EMI without CRS obligation

[GlobalConsult]

Dear all,

I am looking for an EMI with EU (SEPA account) that are NOT obliged for CRS reporting. Any idea?

 

[JohnLocke]

If you find one and no one here is able to point one out you‌ may post it here, that would be of great help to others.

 

[GlobalConsult]

Sure. Actually, EMI are not subject to CRS because they offer only eWallet accounts, no‌ bank accounts, savings accounts, depot etc.

 

[GlobalConsult]

Does anyone know what exactly is reported?

The balance on 31/12 or even all transactions‌ and withdrawals over the year?

 

[leavingcanada]

First Finance International Bank Inc: firstfinancebank.com

So far has been very happy with them. The‌ bank is based in Puerto Rico.

 

[GlobalConsult]

Does the bank have a EUR correspondent account within the EU for SEPA payments?

What documents are required for business account opening?

 

[GlobalConsult]

I said if First Finance International Bank has an EU correspondence account.

 

[GlobalConsult]

O.k. but can you see in online banking how to receive payments is possible?

 

[JohnLocke]

For how long have‍ you been using them? Is it a personal- or business account?

 

[Samuraijack]

Do they carry multi-currency such as Canadian Dollars? What has your experience been with them‌ so far? I'm currently with Euro Pacific and they are a complete headache.