Best bank for depositing to crypto exchange

[speedster]

I am looking to open a bank account in which to receive funds via SWIFT transfer and then make deposits to a high volume crypto exchange, such as kraken. The account can be in USD or EUR, although I'd prefer an account within the SEPA zone as same-day deposits would be beneficial.

I am willing to register an offshore company for this if necessary, although this should then be in a jurisdiction that has no regulation on the selling of crypto for fiat.

 

[Outlander]

I would advise you, that a combination of offshore + crypto is deadly for most serious banks, and the banks who won't deny your application, will charge hefty fees and/or scam you in the long run.

I would recommend that, if possible, have several accounts and link them together using Transferwise. Have your funds secured in a solid bank which won't touch crypto, then TW funds to your shady/expensive bank, and from there wire to your crypto exchange.

This way you avoid having most of your money where they might want to question or hit you due to your crypto connections.

 

[Spondula]

You're really going to struggle finding a bank in the SEPA zone that'll accept what you're asking for.

 

[speedster]

You're really going to struggle finding a bank in the SEPA zone that'll accept what you're asking for.

Suggestions for options not in SEPA?

 

[speedster]

Or alternatively, would this be possible if I were to register a local company somewhere in Europe?

 

[Martin Everson]

I am looking to open a bank account in which to receive funds via SWIFT transfer and then make deposits to a high volume crypto exchange,

Receive funds from who? Third parties? Or your own money? If it's third-party money forget it.

Crypto is pretty much a no go without risking losing your bank in SEPA zone. If you are in EU then you can open a bank account with Bunq and use bl3p.eu which banks with Bunq to trade and keep things within that circle of trust.

Same was the case with MisterTango you could have open a SEPA account in EUR and use their own exchange btc-exchange.com which is integrated with the EMI to trade. However MT is pretty much finished long term now.

If you however want to use other exchanges with more pairs then I don't know. But what I do know is not to touch crypto exchanges with transfers from any EMI or bank you wish to keep. You would need to go indirect as mentioned with a throw away bank/emi.

 

[Spondula]

Suggestions for options not in SEPA?

Several dodgy ones in the Marshall Islands or, more favourably, in the caribbean.

 

[Bmw850]

Several dodgy ones in the Marshall Islands or, more favourably, in the caribbean.

A bit mysterious, would like to know too

 

[veryhdwd]

I am looking to open a bank account in which to receive funds via SWIFT transfer and then make deposits to a high volume crypto exchange, such as kraken. The account can be in USD or EUR, although I'd prefer an account within the SEPA zone as same-day deposits would be beneficial.

I am willing to register an offshore company for this if necessary, although this should then be in a jurisdiction that has no regulation on the selling of crypto for fiat.

Would you like to send via a personal account or a company account?

Many of these EMIs allow crypto transfer on low limit personal accounts but put up restrictions when you upgrade to a business account. Revolut is a good example here.

 

[speedster]

Would you like to send via a personal account or a company account?

Many of these EMIs allow crypto transfer on low limit personal accounts but put up restrictions when you upgrade to a business account. Revolut is a good example here.

Business. Probably looking to move around eur100000 per week

 

[Spinat]

Business. Probably looking to move around eur100000 per week

That a lot of money, where does the money come from and do you have a company already registered?

 

[speedster]

I have a company registered locally, but local foreign exchange regulations require me to register something outside of our borders.

 

[Spondula]

tell us more....what ones in the Marshall islands and in the caribbean?

A bit mysterious, would like to know too

The one I know in the Marshall Islands is perhaps not dodgy, but lets just say talking to them would be quicker if you used homing pigeons as a form of communication

certain banks in the Caribbean are friendlier and easier to get hold of.

 

[Bmw850]

@BNERO ok I understand and respect your business as introducer, but then your mysterious answers don't help.
It was interesting to check about which bank we are talking about.

 

[Spondula]

@BNERO ok I understand and respect your business as introducer, but then your mysterious answers don't help.
It was interesting to check about which bank we are talking about.

I'm not certain it's wise practice for me to start bad mouthing other banks, nor am I sure if it's even allowed by forum rules.

I can name a caribbean based bank that works with crypto, and i can say hand on heart I'm not affiliated with that bank.

It's a bit tricky for me being an introducer as you rightly say!

 

[Elve]

If you are in EU then you can open a bank account with Bunq and use bl3p.eu which banks with Bunq to trade and keep things within that circle of trust.

I opened an account with https://bitvavo.com to try and surprisingly they have a BUNQ business account for sepa deposits (sofort, Ideal available also). I imagine that fiat withdrawals are also processed from their Bunq account.

I am very surprised that Bunq opens bank accounts for crypto exchange companies.

Would Holland be a friendly crypto country?

 

[Martin Everson]

Would Holland be a friendly crypto country?

Not 100% sure. But I have seen the Dutch taxman works closely with exchanges in the country such as Bitonic. They offer consultancy and hold training sessions for the taxman.

 

[mike400]

I opened an account with https://bitvavo.com to try and surprisingly they have a BUNQ business account for sepa deposits (sofort, Ideal available also). I imagine that fiat withdrawals are also processed from their Bunq account.

I am very surprised that Bunq opens bank accounts for crypto exchange companies.

Would Holland be a friendly crypto country?

No problems with Bunq receiving withdrawals from Bitvavo?