Finance and economics mentoring
New Horizons Paraguay
Ticker tape by TradingView

Banking solution

Status
Not open for further replies.
S

Saho

🗣️ Active Recruit
Aug 1, 2020
88
0
161
Hi,

I'm currently looking for a good banking solution for my software shop. It has a volume of around 100k€ per month.

All of the money goes from PayPal and Stripe to the bank account. Everything needed will be paid from there. Nearly all of the remaining revenue will be exchanged to crypto currency.

So far I've used N26 and there have been no problems. Since they only offer bank accounts to freelancers and no real company accounts (GmbH or UG) I'm looking for something else. I'm looking for a privacy-oriented service. What can you guys recommend?

I first thought about Fidor which also includes the instant exchange using bitcoin.de. Sadly not the cheapest service out there and I don't like Fidor at all. If possible, I'd try to avoid fintech banks. They seem to be annoying with lots of suspending and asking for documents for every little peanut. Bunq has done this to a friend of mine and it looks like lots of fintech banks are doing the same.

ibansepa.com looks promising too. Has anyone used them for a longer period? Offshore is not the most important thing, but it can be if I'm able to do my business with some privacy and exchange the rest to crypto currency.
 
Hey,

If electronic money institutions (EMI's), are doing proper due diligence, that is a good‌ indicator for reliability and peace of mind. If you have documents that back up your‍ transfers, I wouldn't be too worried about it. I would be worried much more if⁠ they put a blind eye on your operations. That means they don't care about their⁤ operations and sooner or later they will get audited. And trust me, this is not⁣ going to work well for them.

As regards fully licensed banks, it will be too⁢ hard for you to find the one who will also be crypto-friendly. It's just based︀ on the regulations' environment.
 
Why not form a local company where you live and open a local bank account?‌

Depending on where you live, you may be able to keep your name out of‍ public record by using some form of nominee or trustee arrangement with a local regulated⁠ fiduciary.
 
Saho hasn't mentioned where he's based, but I'd start there and see‍ what options they have.

As for corporate privacy in general in Europe, you have the⁠ likes of Sweden, Netherlands, Belgium, Luxembourg, Switzerland, Liechtenstein, and probably a few more where shareholders⁤ aren't (always) on public record. But with the new UBO registers being required, you nowadays⁣ need a more sophisticated setup through which you aren't the UBO anymore (Switzerland notably has⁢ refused to implement a public UBO register, for now).

In broad sweeping terms this can︀ usually be done through a trust setup or something like it, where you (the original︁ UBO) surrender the company to a fiduciary. Speak with a fiduciary/lawyer who knows the relevant︂ laws.

I've seen a few examples of arrangements like this and it has been fine︃ for situations where the goal is keep away from the public eye (UBO/investors keen on︄ the public not knowing how much money they make), but not from government or banks︅ having insight.
 
Thanks for your reply. I guess︁ you're referring to ePayments. Mainly I'm not loking for an EMI, but also I'm not︂ looking for something like Bunq. They literally asked my friend where the 500€ came from︃ and it was a bank transfer from PayPal. N26 asked only once where the money︄ comes from. And this was at about 11k€ balance. No struggle and no annoying questions︅ since then. And the bank only needs to be crypto-friendly for me, so I can︆ buy crypto. I'm not receiving crypto-related money. I wouldn't say that N26 is crypto-friendly, but︇ since now there has been no struggle to buy bitcoin from different exchanges. This is︈ enough.

Yes, this is definitely not a bad way︌ to do it. At least you won't face any problems with it. I might also︍ go for this, but before I want to see some other possibilites. Although I haven't︎ heard anything of a fidcuiary in Germany yet.

I don't have anything‌ in mind and wanted to contact some providers on here. ibansepa.com's product 2 seems to‍ be a good way to go too, but the website doesn't look that serious to⁠ be honest.

I'm based in Germany. I'm not looking to hide︈ money. The used banking solution will see all transfers anyway. Netherlands seems like a good︉ country and is definitely crypto-friendly since lots of exchangers are based there.
 
Thanks! But I'm mainly looking⁠ for a good bank without annoying questions with the possibility to open a company account.⁤ I'm also considering darks if necessary to avoid most taxes and keep my privacy.
 
This was crypto related (incoming transfer from an exchange),‍ right? How did you explain it and did they ask for supporting documentation?
 
No, only outgoing‍ was crypto-related. I sent them some proof of stuff I was selling and some paypal⁠ history. They have never answered, but after a few days everything went back to normal.⁤ In the meantime I my outgoing transfers were delayed.

I admit that that my comments above are kinda strange, but I⁣ wanted to say that I just want to avoid taxes at all cost. Therefore I'd⁢ like to go with some darks or business accounts that are not running under my︀ name. That's what I need.
 
Get a nominee bank account that way if something goes wrong⁢ you have a real person to talk and verify themselves to the bank.
With darks︀ its all good until it goes wrong just at the point at which you have︁ 100K stuck in there.
 
Thanks for your reply, but as you can probably see, I'm already a gold member.
 
What's the status right now in your findings? Have you‍ already opened a thread inside the mentor or still suffering to do so?
 
I've got‍ one interesting offer. If you got something, you can just send me a PM.
 
Status
Not open for further replies.

JohnnyDoe.is is an uncensored discussion forum
focused on free speech,
independent thinking, and controversial ideas.
Everyone is responsible for their own words.

Quick Navigation

Forums

User Menu

Login
Community platform by JohnnyDoe © 2025 JohnnyDoe
Top Bottom