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Originally Posted by GoodGuy
The bank said:
"Ok, we see you are receiving a lot of wire transfers. Next time you come to the bank you will need to show us some papers that show where does the money comes from. We just need to be sure it is not from money laundering"
They are not asking for a specific document. Just a proof.
I guess a signed letter from the sponsors saying I earn a comission for sell of services and with the list of wires they send is enough?
How do sponsors and billing processors deal with this when a webmaster need papers for the bank? What info would they send to a webmaster like me if my bank ask for these papers? If any guy from those companies could help me out, it would be great also.
Anybody gone through this before?
Any advice appreciatted. I would like to avoid lawyers for now, because it's something I must resolve within this week.
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Normally banks have a declaration form your can sign where you will state the source of funds. Basically this is the name and contact info of the sender and, in general terms, state reasons for the payment (and no, don't explain it comes from Candy's Cumfilled Whatever site
- they don't want to hear about that - "internet marketing" will do).
Under OECD and some other regs, banks are obliged to monitor money movements over $10K under certain conditions else their banking regulator will kick ass.
Suggest you ask em for their form to cover "source of funds" and fill this in - it's no biggie.