Are swissquote and dukascopy good for 6 figures transactional bank use?
- Thread starter PinkCat
- Start date
- Status
You cannot use Swissquote for third party transactions. The only exceptions to that rule that I've seen have been dividends paid directly from a company owned by the account holder.
No problem moving large sums of money through Swissquote, though, but they only expect first party transactions.
No problem moving large sums of money through Swissquote, though, but they only expect first party transactions.
Dukascopy really will make you hate Banks
They may close your account for no reason
Even if you provided them SOF they will suspend your account for very long time
Besides their Fres soooo hiiiiiigh
6 figures will big amount of it for their pockets
They may close your account for no reason
Even if you provided them SOF they will suspend your account for very long time
Besides their Fres soooo hiiiiiigh
6 figures will big amount of it for their pockets
Dukascopy is cheap if and only if you have less than 50k on the account. Check their pricelist.
@PinkCat:
A.
@Sols is truly right. No third party transactions on Swissquote, even not from exchanges. It's true that there are reported cases when they were a little bit lenient; but extremely probably it's just an exception, related to certain clients who bring a really good business to them and it did not concern regular payments but occassional transactions.
B.
Dukascopy is not destined for regular 6 figures transactions at all.︀
@PinkCat:
A.
@Sols is truly right. No third party transactions on Swissquote, even not from exchanges. It's true that there are reported cases when they were a little bit lenient; but extremely probably it's just an exception, related to certain clients who bring a really good business to them and it did not concern regular payments but occassional transactions.
B.
Dukascopy is not destined for regular 6 figures transactions at all.︀
Last time I did a 4 figure transfer with Duakscopy (less than 5 k) they froze it for 2 weeks, then I did some more in the same range and they were all good. Overall I have positive words for them but for 6 figures you have to raise your account limits first and most definitely prepare to deal with some headache if not a lot.
So you can't fund your swissquote account from your own︀ crypto exchange account, but you can directly send stablecoin to them convert it to usd︁ and wire out to your own acc? That would work for me since i just︂ convert stablecoin to fiat on exchange anyway and wire to bank.
However, do they take︃ months to SoF your stablecoins that you sent them and can you convert them to︄ fiat at fair rates and without exorbitant fees?
However, do they take︃ months to SoF your stablecoins that you sent them and can you convert them to︄ fiat at fair rates and without exorbitant fees?
🙂 If this account is in your name (sender = you) then I think yes. If sender is an exchange, then not. You can ask their support for the clarification, they used to be friendly.
Yes. I am not in crypto so I do not know how they check that stablecoins come from you and not from 3rd party.
As I︁ am not in crypto, I cannot say.
TBMK, they are transparent︃ re: fees; check their website. Generally, from what I recall, their fees are reasonable (taking︄ into account that it is a CH bank, not e.g. IBKR).
Yes. I am not in crypto so I do not know how they check that stablecoins come from you and not from 3rd party.
As I︁ am not in crypto, I cannot say.
TBMK, they are transparent︃ re: fees; check their website. Generally, from what I recall, their fees are reasonable (taking︄ into account that it is a CH bank, not e.g. IBKR).
You can fund your Swissquote account with money from exchanges aka withdraw EUR or USD from Binance, Kraken, etc to your Swissquote︀ account.
I moved millions from crypto exchanges to Swissquote.
I moved millions from crypto exchanges to Swissquote.
I withdrew EUR from crypto exchanges in my name and then when the money went in my Swissquote account, I would transfer it to accounts in my name.
Yes, this is expected to work; it should not be interpreted as the 3rd party transaction, as discussed here Are swissquote and dukascopy good for 6 figures transactional bank use?. Thanks for the clarification.
Dukascopy is the worst bank ever, they have nice perks thats for sure. No other bank allow you to withdraw money directly to yourself through Westerunion for small fee etc. but to get there, they will ask you to give them so many even personal informations that after two weeks of communication you just realize its not worth beucase they can aslo decline you just becasue. In my situation i was arguing with them for so long and they gave me some bulls**t like our bank is in Geneva we need more documents becuase of that despite that i did provided them with everything, they︀ have bad limits like 2000 quarterly and they will demolish you for trying to move︁ that limit above.
- Status