Private bank options for crypto source of wealth (8 figs)

[jafo]

So they are reliable to work with? I know no.1 but they only take large deposits from what I read during the signup process.

Yes.
I have been with both of them since the beginning. At that time, Amina was SEBA. For me, the onboarding process was easy back then. It was so long ago (2013?)

 

[hlepic211]

Again I fully agree with you in principle, yet if I want to invest in real estate outright (mid to high 7 figs), invest into some interesting startups or funds (mid 6 figs to low 7 figs) and have some other spare cash like options with low yield , Say mid-high 7 figs (problem of crypto is that you don't have a really solid option to hedge against crypto without a counterparty risk; I don't trust stables enough, exchanges have counterparty risk or if you just hold cash can deplatform you and are not insured) , then you kinda do need a bank ,right ?

I have missed out on a few interesting distressed real estate deals as I had no proper bank account that could accept and wire onwards a mid-7-figs amount to acquire the real estate...

And as described above, for some reason, they actually don't bluff. They don't get back to me after rejecting me for an account opening....

For this purpose you need 1-2 private banks.

1st one is Bank Frick
2nd one is any of the following: Turicum (GBZ), Maerki Baumann (CH)

You can use Bank Frick as a proxy for withdrawals from Kraken and then send the funds anywhere you want. For investments it's fine, never had a problem with a transfer. For real estate - some AML fascist EU countries where you want to buy real estate prefer you to wire the funds from your country of residence. So create a proper setup like Gibraltar CAT2+Turicum bank and go shopping from there.

If they decline you with account opening this means your docs are not in order (for 8 figs they have to be, it's the only option).

 

[Meta]

As per title. Too many banks I have spoken too asked a bunch of questions and collected a bunch of documents from me, just to ultimately tell me they don't like crypto as source of wealth. Many also ask for impossible (dumb) things like "can you get your bitcoin wallet statement with your name?" , refusing to understand that a bitcoin wallet is an alpha-numeric string and does not have your name attached to it, etc.

I am looking ideally for 2-3 private banks, ideally in neutral stable countries to open bank accounts. I have so far wasted too much time dealing with a lot of banks and each seems to have their own quirks, initially saying crypto is possible, but ultimately giving feedback that it is not.

Some banks that I was recommended who accept anything turned out to have really shady stories about them and I would not want to deposit my funds with so much hassle just to lose them. Generally, in light of a high chance of a financial collapse or military conflict, I would prefer to have my funds in the most stable banks possible (who will accept crypto as SoW)

Anyone has any good suggestions? Cheers

Hi. I had a similar situation (and similar experience indeed). Care to elaborate a bit on your situation (source of funds, your country of passport / residence) and share some names of banks / useful details?

The suggestions above are good, those are the most crypto-friendly banks, but in my experience it's a bit more difficult than just choosing a crypto-friendly bank.

 

[SCHLOSSFINANZ]

I repeat my advice you need a top tier introducer then it works. Private Banks are super scared if someone just calls and writes.

 

[hlepic211]

I repeat my advice you need a top tier introducer then it works. Private Banks are super scared if someone just calls and writes.

With an intro you can get big banks like HSBC, BNP etc. but do you really need them if the goal is to do a few real estate deals

Banks I mentioned work perfectly fine

 

[SCHLOSSFINANZ]

no you need an introducer also for the banks I mentioned here

 

[hlepic211]

no you need an introducer also for the banks I mentioned here

Bank Frick, Turicum, Maerki Baumann, Kaiser Bank - you don't need an introducer
They'll ask you for a min. deposit and SoF

 

[SCHLOSSFINANZ]

you seem to not understand. If you have an introducer connected to the respective CEO it works totally different.
Believe me I know them all (not Turicum) so I know what I am talking about.

 

[hlepic211]

you seem to not understand. If you have an introducer connected to the respective CEO it works totally different.
Believe me I know them all (not Turicum) so I know what I am talking about.

I get I get it. What you don't understand is that you either have it from the start or you don't.
When you don't have it you don't chase an introducer who knows an introducer who will introduce you to the CEO or whoever because this is irrelevant.

You just walk in, provide what they ask you to provide and you're set. Then the SEPA transfer hours are same for all clients.

 

[turmpy]

You just walk in, provide what they ask you to provide and you're set. Then the SEPA transfer hours are same for all clients.

This is also how I have opened local bank accounts, introducer was only required where the bank does not want to deal with customers directly.

 

[OKboomer]

Hi. I had a similar situation (and similar experience indeed). Care to elaborate a bit on your situation (source of funds, your country of passport / residence) and share some names of banks / useful details?

The suggestions above are good, those are the most crypto-friendly banks, but in my experience it's a bit more difficult than just choosing a crypto-friendly bank.

Crypto SoF + offshore , so I imagine not the easiest for compliance. But also no dirty stuff / pep / criminal or whatever

Yet it never ceases to amaze me how private bankers make face when seeing offshore (even respectable offshore) stuff. Well duh, if I were in a high tax country, I wouldn't probably be in your office offering a large deposit...

 

[wellington]

OTC, and then speak to them about their recommended banking partners, if you have a sizeable amount you will be offered a liquidity opportunity, and of-course banking.

 

[Mercury]

OTC, and then speak to them about their recommended banking partners, if you have a sizeable amount you will be offered a liquidity opportunity, and of-course banking.

I've suggested Swiss Mt. Pelerin, could you recommend other OTC + Banking service providers?

 

[wellington]

I've suggested Swiss Mt. Pelerin, could you recommend other OTC + Banking service providers?

Plenty in HK and work with far eastern China banking (Taiwan)

 

[Meta]

Crypto SoF + offshore , so I imagine not the easiest for compliance. But also no dirty stuff / pep / criminal or whatever

Yet it never ceases to amaze me how private bankers make face when seeing offshore (even respectable offshore) stuff. Well duh, if I were in a high tax country, I wouldn't probably be in your office offering a large deposit...

I mean "I'm German, moved to Bahamas in 2010 (here is my residency permit and utility bill from that time), bought BTC in 2012 (here is the receipt and bank statement), I worked as a software developer then (here is salary slip and bank statement), that coins never moved to other address, want to sell" is easy. Mt. Pelerin should work I guess. Another one which should work is alt.co | Digital Assets Compliance & Cash-Out Expertise

If it's not that easy for you, your situation is probably different. Then depending on details there may be different options.

What's your case? Being North Korean? Trading DeFi for years without keeping any records and ending with basically no SoF for where from are the coins? Launching ICO via Panama enity ignoring all securities-KYC-etc regulations?

 

[Mercury]

Plenty in HK

Any first-hand experience with most trusted ones?

 

[Jorozey]

As per title. Too many banks I have spoken too asked a bunch of questions and collected a bunch of documents from me, just to ultimately tell me they don't like crypto as source of wealth. Many also ask for impossible (dumb) things like "can you get your bitcoin wallet statement with your name?" , refusing to understand that a bitcoin wallet is an alpha-numeric string and does not have your name attached to it, etc.

I am looking ideally for 2-3 private banks, ideally in neutral stable countries to open bank accounts. I have so far wasted too much time dealing with a lot of banks and each seems to have their own quirks, initially saying crypto is possible, but ultimately giving feedback that it is not.

Some banks that I was recommended who accept anything turned out to have really shady stories about them and I would not want to deposit my funds with so much hassle just to lose them. Generally, in light of a high chance of a financial collapse or military conflict, I would prefer to have my funds in the most stable banks possible (who will accept crypto as SoW)

Anyone has any good suggestions? Cheers

Bitcoin is here so you can be your own bank.

Forget about the banks and their corporate interests, they want you to be poor and dependent on the state - FK them!

Self-custody your wealth/BTC, that's the way

 

[PhantomOf ThePits]

Any first-hand experience with most trusted ones?

Take proper ones like Zerocap Zerocap - Zero friction, borderless finance or Amber Amber Group: Premium Digital Wealth Management or Base58 Switzerland Trading and several others with skin in the game and bespoke customer service
Or exchange OTCs like https://www.kraken.com/institutions/otc
But negotiate the fees down as the bigger size you trade, the better bps you get

Got also experience with other OTC desks -- every desk has its pros/cons

Be vary of bank OTC desks as they often charge way higher exchange rates

 

[jafo]

Bitcoin is here so you can be your own bank.

Forget about the banks and their corporate interests, they want you to be poor and dependent on the state - FK them!

Self-custody your wealth/BTC, that's the way

100% agree! I learned this the hard way!

Of course, we can't deny that there are some real gems in this thread.

 

[BigUnicorn]

it never ceases to amaze me how private bankers make face when seeing offshore (even respectable offshore) stuff. Well duh, if I were in a high tax country, I wouldn't probably be in your office offering a large deposit...

The fashion industry is less snobbish, at least they’re coherent…