scorchy
Footballguy
Greetings. It's been a while, but the FFA is still the first place I turn when I literally have no clue how to solve something.
Last night, a close friend from growing up who has lived in Taiwan for years asked if she could call me to brainstorm a problem. A couple years back, her father died and left her about $200K. It's been sitting in her U.S. M&T bank savings account (and yes, she's been paying taxes) since the estate was settled. She wants to buy an apartment in Taiwan and needs the money from M&T, preferably sooner rather than later because she found a place she really likes that's being sold by a coworker.
When she contacted M&T, they told her the only way they could send the money to her Taiwanese account is for her to fly to the US and fill out the paperwork in person - wiring the money isn't possible. M&T's website indicates this is standard policy. No one at M&T will budge on this and they don't seem willing to offer any other options. So, after I spoke with the old friend, Mrs. Scorchy and I started brainstorming and I decided to play the "ask the FFA" card:
1) Could she open another US bank account from abroad (at a bank that allows foreign wire transfers (without being in-person) and hope that M&T would allow a domestic wire transfer?
2) Could she somehow give me power of attorney without leaving Taiwan, thus allowing me to go to M&T on her behalf?
3) Is there anything else we're not considering?
I'm thinking the only realistic solution is that she's gonna have to fly here over during her school's break this winter, but then she'll miss out on this particular apartment. Appreciate any insight and yes, I'm 100 percent sure this isn't some sort of scam.
Last night, a close friend from growing up who has lived in Taiwan for years asked if she could call me to brainstorm a problem. A couple years back, her father died and left her about $200K. It's been sitting in her U.S. M&T bank savings account (and yes, she's been paying taxes) since the estate was settled. She wants to buy an apartment in Taiwan and needs the money from M&T, preferably sooner rather than later because she found a place she really likes that's being sold by a coworker.
When she contacted M&T, they told her the only way they could send the money to her Taiwanese account is for her to fly to the US and fill out the paperwork in person - wiring the money isn't possible. M&T's website indicates this is standard policy. No one at M&T will budge on this and they don't seem willing to offer any other options. So, after I spoke with the old friend, Mrs. Scorchy and I started brainstorming and I decided to play the "ask the FFA" card:
1) Could she open another US bank account from abroad (at a bank that allows foreign wire transfers (without being in-person) and hope that M&T would allow a domestic wire transfer?
2) Could she somehow give me power of attorney without leaving Taiwan, thus allowing me to go to M&T on her behalf?
3) Is there anything else we're not considering?
I'm thinking the only realistic solution is that she's gonna have to fly here over during her school's break this winter, but then she'll miss out on this particular apartment. Appreciate any insight and yes, I'm 100 percent sure this isn't some sort of scam.
) to let her know she's probably SOL. Guess she'll be making a trip stateside in January - no real family so looks like we might need to plan for a slightly loony houseguest.
