[openssl-users] good riddance to PayPal
jb-openssl at wisemo.com
Fri May 6 10:52:49 UTC 2016
On 06/05/2016 12:36, Steve Marquess wrote:
> On 05/06/2016 04:40 AM, Michel wrote:
>> Hi steve,
>> Isn't it conceivable to ask one of the European payment service provider to
>> sponsor you by offering a free account / accesss to their plateform ?
>> I know some which are secured only with the help of your product.
>> They should be proud to help in return.
> In my role as the OpenSSL beancounter I've run into a more general issue
> with non-U.S. banks. The great bulk of our donation funding comes from
> outside the U.S. and is spent outside the U.S., and really shouldn't
> need to reside in or even transit through the U.S. But, since I'm
> American and know that country best that's where I set up the OpenSSL
> legal entities and bank accounts years ago.
> I've been trying unsuccessfully to transition our funding to a non-U.S.
> bank for some time. But, we're an unusual organization (banks don't like
> unusual) and I also am operating under a severe handicap known as
> "FATCA", the TL;DR of which being that when a bank sees I'm calling from
> a U.S. number and speaking with an obvious U.S. accent they can't
> dismiss me fast enough, usually before I get the chance to emphasize
> that no "U.S. person" needs to have signature authority for the account.
> I've been through this drill with dozens of banks, from Estonia to
> Singapore. We've gotten as far as opening an account with an initial
> deposit, only to have that bank close the account for unspecified
> reasons a week later. I've spent an unbelievable amount of time on this.
> If there is a non-U.S. bank willing to have OpenSSL as a customer I'd
> love to talk to them. We've even created non-U.S. corporate entities (in
> IoM and BVI) for that purpose; after many months they remain bankless.
Consider having the non-U.S. person do the account setup too.
Banks are as scared of US jurisdiction as crypto engineers.
Jakob Bohm, CIO, Partner, WiseMo A/S. https://www.wisemo.com
Transformervej 29, 2860 Søborg, Denmark. Direct +45 31 13 16 10
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