Transferewise and AEOI ?

[isp00rt]

Ok. Maybe TW is not under CRS right now, but what about its partner bank,‌ Barclays? Is Barclays closing their eyes while TW moves all that money from here to‍ there?

 

[Martin Everson]

Barclays is one of HMRC's home banks used for UK‍ tax collection 😳. I am sure HMRC is seeing everything at some level and can⁠ share intel with other states if they choose.

https://www.gov.uk/pay-self-assessment-tax-bill/bank-details

 

[Clip]

took me‍ a week to understand the joke 😉

 

[isp00rt]

That's what I guessed. This⁠ is why TW is NOT a way to avoid CRS, sadly. 🙁

 

[Clip]

What if you store it on USD, Eur, Aud or NZD balance?

 

[isp00rt]

I'm afraid I don't understand, sorry. Anyone can have an USD/EUR account on‌ TW. What do you mean?

 

[John Andrews]

He is asking if USD transferwise accounts are reported under CRS/AEOI.

My guess is yes.‌ Relying on non disclosure will get you in jail.

 

[Clip]

Thanks God I moved to HK

 

[isp00rt]

As I said in a previous post, TW confirmed they don't report under CRS. The problem‍ is its partner bank. They will do it for sure no matter what currency your⁠ account is in. 🙁

 

[kkein]

You saying that, even though TW⁠ claims it's not reporting, your TW account details (balance, movements, id, TIN, etc) are being⁤ automatically reported by its partner bank? If this were true, i see no reason for⁣ TW not to explain the situation as such.

 

[Benzouser]

I think the partnerbanks just reports the total balance of the⁤ pooled/shared IBAN of TW not to specefic account holder under TW.

 

[5K1PP3R]

My guess Bitcoin will shoot through the roof on further screws tightening and it does‌ already. If you think that we got used to it being over $1k that's crasy‍ enough. Stablecoins is not an option with 5% USD/EUR inflation these days. Besides USDT can⁠ fall any minute and it costs $30-50 to send DAI, the only decentralized stablecoin.
Inflation actually makes it pointless all index funds investments, inflation will kill all your profits.
Yes Bitcoin is crazy unstable, but it is a new digital money with limited supply and⁤ at the moment it doesn't have competitors. My only concern is governments can start killing⁣ or drugging the core developers