Are swissquote and dukascopy good for 6 figures transactional bank use?

[Alexmorgan]

They asked my friends in Saudi Arabia︂ a screen shot of a system there about their electronic ID while they checked they︃ physical card ID and asked them a video call to show it

Besides they told︄ my friends because of the country they reside in is not allowing Crypto trades they︅ wont allow them to use their platform for it

I have so many friends in︆ Saudi Arabia who told me this either they are Saudis or Expats who living their︇

On me as i reside in Bahrain they were asking me a lot of documents︈ too which is really strange

 

[Clank]

Never had this issue in over 5︂ years. My quarterly limit is of 65,000 USD and if I don’t reach it they︃ don’t ask any questions.

In order to get it I just had to provide a︄ contract.

 

[offtobusiness]

Well i⁠ guess that they dont threat all countries the same. In my situation i did provided⁤ them with full bank statment and explain the situation, however they asked for more and⁣ more and i didnt want to disclose such information with them as they asked some⁢ personal information about my business. There are so many other banks that wont even think︀ about asking you about that stuff.

I've created new thread here: EMI and︈ Offshore banks that works worldwide
about EMI and Offshore banks that works worldwide, feel free︉ to check it out.

Just to add up to my previous reply, i just had︊ conversation with my lawyer and he said to me that there is huge option that︋ they are taking people businesses like this. When you think about it, it makes sense.︌ Bank is asking for some private information for you to get even approved, and then︍ if you deliver every information to them they will see if the business is profitable︎ and then some rich banker from Geneva will use that same idea, and just watch️ how fintech industry gets destroyed but rich bankers. No thanks from my side, especially that‌ Swissquote also from Swiss dont ask for none of the documents or even said something‍ like Dukascopy did to me: We need more evidance we are from Geneva. Like who⁠ cares where are you from, right?

 

[Meta]

What did they want? I mean, what︂ exactly docs and info about your business?

 

[badmonkey]

I would check with SQ prior to making a transfer, advise them which particular exchange‌ and the amount, if they are happy.

Some musings
Are they likely to ask for‍ SoF for this type of deposit, if so what in particular? Just proof the crypto⁠ exchange account is in your name, or the origin of the funds that bought the⁤ crypto?
CARF is set to kick in (2026?) for crypto. SQ would already be doing⁣ CRS as a bank/brokerage but I wonder what criteria they use for CARF. Maybe if⁢ you do not enable crypto trading or do any crypto spot deposits, they will not︀ trigger CARF?