Canadian bank closing accounts

[berseker]

jafo said:
It's some low IQ frustrated bank monkey(s)!
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I wish it was that simple. But no, the low "IQ monkey" is an algo of risk dept that flagged the account, gone are the days that there is an actual human making the decision and even then they go with whatever the algo told them. And not just institutional banks even your run of the mil EMI is doing the same thing. albeit their have bigger tolerance.

 

[jafo]

berseker said:
I wish it was that simple. But no, the low "IQ monkey" is an algo of risk dept that flagged the account, gone are the days that there is an actual human making the decision and even then they go with whatever the algo told them. And not just institutional banks even your run of the mil EMI is doing the same thing. albeit their have bigger tolerance.
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It's the low-IQ monkey who programmed that! The system didn't program itself.

Last edited: Apr 9, 2024

 

[cashking]

daniels27 said:
Just use TD I am sending millions there over and over again for years and the company still has the same account number.
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TD are the ones that closed my account

 

[daniels27]

It is very, very strange. I think you should open the account and then use this account to pay for Mentor Gold. Why? Because those bank account closed for "no reason" only happens to new members here. It really rarely happens to long-term members here.

 

[wellington]

Have you noticed how during the fastest tightening period in history where the largest banks are making an absolute killing they've reduced their risk portfolio - when those rates come back down suspect the risk sensor will be reduced

daniels27 said:
It is very, very strange. I think you should open the account and then use this account to pay for Mentor Gold. Why? Because those bank account closed for "no reason" only happens to new members here. It really rarely happens to long-term members here.
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Pay with crypto

 

[JackieTsan]

jafo said:
This has saved my business, sped up transactions, and then taken my trading to a whole new level I NEVER thought possible. Furthermore, it has bulletproofed me against bank monkeys and their parasitic regulatory capture.
It's been an absolute lifesaver! 😎
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What do you mean by stable coin? Get paid in crypto? Thank you

 

[treasureinyou]

You can use Wise as an emi lnked to a Canadian business bank account.

Keep in mind any wire at or above 1o is automatically sent to fintrac

 

[jafo]

macthaiver said:
What do you mean by stable coin?
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These are some of them:
USDâ‚®, EURâ‚®, CNHâ‚® , USDC, DAI, FDUSD, TUSD etc.

macthaiver said:
Get paid in crypto?
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Yes! 100% yes! Circumvent banks and "trusted third parties" by ANY means necessary! [en usant de tous les moyens]

The polymath was VERY clear and direct in his mathematical diatribe:

The coup de grâce is highlighted in yellow. 😉

 

[JohnLocke]

berseker said:
I wish it was that simple. But no, the low "IQ monkey" is an algo of risk dept that flagged the account, gone are the days that there is an actual human making the decision and even then they go with whatever the algo told them. And not just institutional banks even your run of the mil EMI is doing the same thing. albeit their have bigger tolerance.
Click to expand...

yeah explained it exactly as it is. You can't blame the monkey at the counter for the decision that was made to close your account. Banks are getting more strict because of AML and many other compliance regulations.

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[uranium]

Alexmorgan said:
If you have legit business and record of invoices and contracts then your problem is Dubai
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Something is missing here
So every resident of Canada who runs a big business and making millions get account closed makes no sense
And banks don't close account without asking for documents and contracts
Btw what is wrong with dubai?
It is not on grey list anymore

 

[daniels27]

uranium said:
Something is missing here
So every resident of Canada who runs a big business and making millions get account closed makes no sense
And banks don't close account without asking for documents and contracts
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Yes, as mentioned earlier, they won't just close for any normal business. It only happens if you have strange transactions that on top of that you cannot explain.

 

[Alexmorgan]

uranium said:
Something is missing here
So every resident of Canada who runs a big business and making millions get account closed makes no sense
And banks don't close account without asking for documents and contracts
Btw what is wrong with dubai?
It is not on grey list anymore
Click to expand...

Yes, Dubai out of Grey list but still banks are afraid of dealing with it they need time for their monkey's and their AI's to adapt to it

And i know big companies thats works with Billions and got their accounts closed specially with JP Morgan

 

[uranium]

Alexmorgan said:
Yes, Dubai out of Grey list but still banks are afraid of dealing with it they need time for their monkey's and their AI's to adapt to it

And i know big companies thats works with Billions and got their accounts closed specially with JP Morgan
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Their system is not updated yet
Give it a few months and all will be fine.

 

[pixbix]

cashking said:
I do a lot of transactions and need a bank that doesnt close if there's too many of them.


Good to know. But is there a country where they are more lenient with wires/transfers. Because canadian accounts gets close for barely no reason
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is your bank account personal or business? because i knew a some guys from US having this problem , and the banks told them to open a business account if they want to do business....they were selling on ebay, and on their websites

 

[Wildfire57]

Hi. New to the forum. But also Canadian. Can confirm that banks in Canada do close accounts all the time with no warning. It's usually due to high risk/suspicious transactions. It happens with both personal and business.

https://www.ctvnews.ca/mobile/canad...ts-1.3961904?referrer=https://www.google.com/

 

[f2kmtl]

use getloop.ca

 

[clemens]

https://www.bankonloop.com/
they are a Wise clone?

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

 

[berseker]

f2kmtl said:
use getloop.ca
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do they accept international clients ?

 

[jafo]

berseker said:
do they accept international clients ?
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No! I asked! They answered. I got their email, and they explicitly said "NO."