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Anyone know how the money is typically received?

Topic closed. 19 replies. Last post 4 years ago by joshuacloak.

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Republic of Texas
United States
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January 9, 2008
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Posted: April 23, 2013, 7:59 pm - IP Logged

Google "Private banking services".

Jimmy

Ditto.

Also look at CDARS which provide higher FDIC coverage if you are looking only at using banks & savings accounts rather than investment firms.

 

I'm fairly certain funds that large are processed through electronic transfer.

face

singlewinnersinglewinnersinglewinner   

    noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
    Bay Area - California
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    Posted: April 23, 2013, 8:28 pm - IP Logged

    There is always the Swiss banks & the ol favorite- Cayman Islands. That's where Mitt Romney stashes his millions.

      whiteballz's avatar - Lottery-015.jpg
      Nutley, New Jersey
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      Posted: April 24, 2013, 2:33 am - IP Logged

      "If you won $150 million, there wouldn't be enough banks in America to spread your money out to and have every dollar covered by the FDIC"

      Right. Because there are fewer than 600 banks in the entire country.

      There isn't 600 different banks in America. The banking sector has been consolidating over the years with banks merging and big banks acquiring smaller banks.

      The 250k FDIC limit applies to different banks, so going to a Bank of America in NYC and depositing 250K in a savings account and then going to a Bank of America in Newark, NJ and depositing 250K in a savings account will mean only 250K will be insured and not 500K. As far as the FDIC is concerned the Bank of America in NYC and the Bank of America in Newark, NJ are the same bank and you will only have 250K insured.

      To have every dollar of the 500K insured you will need to deposit 250K in a Bank of America and the other 250K in some different bank like Wells Fargo.

      .

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        Ha noi
        Viet Nam
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        April 24, 2013
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        Posted: April 24, 2013, 3:20 am - IP Logged

        There isn't 600 different banks in America. The banking sector has been consolidating over the years with banks merging and big banks acquiring smaller banks.

        The 250k FDIC limit applies to different banks, so going to a Bank of America in NYC and depositing 250K in a savings account and then going to a Bank of America in Newark, NJ and depositing 250K in a savings account will mean only 250K will be insured and not 500K. As far as the FDIC is concerned the Bank of America in NYC and the Bank of America in Newark, NJ are the same bank and you will only have 250K insured.

        To have every dollar of the 500K insured you will need to deposit 250K in a Bank of America and the other 250K in some different bank like Wells Fargo.

        Sadly the current economy

          joshuacloak's avatar - Money Swim-uncle-scrooge-mcduck-35997717-677-518.jpg

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          Posted: April 24, 2013, 3:50 am - IP Logged

          this is easy

          first off if u won pb/mm

           it takes just about 2 full weeks before they have all money  and send it to a special account u setup for bank

          just have lawyer tell bank  ya  we need a account to hold x millions form lottery, trust me they handle the setup

          also  Wells Fargo is Very large firm, they can more then handle u

          hell there one Best of large banks 

          here invester thing

          " in 2013. The San Francisco–based bank has notched another massive quarter, with $5.1 billion in net income, capping off a year in which it earned $18.9 billion on $86.1 billion in revenue. Profits in 2012 were up 19 percent from 2011"

           

          ya they can handle it bro.  hell if i won, that be one of 2 banks i setup with in a major win

          sense if they failed, will  american would be doomed /or ww3  anyway at that point money would be worthless......

           

          also there one of big banks for people with so much money it make u sick

           

          Wells Fargo Abbot Downing brand 

          The formed division will focus on the country’s crème de la crème, catering to the needs of individuals and families having assets to invest in excess of $50 million. Although wealth management services for the ultra rich is a notably fragmented market, notable competitors are the other big banks Bank of AmericaCitigroupGoldman Sachs and JPMorgan who have also been aggressively pursuing the ultra rich.

           

          wells Fargo insists that the brand is a ‘one-stop shop’ for everything that the ultra rich individuals and families will ever need – something it illustrates from the fact that Abbot Donning encompasses an asset management division, a private banking channel, a combined trust and fiduciary service, and even a group that addresses family psychology and governance.

           

          trust me. if they can't handle your lottery money,  no one can.

           

          but ya,  once u "won" pb/mm  all diff states collect the Money to there own accounts  within each state

          then ship it off/aka wire it to winner/s state account, once all states have wired money in to  winner/s  lottery state account

          then they"your state where u won and now atfer  say the week has money now all in 1 account ready for u"

          they then wire it to Special account your bank just created for U. in all 2 weeks to get it

          thats  about 2 weeks, to work with lawyers/team of Money type people,and have ever thing ready to invest it day u get in bank

          so its all good.

           

          however that's if u Claim sec  u won

          if u waited say 2 weeks atfer the draw, before even walking into lottery HQ

          they already by then have all money in 1 account, waiting for u, it just take  a few days for paperwork/banks to clear ever thing, not full 2 weeks if u claimed DAY atfer the draw, get me?

           

           

          thro be aware of monster banks  doing 1 stop shop of ever thing u need,  they charge a commen 1% fee on wealth to do ever thing for u.

          .  ofc  they plan to make u millions investing it there way, so it pays for it self

          but i perfer personaly a for FEE only lawyer/ finacial planner/broker/dealer etc

          not a % firm, but my god do they make stuff easy

          No bees, no honey.