Which bank should I use for high volume of transaction

[polloneis]

Hello,

I am trading with cryptocurrencies and sometimes I need to move my money from exchanges to my bank account and then send the money again to another exchange. Therefore, I'm constantly moving in and out my money from my bank account (We talk about 500k out and 500k in monthly).
I tried revolut as my intermediate for my operations, they asked me for documents to justify my movements and I sent them everything but I end up by getting my account closed.
Then I talked with a real bank from my country and I explained them what I want to do and they told me that probably the system will flag my account at some point. I'm worrying that I end up with the same situation as revolut.

I'm living in Spain. Is there any bank that you recommend me for doing this kind of operations? Do you think that with a real bank I could get my account closed even though I justify everything?

Thank you in advance!

 

[Gediminas]

Hey,

Without a doubt - Bankera. It's a crypto-friendly financial institution with one of the best pricing in the market. They provide SEPA instant transfers as well.

With my help, you could have a private banking feeling, so feel free to email me and discuss it further.

P.S. forget about retail/private banks. They will be too slow, too problematic, and too costly.

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[Martin Everson]

polloneis said:
I'm living in Spain. Is there any bank that you recommend me for doing this kind of operations? Do you think that with a real bank I could get my account closed even though I justify everything?
Click to expand...

It's not a bank but have you tried Aximetria as they handle big transactions in Premium+ plan? They allow withdrawing to bank and third-parties also.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[polloneis]

Martin Everson said:
It's not a bank but have you tried Aximetria as they handle big transactions in Premium+ plan? They allow withdrawing to bank and third-parties also.
Click to expand...

It seems that they have considerable fees for transactions so it's not the best option for me.
I appreciate your suggestion Martin.

 

[polloneis]

Gediminas said:
Hey,

Without a doubt - Bankera. It's a crypto-friendly financial institution with one of the best pricing in the market. They provide SEPA instant transfers as well.

With my help, you could have a private banking feeling, so feel free to email me and discuss it further.

P.S. forget about retail/private banks. They will be too slow, too problematic, and too costly.
Click to expand...

I'm very interested in Bankera as it seems to fit perfectly with my needs. I will contact you for sure, thank you very much Gediminas.

 

[Sols]

ConnectPay is used by many if not most crypto exchanges licensed in Estonia. No problem moving large sums of money through them. Definitely worth comparing their fee structure to Bankera to figure out how much each one costs in your particular use case.

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This is the probably the answer to your question.

 

[Member]

Being a cryptocurrency trader, you don't necessarily need to cash-out and cash-in your cryptocurrency from/to fiat for the purpose of shifting to other exchanges. Most of the exchanges that support OTC trading are accepting cryptocurrency itself as deposit and withdrawal method. Unless you are trading cryptocurrency as CFDs, that's another point.

Last edited: Aug 28, 2021

 

[uplana]

Fidor bank could be an option for you depending on what company and business setup you have.

Alternative I would try to cooperate with some of the existing crypto exchanges or lure what banks they may be using. Look for instant at AdvCash who they are using.

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[Marios]

I know a money transfer institution in France that can handle it such payments. Let me know if you are interested

 

[uplana]

Marios said:
I know a money transfer institution in France that can handle it such payments. Let me know if you are interested
Click to expand...

There are many, I know several too, which one do you have in mind?

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