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#41
Martin Everson said:
There is no economic purpose for breaking down a large transfer into small amounts and hence it is structuring whether amounts are below or above a jurisdictions reporting limits. Structuring itself leads to investigation by banks/EMI's and is a clear indicator of illegal activity which can get your account frozen.

You have to ignore what EMI's tell you about banking. Once the correspondence banks queries EMI for why Mr Jones sends 4 transfers of 25k and asks for the economic purpose its game over for EMI banking relationship. However if you have paperwork for all transactions then no issue.
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I know, but this is a individual sending payments from his Crypto/Kraken account to his EMI/Bank account. This is all within your own 'sphere of influence' and decision making authority. Thus you can decide to wire 100K in one time, or 4x25k or whatever.
 
#42
Martin Everson said:
btw that's called structuring and that's also an AML offence. So be careful and I would not advise doing this either.
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hi


i'm not sure why you think it's more important than secure your funds at first place, yet this not your local bank to move large sum without asking yourself about risks . most of this companies are overseas though their liabilities are low to customer unless you are unconcerned that something can go wrong . you should be too careful .

it's not about economic purpose , you are not going to grow your funds a bit but you can greatly protect your funds before handing it to stranger .
 
#44
In addition, please be informed that in accordance with our Client acceptance policy, dealing with cryptocurrencies would be acceptable where clients are merely using their e-money wallet to invest in Bitcoins/cryptocurrencies for themselves personally.
However, iCard will not accept clients, or will terminate relationships with existing clients, where the potential client/our client is offering Bitcoins/cryptocurrencies trading Services, or acts as Intermediaries of such.
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As far as this policy statement from LeoPay & iCard, please not it is only valid for individual accounts. Otherwise, corporate accounts are not crypto friendly unfortunately (answer from their customer support)
 
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#46
Fox7 said:
Contacted ICARD.com and I, for once, received a clear answer about their crypto policy

In addition, please be informed that in accordance with our Client acceptance policy, dealing with cryptocurrencies would be acceptable where clients are merely using their e-money wallet to invest in Bitcoins/cryptocurrencies for themselves personally.
However, iCard will not accept clients, or will terminate relationships with existing clients, where the potential client/our client is offering Bitcoins/cryptocurrencies trading Services, or acts as Intermediaries of such.
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After more that than 2 years I enquired them on the same topic and I got the same answer. It looks like iCard is the ONLY EMI providing personal IBAN clearly stating to be crypto-friendly on both directions (incoming and outgoing transfers).
 
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#51
Mr tango is crap, the only e way to work with them is to pay money to compliance, it acctully happend to client of mine the compliance call him and y told if you grease him a bit he make things smootly, wellcome to the new business of century, greasing compliance o_O
 
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