Account Closure

[bigladsmith]

Well the inevitable has occurred, my current bank have advised my account will be closed at the end of the month pending a review of all clients.

So the hunt is on for a new bank.
My company is located in the Seychelles hence my options will be limited but apart from EPB what are my options?

Has anyone experience of Transferwise? What is their CRS position also?

are there any other non-CRS options?

Let me know folks.

 

[JohnLocke]

Has anyone experience of Transferwise? What is their CRS position also?

For me it has been working fine using Transferwise and as you may see from the many threads around they don't do any reporting yet.

 

[user9823671]

IS there going to be any differences of effectiveness if you are an online business selling one off big items vs a subscription product with smaller monthly charges?

 

[Gediminas]

Well the inevitable has occurred, my current bank have advised my account will be closed at the end of the month pending a review of all clients.

So the hunt is on for a new bank.
My company is located in the Seychelles hence my options will be limited but apart from EPB what are my options?

Has anyone experience of Transferwise? What is their CRS position also?

are there any other non-CRS options?

Let me know folks.

What is the business you do?

 

[GuevaraGoldberg]

Is it Stern Bank that is closing your account at the end of this month?

 

[Martin Everson]

My company is located in the Seychelles hence my options will be limited but apart from EPB what are my options?

Try Al Salam bank Seychelles. See below post I made a while ago.

Al Salam bank of Bahrain opened a branch in Seychelles. Could be an option to investigate.

https://www.alsalamseychelles.com/en/Pages/default.aspxOpening Docs
https://www.alsalamseychelles.com/en/RETAIL-BANKING/Accounts/Documents/Non-Individual application form_Seychelles.pdf

P.S You still owe me a beer.

 

[DarkNonow]

Hi there.
Al Salam bank Seychelles do need an introducer or not for Individual account?

 

[bigladsmith]

Is it Stern Bank that is closing your account at the end of this month?

Yes that’s correct

 

[bigladsmith]

Try Al Salam bank Seychelles. See below post I made a while ago.



P.S You still owe me a beer.

Hey, yes I do still owe that beer, you know where I am so if you happen to be in my part of the world let me know Martin.
I’ll take a look at that thread right now.

 

[DGTLOTC]

What is your business ? sector/industry wise ?

what currencies are
You looking for ?

 

[bigladsmith]

What is your business ? sector/industry wise ?

what currencies are
You looking for ?

I’m a consultant in the engineering sector, nothing shady or underhand. Currencies would be USD and GBP

 

[Martin Everson]

Hi there.
Al Salam bank Seychelles do need an introducer or not for Individual account?

Not sure. Just apply if you need an account. They won't bite.

 

[bigladsmith]

Not sure. Just apply if you need an account. They won't bite.

Does anyone know the banks CRS reporting? I assume they report as they are based in the Seychelles

 

[Spinat]

Not sure. Just apply if you need an account. They won't bite.

Do you know if they only accept Seychelles companies or foreign companies too?

 

[Martin Everson]

Does anyone know the banks CRS reporting? I assume they report as they are based in the Seychelles

They report.

Do you know if they only accept Seychelles companies or foreign companies too?

They accept other companies but they are in Seychelles to fill the gap in market for banking Seychelles offshore companies.

 

[bigladsmith]

They report.



They accept other companies but they are in Seychelles to fill the gap in market for banking Seychelles offshore companies.

Bad luck on the reporting

 

[Spinat]

Thank you very much for the response Martin. It is still useful for all of us with Seychelles companies.