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BANGKOK 21 July 2019 03:10

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I am not sure if I am allowed to post this question and / or whether or not in the correct forum.

The questions relate to closing an account kept for a retirement visa.

 

Has any had the unfortunate task of having to withdraw funds by ATM from KBank following the death of a loved one ?

If so were restrictions placed or were there other difficulties ?

 

Secondly is it possible for a Thai person to send such funds to the UK using  Superrich or must it be a bank ?

If a bank does anyone have useful information about procedures ?

 

I have a very close friend for 20 years and have trusted her with my life on more than one occasion.

I wish things to go as smoothly s possible for those I leave behind and am trying to plan accordingly.

I already have a DNR in place for some years and a Will is already drawn up.

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For transfers to the UK. Suggest you have a look at Dee Money. Many topics on this and seems very efficient and economic.

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15 hours ago, ukrules said:

How about a joint account ?

Thank you for the suggestion, will ask the bank "out of curiosity".

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15 hours ago, Pib said:

No problem.  The still alive joint holder can withdraw funds.   

 

Now, I've heard stories that some banks freeze half of the account's balance pending probate, but I bet that was due to another other family member(s) filing court papers contesting a person's estate and wanting to freeze as many assets as possible pending probate.

Thanks for your comments, will ask the bank on Monday.

Have only recently moved my accounts from Bangkok despite having left there some years ago, got fed up with the extra charges.

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16 hours ago, Pib said:

As of a few days ago DeeMoney lost it's capability to send to the UK, US, and NJ.  Something about they must find a new money transfer partner for those countries.  Not familiar with Superrich funds transfer capability but Thai banks can sure transfer funds to other countries for certain purposes.  But you can't transfer funds from "another" person's account....like a dead person's account without court approval.

 

Pulling funds from a death person's account is illegal.  The court needs to give such authorization under the probate process.  Yes, yes I know the person may have given his debit card PIN number to a loved one but that does not make it legal.

 

It was a real hassle trying to send funds out to the UK when I first started here full time nearly 20 years ago.

Not sure if a single bank here would allow a Thai person to send a large sum to the UK, can but ask.

Perhaps if one of my children comes to Thailand when I die they could exchange Thai baht in to sterling and put it in their backpack - obviously a No No at UK immigration !

 

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Posted (edited)
24 minutes ago, Speedo1968 said:

Not sure if a single bank here would allow a Thai person to send a large sum to the UK, can but ask.

About 6 years ago my stepson(Thai) sent about 2M baht from Kbank to his own account at Bank of America.  He had to supply a reason on the transfer authorization form.  He said "expenses".  There was no problem with the transfer.

Edited by gamb00ler
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On 6/21/2019 at 11:07 AM, gamb00ler said:

About 6 years ago my stepson(Thai) sent about 2M baht from Kbank to his own account at Bank of America.  He had to supply a reason on the transfer authorization form.  He said "expenses".  There was no problem with the transfer.

Thank you for that information.

My situation would be in the event of my death that my long standing friend could pay expenses here and send some funds to one of my daughters account in the UK to cover flight costs etc.

My own UK accounts would of course be closed on notification of my death.
I will ask my local KBank out of curiosity.

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12 hours ago, treetops said:

UK immigration couldn't give a toss.  Customs would be interested but should be OK if it's declared and source provable (and legal).

The UKBA at UK Border Force consists of Immigration Officers and HMRC staff, both teams wear Border Force epaulattes.

You're right you must declare funds in excess of €10,000 when entering the UK from a non EU country, that includes notes, coins, bankers drafts and cheques, you might be required to prove the source of the funds, though passengers sometimes are asked for the source of smaller amounts.

 

https://www.gov.uk/bringing-cash-into-uk

 

The Border Force randomly uses sniffer dogs to check passengers carrying large amounts of cash, though usually leaving the UK, the dogs smell the ink.

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On 6/20/2019 at 1:37 PM, ukrules said:

How about a joint account ?

Not the solution if the account is being used to stash 800k for a retirement extension as mentioned by the OP, though.

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1 hour ago, OJAS said:

Not the solution if the account is being used to stash 800k for a retirement extension as mentioned by the OP, though.

But you should be able to have both a single and a joint account running at the same time.

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