wife's access to falang bank account if falang deceased

[khunPer]

2 minutes ago, Froggybanrai said:

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.

I got no problem with joint accounts (two names) and ATM-cards, even two cards for one joined account; but I'm using Bangkok Bank and SCB.

[Thingamabob]

Joint account for you and your wife for general purposes, single account for you for 800k willed to your wife in the event of your death. Can't really understand what the problem is. 

[DJ54]

Twice within 1 year my US bank account was frozen because a reporting agency 

notified Bank I was deceased. I lived in China at the time and luckily the next day

i was traveling to US on business trip. 

 

It took two two days to sort out. Went to bank showed passport, two drivers valid license US and China. The accounts manager had to call and get released.

He started getting angry on the call because they wouldn’t unlock even though

I was standing their with a lot of evidence it was me.

 

Resulted I had to go to Social Security office and get a letter stating I was alive. 

They could only provide proof that payments had been made for death or any other reason. 

 

Then it happened again this time I just returned to China from a business trip in US. The day before I returned I’d gone to another branch of same bank to make

a change of service. Luckily I called the bank from first occurrence and told them

Account frozen again and i was at another branch the day prior. They did a conference call with me, branch I went to day prior and the holder of the keys

to release freeze. .. They asked the manager at branch was i there day prior.

He said yes he was at our branch and he wasn’t dead at that time..

 

so it can be a real pain in the <deleted> even if your not dead but thought to be...

 

[86Tiger]

5 hours ago, PFMills said:

Has anyone done this at Bangkok Bank and has anyone done it at CIMB. Tks

 

Yes.  I set up my account at Bangkok Bank so wife has access.  She also has her own ATM card to the account and recorded as hers by the bank.  Only my name "shows" on the account.

 

 

[wwest5829]

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

My thought is a Thai Will stating that she is the sole beneficiary of anything I have in Thailand (separate Will for US retirement to go to Sons). I will accompany this with a sealed letter with my ATM access code. She also knows of a bit of US dollars cash stashed to tide her over.

[thaibeachlovers]

On 11/20/2020 at 6:32 PM, richard_smith237 said:

Joint account. 

 

Absolutely no way I'd ever have had a joint account with my wife. Never even considered it. No way, no chance, never happen.

Her family would have had it emptied soon as I left country for my yearly visit to home country.

 

 

Far as I'm aware any account, whether joint or not is frozen soon as the bank is informed of death. IMO that would be to stop spouses knocking the other off to empty the account.

Only way to be sure is to make a will specifying bank account and for her to have access to it. I did that and also informed the bank.

 

 

 

 

[Tracyb]

8 hours ago, PFMills said:

Has anyone done this at Bangkok Bank and has anyone done it at CIMB. Tks

Mine was at Bangkok Bank!

[thaibeachlovers]

3 hours ago, khunPer said:

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.

If one trusts the wife the simplest solution is to give the wife a sum enough to survive till the will is actioned, and a Thai will specifying the account. If one doesn't trust the wife not to spend it, then why would one allow her access to one's money in a joint account?

[khunPer]

15 minutes ago, thaibeachlovers said:

If one trusts the wife the simplest solution is to give the wife a sum enough to survive till the will is actioned, and a Thai will specifying the account. If one doesn't trust the wife not to spend it, then why would one allow her access to one's money in a joint account?

Because a shared "rainy day" emergency account work both ways, in case something happens to either party...????

 

It's of course a question of faith and trust, but from experience it has worked perfect for me during so far little more than 15 years – one ATM card is even held by my Thai girlfriend's family, in case something happens to both of us – if the money is in an account with one name only, it might not be helpful in any case; i.e. if something happens to the spouse and only she has access to the account.

[Autonuaq]

make a last will in Thailand at a Thai lawyers office and this will will make it possible the bankaccount is legally assigned to her. Also be wise put some money in a separate bank account that is on her name so she can use this money i case all talks longer than expected.

[Bell1234]

Just make sure she has your internet banking password.. Takes 1 minute to transfer all funds to her account.