I'm just asking about virtual SMS services. Not too sure I want to use a free one. I guess a paid service would perhaps be a bit more secure?
Leupay personal account
- Thread starter realcat
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There are some good paid service here Offshore Business Discussion you could also look for your own SIM card.
Leupay reports automatically clients and account information to the tax authorities (CRS) the following information:
- The account holder identity;
- The account number;
- The year-end account balance;
- The income (interest, dividends, gross proceeds, etc.).
- The account holder identity;
- The account number;
- The year-end account balance;
- The income (interest, dividends, gross proceeds, etc.).
By the way, it seems to me that there is a bit of a hole in Leupay's KYC process. They don't seem to be verifying the actual place of residence of a person through utility bills, bank statements or such. They ask for the applicant's nationality, and insist on sending an SMS to a mobile with the prefix of that country. This really︀ makes no sense. A Portuguese can live in Vietnam, a German in Malta, a Chinese︁ in Canada...... And SMS can be spoofed. So basically, if you happen not to be︂ resident in the country of your nationality it seems to me that you can avoid︃ meaningful CRS reporting. They will report to "your" country but not to the one you︄ live in, which is the primary concern. Am I getting this right?
Just to clarify, I 'm speaking from my experience of opening a corporate account. I have not completed the procedure yet but so far it does not appear that they require verification of my personal place of residence. Maybe this will come later in the process?
And sorry, I realize this thread is about personal accounts, so I shouldn't have made this comment.
And sorry, I realize this thread is about personal accounts, so I shouldn't have made this comment.
On the Leupay personal account faq they do indeed require ID/passport and you can use a utility bill, but they give other options for the latter: "one of the following - to upload a document, which proves your address; or, to fund your LeuPay account via a bank transfer; or, to fund your LeuPay account via a verified, stored in your LeuPay debit/credit card."
So it seems a utility bill is not necessary, you can use a bank transfer or 'verified' card. Anyone had experience of using a transfer or card instead︀ of utility?
So it seems a utility bill is not necessary, you can use a bank transfer or 'verified' card. Anyone had experience of using a transfer or card instead︀ of utility?
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