Alternative to Sq bank

[Arthas]

Hi there,

I'm looking for an alternative bank to sq on switzerland

they don't have minimum deposit to open
they allow remote opening
there is almost not commissions at all
sort of secrecy with non CRS AEOI countries

is there anything similar or as good as they look?

many thanks to all!

 

[negon]

You say SQ bank offer all this and you are looking for an alternative? please provide a link to this bank, can't find it on Google 🙂

 

[Arthas]

hi there

with sq, i was meaning swisquoteee

and yes, i openned my accounnt remotely, they didn't require any minimum deposit, 0 mainteinance fees.

and i'm looking for an alternative, i think there should be a bank offering the same or at least something very similar

kind regards

 

[mrau]

No @Arthas Does SQ allow third party deposits in your account or just transfers in your name? Is it a shared IBAN or one of your own? (No references codes, descriptions, etc) Thanks!

 

[Arthas]

hi there, yes it allows me

if you've a savings account you can only receive money from accounts under your name, but, if you've a trading account you can make and receive 3rd party transfers

I've my own iban

 

[Milky Moon]

Dukascopy Payments

I've not used them.

 

[mrau]

Thank you @Arthas! It's good to know that about SQ. With regard to your query, I was about to suggest you the same alternative that @Milky Moon just did moments ago (Dukascopy). I think they have the same business model than SQ. I haven't tried their services either.

 

[Arthas]

mrau said:
Thank you @Arthas! It's good to know that about SQ. With regard to your query, I was about to suggest you the same alternative that @Milky Moon just did moments ago (Dukascopy). I think they have the same business model than SQ. I haven't tried their services either.
Click to expand...

just one tip... if you're going to use the trading account only for receiving third party payments.... avoid receiving too much or too many from third parties... I know some cases where the bank started to make questions
I think they wont say anything if you hold some assets with them or if you've some positions, etc...
for example buy some stocks options... exchange currency, etc...
I'll have a look on dukas, I know them as forex broker, but didn't know they allow remote opening

thanks to all!

 

[mrau]

Thanks fot your tips @Arthas! I'll look into SQ bank a bit more and perhaps I'll give them a try

 

[mrau]

Hi again @Arthas . Hope you found the solution you were looking for and are still reading the forum 😉.
I have one more question about SQ. Are they easy going with funds withdraws? Can you order the wire transfer online or have to speak with an acc rep, fill forms, etc? I've read some reviews about SQ saying that they might be problematic with outgoing wire transfers, take long time, etc. Gently let me know your comments. Thank you!

 

[negon]

Thanks for this great information here! It has been of help.