Anyone use a POD (pay on death) form with their Thai bank?

[giddyup]

3 minutes ago, jacko45k said:

The police would know and I suspect they would act to have accounts locked. 

How would the police know, by checking every bank in Thailand? I very much doubt if police check every deceased persons account to see whether it's a joint account and freeze it if it is. Makes no sense.

[jacko45k]

8 minutes ago, giddyup said:

How would the police know, by checking every bank in Thailand? I very much doubt if police check every deceased persons account to see whether it's a joint account and freeze it if it is. Makes no sense.

Well immigration ( a division of the police) can supply that information for those on say retirement extensions. They can also go through the belongings. I had a  pal die in hospital and the police were round 'securing his belongings' in short order.  

[Sheryl]

12 hours ago, crazykopite said:

I can confirm trying to get money from a deceased bank account in Thailand is an absolute nightmare even if like me you are named in the Thai will as the executer of the deceased estate lawyers have to be used along with the court’s approval which becomes expensive 

Can you give an idea of exactly how expensive?

[hotandsticky]

32 minutes ago, jacko45k said:

The police would know and I suspect they would act to have accounts locked. 

 

 

That is incorrect.

[thailand49]

4 hours ago, giddyup said:

Thanks, that would solve the problem of my partner not being to access the 800K I use for Immigration. Just transfer that money into our joint account which has much more than the 1.6 mill needed. Question is, when would be the right time to do it without causing Immigration problems?

Not every office immigration from what I understand will allow you to use a joint account you need to personally check.

 

To be safe if your location allows if it was me I most likely do this. Your 800,000 is now in your name let say you renew on 20/1 let 3 month past 20/4 now go to your bank add your wife to that account topping off 1.6

 

Or, if Im correct you mentioned already have a joint confirm your immigration location a joint book can be used if so when time update book and obtain a letter for that joint as a backup also update your book and letter for 800,000 account submit Joint book with application.

 

If successful now transfer your 800,000 close account into your joint. 

Does that help.

[giddyup]

46 minutes ago, thailand49 said:

Not every office immigration from what I understand will allow you to use a joint account you need to personally check.

 

To be safe if your location allows if it was me I most likely do this. Your 800,000 is now in your name let say you renew on 20/1 let 3 month past 20/4 now go to your bank add your wife to that account topping off 1.6

 

Or, if Im correct you mentioned already have a joint confirm your immigration location a joint book can be used if so when time update book and obtain a letter for that joint as a backup also update your book and letter for 800,000 account submit Joint book with application.

 

If successful now transfer your 800,000 close account into your joint. 

Does that help.

Yes, thanks. Sounds like a good solution if Immigration happy to accept joint account.

[sometime]

On 12/12/2024 at 9:23 AM, chiang mai said:

Instead of a joint account, consider opening an "either/or" account which can be transacted upon independently and should give survivor benefits to the other person. There's probably not much you can do about the 800k account because most banks these days do require probate.

Thats what our bank book say for the joint account at SCB "either/or"

[digger70]

23 hours ago, Sheryl said:

Do you have a (non AI) link for this? As these banks have told me differently i.r. no POD provision for Thai Bank accounts.

 

I have a Thai will specifically for this reason. 

Sorry  I don't , this is the only thing that I could find . 

I will see my bank early next year and try to find out for sure.

[Sheryl]

16 minutes ago, digger70 said:

Sorry  I don't , this is the only thing that I could find . 

I will see my bank early next year and try to find out for sure.

Answer will be no. I have explored this many times.

 

That AI "answer" just combined a listing of  Thai banks with generic explanation of what POD designation is.