Card Posted August 18, 2015 Share Posted August 18, 2015 Every year my partner and I travel on holiday abroad and I put a substantial sum in my partner's (not married) bank account for overseas visa purposes as embassies need a bank statement for the last 6 months. I am getting fed up of the said partner dipping into it after being granted a visa to pay off credit card debts. I always get it back eventually but I am fed up of all the hassle. I need an account in my partner's name that only I have access to in order to show transactions over the 6 month period. This access should be online and via a debit card. The only problem with that is how do I make sure my partner doesn't get another card from the bank? Any advice welcome, except the usual 'can't trust the partner' trolls. Link to comment Share on other sites More sharing options...
thaipod Posted August 18, 2015 Share Posted August 18, 2015 Try arranging with the bank where you both have to sign to withdraw any funds. Link to comment Share on other sites More sharing options...
Card Posted August 18, 2015 Author Share Posted August 18, 2015 Try arranging with the bank where you both have to sign to withdraw any funds. Doesn't that involve opening a joint account? I don't want a joint account - but an account only in my partner's name. Link to comment Share on other sites More sharing options...
NeverSure Posted August 18, 2015 Share Posted August 18, 2015 I don't know. This is a head scratcher with the obvious knee-jerk "cannot". I spent a lot of years in banking, too. The only thing I can think of that might work is to open the account and simultaneously borrow the balance using the account as collateral. That would freeze the money and you'd have to pay interest. The money could be borrowed by her if you were sitting there and put it into your pocket. I don't know Thai banking enough to be sure but you should be able to borrow it yourself if she assigned the account to you for that purpose. All of this should be arranged in advance so that you and her just go in there, sign the papers, open the account and leave with the money. I simply don't know if that would affect what you want to do. You should still be able to get a letter and have statements that the account was there. Try it. Good luck. Link to comment Share on other sites More sharing options...
Card Posted August 18, 2015 Author Share Posted August 18, 2015 (edited) I don't know. This is a head scratcher with the obvious knee-jerk "cannot". I spent a lot of years in banking, too. The only thing I can think of that might work is to open the account and simultaneously borrow the balance using the account as collateral. That would freeze the money and you'd have to pay interest. The money could be borrowed by her if you were sitting there and put it into your pocket. I don't know Thai banking enough to be sure but you should be able to borrow it yourself if she assigned the account to you for that purpose. All of this should be arranged in advance so that you and her just go in there, sign the papers, open the account and leave with the money. I simply don't know if that would affect what you want to do. You should still be able to get a letter and have statements that the account was there. Try it. Good luck. Good try but way too complicated. What if my partner opens 2 unlinked accounts in the same bank - one with a debit card and one with a passbook or only online access. Then I have all the passwords and pins myself and change them so only I know them. Then I keep all the cash in the online access account and if I ever want to draw cash out I can transfer cash online to the debit card account and use an ATM. What are the loopholes in this? Edited August 18, 2015 by Card Link to comment Share on other sites More sharing options...
delgarcon Posted August 18, 2015 Share Posted August 18, 2015 What if your partner goes into the bank with her passport and claims to have forgotten her password? Link to comment Share on other sites More sharing options...
delgarcon Posted August 18, 2015 Share Posted August 18, 2015 Are you sure that she needs proof of funds if you're declaring that you're footing the bill? If she has no income or only enough to live on, why would she have a bank account,. This shouldn't stop her from traveling with you. Call the Embassy, they're usually pretty helpful and presumably she has already been granted visas! Link to comment Share on other sites More sharing options...
NickJ Posted August 18, 2015 Share Posted August 18, 2015 She can call the bank and freeze the card in a min so yours dont work. And she can go to any branch and get a new card in a min. At least with k bank you can get the 800 b ATM card and have an sms notify you of any transactions and there locations and amounts. Link to comment Share on other sites More sharing options...
blackcab Posted August 18, 2015 Share Posted August 18, 2015 What you want simply isn't possible. When the money is in your partner's account, as far as the bank is concerned the money is hers. The bank will not deny her access to it unless it is put in a term deposit account with zero access (but these types of account are often refused by immigration add the money isn't accessible, which is the whole point of the deposit). The problem isn't the bank, it's your partner. Link to comment Share on other sites More sharing options...
Card Posted August 18, 2015 Author Share Posted August 18, 2015 What if your partner goes into the bank with her passport and claims to have forgotten her password? Do you mean password for the ATM card? Having an account with a card won't help until there is cash in that particular account and that won't happen until I transfer funds online into it from the online only or bankbook only account. So if I ever want to get cash out, I just transfer cash into the carded account online then go to the nearest ATM to get cash out. Link to comment Share on other sites More sharing options...
Card Posted August 18, 2015 Author Share Posted August 18, 2015 Are you sure that she needs proof of funds if you're declaring that you're footing the bill? If she has no income or only enough to live on, why would she have a bank account,. This shouldn't stop her from traveling with you. Call the Embassy, they're usually pretty helpful and presumably she has already been granted visas! Yes, they need proof of funds as well - even with a sponsor because there is always the chance of a fallout during the trip or an accident or illness, when the sponsored person could be left without funds. Link to comment Share on other sites More sharing options...
SoiBiker Posted August 18, 2015 Share Posted August 18, 2015 So you want to legally give them the money, but not let them have it? Can't see that working somehow. Link to comment Share on other sites More sharing options...
Sviss Geez Posted August 18, 2015 Share Posted August 18, 2015 (edited) In the same way that many companies accounts require the signatures of more than one director/partner, open the account in her name with 2 signatories, you and her, required to sign for all transactions, that would cover ATM card issuing also. Edited August 18, 2015 by Sviss Geez Link to comment Share on other sites More sharing options...
Langsuan Man Posted August 18, 2015 Share Posted August 18, 2015 Sounds to me like you need a prayer meeting with your partner If you have an agreement to provide the "funds" for visa issuing purposes, then they must abide by all the terms of the agreement, which includes not spending the money on other purposes, if they are not willing to do that then either marry her/him or make them provide their own funding for visa purposes Why do you think that changing the method of providing funds is going to solve the problem which is that your partner cannot be trusted to follow a simple agreement Link to comment Share on other sites More sharing options...
Card Posted August 18, 2015 Author Share Posted August 18, 2015 (edited) Sounds to me like you need a prayer meeting with your partner If you have an agreement to provide the "funds" for visa issuing purposes, then they must abide by all the terms of the agreement, which includes not spending the money on other purposes, if they are not willing to do that then either marry her/him or make them provide their own funding for visa purposes Why do you think that changing the method of providing funds is going to solve the problem which is that your partner cannot be trusted to follow a simple agreement If you read my message again, I implied that trolls need not respond, but you guys never give up do you? I am not looking for relationship advice and you can't provide it. I am looking for banking advice. Edited August 18, 2015 by Card Link to comment Share on other sites More sharing options...
Card Posted August 18, 2015 Author Share Posted August 18, 2015 In the same way that many companies accounts require the signatures of more than one director/partner, open the account in her name with 2 signatories, you and her, required to sign for all transactions, that would cover ATM card issuing also. That is the same as a joint account isn't it? Do you know for sure that it is possible to open a single account like you write or just guessing? Link to comment Share on other sites More sharing options...
Aquaman2016 Posted August 18, 2015 Share Posted August 18, 2015 Can you not do this by opening a trust account or alternatively using a power of attorney? Link to comment Share on other sites More sharing options...
NeverSure Posted August 19, 2015 Share Posted August 19, 2015 I don't know. This is a head scratcher with the obvious knee-jerk "cannot". I spent a lot of years in banking, too. The only thing I can think of that might work is to open the account and simultaneously borrow the balance using the account as collateral. That would freeze the money and you'd have to pay interest. The money could be borrowed by her if you were sitting there and put it into your pocket. I don't know Thai banking enough to be sure but you should be able to borrow it yourself if she assigned the account to you for that purpose. All of this should be arranged in advance so that you and her just go in there, sign the papers, open the account and leave with the money. I simply don't know if that would affect what you want to do. You should still be able to get a letter and have statements that the account was there. Try it. Good luck. Sounds to me like you need a prayer meeting with your partner If you have an agreement to provide the "funds" for visa issuing purposes, then they must abide by all the terms of the agreement, which includes not spending the money on other purposes, if they are not willing to do that then either marry her/him or make them provide their own funding for visa purposes Why do you think that changing the method of providing funds is going to solve the problem which is that your partner cannot be trusted to follow a simple agreement If you read my message again, I implied that trolls need not respond, but you guys never give up do you? I am not looking for relationship advice and you can't provide it. I am looking for banking advice. I already told you how to do it but "It's too complicated," you poor widdle ting. Legal things get complicated and you're looking for an answer. Now you are calling people trolls who are trying to help you, even if they are mistaken. Where did you get so entitled? I shouldn't have wasted my time or my banking career on you but the answer to your question is still in my original post above. Cheers. Link to comment Share on other sites More sharing options...
JMWPACIFIC Posted August 19, 2015 Share Posted August 19, 2015 Can't be done. Link to comment Share on other sites More sharing options...
PattayaPhom Posted August 19, 2015 Share Posted August 19, 2015 You said she dips in only after visa is granted, could you not withdraw all the funds on the same or following day.As stated, if the account is in her name she is entitled to access the funds so unlikely their is an account available for over 18s that qualifies for your needs Link to comment Share on other sites More sharing options...
rhodie Posted August 19, 2015 Share Posted August 19, 2015 If the account is in her name, there is no way to stop her gaining access. You can set up an online only account, but being in her name means that she can go into the bank with ID and change things. Link to comment Share on other sites More sharing options...
NeverSure Posted August 19, 2015 Share Posted August 19, 2015 Guys, the account could immediately be used as collateral for a loan at the time it was opened, effectively freezing the account. The funds wouldn't be released to anyone until the loan was paid. We used to do that regularly for people who had long term CD's and who didn't want to lose accrued interest due to early withdrawal. We'd simply lend 100% of the amount of the deposit for as long as the customer wanted but the account stayed open with the same balance. This is the only way I can think of to have a valid, open account with the full balance who no one can touch until the loan is repaid. Of course the OP would be right there getting the loan proceeds and he would pay the loan off when the account was no longer needed. The interest isn't that bad because (he/she) draws interest on the money deposited and pays interest on the loan. The spread is typically 2% and the bank has no chance of a loan loss. The OP has no chance of losing the money because he gets it handed back to him at the same time the account is opened. Cheers. Link to comment Share on other sites More sharing options...
LukKrueng Posted August 19, 2015 Share Posted August 19, 2015 Savings accounts always came with pass books. If you keep the book she can always claim she lost it and get a new one, so basically you can't really stop her from withdrawing getting cash out. The only way is of the bank let's you sign the book (using your signature as if it's hers)but unless you have a friend working at the back I can't see that happens. This easy she'll have to try forging your signature of she wants cash, but as it's her account and so"her" signature it's not really a forgery.. all on all, as you say she always pays back so I guess she is trust worthy Link to comment Share on other sites More sharing options...
Tatsujin Posted August 19, 2015 Share Posted August 19, 2015 You're making this all far too complicated ... simply change the partner to one you can trust not to go against your wishes ... problem solved. Link to comment Share on other sites More sharing options...
sead Posted August 19, 2015 Share Posted August 19, 2015 And tell me again why you 2 are together? Seems you want her but dont trust her. Isnt it better to tell her that now this money is in your account. If you spend it you cant come to visit me? If she spends even a Bht i wouldn add 1. Then when she loose the planeticket you say goodbyes. Link to comment Share on other sites More sharing options...
chilli42 Posted August 19, 2015 Share Posted August 19, 2015 Hmmm ... sounds easier just to get a new partner. Link to comment Share on other sites More sharing options...
kovaltech Posted August 19, 2015 Share Posted August 19, 2015 What you want simply isn't possible. When the money is in your partner's account, as far as the bank is concerned the money is hers. The bank will not deny her access to it unless it is put in a term deposit account with zero access (but these types of account are often refused by immigration add the money isn't accessible, which is the whole point of the deposit). The problem isn't the bank, it's your partner. nope its not the partner... its op himself... ;-) get an account, with her, in her name, keep the atm cards, code an pasbook yourself... Link to comment Share on other sites More sharing options...
al007 Posted August 19, 2015 Share Posted August 19, 2015 Sounds to me like you need a prayer meeting with your partner If you have an agreement to provide the "funds" for visa issuing purposes, then they must abide by all the terms of the agreement, which includes not spending the money on other purposes, if they are not willing to do that then either marry her/him or make them provide their own funding for visa purposes Why do you think that changing the method of providing funds is going to solve the problem which is that your partner cannot be trusted to follow a simple agreement If you read my message again, I implied that trolls need not respond, but you guys never give up do you? I am not looking for relationship advice and you can't provide it. I am looking for banking advice. Seems to me you are trying to set up an illegal bank account, one that does not show the beneficial owner I feel very sorry for you that you choose to live with a person you can not trust Maybe you need to look at yourself and question why you choose to stay in relationship Sorry if my post maybe harsh but I believe correct Link to comment Share on other sites More sharing options...
Sviss Geez Posted August 19, 2015 Share Posted August 19, 2015 In the same way that many companies accounts require the signatures of more than one director/partner, open the account in her name with 2 signatories, you and her, required to sign for all transactions, that would cover ATM card issuing also. That is the same as a joint account isn't it? Do you know for sure that it is possible to open a single account like you write or just guessing? I know for sure otherwise I wouldn't have posted it. A sole account in her name only with two people required to sign would be a sole account but no transactions could be made without 2 signatures. An account in your name and hers would be a joint account irrespective of who had to sign. Link to comment Share on other sites More sharing options...
sammygood Posted August 19, 2015 Share Posted August 19, 2015 i think you need a dog, better to control Link to comment Share on other sites More sharing options...
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