Where would you transfer your bank money to?

[kokolokop]

Hey,

as things are getting scary around the world, lot of people are moving out their money out of the banks. Where would you suggest it to move it to?

Im looking for non-crypto platforms where I could keep the cash in different currencies.

What platforms and currency would you recommend to keep your money with? What are the safe places in times of the global crisis.

I would be grateful for any advice.

Thanks

 

[Golden Fleece]

kokolokop said:
Hey,

as things are getting scary around the world, lot of people are moving out their money out of the banks. Where would you suggest it to move it to?

Im looking for non-crypto platforms where I could keep the cash in different currencies.

What platforms and currency would you recommend to keep your money with? What are the safe places in times of the global crisis.

I would be grateful for any advice.

Thanks
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You want to park your money in traditionally safe jurisdictions with a well-established rule of law. Places such as Switzerland, Liechtenstein, Austria, Singapore, and the Cayman Islands come to mind. You will pay for the privilege with high deposit amounts, KYC rules, low interest rates, etc. There are always tradeoffs. All of those jurisdictions also have companies where you can store gold and silver in secure private vaults.

 

[kokolokop]

Golden Fleece said:
You want to park your money in traditionally safe jurisdictions with a well-established rule of law. Places such as Switzerland, Liechtenstein, Austria, Singapore, and the Cayman Islands come to mind. You will pay for the privilege with high deposit amounts, KYC rules, low interest rates, etc. There are always tradeoffs. All of those jurisdictions also have companies where you can store gold and silver in secure private vaults.
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can you share any specific banks with the easiest KYC?

 

[Golden Fleece]

kokolokop said:
can you share any specific banks with the easiest KYC?
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It will be very fact-specific based on your citizenship, residence, risk profile, deposit amount, and many other factors.

 

[Marzio]

kokolokop said:
can you share any specific banks with the easiest KYC?
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Credit Suisse for sure!

 

[Martin Everson]

kokolokop said:
as things are getting scary around the world, lot of people are moving out their money out of the banks. Where would you suggest it to move it to?
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Non-bank assets is the way to go. Those who live in developing countries always run risk of country being sanctioned or being blacklisted on any given day sadly. So buy farm land, building land or income producing real estate outside your home country.

kokolokop said:
What platforms and currency would you recommend to keep your money with? What are the safe places in times of the global crisis.
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There is no platform that is safe in a real crisis. You can only spread your money around if you want to stay in cash and stay below the deposit protection figure of the bank (100k per a bank in EU banks). You can also buy AAA rated treasury bonds that now yield nothing or have a negative yield if you have money above the deposit protection figure.

However with inflation happening and potential rate rises on the horizon you may well want to put money into assets that will benefit from inflation. You can search online for such assets.

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

 

[Member]

kokolokop said:
as things are getting scary around the world, lot of people are moving out their money out of the banks. Where would you suggest it to move it to?
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Why would you want to hand over your wealth to someone else when you can be in command of it without them consuming it every year?

Get a Ledger Nano and enjoy self-sovereignty.

 

[JohnnyDoe]

marzio said:
Credit Suisse for sure!
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Funny thing is that if you are not a serious criminal they will not accept you!

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