Remote EU bank (no EMI) account

[neu13]

Revolut isn't an EMI if you are in the EU; it's a bank (although a specialised type).

Normal banks might not help you with that; they are often more anti-crypto than EMIs. Also, as an EU resident, why don't you open a bank account where you live?

Go for a crypto-friendly EMI - Verifo, Valyuz, Zen (probably the best), SwissMoney.

I don't live in the Eurozone and Euro accounts are expensive to operate. SwissMoney is ridiculously expensive. I've got several EMIs and this time I wanted insured bank accounts.

 

[jafo]

this time I wanted insured bank accounts.

Where you are a resident, do they not offer insured bank accounts?

 

[neu13]

Where you are a resident, do they not offer insured bank accounts?

I live in Hungary and nobody trusts the country or the banks here. The government charges a 0.3% tax on bank transfers (this comes on top of the bank's fees) and half of the banks are owned by the ruling party's family and friends. One of their banks failed already, where I had an account. I suffered no loss, but a lesson learned.

 

[Sols]

Revolut literally just froze my account, at this very moment - the first time ever. Haven't been given any information why or what's the problem. Based on what other people say, it's because of crypto income. That's why I'm looking for normal banks. Finci (EMI) is giving me a hard time as well, check my latest post.

Stick to crypto friendly financial institutions. "Normal banks" aren't more crypto friendly. Most are still very old fashioned and wary of crypto. No bank in Cyprus will touch you, for example.

 

[ilke]

I live in Hungary and nobody trusts the country or the banks here. The government charges a 0.3% tax on bank transfers (this comes on top of the bank's fees) and half of the banks are owned by the ruling party's family and friends. One of their banks failed already, where I had an account. I suffered no loss, but a lesson learned.

What's the issue with OTP Bank, for example? I had an account for myself and for a foreign company there, and they didn't charge anything for EUR accounts; I never had issues with them, either. I'm not that informed about HU; I'm from SK and didn't know there was such an issue with banking there. Hungarian accounts are still insured, though, regardless of currency. Why don't you go for a crypto exchange + EMI - Kraken (Irish EMI with Luxembourg dedicated IBANs), Spectrocoin (Lithuanian VASP and EMI with Lithuanian dedicated IBANs). They are both free for personal accounts, and Spectrocoin can give you a debit card as well.

 

[neu13]

Stick to crypto friendly financial institutions. "Normal banks" aren't more crypto friendly. Most are still very old fashioned and wary of crypto. No bank in Cyprus will touch you, for example.

Any experience with frozen accounts? Revolut's wording is confusing, it suggests maybe some authority requested the account to be frozen or maybe it was them, because I just added money with my other EU card a few minutes prior it was frozen. Have been using Revolut a lot, moving money to my other EMI accounts. Received money from crypto P2P deals and lots of customers say their account was frozen because some scammer is asking for the money back.

What's the issue with OTP Bank, for example? I had an account for myself and for a foreign company there, and they didn't charge anything for EUR accounts; I never had issues with them, either. I'm not that informed about HU; I'm from SK and didn't know there was such an issue with banking there. Hungarian accounts are still insured, though, regardless of currency. Why don't you go for a crypto exchange + EMI - Kraken (Irish EMI with Luxembourg dedicated IBANs), Spectrocoin (Lithuanian VASP and EMI with Lithuanian dedicated IBANs). They are both free for personal accounts, and Spectrocoin can give you a debit card as well.

I have local accounts don't get me wrong, but I am not keeping my Euros here. Diversification.