Towerbank International in Panama?

[janissary]

Surprised that it hasn't featured here, but saw a lot of discussion on Twitter about Towerbank International in Panama for digital nomads and crypto individuals.

Anyone had experience with it?

 

[Clank]

Do you work or are related to them?

I wasn’t able to find any kind‌ of discussion about this bank anywhere.

 

[Sols]

https://www.offshorecorptalk.com/threads/crypto-friendly-bank-in-panama-towerbank.41916/
https://www.towerbank.com/en/ikigii
Opening the account is relatively easy compared to how account opening tends to‌ be in Panama. They have improved the product since that earlier thread. It was initially‍ limited to residents and rather low limits. I don't know any VIP clients with large⁠ turnover using the account, but from what I've heard it seems fine. It hasn't been⁤ quite the massive success they had hoped for, though.

 

[janissary]

No relation, just trying‍ to find out whether it's any good.

 

[alain]

What's your thoughts about this bank, good or no go ? 6 figures to deposit‌

 

[JackAlabama]

I wouldn't bank voluntarily in Panama even if Id got paid (Im a long time‌ resident).

 

[Clank]

I just spoke today with them, for 6 figures I‍ would look for a better bank. This bank is thought for South American countries that⁠ need to move their savings to USD because inflation. They don’t offer any investment services,⁤ private banking or any kind of perks for high balance accounts.

 

[gyorgy]

I tried to open account for panamian co, simple holding, no shady anything and was‌ declined. Eve though I used an intorducer

 

[EliasIT]

Is it still a bank you would trust for larger sums and daily use for your⁣ business, or would you not recommend them for that kind of purpose?

 

[French]

Same here. What's‍ wrong with them?

 

[linusAG]

Interesting, They even have a strong USD correspondent bank network:

https://cdn.prod.website-files.com/...Transferencias_ Internacionales_Towerbank.pdf

 

[JackAlabama]

its a panama bank.‌ thats reason enough.

 

[Napoleonik]

I'm based in Panama.‌ Some banks are still convenient and flexible for offshore banking, it depends on what bank‍ you approach, honestly. That said, ever since the Panama Papers fiasco, the banking regulator has⁠ gone overboard with absurd requirements, fueled by the OECD and the EU's unrealistic compliance expectations.⁤ The matter should turn around soon enough.

 

[MrGoodman]

Does anyone know any Panamanian banks that may open account for a Costa Rican IBC?‌

 

[PMbx]

mmg with a connector probably will, it always depends on‍ what the IBC does

 

[PMbx]

thats a bit‌ of an exaggeration I would say. Unless you don't speak Spanish at all, in that‍ case I can understand your point

 

[PMbx]

Towerbank is famous for being crypto friendly. For daily use⁠ in local activities is not convenient since it does not allow Yappy. It is also⁤ good for investing in the local stock market.

 

[MrGoodman]

Do you happen to know any local introducer working with that‍ bank?

 

[PMbx]

Try with Morgan & Morgan, since they are shareholders of the bank

 

[Piano]

The lawyer firm ?
Cost for this introduction ?