I am an owner of an LLC. I have someone to lend us about $300,000 to start up a new line of business, but he cares very much about the possibility that people become aware that he is a lender. He wants anonymity due to the nature of business (adult goods).
I believe there is no way that people would know that he sent a wire to us unless I let people know or disclose the loan agreement/bank transaction, but cannot be 100% sure. Please advise.
There are different degrees of anonymity. Could a person contact your bank and ask where you got your capital? No. Will a bank divulge to just anyone asking where their wires came from? No. Do banks recognize the customer's need for financial privacy and train staff to adhere to high standards of confidentiality? Yes. Could a law enforcement officer have your bank records subpoenaed and follow a money trail? Yes.
Protecting any such information from the public is a requirement banks will follow, but if there was ever any attempt at breaking the law, your bank wouldn't be a part of that. They would obviously respond to any legal request for information. In this case it sounds as though your interest is in the former, and you should have peace of mind in that protection of your financial affairs will be foremost in your bank's procedures.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
There are different degrees of anonymity. Could a person contact your bank and ask where you got your capital? No. Will a bank divulge to just anyone asking where their wires came from? No. Do banks recognize the customer's need for financial privacy and train staff to adhere to high standards of confidentiality? Yes. Could a law enforcement officer have your bank records subpoenaed and follow a money trail? Yes. 