Is cashing out large amounts from Kraken to revolut a problem?

[Octagon]

Hello

I've used to cashout from Kraken and Mercury in USA with no problem

but now, I'm considering cashing out EUROs from Kraken to Revolut

both kraken and revolut are business accounts the same name.

I've done few grands with no problem but I'm going over 50k€-100k€ monthly
Most money coming to kraken are from other exchanges.


Would this raise any risk?

 

[W Fish]

If the value of the transactions is out of the ordinary for your Revolut account, then questions about SOF are probable.

 

[r202407]

I think the biggest problem will be revolut and not so much the transfers between exchanges. I would reach out beforehand and ask them.

 

[Octagon]

If the value of the transactions is out of the ordinary for your Revolut account, then questions about SOF are probable.

and How can I prepare proper SOF for this. Most of my first money will come from p2p transactions on binance, then move from binance to kraken.

 

[Octagon]

I think the biggest problem will be revolut and not so much the transfers between exchanges. I would reach out beforehand and ask them.

If you reach to revolut, they will always tell you everything is fine and we will contant you if we need any doc in the future.

 

[W Fish]

and How can I prepare proper SOF for this. Most of my first money will come from p2p transactions on binance, then move from binance to kraken.

I would not prepare anything. If everything is legit, it is easy enough to download and provide everything they ask for. In case they do.

 

[CyprusLawyer101]

We can do the conversion and transfers from an OTC Desk of our control to an EMI account to bw opened for you/your company in Cyprus which has previously recieved similar transactions; normally without any issues

 

[Martin Everson]

Most of my first money will come from p2p transactions on binance, then move from binance to kraken.

Does not sound good and reads like your trying to conceal source. Not saying you are but if you tell a compliance officer this then good luck. If you have SOF for the p2p transactions and good reasons for doing this then move forward with no fear.

However if you not willing to risk losing your Revolut account then look to off ramp elsewhere.