Banking Solution w/ Masking

[Zenostar]

Hi Folks-
(apologies if this is posted in the wrong section. I wanted to post in the questions forum but that section didn't show up as a possible option. If another section is more appropriate, please move)
In the imminent future (as soon as I get this figured out really), I'd like to make either 1 $10,000 international purchase or several lesser purchases (but ideally just 1 to avoid FX fees). In order to make this level of purchase with the merchant, they require a bank that has a routing & account number for transfers. I am a native US resident, I have a passport, license and several bank accounts. I also have a small business (if that helps with the following). I need some form of purchase masking, in that, I don't want the merchant to have my name specifically. Would prefer a "John Doe" type pseudonym for purchasing.

• Privacy.com The KYC is just overtly invasive, providing my social, access to my bank account for funding, my id, a photo of me holding my id... I just can't, I could. But I won't.
• Blur/Abine/Ironvest While I'm not sure the KYC is any better/worse, they don't allow for international purchases over $1,000.
• Most other solutions have been knocked out as they don't provide any form of masking my identity from the merchant. If my name is James and I sign up for idk CapitalOne, and I take their virtual card and go to make the purchase, I'd imagine red flags would come up when I enter John Doe on the order form, or the payment would just flat out fail. From what I read I'm not looking for a virtual card but a masked card - one that allows you to use another name for the purchase.

I seem to keep stumping around without finding a solution. Appreciate any input.
Thanks!

 

[aniglo22]

Maybe you could open a new Mexico LLC with an corporate bank account and use it for the purchasing. And also use an dba

 

[daniels27]

I think there are many ways to help. Can you please specify what payment methods are accepted?

• Debit card
• ACH
• Wire to US bank
• International wire to non-US bank
• etc.

Also what currency does the seller need and where is he based?

You could for example use Tremendous debit cards with random names
https://www.tremendous.com/pricing/

 

[Zenostar]

aniglo22 said:
Maybe you could open a new Mexico LLC with an corporate bank account and use it for the purchasing. And also use an dba
Click to expand...

Good idea - my only issue with this is, if the merchant ever really looked into my transaction, they could find who the DBA is registered too. And it also comes with the continual admin+fees of opening and maintaining a DBA/LLC. Viewing this mostly as a last resort.

daniels27 said:
I think there are many ways to help. Can you please specify what payment methods are accepted?

• Debit card
• ACH
• Wire to US bank
• International wire to non-US bank
• etc.

Also what currency does the seller need and where is he based?

You could for example use Tremendous debit cards with random names
https://www.tremendous.com/pricing/
Click to expand...

The merchant accepts debit/credit, crpyto or bank wires. The bank wire would be international for me (Im US, they're EU). I believe seller uses SEK but their payment portal handles conversion.
Will look into Tremendous - but from a quick glance, it doesn't seem to solve the banking side of it, only the payment side.

 

[aniglo22]

Zenostar said:
Good idea - my only issue with this is, if the merchant ever really looked into my transaction, they could find who the DBA is registered too. And it also comes with the continual admin+fees of opening and maintaining a DBA/LLC. Viewing this mostly as a last resort.


The merchant accepts debit/credit, crpyto or bank wires. The bank wire would be international for me (Im US, they're EU). I believe seller uses SEK but their payment portal handles conversion.
Will look into Tremendous - but from a quick glance, it doesn't seem to solve the banking side of it, only the payment side.
Click to expand...

Yeah then use a P2P exchange or normal Exchange for crypto and pay with it .

 

[daniels27]

Zenostar said:
Good idea - my only issue with this is, if the merchant ever really looked into my transaction, they could find who the DBA is registered too. And it also comes with the continual admin+fees of opening and maintaining a DBA/LLC. Viewing this mostly as a last resort.


The merchant accepts debit/credit, crpyto or bank wires. The bank wire would be international for me (Im US, they're EU). I believe seller uses SEK but their payment portal handles conversion.
Will look into Tremendous - but from a quick glance, it doesn't seem to solve the banking side of it, only the payment side.
Click to expand...

How about using come EMI? Many EMIs send money from their (or Currency Cloud) account, the guy getting the money won't see your name.

 

[Zenostar]

daniels27 said:
How about using come EMI? Many EMIs send money from their (or Currency Cloud) account, the guy getting the money won't see your name.
Click to expand...

EMI's have been a consideration. Most that I have looked are unavailable for businesses/individuals operating in the US. If you know of one let me know, happy to check it out!

 

[daniels27]

Zenostar said:
EMI's have been a consideration. Most that I have looked are unavailable for businesses/individuals operating in the US. If you know of one let me know, happy to check it out!
Click to expand...

OFX maybe?

 

[Zenostar]

daniels27 said:
OFX maybe?
Click to expand...

Thanks - they have the same KYC as privacy.com. Just not on board with providing that kind of exposure.

"
Assume that you will need the following identifiers on hand at the time of registration:
”“ a government-issued photo ID;
”“ proof of address; and
”“ a webcam or smartphone for a quick video or selfie of you.
"

 

[daniels27]

Ok but you want what exactly? A bank account without KYC? Or a way to pay without disclosing your name to the receiving party?

 

[Zenostar]

daniels27 said:
Ok but you want what exactly? A bank account without KYC? Or a way to pay without disclosing your name to the receiving party?
Click to expand...

The bank can have KYC, just would prefer a less stringent version. I signed up for a schwab account and never had to take a selfie holding my id (granted it was years ago but still).
Most important is being able to make masked purchases, atleast $5000-10000 limit, international, for a US citizen

 

[daniels27]

Zenostar said:
The bank can have KYC, just would prefer a less stringent version. I signed up for a schwab account and never had to take a selfie holding my id (granted it was years ago but still).
Most important is being able to make masked purchases, atleast $5000-10000 limit, international, for a US citizen
Click to expand...

Some years ago I could open bank accounts with a passport scan I found on a public computer in a Chinese hotel alone. It is obvious that the want to ensure you have the original document and that it has your passport. That's why they do not accept scans anymore. You can guess how much fraud there would be.

I recommend checking some EMIs that send in another name. Otherwise you can get a prepaid debit card from Tremendous with any name as I mentioned before.

Also you can use a company or some banks in Hong Kong etc. which offer free local transfers in Sweden etc. where money is sent from their account.

 

[Zenostar]

daniels27 said:
Some years ago I could open bank accounts with a passport scan I found on a public computer in a Chinese hotel alone. It is obvious that the want to ensure you have the original document and that it has your passport. That's why they do not accept scans anymore. You can guess how much fraud there would be.

I recommend checking some EMIs that send in another name. Otherwise you can get a prepaid debit card from Tremendous with any name as I mentioned before.

Also you can use a company or some banks in Hong Kong etc. which offer free local transfers in Sweden etc. where money is sent from their account.
Click to expand...

Appreciate your input - think Tremendous is out as they require W9 verification for anyone that receives $600+. Any suggestions on that hong kong bank that send from their account? Sounds interesting.

 

[clemens]

Zenostar said:
Hi Folks-
(apologies if this is posted in the wrong section. I wanted to post in the questions forum but that section didn't show up as a possible option. If another section is more appropriate, please move)
In the imminent future (as soon as I get this figured out really), I'd like to make either 1 $10,000 international purchase or several lesser purchases (but ideally just 1 to avoid FX fees). In order to make this level of purchase with the merchant, they require a bank that has a routing & account number for transfers. I am a native US resident, I have a passport, license and several bank accounts. I also have a small business (if that helps with the following). I need some form of purchase masking, in that, I don't want the merchant to have my name specifically. Would prefer a "John Doe" type pseudonym for purchasing.

• Privacy.com The KYC is just overtly invasive, providing my social, access to my bank account for funding, my id, a photo of me holding my id... I just can't, I could. But I won't.
• Blur/Abine/Ironvest While I'm not sure the KYC is any better/worse, they don't allow for international purchases over $1,000.
• Most other solutions have been knocked out as they don't provide any form of masking my identity from the merchant. If my name is James and I sign up for idk CapitalOne, and I take their virtual card and go to make the purchase, I'd imagine red flags would come up when I enter John Doe on the order form, or the payment would just flat out fail. From what I read I'm not looking for a virtual card but a masked card - one that allows you to use another name for the purchase.

I seem to keep stumping around without finding a solution. Appreciate any input.
Thanks!
Click to expand...

check inside mentor group and find some useful hints in anonymous forums to get this sorted out quickly.

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[daniels27]

Zenostar said:
Appreciate your input - think Tremendous is out as they require W9 verification for anyone that receives $600+. Any suggestions on that hong kong bank that send from their account? Sounds interesting.
Click to expand...

How about using a W-8 BEN of some random foreigner?

DBS and HSBC both offer this. But please check first what shows up on the receiving side.

 

[jafo]

Zenostar said:
Hi Folks-
(apologies if this is posted in the wrong section. I wanted to post in the questions forum but that section didn't show up as a possible option. If another section is more appropriate, please move)
In the imminent future (as soon as I get this figured out really), I'd like to make either 1 $10,000 international purchase or several lesser purchases (but ideally just 1 to avoid FX fees). In order to make this level of purchase with the merchant, they require a bank that has a routing & account number for transfers. I am a native US resident, I have a passport, license and several bank accounts. I also have a small business (if that helps with the following). I need some form of purchase masking, in that, I don't want the merchant to have my name specifically. Would prefer a "John Doe" type pseudonym for purchasing.

• Privacy.com The KYC is just overtly invasive, providing my social, access to my bank account for funding, my id, a photo of me holding my id... I just can't, I could. But I won't.
• Blur/Abine/Ironvest While I'm not sure the KYC is any better/worse, they don't allow for international purchases over $1,000.
• Most other solutions have been knocked out as they don't provide any form of masking my identity from the merchant. If my name is James and I sign up for idk CapitalOne, and I take their virtual card and go to make the purchase, I'd imagine red flags would come up when I enter John Doe on the order form, or the payment would just flat out fail. From what I read I'm not looking for a virtual card but a masked card - one that allows you to use another name for the purchase.

I seem to keep stumping around without finding a solution. Appreciate any input.
Thanks!
Click to expand...

All this is easily solved with crypto!
Unless it is a life-saving medication, just don't do business with entities that won't accept crypto.

 

[JohnLocke]

Crypto will be they way in the near future, but not useful in an all cases.

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[Forester]

Zenostar said:
Thanks - they have the same KYC as privacy.com. Just not on board with providing that kind of exposure.

"
Assume that you will need the following identifiers on hand at the time of registration:
”“ a government-issued photo ID;
”“ proof of address; and
”“ a webcam or smartphone for a quick video or selfie of you.
"
Click to expand...

Be advised that this is a completely standard KYC for on-line onboarding now.

Zenostar said:
The bank can have KYC, just would prefer a less stringent version. I signed up for a schwab account and never had to take a selfie holding my id (granted it was years ago but still).
Click to expand...

Well, the problem is that it was years ago. In 2024, you will find this nowhere ”“ with some exceptions which are either totally unreliable or really expensive and probably not 100% reliable.

Independently of that, you may want to read this Premium Advertising Partner - Private nominee service - Crypto-friendly debit cards, EMI and bank accounts, company formation.

Zenostar said:
Most important is being able to make masked purchases, atleast $5000-10000 limit, international, for a US citizen
Click to expand...

Well, from my perspective the alternative with a NM LLC is probably the easiest. NM LLC's owners are not publicly searchable, AFAIK. (The new US UBO register is not accessible to some EU merchant, TBMK.)
Of course it has some maintenance costs but
”“ a NM LLC maintenance is IMO not expensive
”“ anonymity is not cheap in general.
And for opening an account with some NM street bank you, as a US citizen and resident, can just go to NM and manage it in person, without selfies or filming; if you do not like to do KYC on-line ”“ local NM banks are still sane, AFAIK.

There definitely are banks and EMIs which send money locally in SE or SEPA area in their name but they will ask you for the on-line KYC you do not want to accept.
Similarly with the reputable exchanges and crypto.

Or, if your intention is just to hide yourself from the merchant for some reasons, you can engage some third party company as a middleman. They will buy it for you and re-sell for some %. It can be either the company of some friend of yours or generally, any company that you can trust. If the stuff that you want to buy is legal and your future intentions are clear, I do not think such a company will be difficult to find.

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If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[Forester]

MyWay said:
You can buy verified accounts registered under different people's names, like a Revolut account not in your name. Then, you can "warm it up" a bit by making a small purchase, like $1, via Apple Pay at a local store. After that, you can start using the account.
Click to expand...

scottfox said:
Can you?
Click to expand...

daniels27 said:
Yes, many people can.
Click to expand...

Well.

A.
Exactly as @ImKing has said

ImKing said:
yeah but this is a temporary solution, accounts get closed quickly.
Click to expand...

B.
Hopefully you are aware that this in not only against the TOS of the financial institution but mostly competely illegal. Make your own conclusions.

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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...

 

[ImKing]

Forester said:
Hopefully you are aware that this in not only against the TOS of the financial institution but mostly competely illegal. Make your own conclusions.
Click to expand...

I'm totally aware of it but that's a different story.

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