Hi, my siblings and I just received first payments after being forced pooled by Midstates Petroleum. However, one of my brothers lives in Europe and has a different banking system that the U.S. does not use called IBAN. He did not get his pooling letter, so he has no owner number yet. His money is waiting for him to sign a W-9 and direct deposit form but cannot give a check routing number since they use the EU transfer system with no physical banks.
Multi question here. The company has merged with a company in Texas, which complicates things. No one from Midstates responds to questions about how to get him his money or about the W-9 question. The Texas company responded but has no idea how to process him. They said Canada is the closest thing they can think of.
Is there some sort of bank like Bank of America that he could join and use American branches to access funds electronically? We tried to start an account at my local bank, but he would need to fly here to physically open it, and they don’t do international transfers. The U.S. does not use the European Union IBAN electronic transfer system. We are at a loss.
Will an oil company be able to use a PayPal-type online account instead of a physical bank check or American direct deposit? The tax thing is a separate issue.
Thanks for any advice.