Not another Wise question

[anchadian]

If say you transfer a lump sum to Wise from your Thai bank account and set up a scheduled monthly transfer to your Thai girlfriend over a period of your choosing, how would Wise know of your eventual passing?

[Utalk2mutt]

22 minutes ago, anchadian said:

If say you transfer a lump sum to Wise from your Thai bank account and set up a scheduled monthly transfer to your Thai girlfriend over a period of your choosing, how would Wise know of your eventual passing?

I don’t wish to be rude but why don’t you actually ask Wise?

[scubascuba3]

Not sure you can go Thai bank account to Wise account

[HappyExpat57]

1 minute ago, Utalk2mutt said:

25 minutes ago, anchadian said:

If say you transfer a lump sum to Wise from your Thai bank account and set up a scheduled monthly transfer to your Thai girlfriend over a period of your choosing, how would Wise know of your eventual passing?

I don’t wish to be rude but why don’t you actually ask Wise?

 

I've personally contacted Wise support and they will bend over backwards to help.

 

Just give them a call, or they respond to Facebook queries VERY quickly.

[KannikaP]

24 minutes ago, scubascuba3 said:

Not sure you can go Thai bank account to Wise account

You cannot! Unless the THB is converted to GBP, USD or EUR first.

[anchadian]

25 minutes ago, scubascuba3 said:

Not sure you can go Thai bank account to Wise account

Either way, you can always leave and not transfer to Thailand income in your Wise account

[Gottfrid]

51 minutes ago, anchadian said:

If say you transfer a lump sum to Wise from your Thai bank account and set up a scheduled monthly transfer to your Thai girlfriend over a period of your choosing, how would Wise know of your eventual passing?

Why would you need to do that? Why not just set up a transfer from your Thai bank account and let her be the one that receives that rest of the money after you die?

[anchadian]

2 minutes ago, KannikaP said:

You cannot! Unless the THB is converted to GBP, USD or EUR first.

Yes, understand that.  subject to exchange rates

[anchadian]

7 minutes ago, Gottfrid said:

Why would you need to do that? Why not just set up a transfer from your Thai bank account and let her be the one that receives that rest of the money after you die?

And if you have a Thai wife with whom you are separated?

That's why I asked another question in another thread, open a joint bank account ('either or') with your gf and she withdraws money in that Thai bank account on your eventual passing.  Is that legal?

 

A Thai Will is not possible due to the wife contesting it.

 

Edited June 9 by anchadian

[Gottfrid]

10 minutes ago, anchadian said:

And if you have a Thai wife with whom you are separated?

That's why I asked another question in another thread, open a joint bank account ('either or') with your gf and she withdraws money in that Thai bank account on your eventual passing.  Is that legal?

 

A Thai Will is not possible due to the wife contesting it.

 

Se to that the account you open for her is in both your names.

[anchadian]

5 minutes ago, Gottfrid said:

Se to that the account you open for her is in both your names.

Yes of course, an 'either/or' account in both names, but is that LEGAL when one of the holders passes for the surviving holder to withdraw money?

Edited June 9 by anchadian

[KannikaP]

23 minutes ago, anchadian said:

Yes, understand that.  subject to exchange rates

EVERY conversion of money to another currency is subject to exchange rates, and fees of course.

[anchadian]

Let me apologize, the problem is now solved (must be my age)

 

Several months ago, my gf opened a Bkk bank savings account in her name and only I have the web log in details.  The bank book and debit card are safely lock up for which my gf has access.

 

You might say, 'so you trust your gf' and the simple answer to that is Yes,  Don't we all trust our wives and/or girlfriends? 555.

Edited June 9 by anchadian

[MangoKorat]

2 hours ago, anchadian said:

If say you transfer a lump sum to Wise from your Thai bank account and set up a scheduled monthly transfer to your Thai girlfriend over a period of your choosing, how would Wise know of your eventual passing?

Make sure the executors of your will have details of all your bank accounts.

[Moonlover]

2 hours ago, anchadian said:

If say you transfer a lump sum to Wise from your Thai bank account and set up a scheduled monthly transfer to your Thai girlfriend over a period of your choosing, how would Wise know of your eventual passing?

Until Wise becomes aware of your demise, they will continue to do the transfer until either the money runs out, or the period you have set expires.

 

But why worry about it, what does it matter to you? You're dead and gone. If you're bothered about 'over paying' her, set up the transfers in limited chunks, say 6 months. If you're still alive and kicking, renew the arrangement.

[Gottfrid]

2 hours ago, anchadian said:

Yes of course, an 'either/or' account in both names, but is that LEGAL when one of the holders passes for the surviving holder to withdraw money?

As far as I know yes, as both stand for the account. It´s impossible to say who owns the money.

[foreverlomsak]

4 hours ago, anchadian said:

If say you transfer a lump sum to Wise from your Thai bank account and set up a scheduled monthly transfer to your Thai girlfriend over a period of your choosing, how would Wise know of your eventual passing?

Problem no 1, Wise do not have a SWIFT code for the Thai bank to use for the transfer.

Problem no 2, have you considered the effects of the exchange rates the Thai bank uses.

So long as there is money in the account Wise will just keep sending monthly until somebody notifies them of your demise, then the account will be frozen until the Courts decide who gets what. Not sure if a ruling in a Thai court will stand up in your home country.

[anchadian]

2 hours ago, MangoKorat said:

Make sure the executors of your will have details of all your bank accounts.

See my earlier post

[anchadian]

16 minutes ago, foreverlomsak said:

Problem no 1, Wise do not have a SWIFT code for the Thai bank to use for the transfer.

Problem no 2, have you considered the effects of the exchange rates the Thai bank uses.

So long as there is money in the account Wise will just keep sending monthly until somebody notifies them of your demise, then the account will be frozen until the Courts decide who gets what. Not sure if a ruling in a Thai court will stand up in your home country.

No problem using your Thai debit card.

[anchadian]

1 hour ago, Gottfrid said:

 

 

Edited June 9 by anchadian

[billd766]

3 hours ago, anchadian said:

Let me apologize, the problem is now solved (must be my age)

 

Several months ago, my gf opened a Bkk bank savings account in her name and only I have the web log in details.  The bank book and debit card are safely lock up for which my gf has access.

 

You might say, 'so you trust your gf' and the simple answer to that is Yes,  Don't we all trust our wives and/or girlfriends? 555.

I certainly do, and have done for nigh on 30 years. 

[anchadian]

1 hour ago, billd766 said:

I certainly do, and have done for nigh on 30 years. 

Good for you.  In my case for the past 17 years.

[treetops]

8 hours ago, scubascuba3 said:

Not sure you can go Thai bank account to Wise account

 

You can, but it's an inefficient way to get money there as it's the equivalent of using your card abroad with all the inherent charges.   But if you have the SCB Planet card (I don't) then it might not be too bad!

 

 

[SingAPorn]

Currency Fair is worse. Far to slow and takes ages for the cash to be credited at K Bank,

[KannikaP]

8 hours ago, KannikaP said:

You cannot! Unless the THB is converted to GBP, USD or EUR first.

I don't know how anyone can be confused at what I wrote. You CANNOT send THB directly to Wise.

Must be in GBP, USD, or EUR.

[anchadian]

Correct unless you use your Thai debit card and suffer the add-on fees, Wise's fee and exchange rate to GPB.  

Edited June 9 by anchadian