Is there such thing as a insurance bond on money being to transferred from another country?

UPDATED: Feb 11, 2012

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Is there such thing as a insurance bond on money being to transferred from another country?

My fiancee is working in Thailand and will soon be returning to the states. He wants too transfer his salary here, but I was told I would have to pay an insurance bond and I must send a pretty large sum of money by Western Union before it could be transferred. Is this true?

Asked on February 11, 2012 under Insurance Law, Missouri


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

I have never heard about a bond for a person to transfer assets that one person has from one country to another country. If your fiancee has assets and wishes to transfer them to the United States, I suggest that he open up a bank account in the United States and simply have a wire transfer of his cash assets from a financial institution in Thailand to the United States bank.

This practice happens world wide as suggested.

I suspect that you might be the subject of some scam requesting money to be sent by Western Union in order to have an insurance bond for the transfer of money in Thailand to this country. I suggest that you speak with a representative with a reputable bank in this country as to the best way to transfer the money over.

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