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Thai Bank Accounts for US Social Security Deposits

Transcript of the above video:

As the title of this video suggests, we are discussing bank accounts for US Social Security Deposits.

This is a specific topic especially for retirees. This is very pertinent to them and I get questions on this so I decided to make this video. 

Basically, long story short yes it is possible to set up a Thai Bank account that allows for direct deposit of one's Social Security benefits. That stated it should be kept in mind that one has to physically go to the bank where one set up that account in order to withdraw the money. That is really important especially in the times we are living in because travel considerations may not be as easy as they once were. So the travel conditions may not be what they once were. 

The point I am trying to make is I have seen folks who have been stuck out of Thailand who have their money deposited into an account and they want to know, “Well, can you go act on my behalf to get it out?"  No and that is an anti-fraud requirement of those accounts because they don't want people, especially older folks who may have passed away, they don't want people to fraudulently withdraw that money. They want that person to actually show up in person, present ID to be able to get that money out. 

So Thai bank accounts for Social Security purposes are a specific narrow topic and it is something that can have a profound impact on those to whom it pertains. I would urge folks that it is probably really a good idea to contact a legal professional to gain some insight and guidance into the dynamics of how these accounts work because if you don't, you can find yourself in a position where you cannot access your Social Security benefits.