Altery

[Sols]

padres123 said:
These are crazy. Three days have always asked for new documents. After long discus (why I don't have a real job) account was blocked and deleted. I couldn't even transfer EUR 10😉

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These all look completely standard nowadays, unfortunately. You can thank the government for passing laws that force banks/financial institutions to behave like this. If you can't explain every cent, you are presumed to be a tax evader laundering money.

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This is the probably the answer to your question.

 

[JohnnyDoe]

I entered 2 payments, one of 178 Eur to a vendor in Italy and one of 10,000 Eur to myself in France. Both payments blocked for “review”:

Last edited: Feb 17, 2025
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[Martin Everson]

Depositing 100k likely puts you outside their model client activity and into a high risk client bracket.

That EMI sounds unworkable if a first party wire and a small third-party wire are being held up. I would think carefully about continuing to use them if you have alternatives.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[JohnnyDoe]

They executed both payments today.

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[cherry]

Testing your money in a UK based financial institution is like putting your hand in a fire and testing if the fire will burn you.

 

[JohnnyDoe]

cherry said:
Testing your money in a UK based financial institution is like putting your hand in a fire and testing if the fire will burn you.
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Same as with any other bank in any country.

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[Forester]

cherry said:
Testing your money in a UK based financial institution is like putting your hand in a fire and testing if the fire will burn you.
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Why? Could you elaborate more on that?

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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...

 

[cherry]

Forester said:
Why? Could you elaborate more on that?
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Not sure where to start because it's such a mountain. They have a body called the FCA - the Financial Conduct Authority, which has massive overreach controlling financial activities of both individuals and businesses. Among other things, they mandate banks to do manual checks for anything that looks "suspicious" must be investigated - as JohnnyDoe is experiencing. That's just the tip of the iceberg. If you try taking out more than 2000 in cash, banks are obligated to ask interogative questions about why you need it, and ultimately refuse to let you have your money, like this guy:

https://twitter.com/x/status/1808120724197953885

The latest push in the UK is to allow governments to actively watch everybody's bank statements in the UK:

https://twitter.com/x/status/1886469024047096076

I made a simple eBay transaction the other day with a new card, and the bank sent an automated call asking me to confirm my payment with their fraud department.

 

[JohnnyDoe]

cherry said:
Not sure where to start because it's such a mountain. They have a body called the FCA - the Financial Conduct Authority, which has massive overreach controlling financial activities of both individuals and businesses. Among other things, they mandate banks to do manual checks for anything that looks "suspicious" must be investigated - as JohnnyDoe is experiencing. That's just the tip of the iceberg. If you try taking out more than 2000 in cash, banks are obligated to ask interogative questions about why you need it, and ultimately refuse to let you have your money, like this guy:

https://twitter.com/x/status/1808120724197953885

The latest push in the UK is to allow governments to actively watch everybody's bank statements in the UK:

https://twitter.com/x/status/1886469024047096076

I made a simple eBay transaction the other day with a new card, and the bank sent an automated call asking me to confirm my payment with their fraud department.
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All true, but non UK citizens/residents have a slightly easier life.
Unfortunately what you describe is common practice all over Europe and things will only become worse.

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[Forester]

JohnnyDoe said:
Unfortunately what you describe is common practice all over Europe and things will only become worse.
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You are right, unfortunately.
This was a background of my question above. Yes, there are some differences between countries; yet as far as I can see, what FCA does is not exceptional ”“ on the contrary.

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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...

 

[russelw65]

I am not sure if the FCA is easier or worse than any other 'regulator'.

I was about to sign up to Altery....! However, if I am a UK citizen, but EU resident, is using Altery a bad idea? Let me hear your opinions.

 

[russelw65]

Update:

Altery works well and sign up was very easy. Platform is very user friendly (not buggy) and actually dynamic in terms of what you can or cannot do (unlike a lot of EMI app's)

 

[brianK]

JohnnyDoe said:
https://altery.com/
UK based EMI
In addition to IOS and Android app they offer a Telegram based account opening system. I tried it and all went smooth, nice idea and a first for me.

Updated: Monkey warning! See the subsequent posts.

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I want to know if you lost money or only difficult to work with them ?

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Winners never quit and quitters never win....

 

[JohnnyDoe]

brianK said:
I want to know if you lost money or only difficult to work with them ?
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No money lost. So far they executed all the transfers I ordered, even though some went through a “manual verification” process.
The debit card works well, I also used it to withdraw some cash in a foreign currency with decent fees.

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