swissquote for personal crypto cashout

[010cents]

Opps, no idea how I‍ missed that. I'll send them an email and see if they accept incoming transfers from⁠ crypto exchanges.

 

[botero]

I would recommend exchanging your crypto to fiat at a regulated exchange first (e.g. Kraken,‌ Bitstamp) and then sending the EUR to your SQ account through a SEPA transfer.

Depending on the amount you send, you may be asked to provide more details regarding your‍ source of funds. It's good to keep really good records of all of your crypto⁠ activity and have a good explanation of how you earned everything.

See my post here for more details on my experience with SQ in cashing out crypto.

 

[010cents]

Thank you for the reply. SQ does not accept incoming transfers unless they're⁢ from a bank account under the name SQ account is in. Kraken and Bitstamp will︀ send them under their name.

 

[JohnnyDoe]

010cents said:
Opps, no idea how I missed that. I'll send them an email and see if they accept incoming transfers from crypto exchanges.
Click to expand...

They don't. You should follow the scheme I described.

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[010cents]

Any suggestions on the EMI? I've been running into brick walls with those.

 

[JohnnyDoe]

010cents said:
Any suggestions on the EMI? I've been running into brick walls with those.
Click to expand...

Easiest option for you is that you go to Italy and open a bank account there

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[010cents]

Thanks man, working on it this week.

 

[Bill D]

Is it new ? Seem people used⁠ to be able to do it.

 

[RobertNozick]

What about a US LLC + Mercury setup?

 

[010cents]

Someone suggested‌ that I should stay away from US a while ago and I've done that since‍ then. I'd have to pay taxes too.

 

[botero]

I never encountered this issue with Sepa⁠ transfers from Kraken to SQ Switzerland. Perhaps SQ changed their policy recently? My last transfer⁤ from Kraken to SQ was in late 2021 and was in the 5 figure amount.⁣

 

[010cents]

This is where⁠ it says they do not accept payments from third parties. I don't know if they⁤ changed it recently: How to Deposit Funds into your Forex Account | Swissquote

 

[BlueMist]

Kraken’s Bank Frick SEPA -> Flowbank

 

[010cents]

Going for it now.‌ Are you using Flowbank and if you are have you ever had any problems with‍ them? Thank you.

 

[BlueMist]

I opened account‍ 1 year ago and deposited funds from Wise. I did not use them much to⁠ be honest since then, however they have improved online banking lately and you can properly⁤ submit 3rd party transfers. So I did my 1st transfer out from Flowbank to Kraken's⁣ Bank Frick and it arrived within 1 hour:

https://www.offshorecorptalk.com/threads/review-of-flowbank-new-swiss-bank.32193/page-5#post-212479

 

[010cents]

Thank you. I'll be doing Kraken > Flow and from some other exchanges,⁤ only first transfer has to be from a bank account in my name.

 

[010cents]

Account verification is still pending. Has been since Thursday. Hopefully it will be verified tomorrow‌ even tho I might end up never using it because of their very low cryptocurrency‍ trading volume.

 

[Aushaven]

From swissquote FAQs, deposit of >500k USD needs to contact customer service. Is this one‌ transaction or cumulative?

 

[PinkCat]

Can someone confirm if Swissquote accept or not incoming wires from exchanges like Kraken? See‌ mixed opinions above, so wondering what is the real situation in 2023?
Also which swissquite‍ you use, com, lu, or ch version?

 

[diatessaron]

They only allow‍ transfers from accounts that have the same name. You wouldn't be able to send from⁠ Kraken to SQ.