NACHALUAY Posted November 20, 2020 Share Posted November 20, 2020 i keep the lump sum in my thai bank account, and would like my wife to have access to it, in the event of my death. I think her using my ATM card may not be so reliable or efficient, Is there a way I can make sure of this? Link to comment Share on other sites More sharing options...
richard_smith237 Posted November 20, 2020 Share Posted November 20, 2020 Joint account. 1 Link to comment Share on other sites More sharing options...
Popular Post OneMoreFarang Posted November 20, 2020 Popular Post Share Posted November 20, 2020 1 hour ago, NACHALUAY said: i keep the lump sum in my thai bank account, and would like my wife to have access to it, in the event of my death. I think her using my ATM card may not be so reliable or efficient, Is there a way I can make sure of this? As far as I know in the event of your death it would be illegal for her or anybody else to use your bank card. 5 2 Link to comment Share on other sites More sharing options...
NACHALUAY Posted November 20, 2020 Author Share Posted November 20, 2020 thanks guys. joint account doesnt work for immigration. ATM card i knew wasnt practical ,so illegal too. i guess im not surprised. widow cant get funds but of course the state can get it. i suppose i will need some kind of power of attorney or last will and testament or suchlike Link to comment Share on other sites More sharing options...
bkk6060 Posted November 20, 2020 Share Posted November 20, 2020 10 minutes ago, NACHALUAY said: thanks guys. joint account doesnt work for immigration. ATM card i knew wasnt practical ,so illegal too. i guess im not surprised. widow cant get funds but of course the state can get it. i suppose i will need some kind of power of attorney or last will and testament or suchlike Make a will and be specific. Provide the bank with a copy of the will. 2 Link to comment Share on other sites More sharing options...
Popular Post Sheryl Posted November 20, 2020 Popular Post Share Posted November 20, 2020 I don't really understand how it works but people have reported being able to add their wife as signatory without her name appearing ion the account. (and hence no issue to use the account for immigration). Ask your bank about that 6 Link to comment Share on other sites More sharing options...
worgeordie Posted November 20, 2020 Share Posted November 20, 2020 Yes you can add your wife to your account without having her name on the bank book,so OK for Immigration, they add her name to the signature space on the bank book, which can only be seen with a UV light, but make sure you completely trust your wife ???? I don't know what you call it ,but just explain to the Bank what you want to do, CMBI bank cannot do it. regards Worgeordie Link to comment Share on other sites More sharing options...
Popular Post whiteman Posted November 20, 2020 Popular Post Share Posted November 20, 2020 If you have enough cash that you wont miss just drop one million Bhat in her personal bank account to tidy here over when you pass away. Till she can get access to your bank account on your demise that's if you trust her I been with my partner 16+ years and I do. It can also be used as a fighting fund for any medical emergency that needs to be covered if you are to sick to be able to use your credit card. For such things that are excluded from your health coverage, so that medical procedure can commence with out delay. 2 1 Link to comment Share on other sites More sharing options...
Popular Post Stygge Posted November 21, 2020 Popular Post Share Posted November 21, 2020 I have heard the average lifespan considerably shortens for guys using this setup 1 2 1 11 Link to comment Share on other sites More sharing options...
DrJack54 Posted November 25, 2020 Share Posted November 25, 2020 (edited) On 11/20/2020 at 3:52 PM, Sheryl said: I don't really understand how it works but people have reported being able to add their wife as signatory without her name appearing ion the account. (and hence no issue to use the account for immigration). Ask your bank about that This is indeed possible. No personal knowledge but has been confirmed from couple of the experts on thaivisa that have this in place. It amounts to signature in bankbook that shows up under blue light. In addition some forms are filled in with the bank. BTW the account has no issue in being used for immigration requirements Edited November 25, 2020 by DrJack54 2 Link to comment Share on other sites More sharing options...
Popular Post Grumpy one Posted November 25, 2020 Popular Post Share Posted November 25, 2020 Get her listed on the account as having access to it. It only takes a few minutes in the bank and her signature is listed. The account still in your name only 3 Link to comment Share on other sites More sharing options...
mvdf Posted November 25, 2020 Share Posted November 25, 2020 This is most degrading. Just say "wife's access to foreigner's bank account if foreigner deceased". Otherwise, all advice given are indeed helpful. 1 1 Link to comment Share on other sites More sharing options...
scorecard Posted November 25, 2020 Share Posted November 25, 2020 On 11/20/2020 at 4:32 PM, richard_smith237 said: Joint account. Joint account, only 1 party needs to sign. All of my Thai bank accounts are set up like this, me of my Thai adult son. Link to comment Share on other sites More sharing options...
scorecard Posted November 25, 2020 Share Posted November 25, 2020 17 hours ago, Grumpy one said: Get her listed on the account as having access to it. It only takes a few minutes in the bank and her signature is listed. The account still in your name only But ensure it's recorded that she alone can sign withdrawals, etc. 1 Link to comment Share on other sites More sharing options...
1FinickyOne Posted November 26, 2020 Share Posted November 26, 2020 On 11/20/2020 at 3:37 PM, NACHALUAY said: some kind of power of attorney or last will and testament or suchlike absolutely... I did this a couple of years ago... Link to comment Share on other sites More sharing options...
Tracyb Posted November 26, 2020 Share Posted November 26, 2020 (edited) I keep a lump sum in my account, too! I had the same concerns you write about. We resolved this at the bank. My spouse is now listed as a co owner with signature access to the account. The second signature is also in the book on the last page, just below mine, and is visible only with the black light used at the bank. My name is the only name printed on the “title” page of the bank book. I have no problems with my annual extensions of stay. Speak with your branch manager. Edited November 26, 2020 by Tracyb Link to comment Share on other sites More sharing options...
PFMills Posted November 26, 2020 Share Posted November 26, 2020 (edited) 39 minutes ago, Tracyb said: I keep a lump sum in my account, too! I had the same concerns you write about. We resolved this at the bank. My spouse is now listed as a co owner with signature access to the account. The second signature is also in the book on the last page, just below mine, and is visible only with the black light used at the bank. My name is the only name printed on the “title” page of the bank book. I have no problems with my annual extensions of stay. Speak with your branch manager. Has anyone done this at Bangkok Bank and has anyone done it at CIMB. Tks Edited November 26, 2020 by PFMills Link to comment Share on other sites More sharing options...
doubleday Posted November 26, 2020 Share Posted November 26, 2020 On 11/20/2020 at 3:52 PM, Sheryl said: I don't really understand how it works but people have reported being able to add their wife as signatory without her name appearing ion the account. (and hence no issue to use the account for immigration). Ask your bank about that can confirm at Krungthai Bank - no problem Link to comment Share on other sites More sharing options...
dlclark97 Posted November 26, 2020 Share Posted November 26, 2020 For those recommending a Power of Attorney for this or any other purpose, a POA becomes invalid on the death of the person who initiated it. A Last Will and Testament in Thai and registered with the Amphur is the way to go. 1 Link to comment Share on other sites More sharing options...
Laza 45 Posted November 26, 2020 Share Posted November 26, 2020 On 11/20/2020 at 3:37 PM, NACHALUAY said: thanks guys. joint account doesnt work for immigration. ATM card i knew wasnt practical ,so illegal too. i guess im not surprised. widow cant get funds but of course the state can get it. i suppose i will need some kind of power of attorney or last will and testament or suchlike I have a term deposit account with Bangkok Bank.. in my name.. but.. my wife's name is on it too.. The statement for immigration only shows my name and is accepted.. when I die she will have access to the account.. in the meantime it is a 2 signature account. Worked fine for my non O marriage visa a couple of months ago.. speak to a BKB manager .. Link to comment Share on other sites More sharing options...
recom273 Posted November 26, 2020 Share Posted November 26, 2020 For those who suggest that a second name is feasible - Does this mean that in the event of a death that the wife can rush to the bank and transfer the funds to her bank? Or is this activity still considered illegal? Link to comment Share on other sites More sharing options...
happylarry Posted November 26, 2020 Share Posted November 26, 2020 Surely the second signature means nothing in the circumstances because the account is frozen upon the death of the account holder and if the wife was still drawing money without telling the bank about the death then she would be committing fraud and would be found out eventually. The only answer is to leave a will and after a court rules on the will and issues the final paper this is then given to the bank and they release the money. 1 Link to comment Share on other sites More sharing options...
Peterw42 Posted November 26, 2020 Share Posted November 26, 2020 Its a little naive to think accounts are getting instantly frozen when someone passes away. Who do people envisage are doing this, the banking police Reality is, people all over the world access accounts after someone passes, its just being practical. I have had solicitors and bank etc advise to do so. Yes it not legal but its often one of those things where common sense prevails. If its just some funds in the bank and its the wife who will inherit anyway, a quick transfer of funds and avoid a lengthy and costly probate Link to comment Share on other sites More sharing options...
connda Posted November 26, 2020 Share Posted November 26, 2020 Is the account in Thailand or your home country. In Thailand make a will. A simple will can be drawn up at your amphur. A more detailed will can be drawn up by any lawyer. Price will run from about 5K THB for Thai only to 7 to 10K THB for Thai / English. It helps if you get to know the manager of the bank so they know you and your wife on sight. In that case the bank may release funds if provide with a death certificate prior to probate. If the money is in your home country check with the institution and create an joint account with your wife as the survivor beneficiary. It's a good idea to have that account linked to a third party money transfer service so your wife can access those funds electronically if you die. She can then provide the bank with a death certificate and whatever else the bank requires in order to release the funds to her as beneficiary. This isn't rocket science or difficult. It's just common sense. Link to comment Share on other sites More sharing options...
JAS21 Posted November 26, 2020 Share Posted November 26, 2020 11 minutes ago, connda said: Is the account in Thailand or your home country. In Thailand make a will. A simple will can be drawn up at your amphur. A more detailed will can be drawn up by any lawyer. Price will run from about 5K THB for Thai only to 7 to 10K THB for Thai / English. It helps if you get to know the manager of the bank so they know you and your wife on sight. In that case the bank may release funds if provide with a death certificate prior to probate. If the money is in your home country check with the institution and create an joint account with your wife as the survivor beneficiary. It's a good idea to have that account linked to a third party money transfer service so your wife can access those funds electronically if you die. She can then provide the bank with a death certificate and whatever else the bank requires in order to release the funds to her as beneficiary. This isn't rocket science or difficult. It's just common sense. I am not sure that what you say is correct. The bank told me that as my wife and I have a joint accounts she can use it after I die and before Probate. Link to comment Share on other sites More sharing options...
itsallmine68 Posted November 26, 2020 Share Posted November 26, 2020 go ask Bank 1 Link to comment Share on other sites More sharing options...
TigerandDog Posted November 26, 2020 Share Posted November 26, 2020 On 11/20/2020 at 3:37 PM, NACHALUAY said: thanks guys. joint account doesnt work for immigration. ATM card i knew wasnt practical ,so illegal too. i guess im not surprised. widow cant get funds but of course the state can get it. i suppose i will need some kind of power of attorney or last will and testament or suchlike A Thai will will solve that problem for you. 1 Link to comment Share on other sites More sharing options...
khunPer Posted November 26, 2020 Share Posted November 26, 2020 On 11/20/2020 at 6:32 AM, richard_smith237 said: Joint account. Not really working if the lump sum is deposit for extension of stay, then it need to be the double amount. A Thai last will is a solution. Link to comment Share on other sites More sharing options...
Froggybanrai Posted November 26, 2020 Share Posted November 26, 2020 Prob with joint account is that some banks (TMB for one) refuse ATM card and Mobile App to this type of account, so it's not very convenient, you can only withdraw from the bank counter. Link to comment Share on other sites More sharing options...
khunPer Posted November 26, 2020 Share Posted November 26, 2020 On 11/20/2020 at 6:15 AM, NACHALUAY said: I think her using my ATM card may not be so reliable or efficient, Is there a way I can make sure of this? Using the ATM as quick as possible for access to some – sometimes needed – cash is often talked about among Thai-wifes, but there will be a limit per withdrawal, and a daily maximum limit like for example 100k baht. It might be weird if the deceased use the ATM up to a week after passing away, even when believing in ghosts and spirits... Normally a bank shall freeze an account when notified about the death of the account holder. The solution is making a Thai last will, and as there is (at the moment) no inheritance tax in Thailand, using the ATM, as long as it's possible, by the beneficiary in the last will might no be considered a crime. If you have some extra emergency cash in a "rainy day account", you could make that account a shared account with two names, which will give you wife access to some cash – and preferably still make a Thai last will in favor of your wife – I'm using that solution with my Thai girlfriend, which also gives her access to our emergency fund if something non-fatal happens to me. Link to comment Share on other sites More sharing options...
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