Bank reference letter & anonymity

dotbloup

Offshore Agent
BANNED MEMBER
Entrepreneur
I asked my private bank for a bank reference letter and they asked me for more information about the financial institution that was asking for it. If i tell all the truth about it is a breach of anonymity for me taking into account that my private bank (like yours maybe) keep track of all conversations with customers. It is not possible to ask for a generic bank reference letter. They want to know everything about the organization that asked for it.

I am surprised that few people are concerned here that their bank representative of their personal account is aware they want to deal with an offshore bank account...

When you guys say that Cyprus banks are great, i am quite surprised about it because they all ask for bank reference letters.

On the other hand, there are banks that don't require bank reference letter like Breder suasso or Rietumu.
 

Admin

Forum Moderator
Staff member
I asked my private bank for a bank reference letter and they asked me for more information about the financial institution that was asking for it. If i tell all the truth about it is a breach of anonymity for me taking into account that my private bank (like yours maybe) keep track of all conversations with customers. It is not possible to ask for a generic bank reference letter. They want to know everything about the organization that asked for it.

I am surprised that few people are concerned here that their bank representative of their personal account is aware they want to deal with an offshore bank account...

When you guys say that Cyprus banks are great, i am quite surprised about it because they all ask for bank reference letters.

On the other hand, there are banks that don't require bank reference letter like Breder suasso or Rietumu.
It depends all on the agent you are using to help you open the account, this apply for Cyprus as well as most other banks and offshore jurisdictions where people get asked for the most foolish documents to be provided.

That's also the different between the very cheap (get all for nothing) online operations and the more professional and expensive online services. You get what you pay for.
 

dotbloup

Offshore Agent
BANNED MEMBER
Entrepreneur
I think that the registered agents & banks who understand that their customers come to them because they want less bureaucracy (in Europe, lots of bureaucracy in the UK, Ireland, Belgium, Netherlands, Germany, France & Italy), they understood everything.

I mainly went for offshore to prevent myself to fill out forms rather than focusing on my job
 

negon

hannibal the cannibal
BANNED MEMBER
Entrepreneur
You can still find reliable agents with less complicated company formation and bank account opening requirements :)
 

thegazelle

Active Member
This is true. I applied for an offshore account in Europe a while back and had to get a bank reference letter. I went to my bank and they said they had to address it to the bank with which I am opening the account. I asked why and they said that's their process. When I told them, they asked me "why are you opening an account there?" The banker then got really nosy and I was like, can I not just get a letter indicating that I have been a customer here for such and such years in good standing, etc. Evidently not. Now that is a bank reference letter. If I just asked them to print the bank statements, there is no target recipient needed. Maybe I should have gone to a different branch.
 

Emirates

Building Trust
Entrepreneur
Maybe I should have gone to a different branch.
You need to do that, not all banks are as this bank. I have 1 bank that behave similar when I asked them for a reference letter. Today I have 3 soon 4 banks so it give me more options in the future.
 

Admin

Forum Moderator
Staff member
You can always start with a bank that won't require a reference letter to open an account for you. Build up a good customer relation with them and after a year or two you may get a reference letter from them. At least they will be willing to send it directly to the bank of your request!
 

drillbill

Offshore Agent
Business Angel
I think that the registered agents & banks who understand that their customers come to them because they want less bureaucracy (in Europe, lots of bureaucracy in the UK, Ireland, Belgium, Netherlands, Germany, France & Italy), they understood everything.

I mainly went for offshore to prevent myself to fill out forms rather than focusing on my job
Some agent will make the reference letter for you if that is what is required by the bank they work with and the client can't get it!!
 

kolagin

Active Member
What if my bank and agent refuse to get me a reference letter but the offshore bank requires it ??
 

pesto

Offshore Agent
Business Angel
Do you really think it is that hard to get a reference letter and stay anonymous :D
 

suzy

Corporate Services
Business Angel
Mentor Group
This is true. I applied for an offshore account in Europe a while back and had to get a bank reference letter. I went to my bank and they said they had to address it to the bank with which I am opening the account. I asked why and they said that's their process. When I told them, they asked me "why are you opening an account there?" The banker then got really nosy and I was like, can I not just get a letter indicating that I have been a customer here for such and such years in good standing, etc. Evidently not. Now that is a bank reference letter. If I just asked them to print the bank statements, there is no target recipient needed. Maybe I should have gone to a different branch.
Yeah it is what happen and that's why we don't want a reference letter from our current bank!! It is a no go if privacy matters!
 

suzy

Corporate Services
Business Angel
Mentor Group
Do you really think it is that hard to get a reference letter and stay anonymous :D
Question is not if it is hard but what information you will have to provide to your current bank in order to get a bank account offshore somewhere! If privacy really matters I would not look any further into real bank accounts but rather service like WorldCore, LeuPay, Xapo, AdvCash and so forth to get my money kept there.
 

pesto

Offshore Agent
Business Angel
Agree it is not worth to request reference letter from current bank if it's possible to avoid it!
 

cutmetwo

Building Trust
Entrepreneur
Is it a problem to get a bankers reference letter from the bank? If it is can a letter from Lawyer or CPA be the same as good?
 

pincho

Active Member
I asked my private bank for a bank reference letter and they asked me for more information about the financial institution that was asking for it. If i tell all the truth about it is a breach of anonymity for me taking into account that my private bank (like yours maybe) keep track of all conversations with customers. It is not possible to ask for a generic bank reference letter. They want to know everything about the organization that asked for it.

I am surprised that few people are concerned here that their bank representative of their personal account is aware they want to deal with an offshore bank account...

When you guys say that Cyprus banks are great, i am quite surprised about it because they all ask for bank reference letters.

On the other hand, there are banks that don't require bank reference letter like Breder suasso or Rietumu.
For bank reference letter get it from @auric and his bank it works for real account opening you don't need to scary of person privacy.
 

Latest Threads

Top