Account opening in Switzerland

[GlobalConsult]

Any objections against EMIs like FIAT24 (OK, quite new) and/or Amnis Treasury?

Yesterday opened an account at FIAT24. The Swiss IBAN doesn't support SEPA and crypto top-ups are currently only possible with Arbitrum (no USDT, BTC, ETH, etc.) - very unusual.

Amnis only offers business accounts.

 

[Forester]

Amnis works, but they want to see fx turnover of about 100k min. per year.

My bad. I was aware of this (wrt business accounts) but somehow haven't recalled it at the proper moment. Sorry.

They're generally fine.

OK

Also Klarpay but they only do personal accounts for people who also have company accounts.

Yes, it was the reason for what I haven't mentioned it...

Amnis works actively on new options & features as well (added CH IBANs recently, has interesting savings accounts, is supposed to be adding more local IBANs over the next months).

Nice to hear

Amnis might not fit the OP, since the funds are held in the EU (German bank).

German? I am living under impression that it was Erste AT... But it maybe has changed in the meantime, I haven't checked.
Anyway, an EU bank – honestly, I haven't perceived it as a problem; but I/we don't know @GlobalConsult 's real motivation...

Yesterday opened an account at FIAT24.

Good for you

The Swiss IBAN doesn't support SEPA

Interesting; but pretty possible. CH is not an Eurozone country.

and crypto top-ups are currently only possible with Arbitrum (no USDT, BTC, ETH, etc.) - very unusual.

Well, a bit strange, really. And I guess that it was different some time ago – but I am not sure, my memory does not serve so well, as proved above with Amnis

Amnis only offers business accounts.

I was afraid of it.

 

[Marie Manila]

I would like to use the account for normal day-to-day use, i.e. receiving payments of 3-5k per month from my other private accounts or company and then paying via SEPA for my expenses.

I think Switzerland is not the best country for those operations.
Many European banks may take a fee for SEPA transfers from or to Switzerland since they are not part of the EEA.

If you want to protect your money, have a look at the Lugano Convention first.

 

[Forester]

I think Switzerland is not the best country for those operations.
Many European banks may take a fee for SEPA transfers from or to Switzerland since they are not part of the EEA.

If you want to protect your money, have a look at the Lugano Convention first.

Well, @GlobalConsult has not shared his motivation ...

Of course you are completely right with both points.

 

[JackAlabama]

I think Switzerland is not the best country for those operations.
Many European banks may take a fee for SEPA transfers from or to Switzerland since they are not part of the EEA.

If you want to protect your money, have a look at the Lugano Convention first.

good point. Yes Switzerland is totally not what it once was. Well the fees are still high tho like back in the old and glorious days.

 

[Mister M]

The Swiss IBAN doesn't support SEPA

Any updates on this? Their FAQ states that their IBAN supports EURO Sepa top ups

 

[Marzio]

Amnis works, but they want to see fx turnover of about 100k min. per year.

Are you speaking from personal experience because this is nowhere to be found on their site?

 

[daniels27]

Are you speaking from personal experience because this is nowhere to be found on their site?

I thnink EUman posted it:
https://www.offshorecorptalk.com/th...-for-exchanging-currencies.43500/#post-284503
I am not sure about this rule either. But in general Amnis has manual review of the accounts and they are mainly looking for more than 100k FX per year.

 

[GlobalConsult]

Any updates on this? Their FAQ states that their IBAN supports EURO Sepa top ups

SEPA to FIAT24 Swiss IBAN is not possible! Only SWIFT

 

[Marzio]

PostFinance only opens accounts with a personal visit to a branch.

FYI PostFinance applies a CHF25 monthly surcharge for non CH residents.

they are mainly looking for more than 100k FX per year.

That's unfortunate because i looked at their product and found it pretty pretty good!

Did you guys ever heard of Relio? They advertise their CH bank account starting from CHF19

 

[daniels27]

FYI PostFinance applies a CHF25 monthly surcharge for non CH residents.

Yes. It may as well go up again. Also they only take clients from neighbouring countries.

That's unfortunate because i looked at their product and found it pretty pretty good!

Yes, but what you want to use it for? If you have accounts for your company as well, they probably won't close it.

Did you guys ever heard of Relio? They advertise their CH bank account starting from CHF19

Yes but the problem is that: "Please note that for the time being our service is only available for companies registered in Switzerland."

You most likely have better offers with Yapeal.

 

[jorge]

Amnis

International Payments with the #1 Platform - fast & simple | amnis
they are accepting payments from crypto platforms like kraken may you know that?

 

[Marzio]

If you have accounts for your company as well, they probably won't close it.

I thought Amnis offered only business accounts and they required 100K fx turnover. Are you telling me that the 100K fx turnover only applies for personal accounts?

 

[ilke]

I thought Amnis offered only business accounts and they required 100K fx turnover. Are you telling me that the 100K fx turnover only applies for personal accounts?

Yes, that's what was meant by @daniels27, AFAIK.

There are not such requirements for business accounts (I think there are nearly none, actually) from my own experience.

 

[Marzio]

from my own experience.

Do you have an account with them? What's your experience?

 

[daniels27]

Do you have an account with them? What's your experience?

Yes. The experience is good. You have a personal account manager and you can even meet in person if your like. They are quick to react if they are issues.

Also, if you just open an account on your own there, they will teach out to you as there have been numerous cases of people with fakes, scam, casinos or other activities that are high risk and that this their fees cannot sustain in the long term.

They do expect your to make a turnover of about 1000 to 2000 USD per year. I spoke with many fx-based EMIs like OFX, World First, Airwallex, Ping Pong, eBury, etc. They are all able to reduce their FX margin based on about that 2000 USD turnover per year.

They normally do not close your account but they have costs and this expect about that annual turnover.

 

[Marzio]

Yes. The experience is good. You have a personal account manager and you can even meet in person if your like. They are quick to react if they are issues.

Just to be clear, do you have a personal or business account with them?

 

[daniels27]

Just to be clear, do you have a personal or business account with them?

One personal and a couple of business accounts with Amnis.

 

[Mister M]

One personal and a couple of business accounts with Amnis.

What is the account opening process for a personal account like?

 

[daniels27]

What is the account opening process for a personal account like?

Quick and easy. But they may contact you what you need it for. I quote them: "You know, there are people who just sign up on their own. This is always a bit suspicious without referral code and no prior contact. If I ask them a quqestion, they are quite evasive. This is not a good sign."

What do you want to use the account for?