you need to make them money, they dont want to be used like a cheap toilet to offload your dump. 😉
Personal bank account Singapore
- Thread starter Mike Forman
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yes, yes. I fully intend to let them share in the "spoils", invest via them in ETFs, bonds and the whole jazz so that they make a reasonable amount in fee income. So, to come back to the original question... would a priority relationship with an RM etc. then allow this off ramp? I wish somebody with actual experience with SCB SG would advise
I am pretty sure nobody is interested in dealing with an ordeal of compliance risks while serving questionable characters. They want to deal with companies that do the compliance themselves. No bank is interested in having clients that then later turn out to having been involved in criminal activities that they laundered their bitcoins.
There is no definite answer on that. It depends on you character, nationally etc. whether your manager will think that your coins are dirty or not.
So Kraken and Coinbase are top tier exchanges that do all their due diligence on clients seeking all sorts of Proof of source of funds, source of wealth etc. Hence, safe to conclude that they deal with above board clientele and have enough tools to reject "laundering" dirty crypto via them. Swiss banks accept fiat withdrawals from them, so why would a self confessed crypto friendly bank such as Standard Chartered have an issue? I just wanted to hear from somebody banking in Singapore (would be great if it is actually with SCB SG) as to what the overall experience is like. More like a first hand account than hearsay and assumptions...
I have experiences with SC SG. Regardless of they are not against crypto in general, nobody can answer your question without knowledge of your personal profile ”“ SoF, residence and citizenship etc.; and the only really valid answer can come from your SC SG banker only.
I do not say that it is impossible to do what you like to do; just that any such client case is handled individually.
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂
If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
True.
No, it is not safe. Any bank is obliged to perform their own due diligence and they are responsible for the result. Previous relationships can help you but that's all.
Not all Swiss banks and not for any client.
See above.
I do not say that it is impossible to do what you like to do; just that any such client case is handled individually.
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂
If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
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