Money in bank for retirement extension ?

[Countryman]

Yesterday I extended my Retirement permission to stay for another year,

Next week i have to go into hospital and i am not sure what the results will

be, I would like to transfer the 1.5 M which i hold in the account for purpose

of the extension.( I don't have a will,) to my wife and daughter,as if something

happens to me,I don't want them not been able to access the money and thats

why i would like to do it now while i am able.

Then if everything turns out OK, i could transfer the funds back into my account

2/3 months before my next extension, would this be possible?,legal?

We have been together for 25 years ,and i trust her and our daughter 200%,

Thanks,relax Countryman

[Lite Beer]

Yes.

just make sure it is back again at least 3 months before you apply next year.

Or you could always just give them your PIN number

[NancyL]

If you are concerned that you could pass away (and you don't have a Final Will), the safest way to insure you wife and daughter will have access to the money after your death is to move the money to an account that is only in their name. It is not safe to assume they will continue to be able to use the ATM card for an account that is in your name after your death. The account may be locked if/when the bank learns of your death until the estate is probated.

The best thing is to get a Final Will put together before you go into the hospital, rather than hoping your family can play games with ATM cards and PIN numbers after your death. I've seen situations where heirs have had to hire lawyers and spend big sums to access funds have been locked up for months (even years) because someone didn't love his heirs enough to have a Final Will.

[OJAS]

There are also the logistical challenges of transferring 1,500,000 THB between accounts, which the OP may need to bear in mind. Transfers from my Bangkok Bank account, for example, are subject to a daily maximum limit of 50,000 THB in the normal run of things.

[ubonjoe]

There are also the logistical challenges of transferring 1,500,000 THB between accounts, which the OP may need to bear in mind. Transfers from my Bangkok Bank account, for example, are subject to a daily maximum limit of 50,000 THB in the normal run of things.

Perhaps doing it online or at an ATM machine there is.

If you go in and fill a out withdrawal and deposit slips there is no limit that I have heard of or read about.

[notmyself]

Or you could always just give them your PIN number

It would be illegal for them to use it I think.

This subject has occupied my mind for some time and even more so as I approach 50 when I can get a retirement visa. Single with no children and never have more that 5k (GBP) in my name at any one time. At some stage I will need to transfer 800,000 into a Thai bank and I do not look forward to it.

[theoldgit]

Just to add, I hope everything goes well next week, my thoughts are with you.

Good luck.

[Suradit69]

There are also the logistical challenges of transferring 1,500,000 THB between accounts, which the OP may need to bear in mind. Transfers from my Bangkok Bank account, for example, are subject to a daily maximum limit of 50,000 THB in the normal run of things.

Perhaps doing it online or at an ATM machine there is.

If you go in and fill a out withdrawal and deposit slips there is no limit that I have heard of or read about.

I've transferred amounts greater than Baht 50,000. As Ubonjoe says, you go into the bank and have a teller do it for you. Obviously many people and businesses need to move sums much larger than Baht 50,000 in the course of their normal personal or commercial business.