Which banks accept high risk clients in 2020?
- Thread starter JustAskin
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Well, I have the account in this bank as well. Sure, I remember 2 cases when I had troubles with receiving money from N. Cyprus bank, but apart from that, I am satisfied with the banking experience.
Their swift works just fine; it could be faster.
Their swift works just fine; it could be faster.
Not bad. I have been working with them for years. The last time I tried to open an account with them was in 2017 where it was difficult, if not impossible, to open an account for company actually registered in Cyprus.
False. I've been kicked out of 3 banks already because of this.
My business is 100% transparent but banks simply don't like forex/gambling related payments. Even if it is just a marketing fee.
If I don't tell them what I do exactly, this will just delay the "kick out". But eventually after 2-3 years︀ they will find out.
BTW Bank of Cyprus also doesn't accept affiliates.
My business is 100% transparent but banks simply don't like forex/gambling related payments. Even if it is just a marketing fee.
If I don't tell them what I do exactly, this will just delay the "kick out". But eventually after 2-3 years︀ they will find out.
BTW Bank of Cyprus also doesn't accept affiliates.
Clients’ funds are segregated from the financial institutions' own funds. You can read more about this there - Why Are Your Funds Safe? | Bankera Blog
This is an example of one EMI, but it's similar to most of the others.
This is an example of one EMI, but it's similar to most of the others.
Wirecard is a bank. With a bank, you are protected under deposit insurance law which across EU is typically 100,000 EUR per person per bank. Anything above that amount is up to courts and creditors to claw back from the mess the bank leaves behind as it crashes and burns.
EMIs, on the other hand, are required to maintain 100% reserves (slightly more, in fact). They cannot use the funds for fractional reserve banking, investments, and so on. If an EMI fails, your funds are safe from︀ other creditors.
EMIs, on the other hand, are required to maintain 100% reserves (slightly more, in fact). They cannot use the funds for fractional reserve banking, investments, and so on. If an EMI fails, your funds are safe from︀ other creditors.
Well there is a catch though. It's unlikely but can happen:︀ If the bankend bank of an EMI fails you are screwed because this kind of︁ business accounts are usually not 100,000€ protected in the EU. Some years ago Sata bank︂ failed in Malta and it was the backend bank of the EMI Leopay. Afaik people︃ could not access their money for a long time and some also lost money.
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