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#2023594 - 06/27/15 12:10 AM WM client requests bank to pay bills in foreign co
anabanana Offline
Junior Member
Joined: Jun 2002
Posts: 36
If our WM client requests us the wire funds to a foreign country for personal family or household purposes (ex. tuition, rent) under the trust would these payments be exempt from the rule because the trust is. not a natural person.

Can you think of a circumstance under a trust where if our WM department initiated a payment for personal, family or,household purposes where it would be considered a consumer transaction?

Been awhile, hope all are well,

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Remittance Transfer Rule
#2023614 - 06/27/15 01:18 PM Re: WM client requests bank to pay bills in foreign co anabanana
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
(g) "Sender" means a consumer in a State who primarily for personal, family, or household purposes requests a remittance transfer provider to send a remittance transfer to a designated recipient.

(e) “Consumer” means a natural person.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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