Wife co signatory on bank account Bangkok Bank

[VocalNeal]

16 minutes ago, Pib said:

Can't get a person an ATM card who is not a joint owner on the acct. 

 

 

Can you not have two for yourself?

[notrub]

Signing my bank account over effective on my death.  It has been posted that I could sign a paper giving my GF access to my account on showing a death certificate.  BKK bank and Kbank.  Any comments on this please?  I am also going to make a will and register it with the local amphoe.  Will she be able to access my accounts producing this document together with a Thai death certificate?  My parents are both dead, I am divorced and my children are adults who will make no claim on the little I have left.  (Ok amount here in Thailand but peanuts in the west.)   Would she have to produce paperwork regarding my parent's deaths, divorce etc. in Thai to get the banks to release the funds?  Thanks very much.

[Pib]

2 minutes ago, digbeth said:

It used to be that filled in and signed withdrawal slips with actual ID (not photocopy) from you works almost like a power of attorney, you can sign a few blank ones and keep in in the safe, and upon your death, your spouse could have access to the money providing that they don't tell the Bank thar you've carked it.

 

Would this still work with all the new regulations? 

Never heard of that.   It sound too easy....an easy way to do a fraudulent transaction. 

 

Additionally, unless a person is loaded in the bank's system as signatory on your acct...that is, you got with the bank earlier, completed their signatory/power of attorney paperwork, was approved by the bank, and info loaded in their system...then any person walking in withdrawal slips and some home made power of attorney would probably be rejected unless maybe it was a court-approved power of attorney.

 

When a person is added as signatory, not only is a new passbook issued where the owner(s) and signatory have signed the back of the book (i.e., the signatures that can only be seen under a blacklight) the bank's system is also updated with the info.  When I last did it at my Krungsri Bank branch the bank rep said it will take about a week before their system is fully updated to reflect the signatory authorization although they provided the new passbook....so, be sure the signatory does not attempt a withdrawal before then.  Yeap, takes more than just a signature on the passbook but also the bank's system reflecting the signatory authorization....this prevent someone from just fraudulently adding a signature to the passbook

[Pib]

5 minutes ago, VocalNeal said:

Can you not have two for yourself?

Not to the best of my knowledge.  Each acct owner gets issued "one" ATM card.  If you need another one that means you must have lost/damaged the old one....OR, you must want to let another person have access to your funds without the required authorization of being a joint owner.

[Pib]

9 minutes ago, notrub said:

Signing my bank account over effective on my death.  It has been posted that I could sign a paper giving my GF access to my account on showing a death certificate.  BKK bank and Kbank.  Any comments on this please?  I am also going to make a will and register it with the local amphoe.  Will she be able to access my accounts producing this document together with a Thai death certificate?  My parents are both dead, I am divorced and my children are adults who will make no claim on the little I have left.  (Ok amount here in Thailand but peanuts in the west.)   Would she have to produce paperwork regarding my parent's deaths, divorce etc. in Thai to get the banks to release the funds?  Thanks very much.

I expect the Thai bank would "not" give the GF access to the funds unless she also had paper work from the probate court designating her as the executor of your acct/estate/will. 

Edited March 4, 2020 by Pib

[Road Warrior]

take caution !!!!!   may be OK if married if not DONT DO !!!

[digbeth]

10 minutes ago, Pib said:

Never heard of that.   It sound too easy....an easy way to do a fraudulent transaction. 

 

Additionally, unless a person is loaded in the bank's system as signatory on your acct...that is, you got with the bank earlier, completed their signatory/power of attorney paperwork, was approved by the bank, and info loaded in their system...then any person walking in withdrawal slips and some home made power of attorney would probably be rejected unless maybe it was a court-approved power of attorney.

 

From what I remembered... I haven't been inside a Bank branch in years since they have internet Banking...

The reverse side of the withdrawal slip is a power of attorney's form, usually you filled it in and have the account owner sign, which will match the UV ink on the passbook, it's only valid with original ID of both parties and only at your local original branch that should know you personally.  And yes, with access to the account owners ID and good forgery of the signature, you can withdraw the money... so maybe they have discontinued this method? 

[RichardColeman]

Since my wife keeps my Bangkok Bank ATM card, does not really matter

[Pib]

22 minutes ago, digbeth said:

It used to be that filled in and signed withdrawal slips with actual ID (not photocopy) from you works almost like a power of attorney, you can sign a few blank ones and keep in in the safe, and upon your death, your spouse could have access to the money providing that they don't tell the Bank thar you've carked it.

 

Would this still work with all the new regulations? 

 

9 minutes ago, Pib said:

Never heard of that.   It sound too easy....an easy way to do a fraudulent transaction. 

 

Additionally, unless a person is loaded in the bank's system as signatory on your acct...that is, you got with the bank earlier, completed their signatory/power of attorney paperwork, was approved by the bank, and info loaded in their system...then any person walking in withdrawal slips and some home made power of attorney would probably be rejected unless maybe it was a court-approved power of attorney.

 

When a person is added as signatory, not only is a new passbook issued where the owner(s) and signatory have signed the back of the book (i.e., the signatures that can only be seen under a blacklight) the bank's system is also updated with the info.  When I last did it at my Krungsri Bank branch the bank rep said it will take about a week before their system is fully updated to reflect the signatory authorization although they provided the new passbook....so, be sure the signatory does not attempt a withdrawal before then.  Yeap, takes more than just a signature on the passbook but also the bank's system reflecting the signatory authorization....this prevent someone from just fraudulently adding a signature to the passbook

 

Here's what Bangkok Bank says about this approach....but I bet everything will depend on whether they accept the power of attorney and having required ID of the acct owner.....and if they believe you have a good reason for not coming to the bank yourself...like being overseas.  But if the person is overseas which means his/her passport is also overseas with the person then the individual going to the bank would not have the acct owner's passport to show....catch 22....devil in the details. 

 

https://www.bangkokbank.com/en/Personal/Other-Services/Foreign-Customers/Faqs

[Max69xl]

15 hours ago, OneZero said:

kasikorn Bank Jomtien beach road branch (where I opened my account) insists that I cannot do as you described above Pib. I went on two days and even insisted they call a "Boss" to confirm - all that resulted in was his description of what a survivor must do if I pass on.  Rediculous waste of time and I don't know what I'm doing wrong to get them to understand Pib's description.  I suppose I could try another Kasikorn branch that represents more of a head office.  I suppose I could change bank accts to Bangkok Bank or krungsri as Pib noted.  etc etc

 

But before I do those things ---if anybody has any comments or suggestions to easily do what Pib has done, please advise your experience.  Thanks.

K-Bank was talking about adding a beneficiary to your account. That person has no access to your account what so ever. 

[Pib]

5 minutes ago, Max69xl said:

K-Bank was talking about adding a beneficiary to your account. That person has no access to your account what so ever. 

To the best of my knowledge Thai banks do not do Beneficiaries like we are use to in western countries.

[Pib]

 

50 minutes ago, digbeth said:

It used to be that filled in and signed withdrawal slips with actual ID (not photocopy) from you works almost like a power of attorney, you can sign a few blank ones and keep in in the safe, and upon your death, your spouse could have access to the money providing that they don't tell the Bank thar you've carked it.

 

Would this still work with all the new regulations? 

 

37 minutes ago, Pib said:

Never heard of that.   It sound too easy....an easy way to do a fraudulent transaction. 

 

Additionally, unless a person is loaded in the bank's system as signatory on your acct...that is, you got with the bank earlier, completed their signatory/power of attorney paperwork, was approved by the bank, and info loaded in their system...then any person walking in withdrawal slips and some home made power of attorney would probably be rejected unless maybe it was a court-approved power of attorney.

 

When a person is added as signatory, not only is a new passbook issued where the owner(s) and signatory have signed the back of the book (i.e., the signatures that can only be seen under a blacklight) the bank's system is also updated with the info.  When I last did it at my Krungsri Bank branch the bank rep said it will take about a week before their system is fully updated to reflect the signatory authorization although they provided the new passbook....so, be sure the signatory does not attempt a withdrawal before then.  Yeap, takes more than just a signature on the passbook but also the bank's system reflecting the signatory authorization....this prevent someone from just fraudulently adding a signature to the passbook

 

I need to stand partially corrected....I just looked at the back of a Bangkok Bank Withdrawal Slip (see below) and they allow a Proxy withdrawal at the account owner home branch.  But I bet the Proxy has to be on file with the bank branch already (i.e., the acct owner went in earlier to setup the proxy paperwork with the branch) or a court-approved power of attorney be provided.  Surely the devil is in the details.

 

[Pib]

Here's what the Bangkok Bank website use to say regarding access to a farang relative's acct in Thailand once a person passes.   I expect all Thai banks have the same/very similar policy per Thai law...and basically the same docs are needed even for a Thai relative....which means the Thai probate court will be involved.

 

 

[Max69xl]

18 minutes ago, Pib said:

To the best of my knowledge Thai banks do not do Beneficiaries like we are use to in western countries.

They do beneficiaries,but if it works the same as back home, who knows? I was asked for a beneficiary when opening a savings account at Bangkok Bank a few years ago. I declined then,but I can add one anytime I want. A person would normally add his spouse,I guess. 

[Max69xl]

12 minutes ago, Pib said:

Here's what the Bangkok Bank website use to say regarding access to a farang relative's acct in Thailand once a person passes.   I expect all Thai banks have the same/very similar policy per Thai law...and basically the same docs are needed even for a Thai relative....which means the Thai probate court will be involved.

 

 

That explains how it works when having a beneficiary. It makes it easier for the (for example) spouse when the account holder passes. 

Edited March 4, 2020 by Max69xl

[Pib]

12 minutes ago, Max69xl said:

They do beneficiaries,but if it works the same as back home, who knows? I was asked for a beneficiary when opening a savings account at Bangkok Bank a few years ago. I declined then,but I can add one anytime I want. A person would normally add his spouse,I guess. 

I still don't think so....that is, being able to designate a beneficiary.  Maybe a point of contact or a reference. 

 

I know my Bangkok Bank branches have never allowed a beneficiary; had to go the signatory route.

 

But I stand ready to be corrected if you can show the bank form authorizing such.  

 

If a beneficiary could be designated for Thai bank accounts to avoid the Thai probate process we wouldn't have the constant posts over the years from ThaiVisa members asking about designating a beneficiary for their Thai bank acct since they couldn't setup a beneficiary when they asked/tried at their Thai bank.   And this is not to be confused with a proxy or signatory which are different animals. 

[Saltire]

I will be looking to open a new joint account with my local branch of Krung Thai. Before I go I will contact their call centre and talk it through with someone in fluent English. I find their English support excellent.

 

Then when I go to my non-English speaking branch I will again contact the call centre and have them talk through what I need. The phone gets passed about a bit, but it works. This has been helpful in the past when I needed some changes to my account or had any problems.

 

As for the probate I have a Thai will in Thailand and a UK will in the UK for separate assets (though my wife is benefiiary for both). The Thai lawyer who set it up claimed that probate and release of funds throught the courts take on average 2 to 4 weeks. My wife has her own account with more than enough for her to cope while the legal stuff is done.

 

 

 

[Max69xl]

25 minutes ago, Pib said:

I still don't think so....that is, being able to designate a beneficiary.  Maybe a point of contact or a reference. 

 

I know my Bangkok Bank branches have never allowed a beneficiary; had to go the signatory route.

 

But I stand ready to be corrected if you can show the bank form authorizing such.  

 

If a beneficiary could be designated for Thai bank accounts to avoid the Thai probate process we wouldn't have the constant posts over the years from ThaiVisa members asking about designating a beneficiary for their Thai bank acct since they couldn't setup a beneficiary when they asked/tried at their Thai bank.   And this is not to be confused with a proxy or signatory which are different animals. 

Having a beneficiary doesn't mean your account is available to that person the minut you die. Adding a beneficiary has been possible at Bangkok Bank for years and probably at other banks,too. Don't forget that several customer services at several banks have no clue about a beneficiary and what it means. When I opened my latest account at Bangkok Bank,the girl at customer service said I had to add a beneficiary,but I said no,not now. 

Then the manager said it was ok not to add one. Many posters here have problems with their banks because everything gets lost in translation,and then they keep whining about it. Every bank has a hot line you can call and ask about everything. They also speak excellent english. Sometimes you get better answers using Google than here at TV. But then you have to know how to use search phrases. 

[Thingamabob]

22 hours ago, Just Weird said:

It's not your business to be making judgments about other member's posts, you should apologise!

Grow up people !

[DJ54]

Have a joint w/wife account at Bangkok Bank. I put an amount I feel comfortable with just in case something goes sideways. I have

a separate account which only I have access. 

[Just Weird]

22 hours ago, Thingamabob said:

On 3/3/2020 at 2:40 PM, Just Weird said:

It's not your business to be making judgments about other member's posts, you should apologise!

Grow up people !

People?  Geez...

 

You're just as bad as those you're demanding to "grow up"!   It's not your place to adjudicate other members on what to post or how to behave either!

Edited March 5, 2020 by Just Weird

[ecoscape]

There are circumstances where this is necessary. I have been happily married for several years and want my wife to have access to my account. My pension is paid into my Thai account. Occasionally I return to UK and need access to my account.if I take my bank card with me my wife is unable to draw money. It is no good having a joint account because immigration only accept sole accounts for marriage extension.

[lopburi3]

4 minutes ago, ecoscape said:

It is no good having a joint account because immigration only accept sole accounts for marriage extension.

But you can have more than one account and easily transfer money when needed.  What is wanted by many that have to use bank deposit for extension is the pay on death provision that other countries offer to shorten time to obtain access in the case of a spouse death but that is not available here AFAIK.