Bankera has gone totally crazy

[mrau]

Marshal said:
The fact that @Gediminas is ignoring him is certainly doing more harm than good to their reputation. There are always two sides to every story, but I would definitely think twice before dealing with Bankera now.
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I'd love to hear what's their side of the story to request such IMMENSE amount of sensitive information and paperwork for a customer:

- From a low risk country fully compliant with FATF
- Submitted EU and home country bank accounts statements, Tax returns and Tax registration.
- In a >2 years time span only received or sent 2 transfers <2€ to/from an own account
- Never sent or received from third parties or crypto exchanges
- Stated (in the KYC form) that its maximum expected ANNUAL turnout is <10.000€ (€830/month AT MOST)

I'd be really interesting to know what's their rationale

 

[John Spectre]

mrau said:
I'd love to hear what's their side of the story to request such IMMENSE amount of sensitive information and paperwork for a customer:
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Could you name at least ONE financial institution in the world who will openly disclose to public reason why they act at such way?

They might be too sensitive on you or even do something not user tolerant. But what you are required from them is beyond traditional relationship with FI.
And I really don't know why you are so stick to them.
In the world a lot of EMI who accept non EU residents.
When one or another going from market, drop you as a client, etc it's a for sure not a reason to make a noise. Just apply with another one and be happy.

 

[mrau]

John Spectre said:
Could you name at least ONE financial institution in the world who will openly disclose to public reason why they act at such way?
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What I wrote was rethoric. An utopic hope. Obviously I'm not really expecting Bankera explain in public why they act so irrationally

John Spectre said:
In the world a lot of EMI who accept non EU residents.
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Well, It's actually quite the opposite. The very few that accept non EU residents, 90% are from Puerto Rico and we all know what it means. They can pull the rug anytime and run away with zero consequences. Then you have the Swiss Dukascopy with ridiculous fees and meager limits and "adventures" like the Lithuanian Swissmoney with dubious reputation....

John Spectre said:
And I really don't know why you are so stick to them.
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I don't. As you can see I never really used them (unless you think a €3 tryout is a real use) . I have accounts in others EU institutions (not crypto friendly) and I do quite fine with them. I'm just outraged with the Bankera approach to my case and I'm using the forum for catharsis.

 

[John Spectre]

mrau said:
Well, It's actually quite the opposite
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As a non eu resident I could assure that your assumption is wrong.
I am actively use different EMI from the time of CRS coming to our world and traditional banks closed down doors for non residents account.
For almost decade I never had a problem with it, holding around 5 +- active accounts with different FI at same time.

Also I know few that will verify and open account for non eu clients faster than you write message here. So permanently complaining to bankera is super counterproductive.
Single problem could arise from your exact country, I don't know, maybe it considered like a trash.

 

[jafo]

mrau said:
I'm not really expecting Bankera explain in public why they act so irrationally
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From my experience with these bank psychopaths ... I would bet the farm they ALSO have NO idea why they behave in such an irrational manner! I think it's arrogance, but f*ck them! Let them starve!dev56"""

mrau said:
Well, It's actually quite the opposite. The very few that accept non EU residents, 90% are from Puerto Rico and we all know what it means. They can pull the rug anytime and run away with zero consequences. Then you have the Swiss Dukascopy with ridiculous fees and meager limits and "adventures" like the Lithuanian Swissmoney with dubious reputation....
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Won't Swissquote, Interactive Brokers, Mercury, or Klarpay onboard you?
BTW are you looking for personal accounts or corporate accounts?

mrau said:
I'm just outraged with the Bankera approach to my case and I'm using the forum for catharsis.
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As you should! 😉
Too many people suffer from (or enjoy?) the Stockholm Syndrome. Props to you for rejecting being subjugated and humiliated!
Without us, banks, EMIs, etc, would be useless! We bring money to them! We take loans from them! The bank/EMIs would NOT exist without customers!
We should NEVER aid, abet, support, tolerate, turn a blind eye to, reward, compensate, or empower toxic behavior or toxic people!
That BS the bank spews about "the government made us do it/we were just following orders/the Nuremberg defense/Befehl ist Befehl" didn't hold up during the Nuremberg trials, and it won't hold up in the future either!
Good on you to call them out on their toxic behavior! 😎

It's excellent you are warning others. I, for one, appreciate it.

Thank you very much for sharing your experience! thu&¤#

 

[mrau]

John Spectre said:
For almost decade I never had a problem with it, holding around 5 +- active accounts with different FI at same time.
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I already previously congratulated you for being such a lucky person.
As I detailed in previous posts, I also held bank accounts outside my home country for over 10 years and never been dropped (not even in this case of Bankera in which they did't dropped me but just refused to increase the verification level)

John Spectre said:
Also I know few that will verify and open account for non eu clients faster than you write message here.
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I would be great you name the countries in which those alternatives are based

John Spectre said:
Single problem could arise from your exact country, I don't know, maybe it considered like a trash.
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Also as mentioned before I don't think so as it's a low risk country, fully compliant with FATF, of course no sanctions and with great diplomatic relationship with the US and the EU.

jafo said:
From my experience with these bank psychopaths ... I would bet the farm they ALSO have NO idea why they behave in such an irrational manner! I think it's arrogance, but f*ck them! Let them starve!dev56"""
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I can't deny that it felt really weird to receive such intrusive and disproportionate requests the day after I fulfilled their request (out of nowhere) to re do the same verification process I had done 2 years before.

jafo said:
Won't Swissquote, Interactive Brokers, Mercury, or Klarpay onboard you?
BTW are you looking for personal accounts or corporate accounts?
Click to expand...

Yes, I have account in SQ. I haven't tried Klarpay (never have heard of them but it seems they are oriented to digital businesses/companies). As for IB I think they are a only a stock broker with no banking capabilities (and thus don´t provide a unique account number but a pooled one). Mercury just onboard US companies I think (no personal accounts as I'm looking for)

jafo said:
Good on you to call them out on their toxic behavior! 😎

It's excellent you are warning others. I, for one, appreciate it.

Thank you very much for sharing your experience! thu&¤#
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Thanks for you words and support! thu&¤#thu&¤#

Last edited: Mar 20, 2024

 

[clemens]

Marshal said:
Maybe, I'm just stating what the guy wrote here.
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Gediminas said:
Your fact is false.
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He does not represent Bankera, but has been able to help exclusively when people have found themselves in difficult situations or have otherwise encountered problems.

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One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity

 

[John Spectre]

mrau said:
I would be great you name the countries in which those alternatives are based
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Poland, Spain, UK, Lithuania, Switzerland.
It's if we even forget to some like Wise or Advcash, location of which are changed time to time or shady.
However I don't know why you even need name of countries where they are based.
You as a client have number of requirements, like a crypto tolerance, access to sepa or swift, issuing payment cards etc.
And EMI is allowed to do one or another operation or no. Almost no difference which country they use for legal entity, license etc

 

[Marshal]

clemens said:
He does not represent Bankera
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I'm aware of it lol

 

[drphantom]

No figuring out what is wrong with Bankera and the payouts and why they don't want to pay anything ?

 

[mrau]

drphantom said:
No figuring out what is wrong with Bankera and the payouts and why they don't want to pay anything ?
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Well, that was not my case. They never blocked my account or any of my meager transactions (less than €2 each).
They just never re-verified my account.
I was in level 3 and been downgraded to level 2 of verification so the account is really limited (I think €1000 per year)

 

[Simon4466]

In all honesty, they likely felt you weren't using their service enough and thought about this way to basically bully you into closing your account. They likely pay account fees to their BaaS (banking as a service) provider and KYC fees that are higher as they advertise on places like this forum 😉. I definitely do think it is a scummy way to do business if so, but there's little you can do.

 

[cyprusbanker]

mrau said:
Well, that was not my case. They never blocked my account or any of my meager transactions (less than €2 each).
They just never re-verified my account.
I was in level 3 and been downgraded to level 2 of verification so the account is really limited (I think €1000 per year)
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and you wonder why they didn't re verified you ?

 

[mrau]

cyprusbanker said:
and you wonder why they didn't re verified you ?
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Well.... if they don't want low turnout customers they should levy a threshold and/or a monthly fee instead of requesting the DNA certificate of my great-great-great grandfather.
Besides, how am I supposed to increase my transactions volume if as soon as I move €3 they want me to share a blood test of who I sleep with every night.
Irrational from every point of view.

 

[JohnLocke]

I'm sure you've had a rough time with them, but still, I gotta say, if this whole thread is about you having 3€ in your account and that's causing issues, then I reckon you're wasting your time and should just find a better bank. There's plenty of them out there.

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[mrau]

JohnLocke said:
I'm sure you've had a rough time with them, but still, I gotta say, if this whole thread is about you having 3€ in your account and that's causing issues, then I reckon you're wasting your time and should just find a better bank. There's plenty of them out there.
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As I explained a few times before in this thread, obviously my plan was not use bankera with just €3. Those were part of my two test transfers (1 IN / 1 OUT) to see how the platform performed.
The intended turnout was about ~€8000 per year (as I stated in their KYC forms).
However, all the obnoxious issues started after moving that insignificant amount and after that it just didn't feel safe to transfer any more money to them.

 

[jafo]

Simon4466 said:
In all honesty, they likely felt you weren't using their service enough and thought about this way to basically bully you into closing your account. They likely pay account fees to their BaaS (banking as a service) provider and KYC fees that are higher as they advertise on places like this forum 😉. I definitely do think it is a scummy way to do business if so, but there's little you can do.
Click to expand...

mrau said:
As I explained a few times before in this thread, obviously my plan was not use bankera with just €3. Those were part of my two test transfers (1 IN / 1 OUT) to see how the platform performed.
The intended turnout was about ~€8000 per year (as I stated in their KYC forms).
However, all the obnoxious issues started after moving that insignificant amount and after that it just didn't feel safe to transfer any more money to them.
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OP, @Simon4466 gave you the most plausible answer. Is it wrong for their business? Sure, because people like me will be cautious with them and won't give them much of a chance. Some of us will lay down the law to them BEFORE engaging, making sure that they understand their answers and assurances will end up before a judge and their regulators. Will they heed the warning? Probably not! Dumb people are like that! They are unaware of the dangers they face.

Don't believe me? Some people are just unaware of their own stupidity & absurdities, especially bank monkeys: 😳

 

[Sean Restling]

I have also just been asked to re-verify my account, which sounds a bit weird since I'm a EU citizen, provided all the docs including my TIN over three years ago..

 

[Forester]

Sean Restling said:
I have also just been asked to re-verify my account, which sounds a bit weird since I'm a EU citizen, provided all the docs including my TIN over three years ago..
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Well, it seems like a standard re-KYC that you can “enjoy” anywhere now...

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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...

 

[Sean Restling]

Forester said:
Well, it seems like a standard re-KYC that you can “enjoy” anywhere now...
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Not necessarily, I think they're milking users for new revenue streams. Almost all my transactions are for personal reasons, which is why I opened a personal account, now they say in my transaction history they can see transactions that could be business-related (it might, we're talking 1% in terms of value and transactions really), and ask whether I want to continue the verification with the personal account or convert into a business account at €5/month. It's not realy about the €5 but I'm using this to buy groceris, cinema tickets, petrol, pubs.. all non business related, why would I reply I want it to convert this into a business account?