Crypto friendly banks that don’t ask for the impossible

[jeffbean]

I’m looking for bank account to off ramp some legit crypto profits.

I’ve had some problems with Wise and Revolut in the past and the robotic source of funds questions being asked by someone who has know idea of how crypto works.

Can anyone recommend a bank that understands the complexities of not being able to trace every transaction due to closed exchanges, dexes, swaps etc…..?

 

[Clank]

Wise and Revolut aren’t crypto friendly, even if Revolut offers crypto in some countries it’s‌ widely known you should avoid using them.

You can use Nexo exchange, all of their‍ outgoing bank transfers come under your own name and not on Nexo name so your⁠ bank won’t give you that much trouble.

 

[TheCryptoAnt]

tbh after all my⁠ years in crypto your best bet is to create the documents necessary for the compliance⁤ department to go away.

Most people are not crypto native and wont (and cant, honestly)⁣ understand what your situation is.
Just give them what they want.

 

[Martin Everson]

It's not that simple. A lot depends on your personal circumstances i.e an Irish guy in‍ Ireland with $50k will require less due diligence than a Afghani man in UAE with⁠ $50k. There is not a one size fits all as one clearly falls into a⁤ higher risk bracket for a bank. Your situation to us is unknown.

 

[Nomadguk]

So you just make it up? How does it work?⁤

 

[TheCryptoAnt]

create agreements, invoices, etc
or trade records

ask chatgpt fr

 

[Nomadguk]

Dang mate. This sounds new.

I'm learning a lot from this forum ahha

wouldn't it‍ a problem if you get caught though.

 

[TheCryptoAnt]

yeah but most compliance officers are 50IQ, just dont be super sloppy

 

[OKboomer]

Here's a question for you though. I have read a number of criminal‌ indictments in the US where lying to financial institutions is either cited as a criminal‍ offence in itself or at the very least consistently referred to by prosecutors as aggravating⁠ circumstance / bad character portrayal when charging someone with money laundering, which I assume making⁤ fake statements would qualify for.

How do you mitigate these nontrivial risks when doing the⁣ stuff you propose?

To me that's insane that lying to banks, who often de facto⁢ force you to lie, is the same category of offence as lying to the government︀ or courts, which is at least understandable from the constitutional point of view. But I︁ see banks being equivalent to government from this perspective in indictments.
Thoughts?

 

[calbe636]

You might look at Fidor Bank in Germany, they’ve been working with crypto clients for‌ years and get that on-chain tracing isn’t always clean. Their compliance team will still ask‍ for context but they understand swaps and DEX activity better than most

 

[TheCryptoAnt]

Im not trying to meme you, fr this is what I think. Dont︅ be dumb about it and it should all be fine.

its all very size dependent︆ I think, a few hundred ks wont raise many eyebrows specially if your crypto portfolio︇ is big enough but if you are talking millions I think your best bet is︈ to stick it into a corp with a Binance account (who actually understand the 'i︉ lost the SOF please just check the wallets' and then take salaries/dividends from it.

Theres other solutions too, most of them used to launder illegitimate funds, but they dont apply︊ here.

 

[ilke]

This bank is dead for the last 2 years lmao

 

[aniglo22]

I remember this bank haha.
They had no compliance team lol , maybe on paper‍ .
Probably they scraped the other thread where I mentioned this bank and it got⁠ added into the bots context.
The bots keep evolving .

 

[JackAlabama]

Btw. skillful lying is the number one core skill in politics in in big coperations︃ to get ahead.

But Id say you dont need to lie "bigly" to achieve this.︄ Think your situation thru thoroughly and most likely you dont need to lie at all.︅ Bonus points if you can move things and yourself and are agile.

 

[diro]

they are not an option for anyone longer !

 

[OVZA LLC]

Yeah, you're not the only one who's run into issues with Wise and Revolut. The‌ reality is, they’re not made for serious crypto users. They're more like beginner-friendly platforms ,‍ flashy UI, small crypto exposure, but under the hood, they're just onboarding fiat so they⁠ can invest in crypto, not actually helping users off-ramp real profits. The moment your transaction⁤ history isn’t wrapped up in a neat little Coinbase receipt, they start asking robotic source-of-funds⁣ questions that make no sense in a DeFi context.

If you’re looking for something that⁢ actually understands how crypto flows work , especially with DEXs, swaps, closed platforms, etc. ,︀ Jeton Bank is one to consider. They’re known to be crypto-friendly, and they’ve been more︁ flexible with clients who can show a basic trail of how funds were earned, even︂ if it’s not all from centralized exchanges.

Also worth noting: 3sMoney is reportedly working on︃ a crypto on-ramp/off-ramp solution too. They’re not quite there yet, but they’ve shown interest in︄ supporting crypto businesses.

--

Eli Carter

Legal Affairs

 

[Accez]

Is Nexo still⁤ a trustworthy company?

 

[OKboomer]

Still? Have they ever‌ been? That being said they are not worse than other scammy eastern european companies

 

[Accez]

Best to deposit crypto and instant withdraw‍ it to a bank I assume?

 

[burden]

Ther are many alternatives, Wise, Currenxie, Zen and so forth.