I've noticed that several local online crypto exchanges like Rain, Coinmena, and BitOasis now allow you to send USDT, convert it to AED, and withdraw it to your local bank account. Over the past six months, I transferred about 500,000 AED this way without encountering any issues with my bank. The only exception was with BitOasis, which recently asked for the source of my funds, but the issue was quickly resolved.
It seems that banks no longer raise concerns when transfers are done through local companies like Coinmena LLC. However, they are still wary of receiving funds from exchanges like Binance or OKX. Is this the case? Are banks generally more comfortable with local exchanges? What is your experience?
I look to move $2M in USD. Thinking about buying properties with manager cheques, do you think people that bought with these cheques will face trouble in future ? Example by buying a villa with a cheque through a third party such as coindesk ? What do you think. Is the best way to transfer from local exchanges to bank, from bank to property. Or the direct way via a third party to cheque to property?
It seems that banks no longer raise concerns when transfers are done through local companies like Coinmena LLC. However, they are still wary of receiving funds from exchanges like Binance or OKX. Is this the case? Are banks generally more comfortable with local exchanges? What is your experience?
I look to move $2M in USD. Thinking about buying properties with manager cheques, do you think people that bought with these cheques will face trouble in future ? Example by buying a villa with a cheque through a third party such as coindesk ? What do you think. Is the best way to transfer from local exchanges to bank, from bank to property. Or the direct way via a third party to cheque to property?
