what will happen if funds in my emi business account grows big

[joeytamlovebusiness]

for example if my funds in paxum business account grow big,will there be any limits for my account to grow? For example, can i put a billion Usd in paxum?

if yes, then why would i need a bank account?

 

[anotherone]

You should open several EMI accounts in Europe and make SEPA transfers from Paxum to‌ those EMI accounts.

It is a mistake to deposit 1 million dollar in one location.‍

 

[CaLViN]

I would not keep more than 50k on a EMI account to sleep well at‌ night.

 

[Mr Magoo]

open a brokers account and stash it there or invest it in stocks/bonds etc

 

[joeytamlovebusiness]

Nice to meet u anotherone, i know that emi for⁠ example paxum doesnt gurentee return of funds if they get bankrupt , so it makes⁤ less safe than traditional bank, but some famous have been opeining for many years ,⁣ seems they wont bankrupt suddenly.

So how about another situation, will they fozen my account⁢ suddenly when my account grows big while the tradition bank wont do it ?

 

[joeytamlovebusiness]

Nice to meet u Calvin, why would u say‍ that?
what happen if u keep more than 50k on an emi account?

 

[anotherone]

@joeytamlovebusiness Did you‍ see what happens to epayments.com?

Epayments suspended all accounts since 11 of February 2020.
On trustpilot, a woman by the name of Jessica said that she has a 5 figure⁠ account on epayments. Thise means that Jessica can't withdraw money from her account. It means⁤ that Jessica can't use her epayments credit card.

 

[KJK]

EMI money is "digital money" which means something else than money in a regular bank‌ which e.g. in the EU or in US is insured up to €100k or $250k‍ respectively. With EMI it is all about trust.

In short, no. Paxum will block you even with 0.0001 % of that amount and will⁤ require documentation or they will tell you to f**k off and close your account. It⁣ is much easier for EMI to block your money, bank usually allows you more.

 

[joeytamlovebusiness]

what kind⁢ of documentation they usually ask u to give?

 

[JohnLocke]

The entire topic is ridiculous who with 1 BILLION USD use and EMI ?

Does anyone read what he wrote?

If you have this sort of money you can buy a bank or⁤ open one at your own.

 

[joeytamlovebusiness]

its a analogy , mr admin

 

[JohnLocke]

Great, I have moved this thread to the proper forums.

 

[VIKTORRAD]

Which brokers account do you have in mind for large‍ sums?

 

[Spinat]

You don't want to have large amounts in just one EMI account you want to‌ split the money into several different EMI's and banking facilities.