that's very very new to me that they have releaxed their policies! Are you sure about that?
I used FBS Cyprus.
Yes, they relaxed their policies earlier this year. I was able to open account for Malta trading company which can be considered high risk, something that was not possible a year ago.
Not bad. I have been working with them for years. The last time I tried to open an account with them was in 2017 where it was difficult, if not impossible, to open an account for company actually registered in Cyprus.
Wirecard is a bank. With a bank, you are protected under deposit insurance law which across EU is typically 100,000 EUR per person per bank. Anything above that amount is up to courts and creditors to claw back from the mess the bank leaves behind as it crashes and burns.
Well there is a catch though. It's unlikely but can happen: If the bankend bank of an EMI fails you are screwed because this kind of business accounts are usually not 100,000€ protected in the EU. Some years ago Sata bank failed in Malta and it was the backend bank of the EMI Leopay. Afaik people could not access their money for a long time and some also lost money.
