Anyone has experience with https://www.jetonbank.com/? It seems like the same service that the kingdom bank offers, but I couldn't find any review at all. Is this bank legit or a scam?
JetonBank, experience?
- Thread starter JimmoDS
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It's a real offshore bank according to government website when I searched. Seems they only service corporate entities and not individuals.
https://fsu.gov.dm/registered-entities/search-financial-entities
P.S I would also like to hear if anyone had experience with the bank. Trust pilot does not look good so far
https://www.trustpilot.com/review/www.jetonbank.com
Especially this feed back below I found if genuine.
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Beware! This is wrong on so many fronts. False advertising for a start. They advertise an account with IBAN. Once opened they will tell you that this is actually a POOLED IBAN and not an individual IBAN. But they say you can get an individual IBAN. Once applied for this, they will reveal their charges: € 2,000 to open the Account, an additional︀ € 500 for 'application fee' and an outrageous € 150 per month for 'monthly maintenance︁ fee'. This is in addition to horrendous charges for just about anything else. And remember︂ that the 'Bank' is registered in the dubious Commonwealth of Dominica!
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https://fsu.gov.dm/registered-entities/search-financial-entities
P.S I would also like to hear if anyone had experience with the bank. Trust pilot does not look good so far
https://www.trustpilot.com/review/www.jetonbank.com
Especially this feed back below I found if genuine.
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Beware! This is wrong on so many fronts. False advertising for a start. They advertise an account with IBAN. Once opened they will tell you that this is actually a POOLED IBAN and not an individual IBAN. But they say you can get an individual IBAN. Once applied for this, they will reveal their charges: € 2,000 to open the Account, an additional︀ € 500 for 'application fee' and an outrageous € 150 per month for 'monthly maintenance︁ fee'. This is in addition to horrendous charges for just about anything else. And remember︂ that the 'Bank' is registered in the dubious Commonwealth of Dominica!
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Same company
Legit but not cheap. Like a 90% chance you'll be restricted to B2B EUR SEPA for business (unsurprising, it is a Dominica license :/ and they are using CENTROlink)
True.
Individuals are serviced through their retail platform Jeton.com
The review is kind-of accurate. It︇ is a real account of events but not a quality analysis.
They advertise the opportunity︈ to get an account with a dedicated IBAN – and you can. They are oriented︉ more toward high-risk (same as their other brands incl. TKB), so €2.5K opening sounds realistic.︊ €150 monthly seems below average for them; therefore, it is also quite believable. Pooled will︋ probably be much cheaper.
Whether you consider the charges horrendous for a crypto-friendly account with︌ crypto services embedded + access to EUR SEPA and sometimes GBP FPS + several pay-in︍ networks (Przelewy24, PIX, etc.) depends a lot on the risk and jurisdiction of your business.︎ I feel it is suitable for a very large category of companies.
Sure, Dominica is️ not the most reputable jurisdiction (and the bank licensing is not far from being considered corrupt), but it's also not a place you can do anything you want with no supervision. If it is dubious once again relates to personal standards.
Legit but not cheap. Like a 90% chance you'll be restricted to B2B EUR SEPA for business (unsurprising, it is a Dominica license :/ and they are using CENTROlink)
True.
Individuals are serviced through their retail platform Jeton.com
The review is kind-of accurate. It︇ is a real account of events but not a quality analysis.
They advertise the opportunity︈ to get an account with a dedicated IBAN – and you can. They are oriented︉ more toward high-risk (same as their other brands incl. TKB), so €2.5K opening sounds realistic.︊ €150 monthly seems below average for them; therefore, it is also quite believable. Pooled will︋ probably be much cheaper.
Whether you consider the charges horrendous for a crypto-friendly account with︌ crypto services embedded + access to EUR SEPA and sometimes GBP FPS + several pay-in︍ networks (Przelewy24, PIX, etc.) depends a lot on the risk and jurisdiction of your business.︎ I feel it is suitable for a very large category of companies.
Sure, Dominica is️ not the most reputable jurisdiction (and the bank licensing is not far from being considered corrupt), but it's also not a place you can do anything you want with no supervision. If it is dubious once again relates to personal standards.
It's basically the limitations of an EMI with the risks of an offshore bank. AFAIK, there is no business they could open an account for that you couldn't just place directly with an EMI of similar risk appetite. At least if you do that, you get the benefits (as well as the limitations) of an EMI, without the added risk of dealing with an offshore bank of this type.
Well, what @Sols is suggesting is that since they are just a wrapper of European EMIs (some of which they own), there is a very high chance that the companies could be placed directly with those European EMIs and avoid the risk of holding the funds with this sort of bank (i.e., an entity which is legally allowed to lend out and invest your funds in various ways, and has less supervision than the said EU EMI).
Nonetheless, I think you︀ are also partially right because they can onboard for the pooled IBANs or dedicated IBANs︁ but through the BaaS, both of which are probably less scrutinized at the real issuer.︂
Nonetheless, I think you︀ are also partially right because they can onboard for the pooled IBANs or dedicated IBANs︁ but through the BaaS, both of which are probably less scrutinized at the real issuer.︂
Jeton is similar to The kingdom bank in terms of the solution. I think owned also by the same group. However, service wise based on our experience kingdom bank is much better
The Guardian Bank, Jeton Bank and The Kingdom Bank. They all have the same registered office address in Dominica.
The question is, why go to the cost and trouble of acquiring THREE banking licences when you can handle everything under one banking licence?
The question is, why go to the cost and trouble of acquiring THREE banking licences when you can handle everything under one banking licence?
Its quite legit tbh, wanted to give my two cents. Recently opened an account with them and assigned account manager was quite helpful. It did seem sketchy at first, but after getting into it I had no issues or whatsoever. Only issue is high prices, but I run a high-risk business so within the sector these prices are totally fine. Would recommend to anyone who has doubts.
I find it strange that they hide their pricing the way they do. I cannot find it, though I am sure it must be somewhere on the site.
Does anyone know the cost to open an account and the ongoing fees for keeping one? Are there any links to a page with their full pricing?
Does anyone know the cost to open an account and the ongoing fees for keeping one? Are there any links to a page with their full pricing?
Correct 1000 to open an account 500 to get SEPA and 150 per month
But what do you expect they accept high-risk businesses and deal with crypto if you look at any other banks who deal with crypto high risk etc... are not cheap...
Thinking of opening an account, however not sure should as I'm not sure how good they are
But what do you expect they accept high-risk businesses and deal with crypto if you look at any other banks who deal with crypto high risk etc... are not cheap...
Thinking of opening an account, however not sure should as I'm not sure how good they are
Three types of people and im considering it to be honest.
1. Companies that are in jurisdictions that have hard time getting bank accounts.
2. High risk Industries companies.
3. Someone looking to cash out crypto as very few banks that deal in crypto.
Im under both 1 and 3 and i know is not cheap but not that expensive ether i can afford it but can't afford a million deposit at a few swiss banks that deal in crypto.
And before someone mentions EMI i don't like them easier to open and︀ account and cheaper but also more unstable and prone to sudden account closures.
1. Companies that are in jurisdictions that have hard time getting bank accounts.
2. High risk Industries companies.
3. Someone looking to cash out crypto as very few banks that deal in crypto.
Im under both 1 and 3 and i know is not cheap but not that expensive ether i can afford it but can't afford a million deposit at a few swiss banks that deal in crypto.
And before someone mentions EMI i don't like them easier to open and︀ account and cheaper but also more unstable and prone to sudden account closures.
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