Is it possible to set up two accounts, one US and one non-US, and then just transfer funds between them? It would be more work than setting up a single account but would eliminate a single point of failure risk. Bear On Fri, May 6, 2016 at 8:29 AM, Jakob Bohm <jb-openssl at wisemo.com> wrote: > On 06/05/2016 15:26, Steve Marquess wrote: > >> On 05/06/2016 09:14 AM, Jakob Bohm wrote: >> >>> On 06/05/2016 13:45, Salz, Rich wrote: >>> >>>> Consider having the non-U.S. person do the account setup too. >>>>> >>>>> Banks are as scared of US jurisdiction as crypto engineers. >>>>> >>>> Yeah, we've done that. Even to the point where one of the team was >>>> going to get on a plane to fly to the Isle of Mann. >>>> >>>> It's amazingly painful and difficult and so far not productive. >>>> >>>> If folks want to give OpenSSL money, mail a check or cash. >>>> >>> I was thinking of the more simple solution of setting up >>> the account in the same non-US bank where the team member >>> does his other business. Lots of this tends to get easier >>> when the person is an existing customer and the bank is >>> nearby. >>> >>> Each non-US team member presumably has at least one existing >>> bank relationship and presumably knowledge and/or easy access >>> to information on how to set up an independent legal entity >>> in his/her own country. >>> >> Personal bank accounts, yes. But, we don't want to entangle OpenSSL >> funds with any team members personal finances. Those funds need to be >> held by an independent OpenSSL legal entity (of which there are already >> several). Also keep in mind that most of my colleagues are hardcore >> geeks best suited to wrangling OpenSSL code. I try to handle as many >> paperwork hassles as possible to free them for that more important >> activity. >> > I was trying to say that retail banks can be very helpful > when an existing personal account holder wants to set up a > business account with themselves as a signatory (but not > owner). Especially if the legal entity (new or existing) > is also within their jurisdiction. > > Things like checking if the person is who his says he is, > checking if the initial deposit is from a suspect source > etc. become much simpler when the bank recognizes the > person as someone they have worked with for years and the > initial money source as an account that was the > correspondent with past checks or other traceable > transfers to/from that known person (all according to the > banks own records). > > Throw in the prospect of earning transaction fees on an > associated Merchant account, and motivation can grow > further. > > Enjoy > > Jakob > -- > Jakob Bohm, CIO, Partner, WiseMo A/S. https://www.wisemo.com > Transformervej 29, 2860 S?borg, Denmark. Direct +45 31 13 16 10 > This public discussion message is non-binding and may contain errors. > WiseMo - Remote Service Management for PCs, Phones and Embedded > > -- > openssl-users mailing list > To unsubscribe: https://mta.openssl.org/mailman/listinfo/openssl-users > -------------- next part -------------- An HTML attachment was scrubbed... URL: <http://mta.openssl.org/pipermail/openssl-users/attachments/20160506/771bd2c6/attachment.html>
