Legal Question in International Law in New Jersey

Re: Patriot Act clearance fees

I know of nothing in the Title III of the Patriot Act (relating to money laundering) or the related Banking Secrecy Act that deals in any way with certification regarding the origin of money. Banks are required to perform certain functions by the Patriot Act and that may influence the amount of any fee that may be imposed for foreign funds transfers. For more information, google "Patriot Act banking".

If you need to deal in foreign currency, look for a bank in a major city. Banks that do not handle currency exchange matters frequently will typically charge much larger fees to handle a transaction.

See also: http://info.corbettlaw.net/lawguru.htm

Re: Patriot Act clearance fees

I know of nothing in the Title III of the Patriot Act (relating to money laundering) or the related Banking Secrecy Act that deals in any way with certification regarding the origin of money. Banks are required to perform certain functions by the Patriot Act and that may influence the amount of any fee that may be imposed for foreign funds transfers. For more information, google "Patriot Act banking".

If you need to deal in foreign currency, look for a bank in a major city. Banks that do not handle currency exchange matters frequently will typically charge much larger fees to handle a transaction.

See also: http://info.corbettlaw.net/lawguru.htm