Say hypothetically a really rich billionaire wants to donate/invest a lot of money to/in you what would be the best non crypto option to get that money since PayPal most bank accounts for that matter would stop and question you on it and probably wouldn’t believe it’s a donation?
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check? EFT? ACH? bank transfer? depends on the amount. When you are dealing with that much money, Step 1: Accountant, Step 2: Attorney. You will be paying taxes, it is their job to minimize it. It is not your job to worry about it. If you are worrying about it, You. Are. Doing. It. Wrong.
Mark the email as spam and move on.
If they really wanted to help, I would not be the person to come to.They would have their people set up a trust fund for you, or they would have their people transfer the money to you.
This is not a problem you need to consider in this situation
Any billionaire that wants to donate money to a cause won’t be giving it to an individual. Only an organization that can give them a tax receipt.
If they are willing to invest millions in me, they can fly their ass over to me and deliver it themselves.
I’d also be willing to fly out to them if theyd rather just buy me the plane ticket.
Don’t give the Nigerian prince your account details!
The bank wont do shit. They dont scrutinize shit. This is also already a common scam and the bank won’t protect you.
The funny thing is I genuinely asked this question spontaneously I forgot that is an actual excuse scammers use and some people believe it
You don’t get to be a billionaire by being nice. They will wring every last bit of value out of you.
The day a camel walked through a needle’s loop.
They will only do this in context of a company. Get a lawyer to setup a llc. They do sometimes give money this way - see angel investors, but you need a company for legal reasons.
They don’t, they want to help themselves, if you happen to benefit as well, it’s basically a rounding error on their part which they’ll be sure to minimize in the future.
OP, if this is anything more than “hypothetically”, you are absolutely definitely being scammed right now. Break off chat with the “billionaire”. If you’ve given them your financial details, call the phone number printed on the back of your bank card. If you use Windows or MacOS, run a scan with Seraph Secure to make sure nobody has remote access to your computer.
That said: billionaires deal with banks and financial institutions of all kinds all the time. They’ll have their bank communicate directly with your bank before making a bank transfer, so both banks know exactly what’s happening. You may need to pay tax on the donation/investment. Use some of the money to hire an accountant.
Using legit regular banks would be your best bet to avoid scams or being accused of fiscal crimes.
It depends on where the billionaire’s and your bank account are located (some restrictions may apply), but a normal bank transfer works perfectly for any amount. Of course for large amounts it’s better to contact the banks first because it may reject a large deposit if it comes out of the blue.
For donations there will be taxes and some bureaucracy, the anti money laundering will be triggered, but it’s nothing impossible to handle.
If my nigerian princes have taught me anything is that these kind of things are always best done by western union.
They just make a bank transfer. The real issue is the taxation.
Every country has a threshold for how much someone can receive without paying taxes.
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