Monese and tax reporting

[Sephiroth]

Hello, I opened a Monese account in May.
I had about 4-5 transfers per month with a total of 3000 euros during 1 year (not so much). They closed my account , because I didn't provide them tax documents, I told them
those are transfers from friends .
Do they usually just close your account or they also send a notification to the tax agency of your country ? (In Europe)

 

[JohnLocke]

Sephiroth said:
Do they usually just close your account or they also send a notification to the tax agency of your country ? (In Europe)
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They have to close or at least lock your account if your don't provide such documents, that's the real world we live in now 2024! If they report, I believe they will report it. If your tax office will pick it up if it is indeed only 3000 euro, I don't know. But since it isn't more, I would declare it and call it a day.

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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[Sols]

They might have grounds to submit a SAR. But they might just decide to close the account, without filing a SAR.

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This is the probably the answer to your question.

 

[Sean Restling]

Why would they issue a suspicious activity report for 3 grand?

 

[0xDEADBEEF]

Sean Restling said:
Why would they issue a suspicious activity report for 3 grand?
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Why does a bully want your lunch money?

In the Netherlands these reports can and will be filed for transactions exceeding 2k.

 

[SoNewToAllShit]

They do the same in Sweden and Denmark can I confirm where I have relatives troubling with such reported stuff and their beloved tax man.