CO-CO
Rather wrinkly & occasionally cantankerous member
She could probably use your finger while it is still warm - then change the log in method...........................
NatWest International
- Thread starter Yorky
- Start date
She could probably use your finger while it is still warm - then change the log in method...........................
Yorky
Fullritis Member
I transferred a few bob today and again went through the process with my wife taking notes. Unfortunately, NatWest has changed their procedure slightly - probably to make it easier but it only confused my wife. It was not insurmountable but then I discovered that Wise had also amended their procedure a little. Again not a major problem but it did cause my wife some concern.
Ivor the Engine
Nowhere man
Maybe its best she wasn't involved
nomad97
Resident Geek
I disagree.
CO-CO
Rather wrinkly & occasionally cantankerous member
Coffee
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Wouldn't a simple will work for handling the estate affairs of a British national...
particularly to furnish a Thai spouse with funds held elsewhere outside of Thailand ?
I believe an unnamed person of an account knowingly pulling funds from that account of a deceased person is possibly considered an illegal act.
What are the thoughts of others on this ?
Prakhonchai Nick
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Withdrawing money from a deceased's sole account is illegal, whether or not there's a Will leaving the money to the person withdrawing. However it is very normal for Thai widows to access their late husbands -or partners bank acounts, - in Thailand or overseas- when they have a card and know the PIN number, or can transfer online. Some husbands on their deathbed instruct their wives to go and access the money as soon as they have died.
Sometimes the wives are over zealous and try and withdraw/transfer a large sum at once and with this being an unusual transaction, , the banks computer picks this up and will perhaps allow the initial withdrawal/transfer then block future ones (have come across this several times when helping widows.) However once all sorted out no action is taken by the banks regarding the illegal withdrawals.
A Will makes everything legal, but can take months before money is available, and because in many cases, probate is required, there are the legal costs from using a lawyer.
Have come across 2 cases where the ATM card had expired and no withdrawal was possible. Also one case where lawyer fees were more than the money in the account!
Ivor the Engine
Nowhere man
Not quite death but slightly related.
My mate was in hospital after 3 heart attacks. Give GF card & pin to pay his bill. Card was 3 years prior to expiry date and 6 months later, found the bank had cancelled the card, sent out replacement because GF got pin number wrong 3 times!!!!!!
He knew something was wrong with Bill payment because he got money elsewhere, it was a shock to find card was useless. Was NOT NW card.
My mate was in hospital after 3 heart attacks. Give GF card & pin to pay his bill. Card was 3 years prior to expiry date and 6 months later, found the bank had cancelled the card, sent out replacement because GF got pin number wrong 3 times!!!!!!
He knew something was wrong with Bill payment because he got money elsewhere, it was a shock to find card was useless. Was NOT NW card.
Yorky
Fullritis Member
Precisely.
Cut out the blood sucking wankers.
If I am compos mentis within striking distance before I cast off this mortal coil I shall effect all transfers myself thereby preventing the lawyers even getting a sniff.
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CO-CO
Rather wrinkly & occasionally cantankerous member
But it could have been.......ATM machines don't discriminate.
It is death related because that it what we have experienced with some Thai widows. Yorky is smart getting ducks in a row........bollocks to legality.
Yorky
Fullritis Member
Good point. I hardly ever use my own ATM card these days. In fact, if I do, I need to ask my wife the PIN number as she was the one that added the extra 2 digits when the bank increased it to 6.
[I know the digits that she added, I just cannot remember the order or whether she added them to the front or the rear of the previous four digit PIN]
[PS: for security reasons we both have the same PIN number for our ATM cards - or that's what she tells me]
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Yorky
Fullritis Member
I did notice (although forgot to mention) that NatWest International did not require verification of the transaction using the card reader. I'm guessing that this was because I was transferring money to my own Wise account for the third time.
I have now set up a Wise recipient account for my wife's name in Kasikorn. She may then transfer to my Wise account to forward to her Kasikorn bank account with NatWest being none the wiser.
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CO-CO
Rather wrinkly & occasionally cantankerous member
Why not go straight to Mrs Yorky's KBank account straight from the Wise account? (NWI to either your WISE account or hers, then to KBank)
In the circumstances that you are trying to plan for, it doesn't matter who the beneficiary is (on a fraudulent transaction). Mrs Yorky being set up as a beneficiary should be sufficient.
Yorky
Fullritis Member
That's what I have arranged to do. We'll give it a trial run tomorrow (or when the rate reaches 43 again).
"She may then transfer to my Wise account to forward to her Kasikorn bank"
nomad97
Resident Geek
My wife does know my pin number and I have talked to and shown her how to use my WISE account. She will need to do a few transactions to get the hang of it. She is already quite proficient at using my ATM card as I often ask her to get me some money. Later this year she will have her own WISE account. I intend to write to my 2 private pension providers in due course to advise them to send my widow's pensions to her WISE account. Going along very similar lines as @Yorky. It should save a small fortune in lawyer's fees and probate after I am gone.
Ivor the Engine
Nowhere man
One day, I must get round to setting up a wise account so that I can transfer between Nationwide BS and Krungsri Bank.
Prakhonchai Nick
You chose a custom title
Probate, when required is to enable a deceaseds assets to be released and distributed in accordance with a Will or intestacy rules. A pension, ceases upon death. If there is provision for a Widow's pension, this is NOT an asset of the deceased, does NOT form part of the estate and therefore does not require probate.
Your wife, with or without help, merely needs to claim widows pensions by proving her entitlement (wife or partner) and evidencing your death. Usually just original and translated relevant documents.
CO-CO
Rather wrinkly & occasionally cantankerous member
CO-CO
Rather wrinkly & occasionally cantankerous member
Yorky
Fullritis Member
Not at this time.