Joint Bank Account

[prakhonchai nick]

A Thai lady I am assisting has a joint bank account with her deceased farang husband, He died 9 years ago. The ATM card expired 6/7 years ago.

 

She has a monthly  widows pension from the UK paid into this account. She withdraws every month by visiting the bank.

 

The bank book now has many attached sheets of paper, and last week the bank said "No more" She  must have a new book and because her husband is dead, she must produce the death certificate. In the meantime she canot withdraw,   IS THAT LEGAL???. Surely she has every right to withdraw from a joint account

 

I imagine when she produces the death certificate, the account will be closed, and she will need to advise the pension fund of a new bank account.

[Boomer6969]

I  have a joint account with my wife at Bangkok Bank. So, withdrawals, payments, etc.. can be made individually. Unfortunately operations such as replacement of bankbooks, replacement of cards require the attendance of all account holders. Pretty stupid isn't, I have tried to theorise about and and/or or, and just got the expected Thai blank look of when things get complicated. 

 

So forget it and get the death certificate.

[Kwasaki]

The lady must advise the pension provider, they must have her details for the widow pension to be paid in the first place.

 

Explaining the banking system to the pension provider and asking them to pay into an account in her name surely can be arranged by providing the proof and paperwork they require. 

[lungbing]

When I was getting my letter and statements for immigration a few months ago I asked about this very problem regarding our joint account.  The bank girl assured both me and my wife that in the event of my death then on production of my death certificate the joint account would be changed to be in my wife's name only.

[brianthainess]

Yes it is right they see the death certificate.  she may also have to go and get a letter from the family court, it may probably go for probation which can take 3months.  does it need two signatures to withdraw funds from this account ?? 

[khaepmu]

I have a joint account with my Thai wife. We made it very clear to them that we wanted to be able to withdraw money without the other's permission. No problem. I was in another province and tried to withdraw some money but the bank would not let me without my wife's signature. I politely protested and they then called the branch I have my account with and I was then allowed to make the transaction. Not sure what happens when one of us dies. I hear different stories like the above. One might need a will to continue to use the account or one might be able to just present a death certificate to the bank. The bank we have the account with won't let us use the online services because it is a joint account. I told my wife to just keep using the account or transfer large amounts of funds to her individual account if she didn't want to bother with the will (we have a will). In the event of my wife's death I will probably withdraw most of the money without using the  will or death certificate. How would they know if I or my wife had passed away i wonder. Since we are legally married and have marriage certificates one would think that we could just continue using the account or closing it and opening an individual account.

[khaepmu]

On 12/23/2022 at 7:32 PM, lungbing said:

When I was getting my letter and statements for immigration a few months ago I asked about this very problem regarding our joint account.  The bank girl assured both me and my wife that in the event of my death then on production of my death certificate the joint account would be changed to be in my wife's name only.

If you don't mind, what. bank are you using.

[prakhonchai nick]

On 1/1/2023 at 8:30 AM, khaepmu said:

I have a joint account with my Thai wife. We made it very clear to them that we wanted to be able to withdraw money without the other's permission. No problem. I was in another province and tried to withdraw some money but the bank would not let me without my wife's signature. I politely protested and they then called the branch I have my account with and I was then allowed to make the transaction. Not sure what happens when one of us dies. I hear different stories like the above. One might need a will to continue to use the account or one might be able to just present a death certificate to the bank. The bank we have the account with won't let us use the online services because it is a joint account. I told my wife to just keep using the account or transfer large amounts of funds to her individual account if she didn't want to bother with the will (we have a will). In the event of my wife's death I will probably withdraw most of the money without using the  will or death certificate. How would they know if I or my wife had passed away i wonder. Since we are legally married and have marriage certificates one would think that we could just continue using the account or closing it and opening an individual account.

Just seen your post   Bank is Kasikorn

[prakhonchai nick]

On 1/1/2023 at 8:30 AM, khaepmu said:

I have a joint account with my Thai wife. We made it very clear to them that we wanted to be able to withdraw money without the other's permission. No problem. I was in another province and tried to withdraw some money but the bank would not let me without my wife's signature. I politely protested and they then called the branch I have my account with and I was then allowed to make the transaction. Not sure what happens when one of us dies. I hear different stories like the above. One might need a will to continue to use the account or one might be able to just present a death certificate to the bank. The bank we have the account with won't let us use the online services because it is a joint account. I told my wife to just keep using the account or transfer large amounts of funds to her individual account if she didn't want to bother with the will (we have a will). In the event of my wife's death I will probably withdraw most of the money without using the  will or death certificate. How would they know if I or my wife had passed away i wonder. Since we are legally married and have marriage certificates one would think that we could just continue using the account or closing it and opening an individual account.

I was told 2 days ago that KTB will open an account with just 1 name, but allow a 2nd signature to be put on the book, and that on production of the book and ID the 2nd person can make withdrawals alone.  This of course would be very useful, after death of the account holder especially when immigration money is involved and a sole account is required by them

[nigelforbes]

7 minutes ago, prakhonchai nick said:

I was told 2 days ago that KTB will open an account with just 1 name, but allow a 2nd signature to be put on the book, and that on production of the book and ID the 2nd person can make withdrawals alone.  This of course would be very useful, after death of the account holder especially when immigration money is involved and a sole account is required by them

Any bank will allow a second signatory to a bank account, although withdrawing funds from the account of somebody who has died is illegal, unless the dead persons estate has been through probate court.

[prakhonchai nick]

2 hours ago, nigelforbes said:

Any bank will allow a second signatory to a bank account, although withdrawing funds from the account of somebody who has died is illegal, unless the  dead persons estate has been through probate court.

I am told Kasikorn will not allow a signatory on a sole account

[nigelforbes]

15 minutes ago, prakhonchai nick said:

I am told Kasikorn will not allow a signatory on a sole account

If I were you I might ask again, somewhere else. And if you get the same answer, ask them how they handle Power of Attorney signatures on bank accounts.

[IvorBiggun2]

I fell foul of the joint bank account at immigration when I was new here. My wife and I turned up at immigration not knowing that instead of having 400,000 in my/our account I needed 800,000 due to the joint bank account. I/we had to travel 200km, round trip, back to the bank and cancel the joint account and open a single account in my name only. No joint account for me ever again.