Canadian bank closing accounts

[cashking]

I live in Canada and constantly receive wires and do transfers. However, banks keep closing my accounts, as Canadian banks are too sensitive. Do you guys have any alternatives for receiving money from different countries or any other country where banks are more flexible about having many transactions?

 

[daniels27]

Are you resident? Where is the money coming from?

 

[cashking]

Canadian resident. Money coming from all over. (States, Australia , portugal, dubai & more)

 

[daniels27]

Ok but why they pay you? What do you answer when the back asks?

 

[Alexmorgan]

Canadian resident. Money coming from all over. (States, Australia , portugal, dubai & more)

If you have legit business and record of invoices and contracts then your problem is Dubai

 

[cashking]

I do a lot of transactions and need a bank that doesnt close if there’s too many of them.

If you have legit business and record of invoices and contracts then your problem is Dubai

Good to know. But is there a country where they are more lenient with wires/transfers. Because canadian accounts gets close for barely no reason

 

[wellington]

Why not use a EMI in the middle as a consolidation buffer.

Also I take it your banks in Canada are commercial (your account) - if not that’s probably another issue.

Oh and perhaps factor in stable coin payments.

 

[cashking]

Why not use a EMI in the middle as a consolidation buffer.

Also I take it your banks in Canada are commercial (your account) - if not that’s probably another issue.

Oh and perhaps factor in stable coin payments.

Whats a good emi to use?

 

[wellington]

Whats a good emi to use?

I’m not Canadian so can’t comment

 

[jafo]

factor in stable coin payments.

This has saved my business, sped up transactions, and then taken my trading to a whole new level I NEVER thought possible. Furthermore, it has bulletproofed me against bank monkeys and their parasitic regulatory capture.
It's been an absolute lifesaver!

 

[cashking]

This has saved my business, sped up transactions, and then taken my trading to a whole new level I NEVER thought possible. Furthermore, it has bulletproofed me against bank monkeys and their parasitic regulatory capture.
It's been an absolute lifesaver!

Ok good to know. Will inquire

 

[Sols]

What reason do the banks give for closing your account?

Are you for example conducting business activities on a personal account?

 

[cashking]

What reason do the banks give for closing your account?

Are you for example conducting business activities on a personal account?

both. Closed my business one and my personal. Im assuming that it was regarding my transactions. Too many transactions exceeding 10k

 

[Sols]

both. Closed my business one and my personal. Im assuming that it was regarding my transactions. Too many transactions exceeding 10k

What kind of business is it? What reason do the banks give you when closing the account?

I see companies transacting hundreds of thousands and millions per day. Amount alone isn't an issue, especially on business accounts.

 

[jafo]

both. Closed my business one and my personal. Im assuming that it was regarding my transactions. Too many transactions exceeding 10k

There are no surprises here! You aren't just "making" it—you are killing it. That's a no-no in today's society!
OCT made a video about this here:

 

[cashking]

What kind of business is it? What reason do the banks give you when closing the account?

I see companies transacting hundreds of thousands and millions per day. Amount alone isn't an issue, especially on business accounts.

Yup i know but welcome to canada where they shut down your account for no reason.

Where they can seize your account for supporting the truckers (during covid)

Import/export business……..

Long story short i know i can use use crypto but some rather the old school bank method

There are no surprises here! You aren't just "making" it—you are killing it. That's a no-no in today's society!
OCT made a video about this here:

Thats crazy. Im actually gonna look it up.

Thank you

 

[berseker]

I do a lot of transactions and need a bank that doesnt close if there’s too many of them.


Good to know. But is there a country where they are more lenient with wires/transfers. Because canadian accounts gets close for barely no reason

there is always a reason no bank will turn down money, and as stated before your issue is having wires coming all over the world with countries that are considered high risk for the bank appetite.

 

[jafo]

there is always a reason no bank will turn down money

The bank is an inanimate object! It's NOT the bank!
It's some low IQ frustrated bank monkey(s)!

 

[wellington]

They did this extensively in the UK and de banked something like 2m people forcing them to use EMIs which ironically usually bank from within the same banks

 

[daniels27]

Just use TD I am sending millions there over and over again for years and the company still has the same account number.