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On Mon, 2011-02-07 at 18:18 +0000, toki wrote:
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On 02/07/2011 01:27 PM, drew wrote:

A requirement to have to have a US bank account in order to receive funds is not the same thing 
as saying the money must be dispersed in the US only, is it?


A couple of things to do, before setting up the business account:

* Make sure that you really want to have a business presence in the
state that the bank that handles the account is located in.

* Decide what currency you want the account to be denominated in.
(I don't know how that affects Amazon Processing.)
( I don't know how FDIC works for non US-Dollar denominated accounts.)

* Verify that the bank is financially sound.
(The Federal Reserve Bank is on track to close more financial
institutions this year, than in the previous two years, combined.)

Good points but I don't see it quite same way, as kickstarter is an all
of nothing situation - you set a target and if you hit it or exceed it
you get the funds, if not they go back to the donors - so I would say
you don't want to setup to do business of any kind in the US beyond the
ability to accept funds into a checking account and then later transfer
the funds as one lump sum to the proper account for the foundation and
close the account.

As for the target amount for 100,000 euro with a close date of March
30th, and todays exchange rate or 0.73 it would take $136,166 USD. Given
the time frame $150,000 would seem a large enough cushion, even with
fees, anyway that's just my quick swag at it.

Also - Benjamin mentioned a different site that I have no information on
and perhaps it does not have this US - either way, the necessary banking
setup and then a media campaign..that is a darn tight schedule.

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