Retirement And Bank Account In Two Names

[alyx]

Hey

That may have been answered but I have searched this forum in vain

Two and half questions

1) Is having a bank account in my partner's name and mine, with the 800,000 baht required, an obstacle when the bankbook is presented to the officer in charge with the processing of the application?

2) Is the letter of remittance, emitted by the bank, compulsory? In the affirmative, does the letter have to match the date and purpose of the application: e.g. I sold a condo last year (received the money from abroad) , I ask for a proof of remittance today and apply later this year or anytime in the furture?

Thanks for the replies

[alyx]

Please read Thai partner

[Crossy]

I understand that the account MUST be in your name only for both retirement and marriage extensions.

[Lite Beer]

The bank account has to be in your name only.

The bank letter has to be dated within a day or two of application. Some Immigration Offices even want it on the same day.

You also need your bankbook updated on the same day showing the same balance as the letter.

Copies of everything.

[Semper]

Actually, I have an fixed account for this purpose, alittle bit better interest than the normal savings account. But they gave me 2 bankbooks, one in my name and 1 in my wifes name. I asked the bank if this will work at Immigration and they said no problem. They will write the letter and using my name only.

[alyx]

The bank account has to be in your name only.

The bank letter has to be dated within a day or two of application. Some Immigration Offices even want it on the same day.

You also need your bankbook updated on the same day showing the same balance as the letter.

Copies of everything.

Thank you and thanks to eveyone ele

I understand that the letter has to be the very same day or a couple of days earlier at the most but that is the one stating that the money is n the bank account, right? what about the proof of transfer from abroad?

[Lite Beer]

Proof of transfer from abroad is not a requirement as far as I know. The money just has to be in your bank.

[lopburi3]

The letter is for account balance only.

Account must be applicant name only.

[alyx]

Actually, I have an fixed account for this purpose, alittle bit better interest than the normal savings account. But they gave me 2 bankbooks, one in my name and 1 in my wifes name. I asked the bank if this will work at Immigration and they said no problem. They will write the letter and using my name only.

Thanks but Confused

You mean that you have 800K between the two accounts?

The bank may issue the letter but you will eventually show the bank book to the officer, won't you? there will be an obvious discrepancy, won't it?

[alyx]

The letter is for account balance only.

Account must be applicant name only.

Straight and concise answer thanks

The origin of the money is irrelevant then?Sorry to insist but that what shows up on their website

[Semper]

Actually, I have an fixed account for this purpose, alittle bit better interest than the normal savings account. But they gave me 2 bankbooks, one in my name and 1 in my wifes name. I asked the bank if this will work at Immigration and they said no problem. They will write the letter and using my name only.

Thanks but Confused

You mean that you have 800K between the two accounts?

The bank may issue the letter but you will eventually show the bank book to the officer, won't you? there will be an obvious discrepancy, won't it?

There is only 1 account, so no problem showing the book.

[lopburi3]

They are not making check of account origin anymore AFAIK. Only that it is in account for the required period of time and that still there at time of application in the applicants name. Years ago they did check passbook entries for source but many do not have that information anymore and a person that worked his life in Thailand would likely not have funds from outside to extend with in any case.

[alyx]

Thanks

I wonder though, why they need a letter from the bank as it states what is in the updated bank book anyway, no?

[lopburi3]

Because of too many forged bank documents I believe. The letter just makes it that much harder as they can call and confirm easily as the letter is directly addressed to immigration; but do not believe they can call for account access otherwise without official paperwork.

[Pib]

Actually, I have an fixed account for this purpose, alittle bit better interest than the normal savings account. But they gave me 2 bankbooks, one in my name and 1 in my wifes name. I asked the bank if this will work at Immigration and they said no problem. They will write the letter and using my name only.

Thanks but Confused

You mean that you have 800K between the two accounts?

The bank may issue the letter but you will eventually show the bank book to the officer, won't you? there will be an obvious discrepancy, won't it?

There is only 1 account, so no problem showing the book.

If you have a passbook/account in only your wife's name the money is all hers be it 800K, 400K, etc; and if you have a passbook/account in only your name the money is all yours be it 800K, 400K, etc. But instead you seem to be saying you have "only one account with only one amount," say 800K, but that "same" 800K amount is being reflected in two different passbooks under the same account but with a different name. It's my understanding that only one passbook per account is issued and it reflects all owners of the account be it one owner or a joint account with more names.

Tell me what bank you use as the wife and I want to go double our money now through some passbook administrative magic!!!!

Seriously, it sounds like you are saying you are basically getting credit twice for one deposit/one account. Can you clarify? Thanks.

[Semper]

Actually, I have an fixed account for this purpose, alittle bit better interest than the normal savings account. But they gave me 2 bankbooks, one in my name and 1 in my wifes name. I asked the bank if this will work at Immigration and they said no problem. They will write the letter and using my name only.

Thanks but Confused

You mean that you have 800K between the two accounts?

The bank may issue the letter but you will eventually show the bank book to the officer, won't you? there will be an obvious discrepancy, won't it?

There is only 1 account, so no problem showing the book.

If you have a passbook/account in only your wife's name the money is all hers be it 800K, 400K, etc; and if you have a passbook/account in only your name the money is all yours be it 800K, 400K, etc. But instead you seem to be saying you have "only one account with only one amount," say 800K, but that "same" 800K amount is being reflected in two different passbooks under the same account but with a different name. It's my understanding that only one passbook per account is issued and it reflects all owners of the account be it one owner or a joint account with more names.

Tell me what bank you use as the wife and I want to go double our money now through some passbook administrative magic!!!!

Seriously, it sounds like you are saying you are basically getting credit twice for one deposit/one account. Can you clarify? Thanks.

I have one account but with 2 bank books. One in my name (only my name in the bank book), and my wife have one (same account) in her name. So when I get the letter from the bank (Bangkok Bank) it will only show my name, same as in my bank book.

It's the same as having a joint account but with 2 bank books. There is a dokument to be signed that says that my wife can use the account without myself present.

[alyx]

Hey

Quite strange and very difficult for me to understand as one can withdraw the total amount of money recorded in the bankbook linked to the account and there are two of them....

I have been with BkkBk for fifteen years plus and never been told that kind of thing

I am missing something here

[Semper]

Hey

Quite strange and very difficult for me to understand as one can withdraw the total amount of money recorded in the bankbook linked to the account and there are two of them....

I have been with BkkBk for fifteen years plus and never been told that kind of thing

I am missing something here

You have to ask them. And what is so hard to understand? 1 account and 2 bank books. It would be the same as 1 joint account and 1 bank book.

[alyx]

I understand what you are saying but how can two bankbooks show the same amount?

Nevertheless I will ask on Monday, if that is the case I do not have to do anything but splitting the account ( although the amount is in with another bank...but that is another story)

[soi41]

alyx.

Are we preparing for a life after TPC ?

[alyx]

Oh my goodness, you've blown my cover away

I thought I had covered my tracks,

How, on earth, were you able to unveil my unfailing plans and now I am in deep trouble Am I not?

No, soi 41...I am enquiring for a friend of mine but if I had said so, everyone would have called me a liar

Ooops......now YOU don't believe me

Jokes set aside, of course I am looking into the matter, and, sincerely, it would be silly of me not to do so (if you read my posts in the adequate thread you will notice that I have already mentionned it)

[alyx]

And, between us, I was not trying to hide from anyone nor anything

I am straight and always have been

Signed: The Knight (when you should have called me the messenger)

That being said,I apologise to the readers for these small parenthesis with no connections to my questions

Back to the subject although my query has been clearly answered already

[Pib]

Hey

Quite strange and very difficult for me to understand as one can withdraw the total amount of money recorded in the bankbook linked to the account and there are two of them....

I have been with BkkBk for fifteen years plus and never been told that kind of thing

I am missing something here

You have to ask them. And what is so hard to understand? 1 account and 2 bank books. It would be the same as 1 joint account and 1 bank book.

I can understand 1 account with 2 passbooks (just haven't heard of it before) if both passbooks showed the same account number and same names. Just never heard of or seen such a setup as 1 account with 2 passbooks but each passbook has a different name/owner on it.

Gosh that could make it so easy for some people to easily meet the 800K retirement or 400K marriage visa/extension of stay requirement. Just have the Thai spouse or just any person who wants to put money into the account while still having full access/ownership of the money while the other person who needs a retirement visa/extension of stay just needs to show his passbook to that same account with only his name on the passbook.

Something still doesn't sound right here. You sure there isn't a different account number on your book and the wife's book? Anyone else out there got such a setup...what bank (I won't tell immigration)?

[alyx]

I guess you meant: are you sure that there is the SAME account number on both bankbooks?

[terryq]

In Post #16 Semper says its Bangkok Bank.

Also I've never heard of that way before (not saying its not true), my Fixed account which I use for extension purposes used to be joint with wife but had it changed to account in my my name only but wife has full rights for deposit and withdrawal, her signature sample is included at the back of the passbook.

Our other accounts are still joint. This is also at Bangkok Bank.

[Pib]

I guess you meant: are you sure that there is the SAME account number on both bankbooks?

Yea, I just corrected it but in a slightly different way....thanks for catching that important typo.

[Pib]

In Post #16 Semper says its Bangkok Bank.

Also I've never heard of that way before (not saying its not true), my Fixed account which I use for extension purposes used to be joint with wife but had it changed to account in my my name only but wife has full rights for deposit and withdrawal, her signature sample is included at the back of the passbook.

Our other accounts are still joint. This is also at Bangkok Bank.

Wow, never heard of that either...not to imply it's not true. Since the spouse still has full deposit and withdrawal rights it seems she would be a joint owner of the account in all aspects except in name only. Once again, this would make it really easy for someone needing to show 800K or 400K for a extension of stay to just have anyone else (i.e., a spouse, other family member, loan shark, etc) deposit the required amount (with the ability to withdraw it) it order for a person to meet the financial requirements of an extension of stay.

With the loan shark reference above I'm not implying anything about your setup; it just it seems on the surface right now this would could make it easier for some people to come up with the extension financial requirements while still giving a warm fuzzy to those who are really providing the money. But hey, if it's a legal way in Thailand to setup accounts, then so be it. I learn something new everyday about our Land of Smiles.

[Semper]

Hey

Quite strange and very difficult for me to understand as one can withdraw the total amount of money recorded in the bankbook linked to the account and there are two of them....

I have been with BkkBk for fifteen years plus and never been told that kind of thing

I am missing something here

You have to ask them. And what is so hard to understand? 1 account and 2 bank books. It would be the same as 1 joint account and 1 bank book.

I can understand 1 account with 2 passbooks (just haven't heard of it before) if both passbooks showed the same account number and same names. Just never heard of or seen such a setup as 1 account with 2 passbooks but each passbook has a different name/owner on it.

Gosh that could make it so easy for some people to easily meet the 800K retirement or 400K marriage visa/extension of stay requirement. Just have the Thai spouse or just any person who wants to put money into the account while still having full access/ownership of the money while the other person who needs a retirement visa/extension of stay just needs to show his passbook to that same account with only his name on the passbook.

Something still doesn't sound right here. You sure there isn't a different account number on your book and the wife's book? Anyone else out there got such a setup...what bank (I won't tell immigration)?

Yes, it's the same account number. Do you think my wife has any money to deposit in an account?

[terryq]

In Post #16 Semper says its Bangkok Bank.

Also I've never heard of that way before (not saying its not true), my Fixed account which I use for extension purposes used to be joint with wife but had it changed to account in my my name only but wife has full rights for deposit and withdrawal, her signature sample is included at the back of the passbook.

Our other accounts are still joint. This is also at Bangkok Bank.

Wow, never heard of that either...not to imply it's not true. Since the spouse still has full deposit and withdrawal rights it seems she would be a joint owner of the account in all aspects except in name only. Once again, this would make it really easy for someone needing to show 800K or 400K for a extension of stay to just have anyone else (i.e., a spouse, other family member, loan shark, etc) deposit the required amount (with the ability to withdraw it) it order for a person to meet the financial requirements of an extension of stay.

With the loan shark reference above I'm not implying anything about your setup; it just it seems on the surface right now this would could make it easier for some people to come up with the extension financial requirements while still giving a warm fuzzy to those who are really providing the money. But hey, if it's a legal way in Thailand to setup accounts, then so be it. I learn something new everyday about our Land of Smiles.

I don't really understand, only my wife or myself can deposit or withdraw money from the account, not family members or loan sharks etc. Also unlike Semper's case there is only one bank book and all transactions are recorded in it. This method was suggested by Bangkok bank when Immigration were unhappy with the joint account which had satisfied them for years previously.

It seems perfectly reasonable for an account holder to instruct a bank, not just in Thailand, to accept the signature of another person for withdrawals etc. No difference from giving her my ATM card for withdrawals or deposit.

With an account with one name you could still get money from a loan shark deposit it for two or three months then withdraw it and repay the loan shark. That I think would be perfectly legal , bloody expensive but legal, Still don't see where the loan sharp reference came from.

[lopburi3]

Bangkok Bank does offer a joint account that requires all parties signatures to withdraw funds so might have something to do with that? Do you have to present both passbooks for withdrawal?