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bankera scam
- Thread starter csp dubai
- Start date
That apart, before opening bank account, you first check the terms and policy and also speak with the bank staff to confirm certain things on their website I.e if yourr business activity would be supported. I call this Due Diligence check.
It is at this point that most banks are eliminated because they tell you from the start if they can accept your activity or not. But bankera says yes, they would, and reviewed my application and categorized it as Business plus, just to make sure they ask me for 450 eur fee. Even though by reading their terms of service and policy, my business does not fall within the so called high risk.
Paying the fee at this point is almost same as paying the fee after they have opened the account, but only if the intention is not to scam you. Also saying they used my 450 eur to reviews my application is total bulshit. If they do not make enough money to pay their employees, then they should not be in the business. They should not be allowed to operate. Besides that, the employee that did the initial check to categorize my account as business plus, who paid him? Why was no fee requested then?
You guys need to understand this is absolutely wrong. If an individual does this, he will be charged and locked up, then why is a financial institution allowed to commit open fraud. I urge everyone here to report this issue to financial ombudsman. I will be going on Twitter to raise the awareness as well. And if possible I can pay a social media influencer to talk about it. It is very wrong what bankera does. Even if I don't get my money back I'm sure they will lose a lot of customers.
Yes. It is absolutely wrong and horrible. They are like drug dealers that take advantage of vulnerable people.
There are plenty of banks, most of them free or without application fees.
But there are cases where there are no alternatives and you still try. If a bank asks for an application fee, maybe reconsider your business model first.
It is like with prawn shops, they ask know that the owners are ripping them off. But they keep coming for to the lack of alternatives. Complaining about them does not help not spare anybody from being ripped off. Talking about their situation and getting a new business model does.
There are plenty of banks, most of them free or without application fees.
But there are cases where there are no alternatives and you still try. If a bank asks for an application fee, maybe reconsider your business model first.
It is like with prawn shops, they ask know that the owners are ripping them off. But they keep coming for to the lack of alternatives. Complaining about them does not help not spare anybody from being ripped off. Talking about their situation and getting a new business model does.
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As long as there’s demand, Bankera will keep going. The internet is full of scam reports about this bank. It seems that OCT members have been spared as long as their representative, Mr. @Gediminas , has been active here. I assume his inactivity is related to the fact that more and more people, including those from OCT, are now getting scammed.
Scam or not, honestly if a bank or EMI asks for an application fee, it's a big f* red flag for me.
There's another bank advertising here on OTC which does that and I laughed when they asked for an application fee (I enjoy applying to banks and EMIs just for the sake of it)
There's another bank advertising here on OTC which does that and I laughed when they asked for an application fee (I enjoy applying to banks and EMIs just for the sake of it)
Because that's their business model aka that's how they make money out of desperate people
And judging by the number of people falling for that, it seems it's a good business.
Yes. See my post above. It is like a pawn shop. Only the last wanted customers come and most of them will cost the bank a lot with their troubles.
@jellea would better tell us what he is doing and why the others doing like him. Maybe there is still good to find a new business model for him which does not need to rely on such service providers.
My business is somewhat related to crypto. Banks do these because people are dumb and scared . If everyone could take a stand this would end.
Can you imagine using this Bankera business model to apply for bank account with them? They would clearly say to you that your business is unsustainable, and high risk, yet that's what they are doing.
And before anyone says crypto is this or that.. while then are the same banks and emi offering same service by themselves? They just want to monopolize the whole thing. Then make it available to the rest of the people when they find something better
application fee (non refundable) is totally normal thing for decades in banks,. Especially for corporate customers, non-resident accounts etc.
Some banks even for opening require 1m+$ deposits these days. It's required to cover the costs of analysis of account opening / analysis of acceptable applications
As I said, scam is used so much often these days, that it does not mean anything. The person who complains here I am sure 100% he was informed that the fee is not refundable
Exactly. 100% this. Higher compliance costs need to be paid by somebody. They can either charge it on all customers or just the ones that apply.
How can we talk about free markets and then bully banks that operate profitably in a free market?
High compliance cost? If Bankera is not able to pay high compliance cost from their profit, doesn't it mean they are not qualified to be taking applications for such?
You guys talk as if you are brainless. Ask yourself if Bankera would accept your business plan if you intend to depend on onboarding customer to fund your compliance cost
This is false. As I'm writing to you now, multiple emis have refunded me in the past, even the kingdom bank told me to apply and that they would refund me if rejected. But I don't want to use them because of the operation fees.
You only think it's right because no one had ever challenged this
I think we think that it is right as many here believe in a free market. The problem here is that the market is not entirely free as banking licences are required. Hence, it is perfectly discussable whether application fees are acceptable or not. But in the end, it is a poltical discussion.
As mentioned, I would never consider banks with such fees.
What business do you conduct with crypto?
If you are providing exchange/wallet services, are you at least registered as a VASP somewhere?
Unregulated crypto (I say unregulated relating to no supervision by the local ministry/unit for financial analysis) is seriously extremely high risk for EMIs/banks.
And if you have a VASP, use Payswix (good pricing for crypto, 599 EUR when issuing IBAN and 0.2% on transfers), Stanhope Financial (high monthly fees but pretty good to deal with), etc., there are many of them; look for EMIs that are really working with VASPs on the regular.
Paying opening fees is completely usual, and non-refundable compliance fees are also common (though client-unfriendly and risky – because the EMI can often make more profit 'pre-approving' and then rejecting you) mainly at small EMIs. I have seen clients at UK EMIs pay 5 thousand EUR for opening and they are still happy.
True, but these are mostly joke institutions. Swiss banking does not deliver you benefits except maybe Swissquote (but that is mainly for individuals and holdings).
When you have opening fees above 10K, the institution probably wants to get rid of you.
But when you want a Swiss account for crypto activity, there is still Bivial and maybe some of the other FinTech deposit takers, as well as a few cantonal banks who will accept you with PolyReg/SO-FIT/VQF if you are registered there specifically. And these will not charge you 10-20K but they will not be particularly friendly.
Crypto still has to stick to EMIs and/or Banking Circle (and Dominican banks, but those are basically EMI-wrappers).
It depends on what you call unregulated and jurisdictions of context. For instance in my case, I plan to conduct my activities solely within a regulated exchange in the jurisdiction. Therefore I do not necessarily have to be regulated if I'm only acting on behalf of the exchange and within the exchange framework. This is simple as abc, people are just dumb or not understanding what the law says.
Additionally I ensured that my company was registered in a country where the activity I described above is not considered a crypto company activity. But you know most of these emi's staff are also not well knowledgeable in laws.
You must be joking. It seems Emi is a very profitable business with this business plans.. make monthly profit from onboarding new members pretending to offer risky business.. then proceed to frustrate them with questions after questions.. and then reject them.
I'm so confident that I will defeat bankera in court.i still have screenshots of all the unnecessary repetitive questions they were asking
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