Any BANKERA.COM experiences?

[Gediminas]

if that's the case, you can guarantee approval before we pay 200 euro?

I can guarantee pre-approval. The rest depends on the answers and documents provided by the client while onboarding. If there are nothing shady or hidden secrets - it will be a success.

 

[lavel]

so if you can get our documents and we provide detailed business description you may guarantee boarding (if nothing change in the meanwhile) before we pay 200 euro?

 

[Gediminas]

so if you can get our documents and we provide detailed business description you may guarantee boarding (if nothing change in the meanwhile) before we pay 200 euro?

I would ask for some specific details (documents are not needed) and then I would pre-approve it with the compliance. Once the pre-approval is done, we would start then onboarding and only then you would have to pay the application fee.

Based on my previous experience, this works like a charm.

 

[Gediminas]

I am one of the first who received a card today from Bankera. Finally!

Bankera (to be more precise, Pervesk, a company that belongs to their eco-system) has become a principal member of Visa. This fact alone tells everything about the reliability of this company. They are the only one fintech run by Lithuanians who have achieved this. Be sure that Visa is not giving that to everyone who asks.

The easy way for them would have been to partner with 3rd party card provider, but they took the longer step.

At this moment they will issue cards only for personal accounts; cards for businesses are coming in the 1st quarter of 2021.

 

[John Spectre]

It is strange, but BIN number of the card 439680 is belong to USA issuer, not LT.
Also it reported as a CREDIT card, not DEBIT as mentioned in picture.
And again, no any real info in their site about card, which is continue to strange trend while after a lot of time NO real users could comment bankera service.

 

[rey skywalker]

when i go in bank they not charge for compliance ? why emi who has much less cost should charge?
it take them 5 minutes to revieuw if they want to open account or not

 

[Gediminas]

after a lot of time NO real users could comment bankera service.

Read the whole thread once again.

Looks like the bins are yet to be updated in the place where you check them.

 

[Gediminas]

it take them 5 minutes to revieuw if they want to open account or not

This sounds a little too funny. Obviously you have no idea how compliance processes work.

 

[Igemon]

At this moment they will issue cards only for personal accounts; cards for businesses are coming in the 1st quarter of 2021.

Cards are for EEA residents only, as usual?

 

[Sols]

It is strange, but BIN number of the card 439680 is belong to USA issuer, not LT.
Also it reported as a CREDIT card, not DEBIT as mentioned in picture.
And again, no any real info in their site about card, which is continue to strange trend while after a lot of time NO real users could comment bankera service.

This is pretty common for new card programs. The BIN was probably used by a US issuer at some point, which then retired it and now Visa assigned 439680 to Bankera/Pervesk. Give it some time and even public BIN information will be updated to reflect that it's a Lithuanian BIN.

 

[bilderberger]

I would ask for some specific details (documents are not needed) and then I would pre-approve it with the compliance. Once the pre-approval is done, we would start then onboarding and only then you would have to pay the application fee.

Based on my previous experience, this works like a charm.

How would Bankera feel about Seychelles Ltd, with corporate nominee as director and shareholder? All above board, but Transferwise initially balked at the nominee. Had to provide proof of UBO (certificate of trustee) to overturn the initial rejection. Wouldnt want to pay €200 for a rejection.

 

[Gediminas]

How would Bankera feel about Seychelles Ltd, with corporate nominee as director and shareholder? All above board, but Transferwise initially balked at the nominee. Had to provide proof of UBO (certificate of trustee) to overturn the initial rejection. Wouldnt want to pay €200 for a rejection.

I had successful cases with Seychelles entities and nominees, but most important is what is the business about and who is the UBO.

They are fine with offshore jurisdictions.

 

[bilderberger]

Business is internet marketing, SEO, PPC management and advertising related. UBO is EU resident, though LT is a bit close to home.

 

[AdamT1]

Business is internet marketing, SEO, PPC management and advertising related. UBO is EU resident, though LT is a bit close to home.

I assume you know, that you will be reported to your home country under CRS?

 

[AdamT1]

AML law of Lithuania does not require to collect proof of tax residency of the client in all cases. They apply a risk-based approach and decide in which circumstances, based on the general risk level of the customer and/or transaction, they need to take additional enhanced due diligence measures, such as the requirement to provide documentary proof of the information provided.

Hi Gediminas, how you are able to reconcile the following contradictory statments of yours regarding Bankera KYC procedures & CRS reporting:
1)on one hand you say that Bankera does not require proof of tax residency of tehir clients
however at the same time
2)in thread about EMI CRS reporting you say that Bankera reports clients under CRS same way as all EU EMI

Under CRS financial account information to be exchanged includes mandatory Tax Identification Number (TIN) of each client per Jurisdiction.

How it can be that Bankera fulfills CRS requirments without collecting TIN?

I dare to note that if TIN is collected by requesting clients to simply enter their TINs in application form without further ability back it up with documentary proof it says a lot about their AML compliance competences.

​

 

[Gediminas]

Hi Gediminas, how you are able to reconcile the following contradictory statments of yours regarding Bankera KYC procedures & CRS reporting:
1)on one hand you say that Bankera does not require proof of tax residency of tehir clients
however at the same time
2)in thread about EMI CRS reporting you say that Bankera reports clients under CRS same way as all EU EMI

Under CRS financial account information to be exchanged includes mandatory Tax Identification Number (TIN) of each client per Jurisdiction.

How it can be that Bankera fulfills CRS requirments without collecting TIN?

I dare to note that if TIN is collected by requesting clients to simply enter their TINs in application form without further ability back it up with documentary proof it says a lot about their AML compliance competences.

​

I believe they do everything fine if they managed to pass three audits (one of them was very recently actually), don't you think so? Looks like you don't know how regulations work as much as you believe so. Bankera has a great team (including law experts, compliance experts, etc).

 

[AdamT1]

I believe they do everything fine if they managed to pass three audits (one of them was very recently actually), don't you think so? Looks like you don't know how regulations work as much as you believe so. Bankera has a great team (including law experts, compliance experts, etc).

Enlighten me if I missed something and they had a single audit of their AML procedures by FNTT who is the ultimate regulator supervising compliance with the AML of LT?

 

[Gediminas]

Enlighten me if I missed something and they had a single audit of their AML procedures by FNTT who is the ultimate regulator supervising compliance with the AML law of LT?

I am not part of their team so I don't know such details, but I suppose even if they have been audited by the financial crime unit, they would have passed this too. What is your goal with those random questions? What are you trying to achieve? Do you think they are so stupid to risk their license with non-compliance? Do you think they employ monkeys? You sound like the one who would never be convinced with any answer that was given. I have given you so many answers already to prove they are doing things right. I don't see any point in escalating this further.

 

[AdamT1]

Yes, I agree there is no point in this discussion any further as you simply won't bother to dig deeper in uderstanding what you are really selling, and once the Bankera goes under and people who followed your advice by engaging them will loose money or get in to tax compliance troubles you will say that this was totally unexpected and happened because of some unforeseen changes and they were compliant at the time blah blah..

For the record - as per all of the above I believe they are extremelly high risk EMI who most likelly does not adhere to local AML and least what can happen their clients (especialy those holding accounts with IBCs) will be bashed with unexpected DD requests regarding thei entities' tax residency.

But no worries for you, as you take your commission only for opening the account and what is going to happen to clients later it is not of your concern.

 

[Gediminas]

You are very wrong. I have no doubts about their compliance with AML laws. I know many from their team and I know what competencies they have. I don't know who are you, but I doubt you know as much as they do. You are just speculating, nothing else.

Peace