Group: ii - Payments to THInK - Practical and Legal considerations

All payments that are made to the USA from Russia, can take about 10 working days to clear into the account of THInK in the United States. Taking into consideration the number of Public and National holidays in both Russia and the USA, it would complicate things if payments were not authorised for any reason.…
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To make any Bank payments from Russia to the USA, there are certain legal considerations that apply. The first would be to comply with the Russian Central Banks regulations which apply to prevent fraudulent money laundering or the provision of funds in aid of supporting terrorism. To this end, any bank in Russia is authorised…
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If THInK had to collect a minimum amount of cash from about 10% of the attendees, they would have to much physical cash to be transported in and around the event hotel and Moscow without risk to their own safety. That would require additional security to protect the person who was looking after the cash,…
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THInK is a company based in the United States and this means that they are legally not allowed to accept any cash payments in Russia. According to Russian Federation laws – the collection of cash in any foreign currency without the proper authorisation from the relevant Russian government department, would be illegal. The collection of…
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Your Credit or Debit card will have limitations on how much money you can transfer in a single day or even a single month. You will need to make sure that you have sufficient funds in your account and you will also need to know what your limits are on your card.