Joint account

[KannikaP]

I read a while back that the 400/800 Deposit for Mr Immigration can be kept in a Joint account which has one of the names ie my Wife's, not showing, so that it looks like a single account, but when I kick it, she can take it all out legally before Probate.

Or there is a Joint account which either one of us can use individually. Or is someone pulling my leg please?

[carlyai]

Hope you get an answer as that would be great.

Another solution would be to have B1.6mil in joint account with the best bank rate in a yearly term deposit.

[In Full Agreement]

21 minutes ago, KannikaP said:

I read a while back that the 400/800 Deposit for Mr Immigration can be kept in a Joint account which has one of the names ie my Wife's, not showing, so that it looks like a single account, but when I kick it, she can take it all out legally before Probate.

 

 

The banks seem fixated on having authorization from the  court before they release any baht to an heir.

 

 

[Njoku]

Im under the impression that amount has to be in your name only, get a will.

 

Another good reason to have it in your name only is even though you think you know your wife there was a case once in here where the mrs had access to the masters bank account, coming up for visa renewal he realised she had spend the bulk of those funds putting him in the pickle.

 

May not have had any malice intended but do we need problems in our old age?

[KannikaP]

1 minute ago, In Full Agreement said:

 

 

The banks seem fixated on having authorization from the  court before they release any baht to an heir.

 

 

She can legally empty the Joint account, it's the Immigration Deposit I want to protect.

[KannikaP]

1 minute ago, Njoku said:

Im under the impression that amount has to be in your name only, get a will.

Will is done and dusted, all money in all Thai joint accounts  goes to her immediately, before Probate, account numbers mentioned in the Will.

It's the immigration money I want her to have a s a p.

[KannikaP]

7 minutes ago, carlyai said:

Another solution would be to have B1.6mil in joint account with the best bank rate in a yearly term deposit.

Immigration WILL NOT accept a Joint Account for the Extension deposit.

[carlyai]

1 minute ago, In Full Agreement said:

 

 

The banks seem fixated on having authorization from the  court before they release any baht to an heir.

 

 

Yes, when I questioned my bank they said new requirements from new government policy. They also said that my wife and I would not be able to transfer significant amounts between our accounts, so I tried it and we can, maybe releasing baht is the same, ie it is a new reg. but maybe not inforced.

[KannikaP]

I have transferred everything from MY current account to the Joint one...........but I keep the ATM card, and she cannot do Telephone or Online Banking !

[carlyai]

2 minutes ago, KannikaP said:

Immigration WILL NOT accept a Joint Account for the Extension deposit.

Don't know why not. Their initial reason for not allowing joint accounts was that if you had B800000 only half of it was yours as it was a joint account.

That's what they told me ages ago.

[KannikaP]

6 minutes ago, carlyai said:

Don't know why not. Their initial reason for not allowing joint accounts was that if you had B800000 only half of it was yours as it was a joint account.

That's what they told me ages ago.

WRONG! And don't use the word 'reason' in a post regarding Immigration, 555

In a joint account it ALL belongs to whoever takes it out !

[topt]

On 1/19/2025 at 4:58 PM, KannikaP said:

I read a while back that the 400/800 Deposit for Mr Immigration can be kept in a Joint account which has one of the names ie my Wife's, not showing, so that it looks like a single account, but when I kick it, she can take it all out legally before Probate.

Or there is a Joint account which either one of us can use individually. Or is someone pulling my leg please?

There has been mention on here of "either/or" accounts where the other person is not visible on the account except to the bank.

From memory @chiang mai may have talked about this but I may be taking his name in vain.

Try doing a search - and also not sure if you could use for Immigration purposes.

[soisanuk]

When I set up a joint account with my Thai partner at Bangkok Bank several years ago, I was asked if I wanted it to require both of our signatures to withdraw funds or only one by either of us.  We chose either one of us and also not to have an ATM card, only the bank book.

 

It is my understanding that even if you have a will designating your beneficiary for all your bank accounts, for them to get access, the executor must still use an attorney to apply to the probate court for an order to be given to the bank allowing access.

 

Since I wasn't sure whether being a joint account that the joint owner would also be barred from taking the funds without the probate court order if I died, I advised my partner to quickly take the bank book to the bank and withdraw the funds before the bank was notified of my death. 

 

However, it was my partner that died first - being 26 years older, that was not anticipated.  We had needed the funds earlier for something else, so there wasn't much in the account.  It was a few months later that I was at the bank and informed them the joint account holder was deceased. They said I had to close the account, they had me withdraw the funds and they closed the account.  Nothing was said about needing a court order.  

[Pumpuynarak]

44 minutes ago, soisanuk said:

When I set up a joint account with my Thai partner at Bangkok Bank several years ago, I was asked if I wanted it to require both of our signatures to withdraw funds or only one by either of us.  We chose either one of us and also not to have an ATM card, only the bank book.

 

It is my understanding that even if you have a will designating your beneficiary for all your bank accounts, for them to get access, the executor must still use an attorney to apply to the probate court for an order to be given to the bank allowing access.

 

Since I wasn't sure whether being a joint account that the joint owner would also be barred from taking the funds without the probate court order if I died, I advised my partner to quickly take the bank book to the bank and withdraw the funds before the bank was notified of my death. 

 

However, it was my partner that died first - being 26 years older, that was not anticipated.  We had needed the funds earlier for something else, so there wasn't much in the account.  It was a few months later that I was at the bank and informed them the joint account holder was deceased. They said I had to close the account, they had me withdraw the funds and they closed the account.  Nothing was said about needing a court order.  

 

and WHO is going to do that ?

[Wullie Mercer]

I used to use or joint account, way in the past, but was then informed if I wanted to continue we would have to show DOUBLE the amount i.e. retirement was 1,600,000 baht!!!

Needless to say I opened an account in my name only.

[DrJack54]

This topic comes up more commonly for extensions retirement as funds required in bank all year round.

For Marriage the funds only in bank for couple of months.

One suggestion is to use income method. 

As one example...I transfer 120k baht every month (extension retirement)

Instantly when funds hit my Kasikorn bank the money is transferred to my long term partners account.

My immigration bank account basically has zero balance.

 

I leave the stage then zero funds (chump change) left in my bank in my name only. 

[CMBob]

OP, trust you understand from some of the correct responses here that your "immigration" account (the one which you maintain for Immigration purposes) must be in your name alone.  Anybody suggesting anything else is simply wrong.  As poster Mercer has noted above, some immigration offices have accepted in the past a true joint account for immigration purposes....but only if the amount in the account is double the amount required for you alone.  I have no idea if all or any immigration offices nowadays are okay with that concept of a joint account with double the single amount.  Perhaps anybody doing that now might chime in here (and, if so, it would be helpful to state which immigration office is involved).

 

Regardless, you mention that you have another joint account and, as your spouse will apparently have access to those funds up your death, it would appear that your spouse won't have any immediate issue with having funds available.  As to the "immigration" account, the "probate" process will take around 5-6 months and the court will issue an order (complying with your Will provisions) awarding the funds to your spouse and then those funds can be accessed by showing the bank a copy of that court order.  The cost of probating that one account should not exceed 50,000-60,000 baht (hopefully your spouse shops around if any lawyer office is quoting significantly higher numbers).  

[Dante99]

Kannika

 

What you want to do is possible but it is not called a Joint Account.  Using that name will fail.

 

You get a regular account in one name.  Then you request that the bank authorize a second person to transact on the account.  Standard bank form.  That second person does not have any account ownership rights but can make transactios.  This flys under the immigration scrutiny and has been used buy quite a few folks.

[giddyup]

On 1/19/2025 at 5:28 PM, KannikaP said:

Immigration WILL NOT accept a Joint Account for the Extension deposit.

Not true. I used a joint account in Pattaya for my first visa extension. As long as the account had 1.6 million baht, or more, it was accepted.

[udontomi]

If it is a JOINT account, doesn't the joint account holder have equal access/owner ship?  Why would the question of being a heir come up?  Thanks in advance!!

[udontomi]

Dr Jack 54, Do you mean that in using the monthly method, the transfer can be used immediately?  How many months if any does this method have to be used before Imm recognizes it as acceptable for a retirement visa?  I'm thinking of switching back from the 800,000 method.

[Wrwest]

On 1/19/2025 at 5:26 PM, KannikaP said:

Will is done and dusted, all money in all Thai joint accounts  goes to her immediately, before Probate, account numbers mentioned in the Will.

It's the immigration money I want her to have a s a p.

I am acting as Executor as stated in my deceased friend's WWill. It will be up to 4 months before Thai Court officially appoints me. Until then, bank accounts can not be accessed.

[DrJack54]

40 minutes ago, udontomi said:

Dr Jack 54, Do you mean that in using the monthly method, the transfer can be used immediately?  How many months if any does this method have to be used before Imm recognizes it as acceptable for a retirement visa?  I'm thinking of switching back from the 800,000 method.

To change from extensions using money in bank to using monthly transfers is a pain for those with embassies that do not provide "income letter" eg UK, USA, AU being 3.

 

You need to run both methods in concert.

I'm my situation I'm currently doing the monthly transfers PLUS also satisfying the money in bank option.

 

Next extension (Nov) I will show compliance with funds in bank and 12+ monthly transfers from abroad.

Then following year just do the monthly transfers.

 

From then on as mentioned my  "immigration bank account" will have small balance.

On 14 of every month I do the transfer using WISE app from my Oz bank account app.

The transfer is instant and lands in my Kasikorn bank account.

I say to my Thai partner ..."money come" 

She goes to ATM (Kasikorn in our condo building) and transfers the funds into her account. 

Any non immigration matters eg purchase of car/real estate/medical etc is done in same way. 

BTW: not married..

[KannikaP]

2 hours ago, DrJack54 said:

This topic comes up more commonly for extensions retirement as funds required in bank all year round.

For Marriage the funds only in bank for couple of months.

One suggestion is to use income method. 

As one example...I transfer 120k baht every month (extension retirement)

Instantly when funds hit my Kasikorn bank the money is transferred to my long term partners account.

My immigration bank account basically has zero balance.

 

I leave the stage then zero funds (chump change) left in my bank in my name only. 

I do exactly the same, Wise to my 'Monthly' account, immediately then into our Joint account, available to either of us.

However last time I re-newed my Extension, MISS IO, asked that next year the 12th transfer be left in the Monthly account until the Extension was done.

WHY? TIT!

[KannikaP]

41 minutes ago, DrJack54 said:

On 14 of every month I do the transfer using WISE app from my Oz bank account app.

The transfer is instant and lands in my Kasikorn bank account.

Does it not take an extra day to arrive in K Bank because you ticked For Long Stay Purposes, and so it is then noted as an International Transfer, as it does with Bkk Bank.

[BritManToo]

6 minutes ago, KannikaP said:

Does it not take an extra day to arrive in K Bank because you ticked For Long Stay Purposes, and so it is then noted as an International Transfer, as it does with Bkk Bank.

That drop down menu doesn't appear in my Wise account any more.

Everything arrives as 'international transfer'.

[KannikaP]

8 minutes ago, BritManToo said:

That drop down menu doesn't appear in my Wise account any more.

Everything arrives as 'international transfer'.

In my case, sending to Bkk Bank, the Long Term option is still there, hidden as the last option in the list, as it always has been.

Just tried a Bht 1000 to Bkk Bank, and it says it will arrive, as usual, at 14.03 tomorrow and cost Bht 44.34. Maybe Kasikorn is different.

[DrJack54]

21 minutes ago, KannikaP said:

In my case, sending to Bkk Bank, the Long Term option is still there, hidden as the last option in the list, as it always has been.

Just tried a Bht 1000 to Bkk Bank, and it says it will arrive, as usual, at 14.03 tomorrow and cost Bht 44.34. Maybe Kasikorn is different.

Not sure why your transfer is overnight. 

Mine is instant.

[KannikaP]

8 minutes ago, DrJack54 said:

Not sure why your transfer is overnight. 

Mine is instant.

Because I ticked the "Long Stay' option, so a human being (Thai type)  is involved. I set up another transfer and ticked '"Family etc". That would have been instant. 

I cancelled both transfers.

[DrJack54]

3 minutes ago, KannikaP said:

Because I ticked the "Long Stay' option, so a human being (Thai type)  is involved

I always select long stay option.

As I wrote...Instant.