Remote EU bank (no EMI) account

[neu13]

I don't live in the Eurozone and Euro accounts are⁣ expensive to operate. SwissMoney is ridiculously expensive. I've got several EMIs and this time I⁢ wanted insured bank accounts.

 

[jafo]

Where you are‌ a resident, do they not offer insured bank accounts? 🙄

 

[neu13]

I live in Hungary and nobody trusts the country or the banks here.‌ The government charges a 0.3% tax on bank transfers (this comes on top of the‍ bank's fees) and half of the banks are owned by the ruling party's family and⁠ friends. One of their banks failed already, where I had an account. I suffered no⁤ loss, but a lesson learned.

 

[Sols]

Stick to crypto friendly financial institutions. "Normal banks" aren't more crypto friendly. Most⁤ are still very old fashioned and wary of crypto. No bank in Cyprus will touch⁣ you, for example.

 

[ilke]

What's the issue with OTP Bank, for⁣ example? I had an account for myself and for a foreign company there, and they⁢ didn't charge anything for EUR accounts; I never had issues with them, either. I'm not︀ that informed about HU; I'm from SK and didn't know there was such an issue︁ with banking there. Hungarian accounts are still insured, though, regardless of currency. Why don't you︂ go for a crypto exchange + EMI - Kraken (Irish EMI with Luxembourg dedicated IBANs),︃ Spectrocoin (Lithuanian VASP and EMI with Lithuanian dedicated IBANs). They are both free for personal︄ accounts, and Spectrocoin can give you a debit card as well.

 

[neu13]

Any experience with frozen accounts? Revolut's wording is confusing,⁠ it suggests maybe some authority requested the account to be frozen or maybe it was⁤ them, because I just added money with my other EU card a few minutes prior⁣ it was frozen. Have been using Revolut a lot, moving money to my other EMI⁢ accounts. Received money from crypto P2P deals and lots of customers say their account was︀ frozen because some scammer is asking for the money back.

I have local accounts don't get me wrong, but I am not︉ keeping my Euros here. Diversification.