Totally off-topic help request!
Not too long ago I read from one of the heavyweight marketers that the most difficult thing about success with IM was how to cash the checks! Sure, I thought; there's a load of BS.
Well...you don't have to be successful; just preparing for it.
I have a major product relaunch coming in January: a CPA and continuity offer.
Everything sweet, huh? But...
I have two addresses and bank accounts, one in Canada and the other in Panama where I am a permanent resident. I also have two PayPal accounts, one for each address. But Panama is persona non grata with PayPal. I can deposit money into the Panama PP account but then can spend it but not withdraw it!!! A bit ridiculous given I expect tens of thousands of dollars a month.
I could use the Canadian account but U.S dollar income would be exchanged for Canadian dollars (even though I have a U.S dollar account in Canada) before deposit even though the money would do an immediate turnaround back into U.S dollars, the currency of Panama, before being forwarded to my Panamanian bank. Cost for each conversion: 5.75%, a total of 11.5% plus PayPal's fee. That's roughly 14% and far too rich to make business sense.
I contacted a U.S bank and was told I would need a registered business and to live within 10 miles of a branch to open an account to accept payments from PayPal. (Not that it matters, much of the early income will be spent in the U.S to buy a boat.)
I can't believe, if I could travel to the U.S, opening a bank account would be so difficult.
What I think I now need is an inexpensive attorney (maybe even one who is still articling) to act under power of attorney for me in the U.S to open a bank account in my name. Maybe an accountant could do the same thing. Surely *someone* knows how to do this!
I don't care what bank it is as long as it is large enough to remain solvent. I use ScotiaBank in Canada and HSBC in Panama. I don't care where it is in the U.S either. The boat I am looking at (yearning for!) is in Portland but checks or wire transfers don't really care where they originate.
Another alternative would be to use a U.S merchant account to clear credit cards, but I am aware that some are shady and this is foreign territory for me in more than one sense.
Does anyone have advice or a trustworthy contact?
All the best,
Sydney
Well...you don't have to be successful; just preparing for it.
I have a major product relaunch coming in January: a CPA and continuity offer.
Everything sweet, huh? But...
I have two addresses and bank accounts, one in Canada and the other in Panama where I am a permanent resident. I also have two PayPal accounts, one for each address. But Panama is persona non grata with PayPal. I can deposit money into the Panama PP account but then can spend it but not withdraw it!!! A bit ridiculous given I expect tens of thousands of dollars a month.
I could use the Canadian account but U.S dollar income would be exchanged for Canadian dollars (even though I have a U.S dollar account in Canada) before deposit even though the money would do an immediate turnaround back into U.S dollars, the currency of Panama, before being forwarded to my Panamanian bank. Cost for each conversion: 5.75%, a total of 11.5% plus PayPal's fee. That's roughly 14% and far too rich to make business sense.
I contacted a U.S bank and was told I would need a registered business and to live within 10 miles of a branch to open an account to accept payments from PayPal. (Not that it matters, much of the early income will be spent in the U.S to buy a boat.)
I can't believe, if I could travel to the U.S, opening a bank account would be so difficult.
What I think I now need is an inexpensive attorney (maybe even one who is still articling) to act under power of attorney for me in the U.S to open a bank account in my name. Maybe an accountant could do the same thing. Surely *someone* knows how to do this!
I don't care what bank it is as long as it is large enough to remain solvent. I use ScotiaBank in Canada and HSBC in Panama. I don't care where it is in the U.S either. The boat I am looking at (yearning for!) is in Portland but checks or wire transfers don't really care where they originate.
Another alternative would be to use a U.S merchant account to clear credit cards, but I am aware that some are shady and this is foreign territory for me in more than one sense.
Does anyone have advice or a trustworthy contact?
All the best,
Sydney