EMI Bank not strict

[semas2]

Hello

is there currently any EMI bank which is not very strict in terms of providig PoF for every damn low incoming sepa transfer?

i have tried revolut with 1000 EUR from a Crypto exchanger which got credited without any issues and i was able to transfer it to my retail bank.

next day i did a withdrawal of 11000 euro from the CEX , it got credited aswell but once i wanted to resend it to my retail bank they asked for SoF, luckily they accepted my documents , however im not very happy with the situaiton.

in the past PFS Bank didnt even care about SoF on 300k income to my personal bank account i held with them. Unfortuantely they stopped their service in the Eu.

How is paynetics ( bulgaria ) ? they have good limits but not sure if they are good to go or better leave it.

Zen might also ask documents very fast?

 

[YoungLansk]

None

 

[Sols]

If you find a financial institution that's lenient on KYC, you've found a financial institution that might be at risk of having its operations or license suspended at any moment. Broadly speaking, bigger financial institutions tend to have higher thresholds and just more data/experience so they might ask questions less frequently than a smaller financial institution. But that's not really something you can rely on, especially if you're dealing in crypto. Especially since many big financial institutions are slow moving and still think crypto equals crime.

Basically, it's {CURRENT_YEAR}. If you want to be in the fiat system, play by the fiat system rules.

 

[Martin Everson]

is there currently any EMI bank which is not very strict in terms of providig PoF for every damn low incoming sepa transfer?

Credit Suisse........oh wait

 

[diatessaron]

No, and if you find one don't use them. There's a high chance your money will be stuck in that platform.

 

[ilke]

Reliable + cheap = strict
Reliable + not strict = not cheap
Not strict + cheap = not reliable

I'd say that this generalisation could tell you enough. And keep in mind that option 2 is still likely to see some attacks from the regulator.

 

[JohnLocke]

It has a lot to do with how long you have had your account and whether your transaction pattern is normal. If you have had an account for the last 10 years and your transaction pattern has been fairly consistent, you typically don't hear much from the bank; at least, it is rare.

When you open a new account and one day you deposit 1000 EUR and transfer it out the next day, it probably doesn't trigger any alarms. However, if the following day you deposit 11,000 EUR and attempt to transfer it to another bank, it raises all the red flags. And that's how it should be.

 

[cubasemaster]

If you need to transfer crypto to Fiat world you can do Off Ramp with Nexo bank. But as other colleagues mentioned you should be attached to some "patterns" that make the bank not to fire the red flags.

 

[Marshal]

If you need to transfer crypto to Fiat world you can do Off Ramp with Nexo bank.

Is Nexo now a bank? The last time I checked it was a crypto exchange/platform.