Searching for Crypto Exchangers with IBAN that are not flagged by commen european banks

[Moskva777]

Hi guys,

my italian banks are having huge problems with processing my payments to crypto exchangers like binance and kucoin. The problem is, that most banks already know these BICs and IBANs of crypto exchangers and raise the likelihood to just block the account.

If someone can help with an alternative that would be great and I would even pay for consistent information.

Greets

 

[Bruce flea]

XBO

 

[Moskva777]

What IBANs do their offer? What BIC or country?

 

[Houdini]

https://www.xbo.com/

Interesting service, are they new since they won't have been flagged by the banks‌ yet ?

 

[Bruce flea]

Cyprus - BIC: ISEMCY22

 

[Bruce flea]

Not sure to be honest I used them‍ last week for the first time, The onboarding was complicated a bit took like 3⁠ weeks
but the service is pretty good and cheap
Took 1 hours from sending sepa⁤ to Crypto

 

[W Fish]

Wouldnt it be easier to find⁣ a bank(s) that allow such transactions? If transfers to exchanges / for ctypto are not⁢ allowed, then the consequences will be worse if they find out. They will.
Or use︀ P2P.

 

[Moskva777]

How should I use P2P, which platforms can you recommend?

 

[Spinnaker]

Hi Moskva777,

That's nothing new. Money that you move to an exchange is money that‌ the Bank System / States can't easily control.
Try a crypto friendly EMI like Bankera‍ or other similar to interact with your exchange.
Good luck!

 

[Fred]

You can look into Wallets issuing IBAN's in your Name like Wirex, Crypto.com etc. they‌ issue usually an OpenPayd Malta IBAN under your Name so for your Italian Bank it‍ looks like an Own Account Transfer.

The Problem with Crypto Exchanges giving you a Deposit⁠ Account in the Exchange Name is that at some point and size of the Crypto⁤ Exchange your Italian Bank will flag it as Crypto Exchange and Block Transfers.

As mentioned⁣ earlier another option is to put a Crypto Friendly EMI in-between your Italian Bank and⁢ a Crypto Exchange Deposit Account or if you look for a fully fledged Bank Account︀ which is fine with Crypto related Payments to Exchanges you can look into Swissquote as︁ well.

 

[Bruce flea]

Correct
XBO give you account under your name too.︂
but yeah there is alot of options out there with EMIs

 

[BarleyMalt]

You can use this. It's in euros, they create an IBAN with your name, so‌ your bank sees it as a personnal transfer. https://monerium.com/

 

[cckuhqilfownnfctux]

problematic jurisdiction + problematic bank, but YMMV

 

[polka]

I got a MT OpenPayd.‌

Do they send withdrawals from the named vIBAN? Or does the EUR appear to come‍ from XBO?

 

[Bruce flea]

Yeah now you‍ get both, Cyprus Iban Under XBO Holding company and vIBAN Malta , Off ramping will⁠ come from the Malta Iban / Your Name

 

[TheCryptoAnt]

Nexo

 

[polka]

I asked XBO support on Telegram, and this was their answer:

Did you have to do that, or did it happen automatically for you?

 

[Bruce flea]

Yeah you have to add the comment thats all , sorry I didnt mention that‌

 

[boomy]

also good for larger amounts ?

 

[polka]

I have found that uphold.com issues Estonia vIBAN from LHV for EEA residents. The EUR‌ withdrawals come from that vIBAN by default, and, best of all, there are no transaction‍ references in the description (unlike XBO), so this is closest that I have seen to⁠ appear as originating from your own bank account. I think you may even be able⁤ to add your own reference (as per the withdrawal interface) but have not tested yet.⁣ You need to deposit from the receiving account before being able to withdraw, but no⁢ reference is required or can be omitted, so appears as own account even when outgoing.︀ Their limits are 25,000 EUR per day, 175,000 EUR per week and 700,000 EUR per︁ month for EEA residents. Have not requested an increase yet.

XBO appears to have SEPA︂ Inst, but I think they process the withdrawals by hand, but it works well during︃ business hours. Their support is great on Telegram and via emIl. XBO have a withdrawal︄ fee of 12.5 EUR. They will request a bank statement before your first withdrawal is︅ processed.