bank account for registered crypto business

[PurpleBlack]

which bank to use for my crypto business? internal transfers and these things,monthly volume for start 100k to be scaled up to 3 million within 6 months,someone that does not feeze accounts like idiots and do not charge andorras gdp for registration fee

is revolut okay for this?

 

[Konstanz]

Bankera is specializing in crypto customers. Revolut is not really friendly for crypto payments

 

[Forester]

which bank to use for my crypto business?

The key questions:
– Where is this business registered?
– Where is registered the company that is running the business; or where are you resident if you are running it in your own name?

internal transfers and these things,monthly volume for start 100k to be scaled up to 3 million within 6 months,someone that does not feeze accounts like idiots and do not charge andorras gdp for registration fee

Understandable

is revolut okay for this?

No, it's not.

Bankera is specializing in crypto customers.

Yes. (But their registration fees are not low; and they take a half of fee upfront with no guarancy to be onboarded.)
Another possibilities (perhaps there are some) really depend on the answers to key questions above.

 

[PurpleBlack]

The key questions:
– Where is this business registered?
– Where is registered the company that is running the business; or where are you resident if you are running it in your own name?

Understandable

No, it's not.

Yes. (But their registration fees are not low; and they take a half of fee upfront with no guarancy to be onboarded.)
Another possibilities (perhaps there are some) really depend on the answers to key questions above.

thank you for your reply,business is registered in european union country and we have a license to operate as a crypto exchange

for bankera ive heard a lot and i dont mind paying thei registration fee if their service was good but most of what ive heard is negative,im not an idiot to apply for them and have it denied,losing 900 euro for no reason

 

[Forester]

thank you for your reply,

You are welcome.

business is registered in european union country and we have a license to operate as a crypto exchange

OK. A EU company with a license... Check Zen and Nebeus. If you are OK with SEPA only, try Intergiro. Nevertheless, for monthly turnover in millions,SEBA or Bank Frick would probably be the best bet.

 

[uplana]

Setup a EU company and approach Bank Frick which is the one Kraken use as well as other crypto exchanges. You may also look into what bank your competitors use, most often it is easy to find out and you can apply afterwards.

 

[PurpleBlack]

You are welcome.

OK. A EU company with a license... Check Zen and Nebeus. If you are OK with SEPA only, try Intergiro. Nevertheless, for monthly turnover in millions,SEBA or Bank Frick would probably be the best bet.

thank you again.my exchange will be a direct competitor to zen and nebeus,nebeus uses modulr and we are already in talks with modulr to integrate their service into our platform,modulr only supports eur and gbp tho so thats a problem,im pretty sure we will be able to grab a big share of their market and for that reason we cannot use them.any idea if brick and mortar banks in eu would open an account for us online?

Setup a EU company and approach Bank Frick which is the one Kraken use as well as other crypto exchanges. You may also look into what bank your competitors use, most often it is easy to find out and you can apply afterwards.

thank you.bank frick told me that we need at least 500k in fiat to be able to use their service and the company is currently sitting on approx 380k eur

 

[CoinMaster]

So you want to know what bank Zen and Nebeus is using!

 

[Forester]

thank you again.

OK

my exchange will be a direct competitor to zen and nebeus,

Well, I do not know any details about your business project; but be advised that neither Nebeus nor Zen are just crypto exchanges. Yes, you can convert crypto to fiat there and vice versa but they also run a lot of another important business. I am not much familiar with Nebeus but as Zen is concerned, their primary businesses are payment operations, (fiat) FX and cards. So they might not perceive you as a direct competitor.

modulr only supports eur and gbp tho so thats a problem,

I understand.

im pretty sure we will be able to grab a big share of their market and for that reason we cannot use them.

See above. „I do not have competitors. I have only potential business partners.” (If you convince them that you are bringing some business that is otherwise unreachable for them... why to refuse?)

any idea if brick and mortar banks in eu would open an account for us online?

In EU – no idea. Bank Frick LI, Seba or perhaps Sygnum (but the onboarding there is really not easy) CH; as already advised...

bank frick told me that we need at least 500k in fiat to be able to use their service

Pretty expectable. With Seba or Sygnum you can expect the same or more.

and the company is currently sitting on approx 380k eur

Well, in such a case you might have only an option to start with some EMI like Nebeus/Zen/Intergiro and move forward later; or to accumulate more capital....

So you want to know what bank Zen and Nebeus is using!

Good shot!

 

[PurpleBlack]

OK

Well, I do not know any details about your business project; but be advised that neither Nebeus nor Zen are just crypto exchanges. Yes, you can convert crypto to fiat there and vice versa but they also run a lot of another important business. I am not much familiar with Nebeus but as Zen is concerned, their primary businesses are payment operations, (fiat) FX and cards. So they might not perceive you as a direct competitor.

I understand.

See above. „I do not have competitors. I have only potential business partners.” (If you convince them that you are bringing some business that is otherwise unreachable for them... why to refuse?)

In EU – no idea. Bank Frick LI, Seba or perhaps Sygnum (but the onboarding there is really not easy) CH; as already advised...

Pretty expectable. With Seba or Sygnum you can expect the same or more.

Well, in such a case you might have only an option to start with some EMI like Nebeus/Zen/Intergiro and move forward later; or to accumulate more capital....

Good shot!

we will be offering fx trading pairs too,physical cards down the line also but will first start with virtual cards

both zen and nebeus have a really bad customer service and ive had my accounts frozen multiple times for days,i would not want to cooperate with such companies

 

[Clearsky Network]

I would recommend Payswix, onboarding is not easy at all but the fees are good. If you have a good history, i would go for Clear Junction