Do you ever considered to become you own Bank or Payment Processor? - Read!!

[EliasIT]

I was wondering with all these real business people around OffshoreCorpTalk and with the deep pockets - did you ever considered to become your own bank or Payment Processor for say high risk business?

I was looking around for a high risk processor and stumbled upon the below website:
https://www.ultimabanq.com/assets/docs/core_banking_plus_crypto_module.pdf
The pricing is too much for me for a life-time license so I moved on. However, maybe this may be a opportunity for someone with such sums considering it to be peanuts.

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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[Arthur82]

Irony is that you still need Banking to create your own Banking service.
Plus, you will need $100.000+ to get all licenses depending on country where you are launching Banking and you will need to show that you have capital (millions almost everywhere) to get the licence.
So, after you paid a huge amount of money to get the licence, after your millions are stuck in the company, will you board some risky businesses in your bank and risk all the efforts and money you've invested into your own Bank? 🙂

 

[mud]

EliasIT said:
I was wondering with all these real business people around OffshoreCorpTalk and with the deep pockets - did you ever considered to become your own bank or Payment Processor for say high risk business?

I was looking around for a high risk processor and stumbled upon the below website:
https://www.ultimabanq.com/assets/docs/core_banking_plus_crypto_module.pdf
The pricing is too much for me for a life-time license so I moved on. However, maybe this may be a opportunity for someone with such sums considering it to be peanuts.
Click to expand...

Tempting

 

[Dandyline]

Arthur82 said:
Irony is that you still need Banking to create your own Banking service.
Plus, you will need $100.000+ to get all licenses depending on country where you are launching Banking and you will need to show that you have capital (millions almost everywhere) to get the licence.
So, after you paid a huge amount of money to get the licence, after your millions are stuck in the company, will you board some risky businesses in your bank and risk all the efforts and money you've invested into your own Bank? 🙂
Click to expand...

For PSP/Acquirer you only need a PI license, capital requirement 125K EUR in Cyprus or Lithuania. It doesn't cost anything to apply for the license, lawyers cost though, around 50k for the setup.

The main issue is to setup a management team and meet all the regulatory requirements.

 

[legaltalk]

Dandyline said:
For PSP/Acquirer you only need a PI license, capital requirement 125K EUR in Cyprus or Lithuania. It doesn't cost anything to apply for the license, lawyers cost though, around 50k for the setup.

The main issue is to setup a management team and meet all the regulatory requirements.
Click to expand...

Do you have PSP for sale ?

 

[EliasIT]

Dandyline said:
For PSP/Acquirer you only need a PI license, capital requirement 125K EUR in Cyprus or Lithuania. It doesn't cost anything to apply for the license, lawyers cost though, around 50k for the setup.

The main issue is to setup a management team and meet all the regulatory requirements.
Click to expand...

Sounds like you have through the process or did you just made your research?

Toggle signature
If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.