Do EMIs comply with CRS just like any bank or there is difference?

[Tax Cow]

Exactly. IBAN in your‍ own name is always reportable unless of adhere circumstances. Shared IBAN that relies on transaction⁠ reference number to receive payments is not reportable - currently out of scope in CRS.⁤

 

[Jessie]

Well what EMIs are left with shared IBAN?

 

[Tax Cow]

Bank of‌ the Commons, WB21

And at least 25 more actively offering this option.

 

[countryfree]

I think Skrill uses shared IBANs, and they offer a credit card.

 

[extremedox101]

yes to EEA clients ,im‌ trying to get skrill card .

 

[Jessie]

Skrill nice.

Up to how much you can safely hold there?

 

[extremedox101]

it's depends on your risk tolerance, i wouldn't leave more than 20,000 if i‍ have to -same goes to any emi.
but it's better to withdraw immediately .

 

[Cclyde]

What are good epayments alternatives with good atm withdrawal limits?
Epayments offers 3 cards with‌ 2500$ daily limit on each.

 

[xxxmb]

So EMI's only pass on information in according with the CRS for accounts with a‌ dedicated IBAN?

I guess there is some value into having a "pooled account" after all.‍

 

[clemens]

You are right. Services like Revolut, Mister Tango and what else they‍ may named have all obligations to report accounts.

 

[niggashit]

You are wrong. This is 21 century. With technologies︅ like Big data and Data science, any tax agency can analyze millions of data.

Example : HMRC Connect.

 

[Nyep]

Most, if not all, EMIs that provide "private IBANs" are actually just providing virtual IBANs.‌ Those IBANs help them know which transfer goes to which customer. The actual money is‍ still in pooled accounts though.

TW is explicitly stating that it does not report to⁠ any tax authority. They have been very upfront so far, and I don't think⁤ they are lying. Tinfoil hats off please.

Obviously the authorities will compel such companies to⁣ report at some point, but that point isn't today.

 

[UniversalMan]

WB21 scammed me for 25k, wire I have sent never reached‍ beneficiary and they stopped responding to me,
so better use other EMIs

 

[latisja]

The fact that one country was able to advance in analysing tax data‍ doesn't mean everyone can. The mere existence of something superior doesn't make the inferior disappear.⁠ Just look at the CRS. Western European country will be able to exchange information with⁤ a relatively small margin of error, but less technological advanced countries will struggle.

Nothing to do︄ with tinfoil hats. TW might report nothing atm, but will do once they've been informed︅ that CRS protocol needs to be implemented. And reporting RA isn't limited to the date︆ of CRS implementation. They will probably report all RA made from >2016. For EMI's it's︇ just a matter of time.

 

[TravelRose]

I can not stand‍ this fucking europe anymore. Great that I'm leaving .