Bankera has gone totally crazy

[mrau]

Dandyline said:
Just register in Cyprus and get a EU residency for banking purposes.
Click to expand...

Do you mean register a company?
Either a company or a rental, both would take a thousands of Euros per year in expenses.
It would't be cost-effective at all for me to spend such amount just to have an EMI account to transact €10K euros per year in crypto operations.
I do have another account in a real bank in Europe but it's not a crypto-friendly entity and I don't wany to try my luck 😎

 

[JohnnyDoe]

mrau said:
Do you mean register a company?
Either a company or a rental, both would take a thousands of Euros per year in expenses.
It would't be cost-effective at all for me to spend such amount just to have an EMI account to transact €10K euros per year in crypto operations.
I do have another account in a real bank in Europe but it's not a crypto-friendly entity and I don't wany to try my luck 😎
Click to expand...

Your problems can be solved with a $150 budget, which includes one month membership of the Mentor Group Gold

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[mrau]

JohnnyDoe said:
Your problems can be solved with a $150 budget, which includes one month membership of the Mentor Group Gold
Click to expand...

I'll try to take a look later thu&¤#

 

[Dandyline]

mrau said:
Do you mean register a company?
Either a company or a rental, both would take a thousands of Euros per year in expenses.
It would't be cost-effective at all for me to spend such amount just to have an EMI account to transact €10K euros per year in crypto operations.
I do have another account in a real bank in Europe but it's not a crypto-friendly entity and I don't wany to try my luck 😎
Click to expand...

You don't need a company, just rent a cheap room or something. It all comes down to how important EU banking is to you.

 

[Forester]

mrau said:
For non-EEA (personal use) I just know WISE, Bankera and the recently "launched" SwissMoney (whose reviews here in the forum are not that good, specially for its VERY HIGH fees). Then I also know Dukascopy but it's almost the same than bankera (extremely low limits of just EUR 3000 every 4 months)
If you know any other, please advise.
Click to expand...

Check e.g. Verifo, Paysera, zen.com and Interpolitan Money (of course the result can depend on your particular country of residence).

Don said:
It could make a difference regardless.
EU citizenship shows that you have a right to stay in the country and visit Schengen countries for tourism purposes, while for example a digital nomad visa allows you to work and do business in an EU country, so it naturally offers more substance.
Click to expand...

Well, TBMK, EU citizenship itself allows you to stay, work and do business in any EU country, regardless of your place of residence, it's the core of Maastricht and further agreements. So I would be even surprised if you can ask for a digital nomad visa as an EU citizen and you definitely do not need to do it...

Don said:
My recommendation stems from experience + hearing this directly from an onboarding assistant of an EMI, when getting a pre-approval for a UAE structure that wasn't yet formed at the time.
Click to expand...

Having said the above, I can imagine well that some bank monkey can think like you describe 🙁

Toggle signature
--------------------------------------------------------------------------------------------------------------------------------------

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...

 

[mrau]

Forester said:
Check e.g. Verifo, Paysera, zen.com and Interpolitan Money (of course the result can depend on your particular country of residence).


Well, TBMK, EU citizenship itself allows you to stay, work and do business in any EU country, regardless of your place of residence, it's the core of Maastricht and further agreements. So I would be even surprised if you can ask for a digital nomad visa as an EU citizen and you definitely do not need to do it...

Having said the above, I can imagine well that some bank monkey can think like you describe 🙁
Click to expand...

Thank you thu&¤# . From that list only Verifo and Interpolitan offer accounts for residents in South America as me.
Interpolitan seems to be a solution for high risk profiles (and therefore, enormous fees involved).
Verifo website seems friendly and its costs are affordable. Don't know (nor is stated in the website) if they allow payments to/from crypto exchanges (one of my main purposes)

 

[Forester]

mrau said:
Thank you thu&¤# .
Click to expand...

You are welcome.

mrau said:
From that list only Verifo and Interpolitan offer accounts for residents in South America as me.
Click to expand...

Well, if you are in South America, check Zenus.com as well; however I admit that I do not know how they look at crypto-related transactions.

mrau said:
Interpolitan seems to be a solution for high risk profiles (and therefore, enormous fees involved).
Click to expand...

Worse than with Bankera? (I have not checked, currently.)

mrau said:
Verifo website seems friendly and its costs are affordable. Don't know (nor is stated in the website) if they allow payments to/from crypto exchanges (one of my main purposes)
Click to expand...

AFAIK, they allow.

Toggle signature
--------------------------------------------------------------------------------------------------------------------------------------

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...

 

[ilke]

Forester said:
Well, if you are in South America, check Zenus.com as well; however I admit that I do not know how they look at crypto-related transactions.
Click to expand...

I think Zenus is a good suggestion. They are not anti-crypto and they don't reject crypto-related transactions. Living outside of the EEA, he will also be able to get the card from Zenus, which is quite nice for transactions.

Forester said:
Worse than with Bankera? (I have not checked, currently.)
Click to expand...

Actually, yes (for some businesses). They vary the fees a lot and there isn't a specific fixed cost setup AFAIK (unlike Bankera). They also 'resell' some other EMIs with BaaS (like Modulr) or some banks. They do adapt the pricing based on risk, though, so even though it will still probably be more expensive than other options, the difference shouldn't be as high for lower risk.

Forester said:
AFAIK, they allow.
Click to expand...

Based on my experience, they do. I can confirm your statement.

 

[csp dubai]

they are looking excusee to freeze yoiur accounts

 

[jafo]

csp dubai said:
they
Click to expand...

With "they" you mean the subject of the topic, correct? 🙄

 

[mrau]

csp dubai said:
they are looking excusee to freeze yoiur accounts
Click to expand...

The account balance has never-ever exceeded €3 so they won't be able to rob much from me.

 

[jafo]

mrau said:
The account balance has never-ever exceeded €3 so they won't be able to rob much from me.
Click to expand...

and

Now, just imagine what your "CONFIDENTIAL PASSPORT KYC AML CRS AEOI CFC, etc." *data* is worth.... 🙄

I don't think they care about the €3...they already have so much info on you. Even in a plea deal, they could "offer your info" in exchange for a lesser sentence, cooperation, and maybe even a reward.... 😳

 

[wonderfulboy]

mrau said:
I´m a non EEA resident and opened a fully verified personal account at Bankera back in 2021. Since then (almost 3 years) I only moved LESS THAN 3 EUROS (I just have the account as a buffer between non-crypto friendly banks and exchanges and as I don't do too much crypto I never have to really used it). The 2 transactions (again, LESS THAN 3 EUROS) were made from/to my OWN accounts in Europe (never sent or received from any crypto exchange)
At the end of December they sent me an e-mail requesting to re-verify the account. That's ok with me and I started the process and completed the KYC forms again. Since then the nightmare begun, they keep requesting REALLY SENSITIVE AND INTRUSIVE information about me. I have nothing to hide and diligently provided 2023 tax returns, utility bills, bank statements (both in Europe and in my home country), crypto addresses, etc. But THAT WAS NOT ENOUGH for them. Now they are asking licenses, more bank statements, investment receipts, invoices, contracts, and an endless list of documents just like if I were (or had) to move TENS OF THOUSANDS of euros in the account. I repeat for the third time because this is unbelievable: I only moved 3 EUROS in 3 YEARS with them and FROM/TO MY OWN ACCOUNTS. In the KYC forms I only stated that my maximum planned operation with the account could be between 3000 and 5000 Euros (and not every month but perhaps once or twice A YEAR).
Bankera approach is clearly not rational
@Gediminas
Click to expand...

How is it going with your nightmare?

 

[mrau]

wonderfulboy said:
How is it going with your nightmare?
Click to expand...

I left the KYC process (and the account) abandoned.
Few days later, they kept requesting me to continue with it but then they stopped.
I think they will keep the account only with a level 2 verification status which only allows €1000 per year turnout.
Anyway, I'm not planning to use it anymore because the risk of a freezing is enormous.

 

[jafo]

mrau said:
I left the KYC process (and the account) abandoned.
Click to expand...

mrau said:
Anyway, I'm not planning to use it anymore because the risk of a freezing is enormous.
Click to expand...

Very smart move! You dodged a bullet! 😉

PS. Just to f*ck with them, if they write again, insist on doing KYC/AML on them to make sure they are entitled to this info... 😛

 

[Piano]

ilke said:
I think Zenus is a good suggestion. They are not anti-crypto and they don't reject crypto-related transactions. Living outside of the EEA, he will also be able to get the card from Zenus, which is quite nice for transactions.

Actually, yes (for some businesses). They vary the fees a lot and there isn't a specific fixed cost setup AFAIK (unlike Bankera). They also 'resell' some other EMIs with BaaS (like Modulr) or some banks. They do adapt the pricing based on risk, though, so even though it will still probably be more expensive than other options, the difference shouldn't be as high for lower risk.

Based on my experience, they do. I can confirm your statement.
Click to expand...

How long have you been with Zenus ?

 

[patterson]

They also sent me some questions this week asking about 5k I sent from Coinbase. For now it's reasonable. Told them the payments were from my company and they asked for some sample invoices. If it ends with that, I'm fine. There are EUR 20 in the account right now.

 

[mrau]

patterson said:
They also sent me some questions this week asking about 5k I sent from Coinbase. For now it's reasonable. Told them the payments were from my company and they asked for some sample invoices. If it ends with that, I'm fine. There are EUR 20 in the account right now.
Click to expand...

In my case I never received anything from third-party accounts. Just less than €10 from my personal account in Wise to test how fast it worked. That's all the activity in the account and they started spending my tons of requests about my income, assets, accounts, crypto wallets, etc. Totally insane.

 

[wellington]

epay something just sent me a KYC request (update) haven't used them thought it would be a scam, but i set up an account there years ago, might be an alternative.

 

[ilke]

wellington said:
epay something just sent me a KYC request (update) haven't used them thought it would be a scam, but i set up an account there years ago, might be an alternative.
Click to expand...

ePay-what? ePayments has been gone for a long time; ePayService was a Russian EMI that lost its Malta license a long time ago (although they still promote it on their site. Can't think of any others..