99]

I am going to season 800k in a Thai bank which is in my name only.
 

After my extension, in the case of an emergency that I am very sick, or have an accident,
can I have my girlfriend authorized to withdraw money on my behalf when I am unable too?

And if possible, will this type of authorization affect the 800k seasoning?
since it will need to be in a sole account.

Edited December 19, 2018 by sleepy99

[DrJack54]

Only thing comes straight to mind is she have access to your card and of course pin. That gives her 20k per day. I'm sure members with far more knowledge could advise about power of attorney etc. Don't know your financial situation, but if possible keep the 800k account to yourself and open a joint separate a/c. Oh as for your ac falling below 800k in event of illness, you mention, I wouldn't be planning on obtaining extension

Edited December 19, 2018 by DrJack54
Error

[sleepy99]

1 minute ago, DrJack54 said:

Only thing comes straight to mind is she have access to your card and of course pin. That gives her 20k per day. I'm sure members with far more knowledge could advise about power of attorney etc. Don't know your financial situation, but if possible keep the 800k account to yourself and open a joint separate a/c

We've been together for 28 years, I am not worried about her.

I understand that I could have an ATM card made, but it has daily withdraw limits, if large sums are needed someone still needs to go to the bank personally.

Can't put the money in a joint account at the moment, since the money is still seasoning until next extension.

I just want to make sure that she can get this money out for me in case of an emergency where I physically can't do it myself. 

 

[observer90210]

What did the bank say or recommend ?

[DrJack54]

12 minutes ago, sleepy99 said:

We've been together for 28 years, I am not worried about her.

I understand that I could have an ATM card made, but it has daily withdraw limits, if large sums are needed someone still needs to go to the bank personally.

Can't put the money in a joint account at the moment, since the money is still seasoning until next extension.

I just want to make sure that she can get this money out for me in case of an emergency where I physically can't do it myself. 

 

I like your thinking. Serious.

I travel often and my Thai partner says...."jack what if you die accident. I have nothing....". Its an important topic you raise. Ubon will sort it out tomorrow. 

[sleepy99]

1 minute ago, observer90210 said:

What did the bank say or recommend ?

I have not checked with them yet, since this will be my first extension using the 800k method.
Been here for many years and always have used the affidavit method.

Thought I ask to see if anyone else have had experience regarding this scenerio first.

[moonseeker]

I imagine ATM and PIN is the best way. I have tried a couple times long ago with POA etc. Never accepted. With PIN she could raise the limit by phone within minutes and go way above the 20K. you mention. Kindly let us know what solution you found. Regards. MS>

[sleepy99]

9 minutes ago, moonseeker said:

I imagine ATM and PIN is the best way. I have tried a couple times long ago with POA etc. Never accepted. With PIN she could raise the limit by phone within minutes and go way above the 20K. you mention. Kindly let us know what solution you found. Regards. MS>

I understand. But call me paranoid and overthinking everything.

But I could also imagine a scenario where the machine sucks in the ATM card when she is doing withdraws.
Happens a lot when the machine has an error sometimes! or even in the case if the ATM card is lost.

There should be a way that I can have her bring my bank book to the bank with her, and get money out on my behalf.

Edited December 19, 2018 by sleepy99

[DrJack54]

5 minutes ago, sleepy99 said:

I understand. But call me paranoid and overthinking everything.

But I could also imagine a scenario where the machine sucks in the ATM card when she is doing withdraws.
Happens a lot when the machine has an error sometimes! or even in the case if the ATM card is lost.

There should be a way that I can have her bring my bank book to the bank with her, and get money out on my behalf.

No

[janclaes47]

If you give here access to your online banking she can transfer in real time all the money needed to her own account, and withdraw it from there.

 

I think

[DrJack54]

28 minutes ago, janclaes47 said:

If you give here access to your online banking she can transfer in real time all the money needed to her own account, and withdraw it from there.

 

I think

Sounds sensible solution. However would imagine might leave her in dubious situation. 

[sleepy99]

13 minutes ago, DrJack54 said:

Sounds sensible solution. However would imagine might leave her in dubious situation. 

 

44 minutes ago, janclaes47 said:

If you give here access to your online banking she can transfer in real time all the money needed to her own account, and withdraw it from there.

 

I think

Unfortunately this is not a good solution for us, since she's not good with computers. Doesn't even have Facebook like most.

[janclaes47]

15 minutes ago, sleepy99 said:

 

Unfortunately this is not a good solution for us, since she's not good with computers. Doesn't even have Facebook like most.

 

Most banks have a smartphone app, does exactly same as the PC version, and can get money from ATM without ATM card.

 

ATM can not swallow smart phone

[chickenslegs]

Just thinking out loud - Could you write a cheque for the 800,000 (or whatever sum you feel is appropriate) payable to her account. Keep it in a safe place and let her know how to find it if needed.

 

Your bank balance would be unaffected until the cheque is deposited.

 

 

[BritTim]

8 minutes ago, chickenslegs said:

Just thinking out loud - Could you write a cheque for the 800,000 (or whatever sum you feel is appropriate) payable to her account. Keep it in a safe place and let her know how to find it if needed.

 

Your bank balance would be unaffected until the cheque is deposited.

For a chequing account, I also think an undated (and crossed) cheque is the best solution. However, I suspect like most people here, he only has a savings account.

 

Cardless ATM is probably the next best, together with a witnessed letter to the effect that she is authorised to withdraw money from the account if ever necessary.

[DrJack54]

6 minutes ago, BritTim said:

For a chequing account, I also think an undated (and crossed) cheque is the best solution. However, I suspect like most people here, he only has a savings account.

 

Cardless ATM is probably the next best, together with a witnessed letter to the effect that she is authorised to withdraw money from the account if ever necessary.

Does that exist in real world or you having a guess. I have zero expertise but thinking the op was implying death or something 2% less. Then a letter can allow withdrawal of 800k?

[elviajero]

3 hours ago, sleepy99 said:

I am going to season 800k in a Thai bank which is in my name only.
 

After my extension, in the case of an emergency that I am very sick, or have an accident, can I have my girlfriend authorized to withdraw money on my behalf when I am unable too?

And if possible, will this type of authorization affect the 800k seasoning? since it will need to be in a sole account.

No kind of authorisation would affect the seasoning. 

[elviajero]

2 hours ago, sleepy99 said:

There should be a way that I can have her bring my bank book to the bank with her, and get money out on my behalf.

You need to ask at your bank branch. They may be able to set up a power of attorney.

[BritTim]

3 hours ago, DrJack54 said:

Does that exist in real world or you having a guess. I have zero expertise but thinking the op was implying death or something 2% less. Then a letter can allow withdrawal of 800k?

The letter is a defence against accusations of fraud. As long as it is properly witnessed, it should protect her from prosecution. The letter does not, by itself, facilitate the withdrawals. ATM card, cardless ATM, Internet banking or some other mechanism will be needed for that.

[Tanoshi]

@sleepy99

Yes, it's perfectly possible to have sole accounts in your name, but with another authorised withdrawer.

 

I have a Savings accounts with Kasikorn and a Savings and Fixed deposit account with Bangkok bank.

They are all in my sole  name, but my wife is registered has authority over the accounts.

In the case of Kasikorn, they would only issue a single debit card to be shared.

Bangkok bank on the other hand issued us both with a debit card for the Savings account.

My wife can of course withdraw any amount over the counter on any account.

Statements and letters for Immigration appear in my name only.

 

Although I have a Will in place covering my assets, it made sense to allow immediate access to any funds for my wife in the event of death or a sudden incapacity, saving time to get a Court order to release funds.

[thailand49]

I read this topic recently and I haven't had time to check with the bank first if it possible since it was suggested by another poster.

I'm a bit in the same position always trying to cover all the bases?

I will take my partner into the bank and ask if this is true and possible?

It was noted if I wrote or type out a statement in English and Thai if I was sick or dead my partner can have full access to my bank book?  basically, take the statement to the Ampur and have it notarized she can take the notarized statement and the bank should give her access? 

For backup, I also thought about the ATM?

[HungDonger]

You can change your current account to a duel account with your partner and retain it in your name only (for Visa purposes).She becomes a signatory so can access your account. Easy. I've done this. 

[Just Weird]

2 hours ago, Tanoshi said:

@sleepy99

Yes, it's perfectly possible to have sole accounts in your name, but with another authorised withdrawer.

 

I have a Savings accounts with Kasikorn and a Savings and Fixed deposit account with Bangkok bank.

They are all in my sole  name, but my wife is registered has authority over the accounts.

In the case of Kasikorn, they would only issue a single debit card to be shared.

Bangkok bank on the other hand issued us both with a debit card for the Savings account.

My wife can of course withdraw any amount over the counter on any account.

Statements and letters for Immigration appear in my name only.

 

Although I have a Will in place covering my assets, it made sense to allow immediate access to any funds for my wife in the event of death or a sudden incapacity, saving time to get a Court order to release funds.

 

1 hour ago, thailand49 said:

I read this topic recently and I haven't had time to check with the bank first if it possible since it was suggested by another poster.

I'm a bit in the same position always trying to cover all the bases?

I will take my partner into the bank and ask if this is true and possible?

It was noted if I wrote or type out a statement in English and Thai if I was sick or dead my partner can have full access to my bank book?  basically, take the statement to the Ampur and have it notarized she can take the notarized statement and the bank should give her access? 

For backup, I also thought about the ATM?

In the event of an account holder's death the funds held in bank accounts cannot legally be accessed by anyone else, signatory or not, until probate has been granted.  Anyone accessing funds after the sole account holder's death is committing fraud regardless of whether they are signatories.

 

On your deaths, accounts in your sole names are closed as soon as the bank is advised of the deaths.   Of course, if your wives choose to not advise the bank of your demise that is her choice (and could be her problem).

[sumrit]

2 hours ago, Tanoshi said:

@sleepy99

Yes, it's perfectly possible to have sole accounts in your name, but with another authorised withdrawer.

 

I have a Savings accounts with Kasikorn and a Savings and Fixed deposit account with Bangkok bank.

They are all in my sole  name, but my wife is registered has authority over the accounts.

In the case of Kasikorn, they would only issue a single debit card to be shared.

Bangkok bank on the other hand issued us both with a debit card for the Savings account.

My wife can of course withdraw any amount over the counter on any account.

Statements and letters for Immigration appear in my name only.

 

Although I have a Will in place covering my assets, it made sense to allow immediate access to any funds for my wife in the event of death or a sudden incapacity, saving time to get a Court order to release funds.

I have a Kasikorn account in my sole name but have two ATM cards (both with their own separate pin numbers). I have one card and my wife has the other. This was arranged at the Royal Garden Plaza branch in Pattaya.

[IssanMichael]

14 hours ago, sleepy99 said:

We've been together for 28 years, I am not worried about her.

I understand that I could have an ATM card made, but it has daily withdraw limits, if large sums are needed someone still needs to go to the bank personally.

Can't put the money in a joint account at the moment, since the money is still seasoning until next extension.

I just want to make sure that she can get this money out for me in case of an emergency where I physically can't do it myself. 

 

I don't know what bank you are with but my account has an atm card and my wife can withdraw 500K per day, when i die she can empty the account without going through the probate process. Same applies if she needed to withdraw funds if i was incapable.

 

[onera1961]

14 hours ago, sleepy99 said:

I understand that I could have an ATM card made, but it has daily withdraw limits, if large sums are needed someone still needs to go to the bank personally.

I think ATM card has 50K limit. I remember taking out 50K one time. However, you can set limits to transfer using online banking. I have transferred up to 200K in one click. This is for Bangkok Bank ATM and transfer is to KK bank. May be even higher amounts is possible but I have not explored it.

Edited December 20, 2018 by onera1961

[jackdd]

At Krungsri you can set the ATM withdrawel limit to 100k per day, i assume at other banks you can do similar. Then just give her the card and the pin, and in case of an emergency 100k per day should be enough for everything.

[Tanoshi]

3 hours ago, sumrit said:

I have a Kasikorn account in my sole name but have two ATM cards (both with their own separate pin numbers). I have one card and my wife has the other. This was arranged at the Royal Garden Plaza branch in Pattaya.

You were fortunate. I even complained to their customer services at head office and they were insistent it was only possible to have one card between us. No such problem at Bangkok bank. TIT. 

[Sheryl]

I have been through this with Thai banks, there is no way other than to have it be a joint account.

 

You could draw up a durable power of attorney naming your GF.  However she would need to first go to court to get a letter directing the bank to give her access to your account. At least in theory; may depend on the bank, this being Thailand some might be willing to give her access based just in POA. I have for example heard of spouses being given access to deceased spouse account without court order even though technically required by law. But no guarantee.

 

Otherwise train her how to do online banking, where your ATM card is etc.

 

Could  also do a combo of both - execute a POA and teach her how to access your funds via online banking & ATM. Then if the need arises, she just does so without going through the courts. In the unlikely event she is ever challenged on this she has the POA to show.

 

This is basically what I have told the people names in my POA to do since it is hardly worth the hassle of going through the courts.

[khunPer]

17 hours ago, sleepy99 said:

And if possible, will this type of authorization affect the 800k seasoning?
since it will need to be in a sole account.

I've not read all replies, but to my knowledge you need a shared account with two names to do that in a Thai bank, but then the account is not accepted by Immigration for extension of stay, unless you have 1.6 million baht (double amount) in deposit.

 

As the first reply suggest, an ATM with PIN-code is a solution (I use that, myself). Some banks, like Bangkok Bank, will let you withdraw up to 25k baht per time, and up to 100k baht a day, but you'll need to have the limits set by your bank branch, or in your Internet banking.

 

You could make an additional account in two names, for any deposits beyond the required 800k baht needed for extension of stay – it's often more simple to have a clean seasoned 800k baht account for extension, and another account for expenses.

 

You can always write an ICE-letter with signature and witnesses, giving you girlfriend permission to access your account in case of emergency hospitalization, which will both legalize any ATM-withdrawals, and probably make it easier, if she need access to your account(s). Personally I have a shared emergency "rainy day" account, where I save up little every month, over time it gives some back-up for unforeseen situations, even small affordable monthly amounts can add up.

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