How do i justify outgoing transfers ? @[eCommerce]

[FULLVVS]

Hello,

My eCommerce company has a business account and receives incoming transfers from other companies. When the bank requests justification for its transfers. It's easy to provide them with the appropriate documentation

However i also do a lot of outgoing transfers. Amounts ranging from 1,000 € to 4,000 € for several different recipients located in different countries

What type of documentation would be appropriate to justify an eCommerce company making this type of transfer to various individuals across Europe ?

Last edited by a moderator: Oct 27, 2024

 

[diatessaron]

1k to 4k isn't going to trigger the banks system or flag your account. Why are you sending money to these individuals? Are they your employees? If they are you need to have signed contracts with them, these are usually enough for the bank.

If you don't mind, let me know which bank this is. You can reply here or PM it to me.

 

[Forester]

diatessaron said:
1k to 4k isn't going to trigger the banks system or flag your account.
Click to expand...

With all due respect, I cannot agree 🙂 (I guess, @diatessaron, that you are well aware that even a 3 figures transaction can cause the account being blocked.)
It all depends on circumstances, really.

diatessaron said:
Why are you sending money to these individuals?
Click to expand...

This is the key question. Unless knowing that, it's impossible to give you, @FULLVVS, any reasonably founded advice.

diatessaron said:
Are they your employees? If they are you need to have signed contracts with them, these are usually enough for the bank.
Click to expand...

This is true.

diatessaron said:
If you don't mind, let me know which bank this is. You can reply here or PM it to me.
Click to expand...

It can depend on the bank, naturally; but the reason for payment is the crucial point. In my deep opinion.

Toggle signature
--------------------------------------------------------------------------------------------------------------------------------------

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...

 

[FULLVVS]

Thank you for your answers!

Banks are vicious. They can suddenly block your account and ask you to justify all your outgoing transfers....

Imagine that the bank asks me to justify my 30 outgoing transfers sent to different recipients each time

If you have a creative idea to justify this type of operation. Send me your crypto address 😉

A creative mind seems to be the key to my problem

 

[JohnLocke]

You should take this to the Mentor Group Gold instead of the public forums. Your offer to have people send you their crypto addresses so you can pay them for advice goes against forum rules, as it could lead to confusion and issues that moderators would then have to sort out.

This thread is now closed!

Toggle signature

>> Unlock the Power of OffshoreCorpTalk: Become a Member of the Mentor Group Gold <<​

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

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.​