[openssl-users] good riddance to PayPal

[Steve Marquess]

On 05/06/2016 10:44 AM, Bear Giles wrote:
> 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.

Our U.S. bank has been great to work with, and we'll probably keep some
limited funding with them indefinitely. One drawback of that bank is
that they are unable to accept inbound Swift transactions.

It's the non-U.S. bank account that has been the challenge. It took me
awhile to figure out that FATCA was a fatal impediment to having any
involvement by U.S. citizens (e.g. me), but that's not essential. We've
switched our strategy to having no "U.S. person" involvement in our
non-U.S. corporate entities, but still haven't been able to find a bank
that will have us as a customer.

Given our difficulties to date, and the experience with apparently
successfully opening an account only to have that bank abruptly close it
a week later, I definitely would like to have more than one non-U.S.
account. At present the OpenSSL entities have multiple U.S. bank
accounts; managing multiple existing accounts isn't the problem.

-Steve M.

-- 
Steve Marquess
OpenSSL Validation Services, Inc.
1829 Mount Ephraim Road
Adamstown, MD  21710
USA
+1 877 673 6775 s/b
+1 301 874 2571 direct
marquess at openssl.com
gpg/pgp key: http://openssl.com/docs/0x6D1892F5.asc