BTC to Card ATM frequency / limits before Source of Funds

[jermird]

What is the common experience in terms of frequency / limits when the usual BTC to Card/ATM cashout providers start to ask for source of funds of the loaded BTCs?

Any definite red flag actions one should avoid?

 

[CaptK]

You have to use the card as normal. You can withdraw upto 1000 per day with some cards but normally after the second withdrawal they block the card. If you do one o a monday and one on a Friday and plenty of normal transactions ie shopping, petrol, restaurants, pubs and utility bill's then it's not such a red flag.

Other option is to set up as many EMI's as possible and withdraw from a card every day.

Mainstream banks wont trouble you so long as Crypto is not your only income but to open an account they will credit check you and you will be required to visit the branch to open.

 

[Martin Everson]

So you don't have a good source of funds for the BTC....lol. I would work on this and worry less about guessing an EMI's threshold. All EMI's are different. There is no general fixed rule on red flags or anything when it comes to compliance department looking at a clients activity. However frequency, volume, residency are good starting points to avoid problems. Being in a low risk country and doing very small transactions can reduce your risk.

As mentioned multiple crypto EMI's is best solution.

 

[reesek]

5k per month per card
20k per month per iban

there are banks that accept crypto sof

but good thing about sof is you can use the same one several times

 

[CaptK]

5k per month per card
20k per month per iban

there are banks that accept crypto sof

but good thing about sof is you can use the same one several times

By managing your portfolio correctly you can definitely be able to do so.