Hi, I have a growing business and expecting to receive around $300K/mo with crypto in next months. Problem is that my profit is around 3% to 5% of total volume, that means I need to transfer 95% of $300K back to business partners.
Currently I transfer them via crypto, and it works but I want to make deal with other firms as they offer cheaper prices and more stability which will result in more profits. Majority of them require business entity and they only accept bank transfer payments.
- I'm not located in US or Europe, but need to make payments either in USD or EUR.
- No need to send all at once, I will send around same amount every day. ($10K with that calculation)
- I'll send money only to business accounts.
Any ideas, does it worth trying to get business bank account for this purpose or will I get flagged anyway after some volume?
P.S. I called it big because currently don't have any business banking history.
Currently I transfer them via crypto, and it works but I want to make deal with other firms as they offer cheaper prices and more stability which will result in more profits. Majority of them require business entity and they only accept bank transfer payments.
- I'm not located in US or Europe, but need to make payments either in USD or EUR.
- No need to send all at once, I will send around same amount every day. ($10K with that calculation)
- I'll send money only to business accounts.
Any ideas, does it worth trying to get business bank account for this purpose or will I get flagged anyway after some volume?
P.S. I called it big because currently don't have any business banking history.