Mt Pelerin - personal IBAN

[JohnnyDoe]

Good news from Mt Pelerin:

We are excited to announce that the long-awaited personal IBANs are now available to all our users!

With this new feature, you can transform your self-custodial wallet into something more: a universal account that seamlessly sends and receives money across both blockchain and traditional banking networks.

It will allow you to:

• Receive bank transfers from anyone, directly converted in crypto in your wallet.
• Send bank transfers to anyone, using crypto from your wallet.

This evolution is a major step toward making self-custody more convenient and integrated into everyday life.

Let's dive in! 👇

Discover​

I applied for a EUR IBAN and I received the details after a few seconds.

BIC/SWIFT:
YAPECHZ2
Bank address:
Yapeal AG
Max-Hoegger street 6
8048 Zurich
Switzerland

 

[Rick]

Good stuff, am a big fan of Mt Pelerin. Pretty sure I was the first to post about them on OCT two or so years ago, glad it is still working for you 😀

 

[JohnnyDoe]

Good stuff, am a big fan of Mt Pelerin. Pretty sure I was the first to post about them on OCT two or so years ago, glad it is still working for you 😀

Post in thread 'What to do about frozen accounts'

Dec 2, 2022

denniz07 said:
Yes, hope the banks will die 🙂 worst expirience ever. Will always have some crypto on the side. For worst case.

Would be crazy to hold most of your net worth in crypto. Moving crypto isn't worth a lot if you can't use and invest it.
If you want to buy real estate or invest in real companies and stocks you have to go through the banks in most countries. Then the banks have your money and can block you anytime...
Click to expand...

It depends when you bought your crypto, if you are concerned about $ value.
Anyway, go with Cité Gestion + Mt. Pelerin, they are...

• JohnnyDoe

 

[Rick]

Thread 'Great tools for anonymity' Great tools for anonymity

This one 😉

 

[Marty McFly]

Can you really send and receive fiat to/from third parties?

 

[Fiscal]

Can you really send and receive fiat to/from third parties?

Would love to know as well. If so: that would make it really great

 

[Fiscal]

Really liking this so far. This company actually makes it possible to unbank yourself entirely (its their slogan after all). They basically onboard any country except for the heavily sanctioned ones.

Their app says they're developing a card. Would be a nice addition

 

[Fiscal]

Going to try to put this under my company's name and see if this works. Noticed it's possible as well, but requires a 10 min. videocall. If that's possible that means I could move anywhere and not worry about banking. Hoping they're reliable enough for larger sums though, we'll see. They seem to be.

 

[JohnnyDoe]

The videocall seems to be required when you want to increase the basic limits:

---

To increase your limits, you have reached a certain level of activity that requires an extra compliance step.

To do so, we will simply need to have a short recorded video call with you, where we will ask a few regulatory questions.

 

[CEO]

It's a good idea to integrate Bitcart as well

https://twitter.com/x/status/2001235145412764067

 

[Marty McFly]

It's a good idea to integrate Bitcart as well

So you use a self-hosted crypto gateway and then sell your crypto for fiat? 🤔

 

[Fiscal]

Brief update:

- My (personal) account was verified within a few hours (on a Sunday)
- I did some test transactions up to 25k. From a personal account and company account. Instantly credited. Both coming from brick and mortar + EMIs. It seem the EMIs don't give you a headache as they don't recognize the IBAN is Mt. Pelerin (it's under your own name after all).

- I emailed them with a question, quick response.

Now of course the real test comes from being a client for some months/years but I think it's a very solid company which is probably ran by some crypto fanatics themselves.

Would I dare to try transfer higher amounts? I don't know to be honest. I think 100k+ is the real test with most companies. I might try in the future. I'm holding as much BTC as I can now, which is always a good idea regardless, until the next bull market.

 

[CEO]

So you use a self-hosted crypto gateway and then sell your crypto for fiat? 🤔

+ Backup just in case.

 

[Fiscal]

I've tested a number of swaps, and they're quite fast. Transactions also work well, but there are some areas for improvement:

- It seems like every transaction has to be manually approved by their office. Sometimes I receive confirmation within an hour, but on the other hand, I've been waiting two days for confirmation of a SEPA transaction now for example.

- You can't enter a recipient when making a transfer. It's transferred to whatever account in your name... Pretty strange. So you're sending it to another person but it uses your name. That has worked so far but this is anything but ideal for larger amounts and B2B transactions. I'm sure it's a matter of time before a transaction gets rejected that way. And then good luck proving this wasn't a mistake.

 

[Fiscal]

Update: Simple SEPA transaction, low amount to personal EUR IBAN, pending for 5 days now. Have emailed operations. Considering this is a test transaction to see how their services work I'm disappointed.

 

[JohnnyDoe]

I prefer to avoid Switzerland at all for operational banking.
Mt Pelerin used to be a good option for fiat-crypto ramping thanks to their relationship with Citè Gestion. But today there are better and safer alternatives.

 

[Fiscal]

They replied:

"Thank you for reaching out. It looks like the payment has been declined by our bank because no address was provided for the beneficiary. Could you please provide us with the address of the beneficiary (NAME)?"

I replied with the details, they responded a few hours later:

"Thank you for your prompt response. We have sent the payment again, please let us know if you haven't received it within a couple of days. If you have more questions, just let me know and I’ll be happy to help. Have a nice day!"

Amount has now been received, 7 days after initial transaction. I have to say, they're not a monkey service desk, and they respond the same day. But they don't have a phone number or live chat.

And what also really bothers me is that I've never received a notification of their transaction rejection. It kept showing up as pending on their website. Had I known I could've taken action. I just had to discover that by chance. Even stranger is a transaction being rejected due to the lack of an address; I've never experienced that before.

Where it might've went wrong: I clicked on the IBAN as it showed up as previously used on their mobile app. It showed up in the list. Thinking it would recognize and reuse all the details. It seems it didn't. Definitely something they need to fix.

All things considered, I wouldn't trust this company with sending large sums of money back and forth. It would be too stressful. I have to give them the benefit of the doubt in this initial phase, where teething problems may need to be ironed out. But for now, I'll use a different service.

 

[Marty McFly]

As was already discussed, everything Swiss these days is 💩

 

[Tyrion Lannister]

I prefer to avoid Switzerland at all for operational banking.
Mt Pelerin used to be a good option for fiat-crypto ramping thanks to their relationship with Citè Gestion. But today there are better and safer alternatives.

Care to share some of them Johnny?

 

[JohnnyDoe]

Care to share some of them Johnny?

The best ones are outside the EU, of course. OTC companies in the U.S. and Canada (FRNT Financial) work well.
Kraken is always a good choice, also in Europe.
Xapo (Gibraltar) too.
With some patience and smaller amounts you can take advantage of the personal IBAN offered by many exchanges: Crypto exchanges with a personal IBAN