Is Dukascopy Bank SA a trustworthy bank?

[Sols]

They have real banking license or they are just fintech, emi ?

They have a real banking license.

https://www.finma.ch/en/finma-public/authorised-institutions-individuals-and-products/

 

[Marie Manila]

The size of the limit by default is set to USD 50'000 can be raised to 100.000 USD, for that you need to make a request and prove source of income.

Are you sure it is possible to rise this limit?
I asked them and they told it is fixed at 50.000 USD.

On their website they say the plastic and virtual VISA cards will be available the 1st of December,

Where did you find this information?
I already have a card since a few month with them.
Remember, the card is 1 CHF per month.

 

[houta97]

Are you sure it is possible to rise this limit?
I asked them and they told it is fixed at 50.000 USD.

Dukascopy Bank
in the faq (link above) How to increase account limits?
The limit on account balance can be increased upon condition that you manage to prove that you can place the requested sum on your account. In this case the size of the limit can be increased up to USD 100'000.

Where did you find this information?
I already have a card since a few month with them.
Remember, the card is 1 CHF per month.

i misunderstood, i have put a new post where i gave the prices of the cards

 

[edimmax]

What binlist say about Dukascopy virtual Visa card? Can someone paste it here?

https://binlist.net/

 

[Flatworld]

What binlist say about Dukascopy virtual Visa card? Can someone paste it here?

https://binlist.net/

its cards are issued by corner bank switzerland

 

[lavel]

Did you guys had luck to get an account opened there and how does it work ?

 

[Sols]

It's easy to open an account via the app (or apps). The video conference is weird since you don't see the other person, unlike many other EMIs which use a third party like Go ID where you can see the other person. The lack of human connection makes it quite jarring. On top of that, the app is terrible to use compared to Bunq, Revolut, Transferwise, and other more mature solutions, and the fees aren't very attractive.

But if you want a Swiss bank account opened online, it's probably the easiest option right now.

 

[iloveyouguys]

Did you guys had luck to get an account opened there and how does it work ?

You created an account there or where? How did it go?

It's easy to open an account via the app (or apps). The video conference is weird since you don't see the other person, unlike many other EMIs which use a third party like Go ID where you can see the other person. The lack of human connection makes it quite jarring. On top of that, the app is terrible to use compared to Bunq, Revolut, Transferwise, and other more mature solutions, and the fees aren't very attractive.

But if you want a Swiss bank account opened online, it's probably the easiest option right now.

Are you happy with them? Do you think in 5-10 years, would you face a problem because you have an account at that bank? I know Transferwise shut down accounts of people if they work with Russian or Ukranian banks. Offshore banks usually have negative reputation when you want to transfer your money to traditional locations or want to do business with highly regulated (aka safe) entities, which can cause issues.

 

[lonizzita]

in call they told me that they only open to those who trade.

has anyone managed to open it?

 

[Willblack]

This seems interesting, how crypto-friendly are they and has anybody opened a corporate account with them?

 

[Camille Württemberg]

I've known Dukascopy since 2014. They have a real office in Geneva with hundreds of high-paying people working there. Their logo is on the top of a prime building in Geneva which probably costs a lot.

They have a FINMA license which is no joke, it's one of the toughest regulator in the world and it's a Banking license, not some random brokerage license from the Carribean.

They are a very good alternative to Tier-1 private banks asking for a few millions in deposit -- instead, Dukascopy will ask you for a trade a month or something, which you can easily do (open/close a position)

 

[lonizzita]

I've known Dukascopy since 2014. They have a real office in Geneva with hundreds of high-paying people working there. Their logo is on the top of a prime building in Geneva which probably costs a lot.

They have a FINMA license which is no joke, it's one of the toughest regulator in the world and it's a Banking license, not some random brokerage license from the Carribean.

They are a very good alternative to Tier-1 private banks asking for a few millions in deposit -- instead, Dukascopy will ask you for a trade a month or something, which you can easily do (open/close a position)

do you know any agent who can help me to accept me?

 

[Camille Württemberg]

do you know any agent who can help me to accept me?

Their process is fully online no? At least it used to be.

 

[Marie Manila]

Go for the MCA account.
There is no need for trading.

 

[lonizzita]

Go for the MCA account.
There is no need for trading.

https://www.dukascopy.com/swiss/it/banking/savings-account/
MCA account only for personal not on the company?

 

[Marie Manila]

Oh, I was not aware you are searching for a cooperate account.
At least for personal accounts, you could use the MCA plan.

 

[clemens]

https://www.dukascopy.com/swiss/it/banking/savings-account/
MCA account only for personal not on the company?

Did you managed to open a personal bank account with them? I can't get in touch with them by email?

 

[AlexanderSu]

Did you managed to open a personal bank account with them? I can't get in touch with them by email?

You can ([email protected]), but it's quicker to contact by the live chat on the web site: www.dukascopy.bank

 

[BEALMAN]

To my surprise they do not ask for the TIN.
The account itself is free. You need a mobile app for video identification. Afterwards you can use the website for banking.

The mobile app is somehow a messenger, where you can do some dating, flirting and so on. Mostly Russian speaking people use the social part of this app.
But you can also access your account through this app and manage everything there.

I think I did not have to provide a prove of address.

You can open several accounts in different currencies. Also RUB is supported. The only European bank I know, where you can open a RUB account.

Credit Card is 1 CHF per month per currency. Unfortunately the card is not multi currency itself. So you have to order different cards, if you want to have access to your different currency accounts.
Cards are only available in the mayor currencies (I think it was EUR, GBP, USD and CHF).

Now the big question: Is the money save?
I really do not know, but since they have a valid banking licence, the deposit protection should work, I guess.

:>) save = Safe; "I guess" and you just lost $90,000! Who is the insurer and what are their qualifications and history? How long has the insurer been in business and what/who are their references? Claiming "insured" all depends on their reliability; Real Estate mortgage insurers go belly up quiet often. I guess I am a pessimist, but I'm not broke either.

 

[AlexanderSu]

:>) save = Safe; "I guess" and you just lost $90,000! Who is the insurer and what are their qualifications and history? How long has the insurer been in business and what/who are their references? Claiming "insured" all depends on their reliability; Real Estate mortgage insurers go belly up quiet often. I guess I am a pessimist, but I'm not broke either.

In Switzerland, all banks must participate in the depositor protection scheme due to the legislation. You can find all the answers here: Questions and Answers