Best time to transfer the 800K to another account?

[hotandsticky]

Just now, giddyup said:

What did I just say? Doesn't matter, that's not what this post is about. You're derailing the subject.

 

 

You incorrectly quoted the following " updated bankbook, as well as passport and current extension page"

 

I was simply correcting your mistake  (you are welcome)...... the extension page is NOT required. EXACTLY what is required is EXACTLY what I posted. 

[prakhonchai nick]

24 minutes ago, Liquorice said:

There are two things you can do.

1. Make a Will leaving the funds to your g/f.
2. Add her to your FT account by way of power of attorney at the bank. Her name does not appear on any letters, the passbook or any statements in this situation.

 

In the case of being legally married, if either one of the above is followed, the bank will immediately release funds on proof of a death certificate.
In the case of a g/f the bank requires a Court Order to release the funds, but either of the above two steps shows your intent to the Court and very easy to obtain the Court order.

I have assisted a good number of Thai widows following their foreign husbands death. Apart from one occasion earlier this year when Bangkok Bank agreed to pay out the funds from husbands sole account to the widow with production of the death certificate....NO WILL.... all other Thai banks have insisted on Thai probate. Thai law states that when someone dies intestate (no Will)  only a portion of the assets go to the widow, yet Bangkok Bank ignored that fact!!!!!!!

 

 

[mahtin]

30 minutes ago, hotandsticky said:

Buriram never asked you to return after 3 months and I don't think Khon Kaen do.

 

 

I have only experienced it as a requirement in Jomtien.

Khon Kaen did at first, but soon dropped it and haven't for several years now.

[worgeordie]

1 hour ago, hotandsticky said:

Tell me one Thai bank that has been taken over by Foreign banks......that statement gives you no credibility.

Bank of Asia  ABN Amro  , Thai Dhanu Bank ,  Development bank of Singapore

Laemthong Bank assets taken over by UOB

regards Worgeordie

[giddyup]

39 minutes ago, hotandsticky said:

 

 

You incorrectly quoted the following " updated bankbook, as well as passport and current extension page"

 

I was simply correcting your mistake  (you are welcome)...... the extension page is NOT required. EXACTLY what is required is EXACTLY what I posted. 

I am not incorrect. That is exactly what my letter asked for. Yours may have asked for something different, but if you check other posts about the requirements of that letter it clearly asks for copy of updated bankbook, and front page and current extension page of passport. End of.

 

[hotandsticky]

2 minutes ago, giddyup said:

I am not incorrect. That is exactly what my letter asked for. Yours may have asked for something different, but if you check other posts about the requirements of that letter it clearly asks for copy of updated bankbook, and front page and current extension page of passport. End of.

You would have to post that for me to believe. Mine doesn't make any reference to a copy of the extension page - and the letter looks like a standard template.

 

I just want people to understand exactly what is required and I would find it odd that 2 people dealing with the same Immigration office are given different 90 day letters ........mas this is Thailand, perhaps I shouldn't find that odd. Period 

[giddyup]

8 minutes ago, hotandsticky said:

You would have to post that for me to believe. Mine doesn't make any reference to a copy of the extension page - and the letter looks like a standard template.

 

I just want people to understand exactly what is required and I would find it odd that 2 people dealing with the same Immigration office are given different 90 day letters ........mas this is Thailand, perhaps I shouldn't find that odd. Period 

I just did. Look at my last post.

[hotandsticky]

31 minutes ago, giddyup said:

I just did. Look at my last post.

That is not an 'appointment letter '....this is ..

 

 

[giddyup]

23 minutes ago, hotandsticky said:

That is not an 'appointment letter '....this is ..

 

 

That's the exact letter given to me after getting my new extension. Same letter, and only letter I've received for the last three years. Your attachment doesn't open, conveniently.

[giddyup]

24 minutes ago, hotandsticky said:

That is not an 'appointment letter '....this is ..

 

 

It's exactly the same letter. What are you on about?

[hotandsticky]

Just now, giddyup said:

That's the exact letter given to me after getting my new extension. Same letter, and only letter I've received for the last three years. Your attachment doesn't open.

I can open it.

 

LOL...we have the same piece of paper (which is useless anyway) and you are looking at the box on the left whilst I am looking at the dated instruction on the bottom ????.

 

The only time that I ever went back I handed over a copy of the bank book and passport ID page to desk 8.

[Liquorice]

53 minutes ago, prakhonchai nick said:

I have assisted a good number of Thai widows following their foreign husbands death. Apart from one occasion earlier this year when Bangkok Bank agreed to pay out the funds from husbands sole account to the widow with production of the death certificate....NO WILL.... all other Thai banks have insisted on Thai probate.

I've also assisted a number of Thai widows claiming bank funds (and pensions where applicable).
According to Thailand Inheritance laws, a legal spouse is automatically entitled to the husband's assets, unless a Will states otherwise.
Where a Will is in place, probate shouldn't apply, and the bank will immediately release funds to the widow (my experience).

 

Different kettle of fish, even with a Will relating to Thai g/f.
A Court Order will be required regardless.

[TheFishman1]

Just have a will drawn up

[SunsetT]

6 hours ago, Peterw42 said:

Do you really think that happens (anywhere in the world) ?  As I wrote above, police are not locking accounts the day you pass.

As above, I was still operating my fathers accounts back in Australia months after he passed. Dividends where still coming in, direct debits where still going out, bills still needed to be paid. I even paid for his funeral from that account.

 

That is Oz where u and your father are native. This is Thailand where you are a foreigner and different rules apply. A Brit friend died last year in Udon Thani and very shortly afterwards his long-term girlfriend could not access his/their account/s. She was told that when a foreigner dies and the police are informed they immediately inform the foreigner's embassy and all their bank accounts are immediately locked.

 

 

[Rimmer]

Some bickering and baiting posts removed also replies

[KannikaP]

7 hours ago, worgeordie said:

You can have your other half on your account , she signs next to you in bank book , 

the Immigration cannot see it as it needs a black light, I don't know what it's called

but just go to bank and explain what you want to do, she can withdraw funds ,but

her name does not appear on the front page of the account book.

 

regards wogeordie

 

My Bkk Bank told us we need to close the present one and open a new one with two signatures, hers being hidden.

[skatewash]

8 hours ago, hotandsticky said:

 

...but few people bother and there are no repercussions.

Completely wrong.  Really irresponsible advice that could cause people foolish enough to follow it to not get their next retirement extension.

National policy for retirement extension using bank deposit is as follows:

At least 800k balance at least 2 months before application
At least 800k balance at least 3 months after receiving extension
At least 400k balance at all times

This is checked when you apply for your next retirement.  That is one of the purposes for immigration needing to see a 12-month bank statement (or copies of 12-months worth of pages from your passbook).  To see that you have complied with your current retirement extension financial requirements.  If you haven't you will almost certainly not be approved for your new retirement extension.  Compliance is checked retrospectively.

Edited November 14, 2022 by skatewash

[Peterw42]

1 hour ago, SunsetT said:

That is Oz where u and your father are native. This is Thailand where you are a foreigner and different rules apply. A Brit friend died last year in Udon Thani and very shortly afterwards his long-term girlfriend could not access his/their account/s. She was told that when a foreigner dies and the police are informed they immediately inform the foreigner's embassy and all their bank accounts are immediately locked.

 

 

How would the logistics of that work ? do the police then contact every single bank in Thailand to see if a foreigner by the name of Fred Smith has an account at the bank?. I just cant see how it could be done, I personally have accounts with 3 different banks, and one account was opened with a pink ID, so there isn't even a passport linked to the account.

[giddyup]

10 minutes ago, Peterw42 said:

How would the logistics of that work ? do the police then contact every single bank in Thailand to see if a foreigner by the name of Fred Smith has an account at the bank?. I just cant see how it could be done, I personally have accounts with 3 different banks, and one account was opened with a pink ID, so there isn't even a passport linked to the account.

I can't see how a joint account could be frozen denying one partner access to their money, and like you say, the police would have to do a search with every bank in Thailand for the name of the person who died. My partner said she asked the bank(s) that very question, and was told that she will still be able to access the accounts when I snuff it.

Edited November 14, 2022 by giddyup

[moe666]

Make a will leaving this person everything

[EVENKEEL]

A real easy fix it is to start using an agent, 15K/yr...problem solved.

[hotandsticky]

1 hour ago, skatewash said:

Completely wrong.  Really irresponsible advice that could cause people foolish enough to follow it to not get their next retirement extension.

National policy for retirement extension using bank deposit is as follows:

At least 800k balance at least 2 months before application
At least 800k balance at least 3 months after receiving extension
At least 400k balance at all times

This is checked when you apply for your next retirement.  That is one of the purposes for immigration needing to see a 12-month bank statement (or copies of 12-months worth of pages from your passbook).  To see that you have complied with your current retirement extension financial requirements.  If you haven't you will almost certainly not be approved for your new retirement extension.  Compliance is checked retrospectively.

I am not advocating falling below the published; I am saying that the 3 month check at Jomtien is pointless and there are no repercussions for not visiting,

 

Not attending the 90 day 'appointment' will not affect getting your next extension. Dropping below 800/400k will.

 

Is that clear for you.

[Gandtee]

10 hours ago, hotandsticky said:

 

...but few people bother and there are no repercussions.

Really? I've always waited for three months before transferring the Bt400,000. What would the consequences be if you didn't. A cancelled visa?

[hotandsticky]

49 minutes ago, Gandtee said:

Really? I've always waited for three months before transferring the Bt400,000. What would the consequences be if you didn't. A cancelled visa?

You haven't actually got a visa but, YES, you will have difficulty applying for your next extension of stay if the balance has dropped below prescribed limits.

 

 I am not proposing that (except in an exceptional case where there may be a terminal illness - this thread was about a widow accessing 'Immigration funds'.)

[Kalasin Jo]

12 hours ago, Peterw42 said:

Maybe not 100% legal, but accounts still operate and are accesable after your demise, just have an atm card or online banking setup. The day after you leave this mortal coil, your wife transfers money.

Nobody is monitoring accounts or closing them the day you pass away.

Even back in Australia, I was accessing my father account after he passed, paying bills, moving money etc (direct debits where still drawing funds).. I was even advised to by the solicitor doing the probate.

 

 

Same in UK. Once the death is notified to a bank it is obliged to freeze the account until the probate and tax ditu had been concluded. This can be very awkward if there are no other funds available to progress winding up an estate. The answer is to draw out some funds, if you can, before the bank or any other entity holding the dressed funds is notified. A spouse, or indeed anyone who has an ATM card and the access pin code on the deceased's account can withdraw funds subject to whatever limits are in place. The same goes for internet banking although this may also require possession of and access into the deceased's smart phone.

[SunsetT]

6 hours ago, Peterw42 said:

How would the logistics of that work ? do the police then contact every single bank in Thailand to see if a foreigner by the name of Fred Smith has an account at the bank?. I just cant see how it could be done, I personally have accounts with 3 different banks, and one account was opened with a pink ID, so there isn't even a passport linked to the account.

I have no idea. I am just posting what I was told. I would surmise that when an account is opened with a passport the respective embassy could be informed in the same way immigration is informed  of our location by TM30. The embassy could then contact the bank/s directly when informed of our demise. Our embassies would have a vested interest in tracking our overseas finances for tax purposes. Not sure what info. a pink ID discloses but I would think that the bank has your nationality.

Edited November 14, 2022 by SunsetT

[SunsetT]

6 hours ago, giddyup said:

I can't see how a joint account could be frozen denying one partner access to their money, and like you say, the police would have to do a search with every bank in Thailand for the name of the person who died. My partner said she asked the bank(s) that very question, and was told that she will still be able to access the accounts when I snuff it.

I dont know if it was a single or joint account or accounts.

[giddyup]

13 hours ago, hotandsticky said:

I am not advocating falling below the published; I am saying that the 3 month check at Jomtien is pointless and there are no repercussions for not visiting,

 

Not attending the 90 day 'appointment' will not affect getting your next extension. Dropping below 800/400k will.

 

Is that clear for you.

Are the requirements of the 90 day "appointment" now clear for you?

[hotandsticky]

7 minutes ago, giddyup said:

Are the requirements of the 90 day "appointment" now clear for you?

Always have been Giddy.....

[hotandsticky]

18 hours ago, Liquorice said:

I've also assisted a number of Thai widows claiming bank funds (and pensions where applicable).
According to Thailand Inheritance laws, a legal spouse is automatically entitled to the husband's assets, unless a Will states otherwise.
Where a Will is in place, probate shouldn't apply, and the bank will immediately release funds to the widow (my experience).

 

Different kettle of fish, even with a Will relating to Thai g/f.
A Court Order will be required regardless.

 

 

Could you please provide a reference for the highlighted quote above.

 

My understanding was that the Civil and Commercial Code only provided 50% for the spouse class in most cases (unless there are no other classes of heirs).

 

Section 1635. Surviving Spouse

 

The surviving spouse is entitled to the inheritance of the deceased in the class and according to the division as hereunder provided:

1. if there is an heir according to Section 1629 (1) surviving or having representatives as the case may be, such surviving spouse is entitled to the same share as an heir in the degree of children;
2. if there is an heir according to Section 1629 (3) and such heir is surviving or has representatives, or if in default of an heir according to Section 1629 (1), there is an heir according to Section 1629 (2) as the case may be, such surviving spouse is entitled to one half of the inheritance;
3. if there is an heir according to Section 1629 (4) or (6) and such heir is surviving or has representatives, or if there is an heir according to Section 1629 (5) as the case may be, such surviving spouse is entitled to two-thirds of the inheritance;
4. if there is no heir as specified in Section 1629, such surviving spouse is entitled to the whole inheritance.

Edited November 15, 2022 by hotandsticky