Joint bank account with someone outside EU

Captain Kidd

Hello,

My wife and I live in Dublin Ireland and she would like to set up a joint bank account with her father who lives in Egypt. Both would need a bank card and have access to the account from ATMs etc. I rang KBC and they said that because her father is outside the EU then they can't issue him with a card.

Would anyone know of any bank that might allow this?

Much appreciated for any help with this

daheff

to be honest with you, i'd be surprised if any bank allowed somebody a joint account where one of the parties resides outside the state.

By giving the father a bank card to access funds from the account from an ATM in Egypt, they could be trying to get around currency controls and may be deemed as money laundering.

Why can your wife not just transfer funds to her fathers bank account in Egypt? seems a more straight forward (and above board) thing to do?

Captain Kidd

The issue or need for the joint account is because of inheritance laws in Egypt, basically something happens to the father then, if there is no son, everything goes to the fathers eldest brother, regardless of the father having a daughter. Lots of fathers as a result have joint accounts with daughters to avoid the problems that often arise with this. My wife lives here and she's just looking into having the joint bank account on this side for him, a more stable option really. But yeah its certainly not going to be straight forward.

Spook_ie

Would it not be the other way around then, an Egyptian account with a card for here?

Captain Kidd

That is certainly an option but the Egyptian pound is not very stable and you could also say banks too, so if it was at all possible and there was a choice of here or there, then here would be a lot better and safer.

daheff

father could transfer his assets to your wife already & she could send him money on a regular basis?

godtabh

A revoult account or similar?

Captain Kidd

Thanks Daheff, yeah there are options like that alright, firstly going to look into the most ideal situation which would give him relatively easy access, thanks.

Godtabh, will look into that, not sure how great that is in Egypt. Thanks