Corporate Crypto Bank Account

[Paul]

I don't have any preferences of EMI's but they are out there. If you can do the volumes you say you can then why not speak to one and ask about a rebate based on volume. I am a tax consultant so this is not my specialty.

Thanks you for your feedback, I will look on to that. I think it's always better to go with most widely used EMI and reputed than some unfamiliar ones that's all.

 

[Paul]

A UK Ltd can be registered for 5 pounds. The Revolut account will cost you 30 eur p/m, but you will get a individual IBAN and sort-code.

@Milky Moon Will it be possible to register a uk ltd or IBC in some jurisdiction and set up an EMI/Merchant account with it, for businesses related to cryptocurrency?

 

[theoneintrouble]

Hi everyone,

I actually want to do something similar to Paul also with the possibility of having around a million dollar turnover a month. I can start small though.

I've done some research. So far, Mistertango seem to be a really good option. It's pretty cool that they have the exchange integrated to the accounts however they lack a good api that I need to setup my system so I have to ask my ppl to come up with a solution to connect my system to their exchange order book. Also, their support is not great. I've got my first reply very fast but I send a reply yesterday Friday EST time zone and I still didn't get a response yet... Also their 2FA doesn't work in North America! They said they are working on it to fix it ...

Anyways, I am interested to see if anyone has the experience of moving around huge sums with Mistertango.
Their support was telling me that they have clients who deposit/withdraw like 10btc a day.

Another option might be to incorporate a business somewhere and get a bank account. Based on my experience you can incorporate a crypto business in many offshore locations including Hong Kong but opening a bank account and keeping it open is very challenging because banks are just not friendly with crypto generally speaking. I don't think not disclosing the crypto to the banks would be smart enough either... because they can cause you trouble if they find you work with crypto.

Caribbean islands might be a good option for incorporating a business and getting a bank account. Some person was telling me they will probably don't care if you work with crypto but you have to have enough documents to support where the funds come from.(Which is fine) Though, there are couple of issues in this method.

1. The known exchanges don't accept incoming wire transfers from everywhere.
2. The deposit processing times in most exchanges is really long these days. (I've heard over 2 weeks sometimes)
Meaning if you want to have a good cycle from crypto/fiat it realistically takes over a month to complete the cycle...
3. If you were to verify a new account with a new exchange, it takes time ... Bitfinex currently shows like 3 weeks for verification!


I am interested to see if anyone knows a solution for me and Paul's case.
I wish Mistertango had a better support and a business plan or something...

 

[Milky Moon]

I found that if you start using mistertango with kraken.com, you have to redo your verification, due to:

Unfortunately due to an increased risk of fraudulent transactions, deposits from your bank can only be accepted once you have submitted an ID confirmation photo.

Please see this support article for the ID confirmation photo requirements: What is an ID confirmation photo? . Please make sure the ID used in your photo is the same one which you have uploaded to Kraken separately.

Instructions for uploading your ID confirmation photo are available in your account under the Tier 3 tab on your 'Get Verified' page. Please contact us for further assistance if you encounter any trouble at all. We apologize for the inconvenience, but this is something we must require to help prevent fraud in the banking system.

Please let us know when you submit the ID confirmation photo so that we can verify it quickly and release your deposit. We can refund your deposit if you choose not to upload the ID confirmation photo, however you should be aware that future deposits to this account will also be placed on hold and we will be unable to credit them until you have completed this verification step. Thanks for your patience.

 

[theoneintrouble]

I found that if you start using mistertango with kraken.com, you have to redo your verification, due to:

Unfortunately due to an increased risk of fraudulent transactions, deposits from your bank can only be accepted once you have submitted an ID confirmation photo.

Please see this support article for the ID confirmation photo requirements: What is an ID confirmation photo? . Please make sure the ID used in your photo is the same one which you have uploaded to Kraken separately.

Instructions for uploading your ID confirmation photo are available in your account under the Tier 3 tab on your 'Get Verified' page. Please contact us for further assistance if you encounter any trouble at all. We apologize for the inconvenience, but this is something we must require to help prevent fraud in the banking system.

Please let us know when you submit the ID confirmation photo so that we can verify it quickly and release your deposit. We can refund your deposit if you choose not to upload the ID confirmation photo, however you should be aware that future deposits to this account will also be placed on hold and we will be unable to credit them until you have completed this verification step. Thanks for your patience.

True but I don't want to use Mistertango as an intermediary for Kraken.
What about Mistertango's own exchange? Is that reliable? It looks like a great solution to me if they are legit and reliable.

 

[diablo]

Where do you Guys read that MisterTango can accept BTC ? any hint please, link preferable?

 

[Milky Moon]

Where do you Guys read that MisterTango can accept BTC ? any hint please, link preferable?

Get an account and see for yourself.

 

[theoneintrouble]

Can anyone confirm that if I incorporate a business in Belize and make a bank account there, I would be able to use it for moving money between crypto exchanges?
If not Belize where is the best offshore location for such an application?

Thanks

 

[jayminho]

Leupay don't accept crypto business, has been discussed here many times already.

You want to travel in order to get a bank account that will fits your needs. I would look for banks in Switzerland since some of them are already open for Crypto business but they will require you to incorporate a Company in Switzerland and you will have to show them money and your face.

Maybe some others have better suggestions for instant some bank in Poland I read about here on the forum..

really ? so if I have an account at leupay and FROM leupay i want to wire money TO an exchange , they will refuse ? i dindt know that.

i have leupay, but never tried to wire anything FROM there. i only wired $100 TO leupay once .. and the credited 84.xx usd in my account. i guess 16 were in fees

anyway, do you think if i were to try to wire FROM leupay TO an exchange they would decline/block my sending wire ?

 

[diablo]

anyway, do you think if i were to try to wire FROM leupay TO an exchange they would decline/block my sending wire ?

They will properly close your account. They are fucktards when it comes to account closoure!

 

[jayminho]

They will properly close your account. They are fucktards when it comes to account closoure!

(
pretty sad.
i was wondering if going direct to satabank would be a better choice. (instead of using leupay)

 

[diablo]

i was wondering if going direct to satabank would be a better choice. (instead of using leupay)

if you can do so, do it, it may be way more secure for you to use.