Opening a bank account remotely

[n4x]

Hello everyone,

I'm trying to move some of my money out of the country as it's becoming more and more unsafe to keep money in the banks here with every passing day.

Since I'm not an EU resident, I noticed that my options are very little to actually be able to open a remote bank account.

I'm not planning to move a lot of money, (around $20K) and I was wondering if there are any banks which would just let me make a savings account without having to trade or anything.

So far the banks I've managed to find are Dukascopy, Swissquote, and Strateo/Keytrade, which I believe allow applications from non EU residents.

I've read a lot of the threads about this matter on this forum, but I'm still not quite sure so it would be very helpful if anyone has information about this.

What I'm mainly looking to know is whether Swissquote (in Swissquote application form there is an option for Savings but I'm not sure if they actually accept these requests) or Strateo allow accounts only for savings purposes, and more bank alternatives that I can look at.

This forum already has helped me to learn a lot, so thanks to everyone already hap¤#"

 

[Fajosst]

I'm in the same boat, I've been approved and I have bank accounts at Swissquote and Dukascopy.

So far I don't know where I could get other bank accounts remotely. We will probably have to travel to Europe and open an account personally, but I am willing to hear about other alternatives.

I know it is possible to create a bank account with the help of an introducer in Mauritius for example, but I personally prefer Europe.

 

[n4x]

Fajosst said:
I'm in the same boat, I've been approved and I have bank accounts at Swissquote and Dukascopy.

So far I don't know where I could get other bank accounts remotely. We will probably have to travel to Europe and open an account personally, but I am willing to hear about other alternatives.

I know it is possible to create a bank account with the help of an introducer in Mauritius for example, but I personally prefer Europe.
Click to expand...

How much did you have to deposit to make an account at Swissquote (if it's not private) and did you only check the box for Savings when you made the application or are you also trading?

 

[Fajosst]

n4x said:
How much did you have to deposit to make an account at Swissquote (if it's not private) and did you only check the box for Savings when you made the application or are you also trading?
Click to expand...

I made it clear it was a savings account. I don't use it for trading purposes, but I have this option available.

They didn't ask me for any deposit, I created the account in January 2020 and made my first deposit in June 2020, they never said anything about it.

It's a personal account.

 

[n4x]

Fajosst said:
I made it clear it was a savings account. I don't use it for trading purposes, but I have this option available.

They didn't ask me for any deposit, I created the account in January 2020 and made my first deposit in June 2020, they never said anything about it.

It's a personal account.
Click to expand...

Thanks for all the information 🙂

I will be sending in an application soon and see how it goes then, Swissquote is my primary choice because they look like the biggest/safest bank out of the three I listed, and Dukascopy feels like more of a last resort.

I've been looking over Dukascopy financial reports and the bank is barely turning a profit (they actually ended in the - in 2018) which makes me wonder if they'd go into insolvency at some point.

Would you happen to know if we are protected by the 100K CHF deposit guarantee in the case the bank goes bust as non-EU residents?

 

[aquarius]

If you just want to park some funds you can do Interactive Brokers. Account opening online.

 

[Fajosst]

n4x said:
Thanks for all the information 🙂

I will be sending in an application soon and see how it goes then, Swissquote is my primary choice because they look like the biggest/safest bank out of the three I listed, and Dukascopy feels like more of a last resort.

I've been looking over Dukascopy financial reports and the bank is barely turning a profit (they actually ended in the - in 2018) which makes me wonder if they'd go into insolvency at some point.

Would you happen to know if we are protected by the 100K CHF deposit guarantee in the case the bank goes bust as non-EU residents?
Click to expand...

As far as I know, we're protected by the 100K CHF deposit guarantee.

Dukascopy is my secondary bank too, unfortunately there are very low limits. I cannot receive more than $4K USD per quarter and it took weeks to approve a transfer.

Swissquote has no limit and no questions asked.

 

[n4x]

aquarius said:
If you just want to park some funds you can do Interactive Brokers. Account opening online.
Click to expand...

I've been reading about them as well, not a real bank I think but they're quite big so it should hopefully be safe.

Fajosst said:
As far as I know, we're protected by the 100K CHF deposit guarantee.

Dukascopy is my secondary bank too, unfortunately there are very low limits. I cannot receive more than $4K USD per quarter and it took weeks to approve a transfer.

Swissquote has no limit and no questions asked.
Click to expand...

@Fajosst Which option did you choose when you made the account? Just trying to make sure I go down the right path hap¤#"

I tried to post a picture but it told me the post needed moderation approval or something, the options are Trading / Robo-Advisory / Forex account when you go to the account opening page in their site.

I've heard about the Dukascopy limits, supposedly they lift the limits if you show them proof about your income or something, but not exactly sure if they actually stick to their word on that.

 

[Fajosst]

n4x said:
I've been reading about them as well, not a real bank I think but they're quite big so it should hopefully be safe.



@Fajosst Which option did you choose when you made the account? Just trying to make sure I go down the right path hap¤#"

I tried to post a picture but it told me the post needed moderation approval or something, the options are Trading / Robo-Advisory / Forex account when you go to the account opening page in their site.

I've heard about the Dukascopy limits, supposedly they lift the limits if you show them proof about your income or something, but not exactly sure if they actually stick to their word on that.
Click to expand...

It's been months since I opened the account, I'm really not sure what I selected at the time. But I remember selecting some option regarding the savings account, I always made it clear that this was one of my goals in using SQ.

From what I see in my account, I believe I selected 'Trading' among the options you mentioned.

 

[Garret Gates]

n4x said:
Hello everyone,

I'm trying to move some of my money out of the country as it's becoming more and more unsafe to keep money in the banks here with every passing day.

Since I'm not an EU resident, I noticed that my options are very little to actually be able to open a remote bank account.

I'm not planning to move a lot of money, (around $20K) and I was wondering if there are any banks which would just let me make a savings account without having to trade or anything.

So far the banks I've managed to find are Dukascopy, Swissquote, and Strateo/Keytrade, which I believe allow applications from non EU residents.

I've read a lot of the threads about this matter on this forum, but I'm still not quite sure so it would be very helpful if anyone has information about this.

What I'm mainly looking to know is whether Swissquote (in Swissquote application form there is an option for Savings but I'm not sure if they actually accept these requests) or Strateo allow accounts only for savings purposes, and more bank alternatives that I can look at.

This forum already has helped me to learn a lot, so thanks to everyone already hap¤#"
Click to expand...

Swissquote is a good if you plan trading/forex and etc, it's not good option for saving account. If you park 20k, Dukas is good option, they are almost free in maintenance + 100% security cover up to 100k. Last option is CIM Banque, their service is excellent like any private banking, but fees are around 90€ per quarter and no questions, love them!

n4x said:
Hello everyone,

I'm trying to move some of my money out of the country as it's becoming more and more unsafe to keep money in the banks here with every passing day.

Since I'm not an EU resident, I noticed that my options are very little to actually be able to open a remote bank account.

I'm not planning to move a lot of money, (around $20K) and I was wondering if there are any banks which would just let me make a savings account without having to trade or anything.

So far the banks I've managed to find are Dukascopy, Swissquote, and Strateo/Keytrade, which I believe allow applications from non EU residents.

I've read a lot of the threads about this matter on this forum, but I'm still not quite sure so it would be very helpful if anyone has information about this.

What I'm mainly looking to know is whether Swissquote (in Swissquote application form there is an option for Savings but I'm not sure if they actually accept these requests) or Strateo allow accounts only for savings purposes, and more bank alternatives that I can look at.

This forum already has helped me to learn a lot, so thanks to everyone already hap¤#"
Click to expand...

Btw, Keytrade doesn't open bank account if you're Russian or CIS citizen, they are not retail bank and they are focusing for trading/forex and etc. as well!!

 

[CaptK]

Crypto, no questions asked, no CRS, FACTA or anyone else in your business. A steady appreciation if your looking to park it long term.
Or good old gold bars under your mattress you can check on it every night.

 

[n4x]

Garret Gates said:
Swissquote is a good if you plan trading/forex and etc, it's not good option for saving account. If you park 20k, Dukas is good option, they are almost free in maintenance + 100% security cover up to 100k. Last option is CIM Banque, their service is excellent like any private banking, but fees are around 90€ per quarter and no questions, love them!
Click to expand...

Why do you think they're not a good option for saving?

As far as I know they don't have any maintenance fees or anything so it should be alright.

I've also checked CIM Banque but not sure if I want to be paying 90eur/quarter for practically nothing, but it's a good option to have if push comes to shove.

Garret Gates said:
Btw, Keytrade doesn't open bank account if you're Russian or CIS citizen, they are not retail bank and they are focusing for trading/forex and etc. as well!!
Click to expand...

Not a Russian or CIS citizen, hopefully I should be fine hap¤#"

 

[n4x]

CaptK said:
Crypto, no questions asked, no CRS, FACTA or anyone else in your business. A steady appreciation if your looking to park it long term.
Or good old gold bars under your mattress you can check on it every night.
Click to expand...

Crypto is too volatile though, unless you go with a fixedcoin like Tether I guess. Not sure if it can be trusted in the long run honestly, you never know.

Gold bars are definitely an option 😀

 

[clemens]

possible solution, convert your money to Crypto, for instant Tether, USDC or similar, I know very well some people here sya it's a big no go, but for now it's some of the most valid options around. Once you have the money in crypto you can move it as you like, for instant into AdvCash or other EMI like Transferwise.

Toggle signature
One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity

 

[Garret Gates]

n4x said:
Why do you think they're not a good option for saving?
Click to expand...

I was visiting them in GVA while my vacations (btw Swissquote and CIM are located 10 mins by walk to each other) and I was told that they're (Swissquote) interesting in trading or any investments in bank product. But anyway I know exactly they maintenance about 20€ per month for saving account. Check their website, maybe any updates occurred.

 

[n4x]

Garret Gates said:
I was visiting them in GVA while my vacations (btw Swissquote and CIM are located 10 mins by walk to each other) and I was told that they're (Swissquote) interesting in trading or any investments in bank product. But anyway I know exactly they maintenance about 20€ per month for saving account. Check their website, maybe any updates occurred.
Click to expand...

@Garret Gates Maybe they changed that because I haven't heard anyone talk about fees with Swissquote. I will try to find information about it.

@Fajosst Do you happen to know anything about the fees?

 

[Fajosst]

n4x said:
@Garret Gates Maybe they changed that because I haven't heard anyone talk about fees with Swissquote. I will try to find information about it.

@Fajosst Do you happen to know anything about the fees?
Click to expand...

in my account I have no maintenance fees
you will have to do an identity check via video call, you can ask this to make sure there will be no monthly maintenance fees for you either.

 

[Garret Gates]

Fajosst said:
in my account I have no maintenance fees
you will have to do an identity check via video call, you can ask this to make sure there will be no monthly maintenance fees for you either.
Click to expand...

Sorry for question, do you use current account in Swissquote? i.e no any trading/forex and etc.

Fajosst said:
in my account I have no maintenance fees
you will have to do an identity check via video call, you can ask this to make sure there will be no monthly maintenance fees for you either.
Click to expand...

I just want to understand if they open a current account now without any fees.

 

[reesek]

i vouch for euro stable coin in this setup
and you can buy it with your card and keep it

 

[Clip]

n4x said:
I'm trying to move some of my money out of the country as it's becoming more and more unsafe to keep money in the banks here with every passing day.
Click to expand...

US Treasures, German Bunds in a reputable broker like IB.
If you want to be safe but having some volatility risks, then buy physical gold or virtual store in Singapore. Ensure to buy it with bank transfer as the moment you sell it back they could start asking questions about where you got the gold from.

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Expat in Hong Kong - There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt. - John Adams