K.I.S.S Exchange Form : by Foresee and Londongurl at TNT
08/17/2014
This content is for general information purposes only and does not constitute advice of any kind. All information given is the opinion of the provider.
Foresee and Londongurl: Keep It Simple Stupid Exchange Form- Preparing for the Shock of Joy!
In case I have a Brain Fart while at the bank, I made it Simple Stupid. Maybe you can benefit from this too. Have one copy for you, & one copy for the Bank Officer so you can check it off as you go. Also to have on file in case 5 yrs down the road you need perfect records for a Second audit.
If you can think of any ways to improve do share your ideas! This is just a starting place. I'm not an attorney, accountant, or banker I'm just sharing ideas that might assist others too. Maybe you've got better ones! Do share your Brilliance!
I'll Be Opening 5 Non Interest Bearing Accounts Per Currency______.
#1 Account: opening to exchange ______ into USD.
#2 Account: Internal transfer of all within #1 Account into #2 Account.
#3 Account: Internal transfer of 55% of Exchanged Total in USD for Taxes.
#4 Account: Use for bank wires, paying reserves, for purchasing a car, a house, etc.
#5 Account: Play & Living Expense Account.
All Accounts Must Be:
Non-Testing, Non-Training Accounts with Access Only by Myself & My Personal Private Banker. Private Bankers Name: _____________________________________.
Keep all account numbers, opening documents, & receipts for 7+ yrs.
All accounts must be at 0 balance in USD before depositing exchanged funds in USD into accounts.
Numbers in ( ) reference the total # of receipts per currency if opening 5 Accounts. Label each receipt as in: #1 Account- (6). Do for all receipts: #1- #5 Accounts.
(1-5) I need a receipt per account that the balance was at 0 before depositing exchanged funds into each account. 5 receipts per currency.
_______#1 Account: _________________________________(Actual Account #).
_______#2 Account: _________________________________
_______#3 Account: _________________________________
_______#4 Account: _________________________________
_______#5 Account: _________________________________
(6)_____ I need a receipt of balance in #1 Account of total value in USD after currency exchange.
Amount Transferred into #2 Account: $______________________________________.
(7)_____ I need a receipt of 0 balance in #1 Account after funds have been transferred to #2 Account before closing #1 Account.
After exchange & transfer, close #1 Account.
On #2, #3, & #4 Accounts: All money transactions over $10,000 must be IN PERSON ONLY with 2 forms of picture ID.
(8&9)_____ I need receipts of balance in #2 Account of total value in USD before & after Internal transferring of funds into #3 Account for Taxes.
Amount Transferred For Taxes: $__________________________________________.
(10)_____ I need a receipt of Final Balance in #3 Account after transfer from #2 Account of total value in USD for Taxes.
(11&12)_____ I need receipts of balance in #2 Account of total value in USD before & after Internal transferring of funds into #4 Account for Bank Wires.
Amount Transferred For Bank Wires: $______________________________________.
(13)_____ I need a receipt of total balance in #4 Account after transfer from #2 Account of total value in USD for Bank Wires.
Keep all documents of bank wires for 7+ yrs.
(14+)_____ I need a receipt of balance in #4 Account after each bank wire.
(15)Amount $_______________________________ For:______________________________
(16)Amount $_______________________________ For:______________________________
(17)Amount $_______________________________ For:______________________________
(18)Amount $_______________________________ For:______________________________
(19)Amount $_______________________________ For:______________________________
(20)Amount $_______________________________ For:______________________________
(21)_____ I need a receipt of Final Balance in #4 Account after all Bank Wires have been completed.
(22)_____ I need a receipt of Final Balance in #2 Account of total value in USD after Internal transferring of funds into #5 Account for Play & Living Expenses.
Amount Transferred For Play & Living Expenses: $____________________________.
(23)_____ I need a receipt of Final Balance in #5 Account after transfer from #2 Account of total value in USD for Play & Living Expenses.
Double Check that you have a Final Balance Receipt for #2, #3, #4, & #5 Accounts. Label receipts as Final Balance.
*Tell your Private Banker you'd like 'Current Balance' receipts before & after every future transaction to keep your records in order. (This is the term my bank uses, not every bank will print your current account balance on your receipts unless you request it.
Even if you must deposit a penny to get your current balance.) *Also ask for a Transaction History for the last 30 days every month for your records. For cross referencing to ensure no one's playing Hanky Panky with your money!
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