Should I or Shouldn’t I

[StayinThailand2much]

3 hours ago, oldestswinger said:

You might also feel happier opening an account in Singapore.

That's another excellent idea, with Singapore probably a safer place with international banks, and only a short distance away.

[Negita43]

9 hours ago, oobar said:

Maybe the OP could go a similar route, if allowable in the UK.

Thanks I'll look into it but I have to say I think the UK is far more unfriendly to expats than the uSA

[Negita43]

20 minutes ago, Sticky Rice Balls said:

i just use 2 condoms  ????

Sure but where do you put them?

[Negita43]

To all those suggesting Singapore as a place for a bank account (I am waiting for a call from Standard Chartered at the moment)

In todays BBC news. https://www.bbc.co.uk/news/business-66529632

I guess things might tighten up for a time - from my point of view Murphy's Law!!

[patman30]

sell it all, transfer the money to here, and buy land, gold, silver for the wife.
(too much uncertainty atm with economies and currencies)
avoid her having headaches and expense when you are gone.
allows you both to enjoy it while you are still here.
you could most likely setup a small resort for her with the funds

Edited August 17, 2023 by patman30

[Mike Teavee]

On 8/16/2023 at 11:10 AM, Eff1n2ret said:

I opened an account with Skipton International in Guernsey

If you don't mind me asking, what are the monthly fees & minimum credit balance for an account like that.

[Mike Teavee]

1 hour ago, Negita43 said:

To all those suggesting Singapore as a place for a bank account (I am waiting for a call from Standard Chartered at the moment)

In todays BBC news. https://www.bbc.co.uk/news/business-66529632

I guess things might tighten up for a time - from my point of view Murphy's Law!!

When I worked in SG I needed to have an Employment Pass & condo lease agreement to open my Citibank account, IIRC I just needed the EP when I was opening a POSB account, am pretty sure you wouldn't be able to open an account there if you didn't have a longterm permission to stay (EP, PR etc...). 

 

On the other hand I left SG 3.5 years ago & cannot get Citi to close my account, seems they're happy for me to have a Thai address (Sent my new Debit Card here) & Thai Phone number (Which I use for OTP via SMS) so I just leave it ticking over with a few SGD in it. 

 

 

 

 

[Eff1n2ret]

43 minutes ago, Mike Teavee said:

If you don't mind me asking, what are the monthly fees & minimum credit balance for an account like that.

Their current requirements are here:-- Personal Access Account | Skipton International Ltd

 

I'm surprised to see that apparently new customers have to stump up 25K GBP, as it wasn't anything like that when I opened my account, I can't remember how much I put in to start with. If that is in fact the minimum opening balance I guess that might be prohibitive for many reading this. The minimum balance to earn interest is 10k.

 

They are very good to deal with, all done online once the account is up and running. I found it very easy to set up because I did it in person at St Peter Port when I was visiting my sister, who lives there.

[Negita43]

On 8/15/2023 at 12:53 PM, Lacessit said:

My GF has enough funds for 18 months in our joint account.

My understanding is that joint accounts are frozen until the will is processed (probate in the UK) so she will need some money in her own account whilst that happens.

[Lacessit]

5 minutes ago, Negita43 said:

My understanding is that joint accounts are frozen until the will is processed (probate in the UK) so she will need some money in her own account whilst that happens.

You may be right, I will check that.

[Mike Teavee]

19 hours ago, Negita43 said:

My understanding is that joint accounts are frozen until the will is processed (probate in the UK) so she will need some money in her own account whilst that happens.

I don't think that's correct, as Joint Bank Accounts are normally passed by "Survivorship" so the money automatically goes to the surviving holder.

 

This can be challenged but I believe the Banks will allow the surviving holder to take the money so they would need to be sued for it's return. 

 

Edit: Example Case... 

https://www.gadlegal.co.uk/news/elder-law/the-inherent-dangers-of-joint-bank-accounts#:~:text=Joint accounts are ordinarily subject,of great convenience to all.

 

Guy was allowed to take out the money after his mum's death but had to repay it to the estate when it was proven that she put all of the money into the account so rather than being treated as a Joint Account it was treated as a Trust and so part of her estate.

 

 

Edited August 19, 2023 by Mike Teavee

[couchpotato]

19 hours ago, Negita43 said:

My understanding is that joint accounts are frozen until the will is processed (probate in the UK) so she will need some money in her own account whilst that happens.

Wrong understanding. Joint accounts (with either/or signatures) do not come under any probate/court action in Thailand (whichever joint holder dies first).

But account must be either/or signatures, and can be fixed deposit or savings.