ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION
July 27, 2018 | Bank Wires & the Hunt for Money
Martin Armstrong
QUESTION: Hi Martin,
in reference to the mailing of 500k in bank drafts to the US by a Canadian in Canada – I am wondering what your thoughts are in wiring > 50,000 (CAD) to a US brokerage account, as a Canadian citizen? Do you think there may be potential confiscation or holding of wired funds on either end ( to or from the brokerage account back to Canada) being a Canadian citizen?
A
ANSWER: When wiring money internationally, if it is going to an institution or business, then there is no problem. If you try to send money to an individual, that is when all rules are off. What I would do is ALWAYS test the method first. Sen like $1,000 and make sure it goes through OK.
They do not seem to mess with wires to businesses yet. Everything seems to turn on individuals.
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Martin Armstrong July 27th, 2018
Posted In: Armstrong Economics
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