Please wake up, it's 2025 and you no longer need to subjugate to this kind of fraud.
Come on rof/%
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Crypto Banks feedback - sygnum Amina Frick and such
- Thread starter PhantomOf ThePits
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100% woth the money if you don't know how to spend it otherwise.
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Thread 'Are Swiss banks expensive or not?'
Jan 3, 2025Just put some cash there and don't do any trading.
- daniels27
- Replies: 33
- Forum: Offshore Bank & EMI Accounts
the answer to this is. No, 1% is totally not worth it esp for higher numbers .
😉 Imagine paying 50k yearly out of a 5M crypto holdings.
You can get top notch sec and still let others hold your keys for much much less than that (with fewer regulation and confiscation risks than at a bank). They can e.g. restrict withdrawal limits anytime for example due to some national emergency risk (e.g. you can "only" withdraw 10k a month, while still enough for the broad masses which dont earn more than that in the beginning, it would effectively ruin the 5M portfolio since you'd need 40 years to withdraw it) Especially in Eu, it happened and will happen again (and yes CH is regulatory wise a hidden part of EU as they follow all rules as of today). aka corralito.
Another risk is forced conversion and then letting inflation rip, making the 5M worth a few burgers, as political risks rise, banks are very unsafe.
Especially with crypto, no banks are needed.
Last edited: Jan 23, 2025
In a normal world they wouldn't have a single client.
How can anyone even just consider such a joke of a bank?
Apart from those who need to take advantage of it for some reason 😉
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
I think the situation is quite obvious. Access to banking is needed sometimes.
1) Mr Emil Klein born in Berlin, living in Berlin, working in Berlin for BMW, spending money in Berlin, would have no problems with it at all.
2) Mr Mohhamad Ali who left Afghanistan to live in Germany on student visa doing freelance work and got rich on crypto, wishing to buy real estate in Canada as investment, will have lots of problems.
Mr Ali will have to pay much higher fees to get what he wants.
I don't say it's fair, I hope crypto will make banks 100% obsolete (it may work in some simple cases by the way), but some people ARE in the second category. Don't see any reason to get agitated.
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1) Mr Emil Klein born in Berlin, living in Berlin, working in Berlin for BMW, spending money in Berlin, would have no problems with it at all.
2) Mr Mohhamad Ali who left Afghanistan to live in Germany on student visa doing freelance work and got rich on crypto, wishing to buy real estate in Canada as investment, will have lots of problems.
Mr Ali will have to pay much higher fees to get what he wants.
I don't say it's fair, I hope crypto will make banks 100% obsolete (it may work in some simple cases by the way), but some people ARE in the second category. Don't see any reason to get agitated.
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I believe I was clear: they declined my application. I didn't transfer anything to them.
What are the requirements of onboarding onto Julius Bär, and why go through Amina as opposed to directly?
around 1m, better 2m. ymmv tho. Try to bargain, as swiss banks face outflows since 2022 and are not the only game in town as 20 years ago.
You can easily go directly.
Since they offer only subpar stuff for you (but to maximize bonus payments for the rm and maximize fees), its best the amount of money is an amount you dont need to perform well on.
Lets say you have strong crypto background, you want to onboard at a bank that is willing and is able to do their DD. JB might not want to do this directly. But Amina will.
Once you are at Amina, JB will open the door for you as JB is backing and aligned with Amina.
I was wondering exact the same and concluded that there are still so many people don't know anything about crypto!
No, there are people that have contraints or otherwise are limited in their choices and take advantage of the opportunity That's how Swiss banking worked until 2009.
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