Are swissquote and dukascopy good for 6 figures transactional bank use?
- Thread starter PinkCat
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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.
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This is the probably the answer to your question.
No problem moving large sums of money through Swissquote, though, but they only expect first party transactions.
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This is the probably the answer to your question.
is it possible at least the incoming (funding) wire to be from a 3rd party eg regulated crypto exchange?
Depending on the exchange, but it's better if you send crypto to Swissquote and convert it there.
can i send them stablecoin and do they have fair rates for conversion and no huge fees?
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
Fees are low and I have never had any problem with them.
I pay 2 EUR for a SEPA transfer and 15-20 for a SWIFT
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.
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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...
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.
Large sums works fine moving from own accounts only. Doing this the last few years.
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One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity
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One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity
So you can't fund your swissquote account from your own crypto exchange account, but you can directly send stablecoin to them convert it to usd and wire out to your own acc? That would work for me since i just convert stablecoin to fiat on exchange anyway and wire to bank.
However, do they take months to SoF your stablecoins that you sent them and can you convert them to 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 I am not in crypto, I cannot say.
TBMK, they are transparent re: fees; check their website. Generally, from what I recall, their fees are reasonable (taking into account that it is a CH bank, not e.g. IBKR).
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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...
You can fund your Swissquote account with money from exchanges aka withdraw EUR or USD from Binance, Kraken, etc to your Swissquote account.
I moved millions from crypto exchanges to Swissquote.
From accounts in your own name, I presume?
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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...
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.
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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...
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, they have bad limits like 2000 quarterly and they will demolish you for trying to move that limit above.
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