Need an account in my partner's name but only I can access

[uksomchai]

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.

But as the posts have blatantly pointed out to you banking advice isn't what you need. regardless of you not wishing people to point out to you the blindingly obvious it is a new GF you need not a new bank account.

These are not as you call trolls but telling you what you do not wish to hear or admit

Sorry to burst your bubble here

[fletchsmile]

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.

- Close and a good effort

Unlikely the bank would lend to him as a foreigner individual even if guaranteed.

Loan to her would also be difficult if she has no income. Even if collateralised. Banks prefer to lend against ability to repay than collateral in Thailand due to the lengthy admin and legal process to enforce bad debts and take possession of the capital. As far as I see she has little or no ability to repay/income otherwise she'd be using that in the first place

Even if they could swing this and get a loan to her, OP takes the cash so both loan and deposit in her name with deposit as collateral. If short of cash she would just go to a loan shark or borrow from someone else. Prepay the loan (possibly incurring a penalty to do so) access the cash and now be in debt to someone else. That could bring bigger issues also.

- Joint account with both signatories required is a another good bet if the visa people accept a joint account. Sounds like they don't.

- Anything in her name whether fixed deposit/ special access she can just close and accept the account penalty. Withold the book and she claims its lost. Card only similar story claim lost or close the account

In short, anything you come up with there will be a way round it if she is the genuine account owner.

OP

Take a step back and look exactly what the visa requirements are and alternatives. Does it have to be cash lump so? Would an income stream work? Look what is acceptable to the purpose required for.

[gk10002000]

Well, in the USA there are such things. An example might be where there is an elderly or disabled person that you have power of attorney over. The account could be in that person's name, but only you would have access to it. Kind of a pathological situation, but I think you will get the general idea. No idea if that would work or be understood in a Thai bank.

[NeverSure]

- Close and a good effort

Unlikely the bank would lend to him as a foreigner individual even if guaranteed.

Loan to her would also be difficult if she has no income. Even if collateralised. Banks prefer to lend against ability to repay than collateral in Thailand due to the lengthy admin and legal process to enforce bad debts and take possession of the capital. As far as I see she has little or no ability to repay/income otherwise she'd be using that in the first place.

That's not how it works. It's too easy to collect as the bank has the assignment of the actual deposit account and just executes its right to the money it is holding. That's why these loans are easy to get. The bank simply collects the spread on the interest in the meantime.

Well, in the USA there are such things. An example might be where there is an elderly or disabled person that you have power of attorney over. The account could be in that person's name, but only you would have access to it. Kind of a pathological situation, but I think you will get the general idea. No idea if that would work or be understood in a Thai bank.

You're talking about a trust account which wouldn't be in the elderly person's name but in the name of a trust and trustee. Power of attorney is good only for the life of the person who granted it and can be revoked during that lifetime. POA is strictly voluntary as opposed to a guardianship appointed by a court for a minor or incompetent person. There are accounts titled "XXX guardian for XXX and incompetent person (or minor) but those are in the name of the guardian.

The only way this guy can have an account in her name that she can't touch is to simultaneously borrow the balance as the deposit is made. Then there is nothing net to withdraw.

Someone mentioned a loan shark but no loan shark will lend against that which is locked up by a bank. If she's determined to get cash from a loan shark she can do that regardless of anything else. Regardless, if he walks out with the money as he also deposits it he's not at risk.

I agree with others that I wouldn't mess with her but...

Edited August 19, 2015 by NeverSure

[jacko45k]

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.

Now you know the OP asked you not to do this and referred to you as a troll!

Having a partner who cannot be trusted is his own cross to bear.

I also do not know which country requires the money to be in her account for visa purposes, year after year.

I obtained a UK Visa for my Thai lady, (not married) without doing this. I had to demonstrate that I could support her while in the UK.

And since she pays any borrowings back (eventually) I do not see it as a great problem.

Tell her she is required to make up the account in a timely manner, otherwise you take your next holiday abroad without her, or take her to an Asean country.

[lj cm]

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

To get a new pass book, you need to report it lost to the police and get a report, before the bank will give you a new book.

Is the partner willing to go that far?

[MyFriend You]

1. This is waaaay too convoluted.................

2. Stop putting money in the account

3. Why is it you can't have your own account - why does she need an account with money in it, is she not Thai??

4. Barring total seperate accounts, I think you ned a savings account with the money locked for 6 months, a year, whatever suits you...........it counts as a bank account for Visa purposes and can't be accessed by anyone until maturity - set up by you & the bank.

Gee Whiz - relationships have become so complicated these days.

[MyFriend You]

Sorry, forgot to mention after re-reading your post - what you are attempting is not even legal, his is a sue way to hid money and not identify the real beneficiary............no bank shoud touch this with a ten foot pole.

[blackcab]

Well, in the USA there are such things. An example might be where there is an elderly or disabled person that you have power of attorney over. The account could be in that person's name, but only you would have access to it. Kind of a pathological situation, but I think you will get the general idea. No idea if that would work or be understood in a Thai bank.

A person gives a power of attorney to enable a second person to execute some or all of their affairs.

Doing this does not stop the person who gave permission executing their own affairs or even cancelling the power of attorney.

Some people give accountants and wealth managers power of attorney over some of their bank accounts. Doing so does not stop the owner going to a bank and executing transactions themselves.

[GuestHouse]

I'm not sure where the OP is obtaining visas for, but I've helped an number of Thai people obtain visas for the UK, US and EU.

Not by suggesting their partner puts money into an account in the Thai person's name, rather by the person inviting the Thai citizen to visit with them providing evidence that they are supporting the Thai person for all costs during their visit.

The question 'how are you financing this visit' does not imply the money to finance the visit belongs to you.

[Edit] If the woman in question has a visa history indicating she uses her visas correctly and complies with the rules of the visas, specifically never overstays a visa, then acceptance of the visa application is far more likely.

Be honest, tell the truth and avoid getting yourself into a mess with money and other people's debts.

Edited August 22, 2015 by GuestHouse

[Boycie]

This is how i read the OP with the help of a 'friend'......

Every year my friend needs 800k baht for their Thai visa based on retirement and i put a substantial sum in my partner's (not married) bank account for this purpose.

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 3 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.

Sorry Card if i've got it all wrong, but DelBoy done the proof reading.

[farangmick]

New partner?