UAE banking and crypto

[PinkCat]

Is swissquote even a bank? Last time I checked it was more like a broker?⁤

There are currently 3 crypto friendly swiss banks, but from my last experience wiring to⁣ Dubai is problematic sometimes. Takes 2 weeks for a SWIFT and usually there is a⁢ investigation/questions. Money arrived eventually but was stressful.

 

[uranium]

May I ask⁤ how about sending from dubai to swiss banks
How was your experience

 

[PinkCat]

I have not had the need to do that yet.‍ Probably won't need to soon. So sorry.

 

[JoeyMess]

How was the onboarding process‍ with these banks?

 

[PinkCat]

If you‌ are really rich and legit it is generally easy, video interview, answer bunch of questions‍ about SoF, provide bunch of documents about SoF depending on your unique situation and its⁠ all done.

 

[Thomas67]

They're bank too⁤ now.
Never had any issue with wires personally, with limited amounts though.
Astonishing you had⁣ such issues, wouldn't investigations/questions come from the receiving bank usually?

Which interest do you see in having more privacy, if︁ you're AML and tax compliant?
Sure for that purpose. Swissquote (or any other close option)︂ is now a bank too apparently.

But where I can see an advantage for other︃ Swiss banks (incl. those you're thinking of) is the deposit protection, their financial solidity and︄ related metrics, etc...

 

[PinkCat]

Hm I'll give swissquote a try then. Thanks.
investigation was by the correnspondent bank︀ of the swiss bank.

 

[zaybxc]

Do they‌ keep your crypto wallet address private or is there the risk to find your name,‍ wallet balance and transactions publicly available on the internet through some deanonymizing tool like Arkham⁠ Intelligence?

 

[Rotor]

Yes Credit Suisse was very solid financially...
And UBS bitching about capital requirements‍ is surely a sign of strong financial solidity too...

https://www.reuters.com/business/fi...out-new-capital-requirements-talk-2024-04-24/

 

[rm777]

Thanks for the︆ reply. I will DM.

 

[rm777]

Just want to︆ give everyone a heads up:

I messaged this person and they said they require a︇ minimum of 3 million before they can tell you what the bank is.
Not sure︈ what kind of scheme they are running but "yeah bro I can tell you the︉ bank but only if you are ready to deposit 3mm" does not seem legitimate to︊ me.

Maybe they want some sort of referral kickback (which I am not sure Swiss︋ banks even offer as it would be negative for their reputation) that they would not︌ get otherwise or maybe it is a very small bank (which would therefore likely not︍ have a well established Swiss reputation in the first place) that is only accessible to︎ referrals. If not these two options, what else could be the reason for such secrecy?️ Any legitimate bank with a solid reputation would not need to engage in these shady‌ third-party referral backchannels where you get referred but only if you have millions that you‍ are ready to deposit. Gonna write this off as a scam.

It does seem that⁠ crypto-friendly banks in Switzerland really are the best option for the purposes of my OP:⁤
https://www.ulam.io/blog/the-best-crypto-friendly-banks-worldwidehttps://www.21analytics.ch/blog/swiss-banks-accounts-vasps/

 

[Mercury]

Indeed.
Anyone who can deposit several millions $ from legit crypto will certainly be⁣ able to open an account contacting directly a high street or private bank in CH,⁢ SG or HK. No middleman is needed.