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Posted

Hello,

Question I have life insurance policy on myself and one on my Thai wife both policy are from company's from USA. We both have Thai bank accounts and live in Thailand. Should something happen to one of us and the life insurance company issues and mails a check from USA, Will a Thai bank accept a company issued check for deposit from USA?

Thank you

Posted

Most Thai banks will indeed bank foreign currency cheques, but there's a not-inconsiderable delay and an also not-inconsiderable fee.

 

It's not something I've done (or wish to do) with life insurance, but the insurance claims I have made all had slots for banking details on the claims form for direct deposit.

 

If you're really worried get in touch with your insurance provider.

 

Posted
12 minutes ago, Crossy said:

Most Thai banks will indeed bank foreign currency cheques, but there's a not-inconsiderable delay and an also not-inconsiderable fee.

 

It's not something I've done (or wish to do) with life insurance, but the insurance claims I have made all had slots for banking details on the claims form for direct deposit.

 

If you're really worried get in touch with your insurance provider.

 

Direct deposit into a USA bank account or direct deposit into a Thai bank account? My example is I am the only person on the bank account I have in USA my wife is not on the account, So if something happens to me my wifes only choice would be to deposit the check into a Thai bank account correct?

Posted

I can't speak for US companies, but many UK companies will deposit to Thai accounts (of course any fees will be deducted). My UK pension pays directly to my Thai account (and no fee).

 

Can you get your wife added to your US account?

 

Posted
3 hours ago, Crossy said:

I can't speak for US companies, but many UK companies will deposit to Thai accounts (of course any fees will be deducted). My UK pension pays directly to my Thai account (and no fee).

 

Can you get your wife added to your US account?

 

Thank you no we don’t plan on returning to the USA not worth it for that. I will call the bank but think you have to be in person to be added.

Posted
4 minutes ago, raptorea said:

Thank you no we don’t plan on returning to the USA not worth it for that. I will call the bank but think you have to be in person to be added.

At the least she should be added as pay on death to your US account.  I just did that for a USAA account from here in Thailand a few months ago without need to visit bank and believe it may be possible to do with online banking at other banks.  

Posted
38 minutes ago, lopburi3 said:

At the least she should be added as pay on death to your US account.  I just did that for a USAA account from here in Thailand a few months ago without need to visit bank and believe it may be possible to do with online banking at other banks.  

Ok thank you for that information I also called Bangkok bank here in Thailand and there restrictions are bank account open for six months go to branch where you opened account wait three months for check to clear and a 15 dollar fee per check and a 3 baht fee for a tax stamp on check. Thanks all

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