Bank reference letter & anonymity

[dotbloup]

I asked my private bank for a bank reference letter and they asked me for more information about the financial institution that was asking for it. If i tell all the truth about it is a breach of anonymity for me taking into account that my private bank (like yours maybe) keep track of all conversations with customers. It is not possible to ask for a generic bank reference letter. They want to know everything about the organization that asked for it.

I am surprised that few people are concerned here that their bank representative of their personal account is aware they want to deal with an offshore bank account...

When you guys say that Cyprus banks are great, i am quite surprised about it because they all ask for bank reference letters.

On the other hand, there are banks that don't require bank reference letter like Breder suasso or Rietumu.

 

[JohnLocke]

dotbloup said:
I asked my private bank for a bank reference letter and they asked me for more information about the financial institution that was asking for it. If i tell all the truth about it is a breach of anonymity for me taking into account that my private bank (like yours maybe) keep track of all conversations with customers. It is not possible to ask for a generic bank reference letter. They want to know everything about the organization that asked for it.

I am surprised that few people are concerned here that their bank representative of their personal account is aware they want to deal with an offshore bank account...

When you guys say that Cyprus banks are great, i am quite surprised about it because they all ask for bank reference letters.

On the other hand, there are banks that don't require bank reference letter like Breder suasso or Rietumu.
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It depends all on the agent you are using to help you open the account, this apply for Cyprus as well as most other banks and offshore jurisdictions where people get asked for the most foolish documents to be provided.

That's also the different between the very cheap (get all for nothing) online operations and the more professional and expensive online services. You get what you pay for.

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[dotbloup]

I think that the registered agents & banks who understand that their customers come to them because they want less bureaucracy (in Europe, lots of bureaucracy in the UK, Ireland, Belgium, Netherlands, Germany, France & Italy), they understood everything.

I mainly went for offshore to prevent myself to fill out forms rather than focusing on my job

 

[negon]

You can still find reliable agents with less complicated company formation and bank account opening requirements 🙂

 

[thegazelle]

This is true. I applied for an offshore account in Europe a while back and had to get a bank reference letter. I went to my bank and they said they had to address it to the bank with which I am opening the account. I asked why and they said that's their process. When I told them, they asked me "why are you opening an account there?" The banker then got really nosy and I was like, can I not just get a letter indicating that I have been a customer here for such and such years in good standing, etc. Evidently not. Now that is a bank reference letter. If I just asked them to print the bank statements, there is no target recipient needed. Maybe I should have gone to a different branch.

 

[Emirates]

thegazelle said:
Maybe I should have gone to a different branch.
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You need to do that, not all banks are as this bank. I have 1 bank that behave similar when I asked them for a reference letter. Today I have 3 soon 4 banks so it give me more options in the future.

 

[JohnLocke]

You can always start with a bank that won't require a reference letter to open an account for you. Build up a good customer relation with them and after a year or two you may get a reference letter from them. At least they will be willing to send it directly to the bank of your request!

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[drillbill]

dotbloup said:
I think that the registered agents & banks who understand that their customers come to them because they want less bureaucracy (in Europe, lots of bureaucracy in the UK, Ireland, Belgium, Netherlands, Germany, France & Italy), they understood everything.

I mainly went for offshore to prevent myself to fill out forms rather than focusing on my job
Click to expand...

Some agent will make the reference letter for you if that is what is required by the bank they work with and the client can't get it!!

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Hey, I don't make the news. I only report it! 😎

 

[kolagin]

What if my bank and agent refuse to get me a reference letter but the offshore bank requires it ??

 

[pesto]

Do you really think it is that hard to get a reference letter and stay anonymous 😀

 

[pesto]

kolagin said:
What if my bank and agent refuse to get me a reference letter but the offshore bank requires it ??
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Then you contact @auric it works I'm still laughing 😀

 

[suzy]

thegazelle said:
This is true. I applied for an offshore account in Europe a while back and had to get a bank reference letter. I went to my bank and they said they had to address it to the bank with which I am opening the account. I asked why and they said that's their process. When I told them, they asked me "why are you opening an account there?" The banker then got really nosy and I was like, can I not just get a letter indicating that I have been a customer here for such and such years in good standing, etc. Evidently not. Now that is a bank reference letter. If I just asked them to print the bank statements, there is no target recipient needed. Maybe I should have gone to a different branch.
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Yeah it is what happen and that's why we don't want a reference letter from our current bank!! It is a no go if privacy matters!

 

[suzy]

pesto said:
Do you really think it is that hard to get a reference letter and stay anonymous 😀
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Question is not if it is hard but what information you will have to provide to your current bank in order to get a bank account offshore somewhere! If privacy really matters I would not look any further into real bank accounts but rather service like WorldCore, LeuPay, Xapo, AdvCash and so forth to get my money kept there.

 

[pesto]

Agree it is not worth to request reference letter from current bank if it's possible to avoid it!

 

[cutmetwo]

Is it a problem to get a bankers reference letter from the bank? If it is can a letter from Lawyer or CPA be the same as good?

 

[pincho]

dotbloup said:
I asked my private bank for a bank reference letter and they asked me for more information about the financial institution that was asking for it. If i tell all the truth about it is a breach of anonymity for me taking into account that my private bank (like yours maybe) keep track of all conversations with customers. It is not possible to ask for a generic bank reference letter. They want to know everything about the organization that asked for it.

I am surprised that few people are concerned here that their bank representative of their personal account is aware they want to deal with an offshore bank account...

When you guys say that Cyprus banks are great, i am quite surprised about it because they all ask for bank reference letters.

On the other hand, there are banks that don't require bank reference letter like Breder suasso or Rietumu.
Click to expand...

For bank reference letter get it from @auric and his bank it works for real account opening you don't need to scary of person privacy.

 

[AMD]

pincho said:
For bank reference letter get it from @auric and his bank it works for real account opening you don't need to scary of person privacy.
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but he is not available any longer he say go to @darkster is that true?

 

[Spinat]

drillbill said:
Some agent will make the reference letter for you if that is what is required by the bank they work with and the client can't get it!!
Click to expand...

Does anyone still need these reference letters to open an account in any bank or is everyone just using EMI's and don't need such documents any longer?

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[BlueMist]

blueweb said:
Does anyone still need these reference letters to open an account in any bank or is everyone just using EMI's and don't need such documents any longer?
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My UAE bank has never any problem with issuing references. This can be addressed to the Timbuktu based companies if I wanted to, they will just copy/paste and sign. Usually done within 24 hours. Never once I was asked about the reason or who is the addressee itself. What they are risking? Nothing, this is done on behalf of the account holder's request and the always state that they have no responsibility for anything resulting from this reference letter.

Also who said some EMI's do not require reference letters?

 

[Nicholas Van Orton]

BlueMist said:
My UAE bank has never any problem with issuing references. This can be addressed to the Timbuktu based companies if I wanted to, they will just copy/paste and sign. Usually done within 24 hours. Never once I was asked about the reason or who is the addressee itself. What they are risking? Nothing, this is done on behalf of the account holder's request and the always state that they have no responsibility for anything resulting from this reference letter.

Also who said some EMI's do not require reference letters?
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Hey @BlueMist who are you banking with in the UAE? Interested to know as I might test them out if I'm not already banking with them, thanks.