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Any Experiences with Swissqoute online Bank?

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Singa

Singa

🗣️ Active Recruit
Oct 24, 2020
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Hi everybody
Did u heard about this Swiss bank called (Swissqoute.com) they can provide an offshore online bank account.. With personal IBAN, and VISA Card..!!
Any1 dealt with him or had any type of experiences..


Thanks
 
They are good but it's important to be aware that they do not like third-party‌ transfers. They expect you to only send/receive transactions from your own accounts.
 
I only want to use them for Crypto trading..
Did you use they‍ crypto service?
Does they use mid-market Bitcoin Price, or they put they own spread?
 
They are a PITA for account opening. Not only in what they ask for which‌ in itself is standard, but esp in handling time. Communication is only via contact form‍ on the web, and it is one way. They ask you to upload info, it⁠ then takes weeks before they get back via email (to which you cannot respond) and⁤ ask something else. Questions are not unreasonable but I got annoyed by how slow they⁣ worked. After dragging on for about 3 months I informed them I had lost trust⁢ and interest. About 3 weeks after that they informed me being rejected - not sure︀ if it was the final revenge.
Usually brokerage accounts can be opened same day or︁ next. I decided these guys are not for me. If opening an account is so︂ slow I cannot even think how they would behave after placing a meaningful amount with︃ them and then needing them for something. And there are plenty of other solid brokers.︄
 
Dead serious. As per their instructions, information has to be‍ provided per secure portal. Uploads as well but that's normal of course.
 
Odd. I've registered‍ and it says I need to have a video call with them to show myself⁠ with the passport. I just need to click a button, I didn't do that yet.⁤ Did you?
 
Yes. That was done very⁠ quickly, the same day about 30 mts after registering. No problem at all.
The fun⁤ started after that when things were passed to the compliance department.
 
Are they just recording a video or you talk⁠ to someone?

Maybe it has something to do with your location? Where⁣ are you from?
 
it's just a short conference call to verify you and your passport are real.‍

The whole compliance process takes about a week to be accepted onboard but that's about⁠ it, obviously depending on your nationality/origin of funds it can take more time.
There aren't⁤ that many reputable swiss exchange with a swiss bank license that you can onboard remotely⁣ from anywhere, worth the wait imho.
 
Yes you talk to someone. Its quick and pleasant. No issue at all.

Should not have‍ anything to do with my location. I have and have opened several brokerage accounts over⁠ the years and never any issue.
 
What if im⁠ not active, say for 2 months
Would they close my account?
 
No, they won’t. It’s been more than 3 months since I‍ made no transaction or trade with SQ, no issues whatsoever.
 
Just put some of your money in their "robo advisory‍" to avoid account closure as they don't like accounts that don't do any trades.⁠
Leave that invested money there work for itself, and transfer the rest to any other⁤ bank/emi/low fee crypto exchange as much as you like. At least that's how I've been⁣ doing it.
 
Thanks all for u feedback..
Do you advice me to order they⁣ master card? I feel like they fees is high as HELL and not worth it?⁢ What do u think?
Also my plan with Swissquote is simple, i just opened an︀ account to Cash out my crypto Gains...
Thanks again i appreciate it
 
meh, it depends. If you don't have any other options for ATM withdrawal, then it's maybe⁤ worth it. But If you can transfer the money to your local bank account and⁣ then withdraw it via your local debit/credit then It's not worth it at all. It's⁢ all about fees. For me I like to keep the fees law, so what I︀ do is Swissquote>>Transferwise>my local bank account>ATM.
 
Yeah that's exactly⁣ my Route i been thinking about that u mentioned
(Swissquote>>Transferwise>my local bank account>ATM.) really smart..⁢

But i have some concern, i heard alot that TransferWise once you hit 10k, they︀ start play sherlock holmes on you.. They start asking you source of the income, and︁ proofs... So anyway

Can PM looks like we have alot to share to each other..︂ Looking fowrd to talk to u
 
SwissQuote has an excellent trading system for equities and CFDs, highly recommended. Be warned, they‌ will share your information with tax authorities based on the identity you use to sign‍ up your account with.
 
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