Totally new subject for me, before an account is opened (CD) what should I be looking for? US Citizen manages 2 trust accounts in the Cayman Islands. Those companies do not have EINs. They are a re-insurance company. They want to open 2 CDs that total $8 Million dollars. They money is currently in another bank and has been, they say, for a long time. No transactional accounts - for the moment. Am I justified in having concerns?
Any guidance would be appreciated.
Faith is seeing light with your heart when all your eyes see is darkness...