My bank in EU wants to contact me for btc related transactions

[lopez007]

I have a residency in one of the EU countries and have a bank account‌ there. Since last year, I made some Binance->Bank transactions(around 20k€) and apparently my bank wants‍ to know why I did it. (I got a mail from them)

What should I⁠ expect from next step? I am still not contacted by them with official call.

They will probably ask the source of bitcoin or altcoin etc but since the exchange I⁤ bought them vanished, not sure if I can prove how I obtained them.

Any idea⁣ or experience?

 

[JohnLocke]

When I got contacted by the bank I simply told them it was from a‌ former investment I made back in time 2013 or 2014 can't remember, so I told‍ them it will not going to happen again and that I have no coins in⁠ the wallet.

All they asked for was a screenshot from the wallet and I never⁤ heard anything after that. It's about a year since this happened.

 

[Martin Everson]

Your passport and bank plz? If not good passport‍ then....😕

Well they⁠ have not frozen your money immediately so that is always a good sign hap¤#". Just⁤ tell them the truth about everything and why you did it.

 

[lopez007]

My bank is ABN and my passport is from a middle east country. They didn't‌ freeze anything also.

I will be honest, thanks for suggestions!

 

[GPT]

Ah Dutch bank. ING does the same. Your passport doesn’t really matter tbh. I’ve come‌ across many similar stories. Exchange wise Kraken and binance do this all the time. NL‍ used to be a crypto friendly country where now it becomes more a case of⁠ you as a customer having to proof everything.

Keep accounts of everything you do. Screenshots,⁤ downloading xls / csv files and everything and be aware of filing your taxes correctly.⁣ Banks are sharing everything with the Dutch gov.

Most people in NL report cryptos in⁢ box3 at their tax declaration. Right now that is very beneficially taxed at 1.2% (it︀ is due to change). The threshold is 50k per person and 100k for a couple.︁ Speak to your tax advisor.

Edit

If I remember correctly there are issues with binance︂ in NL at the moment. Look into that as it might also explain on why︃ your bank is picky on these transactions.

 

[Wellington]

Most people seem to use a EMI in⁢ the middle, keeping all records, but then you have no issues with your main banking︀ provider.

 

[lopez007]

Just to given an update, we had call for couple of times, in total maybe‌ around 2hr of question/answering. At the end I didn't hear anything from them. Probably because‍ total transaction sum was on the smaller side (20K euro). But I will still wait⁠ and see if any update.