Would like opinions on this: My husband knows someone here in NY who has 18,000 Euros in a bank account in Italy. He's interested in converting them to dollars, we need Euros. The proposition is this: He will sell them to us for $22,000 USD (so far so good I think?) and then will call his bank and authorize them to release the money to my father-in-law in Italy. (This seems to save us some bank commissions for transfering money as discussed in another thread). Does this sound like it will fly to those of you who have dealt with Italian banks before? I need to go through some hassle to gather the $22,000 together..would rather not waste my time if it's ultimately going to be impossible. Of course, he needs the money quickly and wants to do this within a week or two.

I think this will work although the bank will undoubtedly want the instruction in writing. We frequently instruct our Italian bank to pay individuals (i.e. painters, bricklayers etc.) by fax and provided the person can show sufficient proof of identity I think there should not be a problem.

I don't know if there will be any problem, though releasing the money to an individual who will not be raising an invoice for it, i.e. who will be receiving the money on a non-commercial basis. I can't see why there should be. I know there are strict money laundering laws in Italy, but the bank would know who had received the cash so I don't see why it should pose any difficulty.

And of course, I'd want to know this person in N.Y. REALLY well before I handed over a cheque for $22k

Good luck.

Beebee

Further details I've just learned...the guy with the euros he wants to exchange is a cousin's wife's father. The money isn't at a bank, it's with the nuns at some local convent! So I think it just got easier. We're going to give him some of the money this weekend, the rest in a couple of weeks. In February we continue construction on our little "farmer's shed" in Giglio (Veroli, Frosinone)...goal is to live there starting Summer, 2005. Thanks Beebee!

much easier.. but get receipts!!!
there are laws in Italy ANTIMAFIA that with banks anything over 10.000 gets reported to the government.. no big deal.. if you aren't mafia!

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