Bank account in EU for cashing out from Binance

[skyper]

Hey Guys,

I am looking for a Bank in a European place (easy to drive by car from italy) where I can cashout from Binance. I have tried a lot of solutions e.g. top-tier Swiss banks, private banks etc.

All of these have replied that they do not accept money from Exchage and to turn to elsewhere.

I am currently waiting for Seba Bank's and Sygnum KYC but it is taking over 2 months. Do any of you know of a bank that can handle this request? Cryptocurrencies are fully tracked and there are no suspicious transactions.
My residence is Italian and I cannot send amounts of this type to the bank in my country because suspicious transaction reports would be activated which would imply a tax audit by the financial police which I want to avoid. All the earnings from trading will be declared and the taxation will be payed.

The main problem that pushes me to open a foreign account is the accusation that is made automatically of money laundry and that the Italian system requires that the accused be the one to prove his innocence.

Any ideas? Thankyou.

Last edited: May 23, 2022

 

[JohnnyDoe]

skyper said:
Hey Guys,

I am looking for a Bank in a European place (easy to drive by car from italy) where I can cashout from Binance. I have tried a lot of solutions e.g. top-tier Swiss banks, private banks etc.

All of these have replied that they do not accept money from Exchage and to turn to elsewhere.

I am currently waiting for Seba Bank's and Sygnum KYC but it is taking over 2 months. Do any of you know of a bank that can handle this request? Cryptocurrencies are fully tracked and there are no suspicious transactions.
My residence is Italian and I cannot send amounts of this type to the bank in my country because suspicious transaction reports would be activated which would imply a tax audit by the financial police which I want to avoid. All the earnings from trading will be declared and the taxation will be payed.

The main problem that pushes me to open a foreign account is the accusation that is made automatically of money laundry and that the Italian system requires that the accused be the one to prove his innocence.

Any ideas? Thankyou.
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Try p2p

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[skyper]

JohnnyDoe said:
Try p2p
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what you mean? please explain me deeper. thanks.

 

[JohnnyDoe]

skyper said:
what you mean?
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Peer to peer transactions, without going through an exchange

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[skyper]

JohnnyDoe said:
Peer to peer transactions, without going through an exchange
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Oh get it... i can't do for my amount.

 

[JohnnyDoe]

skyper said:
Oh get it... i can't do for my amount.
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Too small or too big?

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[skyper]

JohnnyDoe said:
Too small or too big?
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Too big, definitely. I need a bank -> sepa -> RW -> 26% -> can use the money

 

[JohnnyDoe]

skyper said:
Too big, definitely. I need a bank -> sepa -> RW -> 26% -> can use the money
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There are no obstacles to selling crypto p2p

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[skyper]

JohnnyDoe said:
There are no obstacles to selling crypto p2p
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+500k its quite impossibile to handle! If you have any idea msg me

 

[JackAlabama]

skyper said:
+500k its quite impossibile to handle! If you have any idea msg me
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Proceed in smaller amounts then. DCA out is anyway the smarter way. Or park in USDT in the meantime if you fear a meltdown to 0.

 

[skyper]

JackAlabama said:
Proceed in smaller amounts then. DCA out is anyway the smarter way. Or park in USDT in the meantime if you fear a meltdown to 0.
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The problem is the bank will not accept any bank transfer from exchanges. I dont fear meltdown only need to spend money.

 

[JackAlabama]

skyper said:
The problem is the bank will not accept any bank transfer from exchanges. I dont fear meltdown only need to spend money.
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p2p in smaller amounts as one member said. Or use p2p cash. Or OTC is also option. Or use Bitcoin ATMs in your country or take a trip to some neighbors.

https://coinatmradar.com/bitcoin_atm/10875/bitcoin-atm-shitcoins-club-milan-punto-atm-bitcoin/

 

[Elve]

Suggestion, use the Binance visa card.

 

[uplana]

JackAlabama said:
p2p in smaller amounts as one member said. Or use p2p cash. Or OTC is also option. Or use Bitcoin ATMs in your country or take a trip to some neighbors.

https://coinatmradar.com/bitcoin_atm/10875/bitcoin-atm-shitcoins-club-milan-punto-atm-bitcoin/
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That may be your best option... smaller amounts over time.

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[wellington]

skyper said:
The main problem that pushes me to open a foreign account is the accusation that is made automatically of money laundry and that the Italian system requires that the accused be the one to prove his innocence.
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Surely bringing the funds into Italy later would result in the same, but also open questions on why you didn't do direct?

 

[skyper]

wellington said:
Surely bringing the funds into Italy later would result in the same, but also open questions on why you didn't do direct?
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If you do direct the bank will report suspicious operation because the bank transfer will be from Binance otherwise if you bridge from a foreign bank the bank transfer is from an account with your name.

 

[JohnnyDoe]

You have plenty of options, just choose one or do nothing and keep complaining.

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[skyper]

JohnnyDoe said:
You have plenty of options, just choose one or do nothing and keep complaining.
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yep sure, i've just answered to the question 🙂

 

[uplana]

What's your problem - Binance -> EMI (Bankera, Mister Tango, Wise and more) -> your bank account.

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[MiddleEuroAsia]

uplana said:
What's your problem - Binance -> EMI (Bankera, Mister Tango, Wise and more) -> your bank account.
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Binance + advcash + union card are the best combo in existence (minus the p2p/otc transactions)