Business bank account for crypto reseller from EU to South Africa

[kuvalda204]

Hi,

We have a Cyprus company which buys crypto in EU, resells it in South Africa and sends proceeds back to EU.
We're looking for a new bank account in a reliable bank to scale the operations.

Can you please advise any options/introducers/etc?

 

[Andrew Gooden]

Just type list of Banks at the search section above. A list⁤ have been completed by Darkster and updated by others. Check the latest list also keep⁣ in mind that the days of Private Banking is almost gone due to Common Reporting⁢ Standard or CRS. Most judication have signed up and as far as I know only︀ 12 countries have not so far. There is already a post on that.

 

[kuvalda204]

Thank you for your reply. However, we have checked this list already. Most of⁢ the institutions there are EMIs which are not working with SWIFT. And most of the︀ rest do not accept non-local companies. We contacted 90 if not 100% of that list︁ already. It's a great compilation, but unfortunately it does not work for us. This is︂ why I asked for recommendations or introducers here.

 

[Andrew Gooden]

Why not just⁣ look for an alternative to Swift and then ditch it? Check out www.moneycorp.com/, Currencies Direct
https://www.travelmoneyoz.com

 

[kuvalda204]

There are legal implications‍ on the South African side not allowing to use intermediaries in our particular scenario. It⁠ has to be a bank account.

 

[Andrew Gooden]

Interesting! Eh! I have to do a bit of research and get back to you.⁠ Hush!

 

[Andrew Gooden]

CHECK this thread:⁣ EMIs that accept SWIFT transfers?

 

[kuvalda204]

If it was something simple - I would‍ not ask for advices here )

Thanks, we checked those already. MisterTango does not do SWIFT,⁤ and we can't accept Leopay service risks due to the high volumes.

 

[Andrew Gooden]

Sorry, this seem to⁠ be a hard one. The world is changing indeed. I hope someone else can be⁤ of better assistance. My apologize! Hush!