Which bank accepts business account related with crypto trading?

[Cocopops]

I am an estonian resident with an open trading company in estonia.
My problem is that I can't find a bank that accepts to open me a business account, the reason is the main activity of my earnings is crypto trading.
Actually I tried to open a business account with revolut and the local estonians banks. But just one kind of answer after I mentionned crypto ==> "NOOO!!!"
Do someone actually succeed to find a bank that accepts this kind of things?

 

[Gediminas]

Hey,

Check out Bankera, they are crypto-friendly. In case you need help with onboarding, let me know, I am close to this financial institution.

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https://locked.money - Your Crypto Management Company, Ready in Days ”“ Trade, Invoice, $1,200/Year!

 

[Cocopops]

Gediminas said:
Hey,

Check out Bankera, they are crypto-friendly. In case you need help with onboarding, let me know, I am close to this financial institution.
Click to expand...

Thanks for the reply, I will try that

 

[JustAnotherNomad]

You should also check if you need a license for your company to be allowed to trade in crypto.

 

[Cocopops]

Gediminas said:
Hey,

Check out Bankera, they are crypto-friendly. In case you need help with onboarding, let me know, I am close to this financial institution.
Click to expand...

I tried yesterday, but they ask several documents that looks complicated to have. Is it the normal process to open an account with bankera?
Maybe it is because I try to open a business account, and the thing to do is to open a personal account.

1. Certificate of Incorporation or Extract from your local Register of Commerce (not older than 6 months)*
2. Memorandum and Articles of Association*
3. Company's register of shareholders and directors (not older than 6 months)*
4. Legalized with an apostille power of attorney for company's representatives (if the representative is not a director)
5. Financial statements for the last 3 years (if applicable)
6. Bank account statements (if applicable)
7. One or two paragraph-long description of your business model, main partners, and revenue streams
8. Any other documents you think are relevant for us to understand your company's business process.

 

[Martin Everson]

This is bare minimum that a bank or EMI should ask for.

You can always try EMI's like Finductive etc. Otherwise try real banks like BankFrick, Seba etc but be prepared to have deep pockets with last options.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Cocopops]

Martin Everson said:
This is bare minimum that a bank or EMI should ask for.

You can always try EMI's like Finductive etc. Otherwise try real banks like BankFrick, Seba etc but be prepared to have deep pockets with last options.
Click to expand...

Wow I was not ready to this answer. So I will try to find this papers maybe it is not as complicated as it seems.
Thanks for your time anyway

 

[Tr0nad0r]

You can try with Nexpay also:

https://paynexpay.com/
Expect to be asked to provide the same documents or similar documents as well.

 

[Cocopops]

Tr0nad0r said:
You can try with Nexpay also:

https://paynexpay.com/
Expect to be asked to provide the same documents or similar documents as well.
Click to expand...

Thanks I will also try it

 

[Cocopops]

So in the end it was not that complicated to collect all the papers that bankera asked me I am a bit administrativephobic 😀

But now they ask me for an application fee of 900 euros without being sure to be accepted, in fact they can refuse me and keep the money, paying 900 euros to be refused would be annoying..

If some have gone through the same bank, if all the papers are ok, do you think I have a good chance of succeeding in this application?

 

[AlbanyJames]

time to roll the dice and see, buddy! lol and good luck.

 

[Martin Everson]

Cocopops said:
If some have gone through the same bank, if all the papers are ok, do you think I have a good chance of succeeding in this application?
Click to expand...

Look at Trustpilot

https://www.trustpilot.com/review/bankera.com?stars=1

If your not willing to lose 900 big ones then walk away.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Silvio]

Martin Everson said:
Look at Trustpilot

https://www.trustpilot.com/review/bankera.com?stars=1

If your not willing to lose 900 big ones then walk away.
Click to expand...

If your only option is using a Lithuanian EMI, you're either extremely high risk and making huge margins, or you need to reconsider your structure.

 

[Tr0nad0r]

You might want to check Intergiro as well, I have asked about similar activities and they were open to the idea.

https://intergiro.com/
They might ask you for an account opening fee (around €200 according to the person I talked with) but only after account approval.

Nexpay has a one-time fee of €750 for account opening but only after the approval so you won't lose money if you get rejected.

 

[Cocopops]

Martin Everson said:
Look at Trustpilot

https://www.trustpilot.com/review/bankera.com?stars=1

If your not willing to lose 900 big ones then walk away.
Click to expand...

maxmmm said:
If your only option is using a Lithuanian EMI, you're either extremely high risk and making huge margins, or you need to reconsider your structure.
Click to expand...

You guys sound right, unfortunately I dont have many solutions at the moment. But yeah bankera will not be the solution for me, will continue my research.

 

[Cocopops]

Tr0nad0r said:
You might want to check Intergiro as well, I have asked about similar activities and they were open to the idea.

https://intergiro.com/
They might ask you for an account opening fee (around €200 according to the person I talked with) but only after account approval.

Nexpay has a one-time fee of €750 for account opening but only after the approval so you won't lose money if you get rejected.
Click to expand...

Thanks, for your advice
Did you try to transfer from kraken or binance to intergiro?

 

[Tr0nad0r]

Cocopops said:
Thanks, for your advice
Did you try to transfer from kraken or binance to intergiro?
Click to expand...

Binance doesn't support SEPA anymore.

I've used Kraken successfully with Nexpay, I haven't finished the process with Intergiro since Nexpay has worked so far but they mentioned that they are fine with withdrawals from regulated crypto exchanges (e.g Kraken, Bitstamp, Coinbase, ...).

 

[Cocopops]

Tr0nad0r said:
Binance doesn't support SEPA anymore.

I've used Kraken successfully with Nexpay, I haven't finished the process with Intergiro since Nexpay has worked so far but they mentioned that they are fine with withdrawals from regulated crypto exchanges (e.g Kraken, Bitstamp, Coinbase, ...).
Click to expand...

Ok, what would you do if you had funds on binance?
Binance > Kraken > Nexpay ?

 

[Gediminas]

In case you need help with Intergiro, happy to help you guys!

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https://locked.money - Your Crypto Management Company, Ready in Days ”“ Trade, Invoice, $1,200/Year!

 

[Cocopops]

Guys, I just got accepted by Intergiro, the process wasn't that bad after all.
I will open another account with a non-EMI crypto bank when I can, but I will start paying my company with intergiro.

I will start by paying myself 2K / month as I told intergiro. Do you think after 3 months of paying me 2K I might try to increase my payments (4-5k per month) or it's too risky and they might close my account?

Also my trading activities are on binance, so I sent them my historical transaction from binance, but unfortunately binance no longer supports SEPA, I will have to go through another crypto broker. Do you have any advice on this point, which courtier (kraken, coinbase ..?) And intergiro can refuse payment because it is not the same courtier that I indicated to them?