Swissquote

[uranium]

Sending to third party yes
Receiving from third party no

 

[Clank]

I wouldn’t trust to‍ use them as a bank, they restrict transfers to many countries. Use them as a⁠ broker.

 

[uranium]

Like which countries?

 

[nobel]

I was asked a stupid question once when I paid rent for an apartment. Maybe‌ because it didn't match my residence? I stopped the transfer and used a different bank‍ without being asked. 🙄

 

[SCHLOSSFINANZ]

Swissquote doesn't like third party transfers. They have a banking licence and a brokerage licence‌
but FINMA doesn't allow them transactional banking

 

[uranium]

Are you a‍ swissquote customer?
Swissquote prefer not to be used as a bank but that doesn't mean⁠ you can't send money out from swissquote.

 

[SCHLOSSFINANZ]

again FINMA licenced Swissquote as a broker with asset management banking. The internal and external‌
auditor does NOT allow third party payments. They accept a single digit amount per month‍ case by case

 

[cuno]

how useful are‍ they if they can't handle third party transfers!

 

[zaybxc]

Is this for both personal and business⁠ accounts?

 

[Clank]

Business I‌ would say even less likely they accept transfers from third party at all.

Only from‍ the members.

 

[zaybxc]

Looking at their website it seems they operate also as a bank for Swiss and‌ middle eastern residents; not so for Europe and rest of the world.

 

[SCHLOSSFINANZ]

it is for both personal and business accounts. Why should they allow third party transfers?‌
They are a discount broker for trading and investing not a payment provider!

 

[CrazyPanda]

Incorrect. I receive a six-figures in my⁠ SQ account every month as my IP revenue from a third paty large company. Just⁤ inform compliance and get approval

 

[SCHLOSSFINANZ]

yes a regular payment from the SAME originator! But not payments from different people every‌ month, thats the difference.

 

[uranium]

You can send funds out of swissquote to any person you want but let's say‌ once a month or so.

 

[CrazyPanda]

The same originator is still considered‍ a third party; it doesn’t matter.

Also, you can’t send many payments to different people⁠ every month with personal banking at any bank. They will question you and they will⁤ either warn you or close your account. You need to open business bank account for⁣ doing business.

 

[SCHLOSSFINANZ]

yes thats exactly what I‍ said

 

[crypto7figs]

i cannot send to third party, it simply does not show other than me as‍ beneficiary and not possible to edit

how do u guys are able to send to⁠ third-parties?

 

[nobel]

SQ Switzerland you can send money to third parties.⁠ SQ Luxembourg does not. Are you with Luxembourg?

 

[nobel]

Sorry it works with both now, I have‍ checked it.