Part 8/11:
Avoid banks that utilize dubious correspondent relationships. Banks aligned with reputable firms are more likely to manage funds well.
Lesson 18: Keep Your Information Updated
Ensure that your records are up to date with your bank, as squared-away information can save you from problems down the line.
Lesson 19: Test Wire Transfers Before Large Transactions
Before sending substantial international wire transfers, test the process with smaller amounts. This will help you avoid potentially costly mistakes.
Lesson 20: Build Trust With Your Bank
Introduce your banking activities to your bank clearly and openly. This helps foster a good relationship, making account management more straightforward.