banking/law question

globetrotter · Sep 26, 2010

ok, weird question - my mother in law (who lives in Colombia) has a bank account in the states. she keeps a small chunk of money in this account, mostly for things that she does in the states.

we just got letter (addressed to my mother in law) from the bank saying that they were canceling her account, and that they didn't have to tell her why. the only think that I can think of is that they are suspecting her of iligal activities, and I don't want that to effect me and my wife.

the bank isn't closing or changing hands.

any thoughts on why this could be happening?

RedLantern · Sep 26, 2010

Maybe she is a bish to them too.

scurvyfreedman · Sep 26, 2010

How small is the chunk of money? Maybe it's too small. Maybe she makes too many transactions and it costs them too much versus the interest they gain off of her money.

dragon8 · Sep 27, 2010

How does the money get to the account? Does she make withdraws in Columbia? Any suspicious activites can get the account closed whether its true or not.

Usually they close the account due to inactivity but they usually tell you thats the reason.

Rambo · Sep 27, 2010

Inactivity or terrorism. I can't imagine any other reason and even with inactivity they'd send a letter and start charging a fee.

globetrotter · Sep 27, 2010

no, when I say "small chunk" I mean, enough to buy a few luxury vehicles, and there is movement every month. and she doesn't really have much contact with the bank, so I can't believe that she has pissed people off. mostly, some money comes in a few times a year and then we wire it down several times a year to her.

CouttsClient · Sep 27, 2010

Originally Posted by globetrotter

no, when I say "small chunk" I mean, enough to buy a few luxury vehicles, and there is movement every month. and she doesn't really have much contact with the bank, so I can't believe that she has pissed people off. mostly, some money comes in a few times a year and then we wire it down several times a year to her.
They don't want to be involved with those transactions (regular wires) to Colombia...

Rambo · Sep 27, 2010

Originally Posted by globetrotter

no, when I say "small chunk" I mean, enough to buy a few luxury vehicles, and there is movement every month. and she doesn't really have much contact with the bank, so I can't believe that she has pissed people off. mostly, some money comes in a few times a year and then we wire it down several times a year to her.
Damn, your MiL is ballin'. Have her send some of that "movement" my way. She did get the money back once they closed the account, right?

Don Carlos · Sep 27, 2010

Originally Posted by globetrotter

no, when I say "small chunk" I mean, enough to buy a few luxury vehicles, and there is movement every month.

Hey bra, will you put me in touch with her? I'm having a big party next weekend and am all out of favors. Have been looking for a reliable hookup.

dragon8 · Sep 28, 2010

Originally Posted by globetrotter

no, when I say "small chunk" I mean, enough to buy a few luxury vehicles, and there is movement every month. and she doesn't really have much contact with the bank, so I can't believe that she has pissed people off. mostly, some money comes in a few times a year and then we wire it down several times a year to her.

What you described is suspicious particulary wiring money to Columbia.

How much are you wiring down? You and your wife could be in some trouble if you knew the money was illegal. Becareful.

Don't speak to he Feds without an attorney present.

GQgeek · Sep 28, 2010

I'm trying to understand why your MiL is living in colombia? Seems like a weird fit from what we've heard about her...

Banking laws down there do deviate from the norm iirc though. Been a while since i've read up on it and can't remember the details. i'm pretty sure I read at some point that some banks don't like transfer from outside the country. but maybe not... like I said it's been a while...

globetrotter · Sep 28, 2010

money is legal - basically mil's father died and left her money in a US account, and she didn't want to take it to Colombia, because kidnappers can keep track of how much you actually have in the bank.

we closed the account, put it into a casheirs check in mil's name and sent it to her. done and done.

my mil lives in colombia because she is colombian, and she has a good life there.

thanks

GQgeek · Sep 28, 2010

so your wife is hispanic? I always thought she was israeli... is she jewish at least?

dragon8 · Sep 28, 2010

Originally Posted by GQgeek

so your wife is hispanic? I always thought she was israeli... is she jewish at least?

I believe his wife is Colombian since the mom is Colombian

rnoldh · Sep 28, 2010

Originally Posted by globetrotter

my mil lives in colombia because she is colombian, and she has a good life there.

thanks

This is a very good reason to live in Colombia

I hope your twins get a chance some time to visit Grandma in Colombia.

It,s a very beautiful country. I don,t keep up with Colombia like Mexico, Z. Would you feel 100% safe taking your family there for a visit?

banking/law question

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