(06-11-2016, 06:44 AM)Breacher Wrote: I'd imagine sending to many different names would raise a flag. I believe that one of WU's rules it that you must know the receiver in person.
I think that really WU knows that a lot of customers who use their service would be people like us and I'm sure they need us and don't want to lose us as customers. Perhaps they have a decline or investigate a certain percentage of daily transfers to keep LE off their back.
Does anyone use RIA money transfer? It's very similar to WU and MG but RIA will only transfer funds for people who have a bank account in the US which unfortunately counts me out. Then again maybe I could open an account in the US if it's possible to do so from outside the US... I have citizenship but I've just never lived there.
I have to agree with you that someone high up at these companies realizes that much of their revenue comes from people using their services to make purchases and maybe that's why one day a "counter troll" (as I so lovingly call those low on the totem who get off on the wee amount of authority they wield due to the fact that bureaucracy, whether corporate or governmental, requires us to occasionally go through them to use their services) will decline a transfer and the next day an automated service sends it right through.
Especially now a days. I mean come on, if I was to actually send money to a friend I would not use MG/WU, I and I think most other 21st century people would just deposit cash into their bank account. Unless they needed "money in minutes" I don't see any reason to use MG/WU for their stated purposes.
Breacher, what is IRA money transfer? For that matter what is CIM?(I think that was mentioned on the previous page) Forgive me if these are total noob questions.
(06-20-2016, 08:12 PM)devlspawn Wrote: Awesome tips Lunar, thank you so much for taking the time to write up/aggregate them all. Is there any benefit to LLC over Trust that you know of?
Hi Devlspawn, thank you for your question. Forgive me for taking so long to reply.
As for LLC vs. Trust, it really all depends on what you are trying to do. If you are just trying to be a little more anonymous when using WU/MG I'd say get yourself an LLC. They are really easy to set up (just google "how to set up an LLC in my state/country) and when conducting business in the public, having a public entity (i.e. one granted by the state) like an LLC just makes things easier. Counter trolls are used to seeing LLCs, INCs... etc etc, what they are not used to seeing is trusts and you are liable to get harassed every time you want to conduct a little business..
But if you were to ask which is better an LLC or Trust to someone with a last name like Kennedy, Trump, or Rockefeller they'd say an Irrevocable Private Trust is better hands down. Strategic use of trusts is how the uber wealthy stays uber wealthy. When the family of that girl who died in the car wrek with Kennedy sued the family all they got was the wrecked car, because that was they only thing the liable entity, or trust, owned.
But when it comes to conducting business or holding property in the private, among private individuals, trusts are always a good way to go. They provide unparalleled security, privacy, and existing only in your file cabinet, are easier to set up. To put it simply a trust is nothing more than a contract, or an agreement between private individuals at the behest of someone or some entity who is intended to benefit from said agreement. A quick example: If I give you $20 and tell you to give it to your son on his birthday, we just created a trust. I entrusted you with $20 with the terms of our agreement specifying your son as the beneficiary. Once the twenty is delivered the trust is dissolved.
And all men, rich or poor, have the absolute right to contract. In fact, it is specifically enumerated in the US constitution. (On a darker note, it is this very same right to contract that the elite have used to trick us into accepting a lesser position in life than the absolute freedom that is our birthright. But that's a rabbit hole best reserved for another time)
If you'd like to learn more about trusts there is an enormous wealth of freely available information on the web. You definitely DON'T need to hire a lawyer. In fact if you do, unless you find yourself a common law or constitutional lawyer, you'll most likely will end up with a very expensive statutory trust which is very public, and you might as well have just gone with the LLC.