Avoiding MisterTango's 500EUR corp+ monthly fees

[thebakas]

Given that MT is going to be charging a lot of money from next month for Corp accounts that trade in cryptos, I have a couple of questions:

- If I convert my cryptos to fiat in the exchange and then transfer that fiat money into MT, do I still need a Corp+ account?
- What are the alternatives to this?
- Someone suggested opening an anonymous MT account. How does that work?

 

[JohnLocke]

Actually you don't need a corp account unless it is a requirement from your accounting‌ or you are unable to get the money from MT private account to your corporate‍ account.

I would avoid to open a corporate account with the fees that apply for⁠ corporate accounts at MT.

 

[thebakas]

Why would MT allow you to⁤ open a personal account to connect to your corp entity, for example, an IBC that⁣ does crypto trading? Would they not flag it as a corp account?

 

[JohnLocke]

If you main activity is crypto trading you will be required to open a corporate‌ account. So you won't avoid the EUR 500 fee! But for most other business activity‍ it should work just fine.

 

[thebakas]

Interesting how difficult it is for a company to have a decent bank account for‌ crypto trading and yet there are lots of hedge funds/VCs and other investors who have‍ incorporated actively investing in cryptos around the world.