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Best country for cash deposit

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lukas112

New member
What would you say is best country to open company bank accounts and deposit cash.
I am Latvian/ British

Thanks
 

Sols

Staff member
Mentor Group Gold
Banks in Italy, Germany, Austria, and Switzerland are used to handling large sums of cash, as long as you can prove the origin of the funds. Opening an account is a different story, though, especially if you can't prove any ties to that country. A foreigner walking in wishing to deposit cash is a huge red flag, so you better have a fantastic story and attractive client case to go with it.
 

Pup

New member
Italy absolutely not .... Germany it's the best choice but with a corporate account.
 

lukas112

New member
Thanks for replying guy so what’s best way to do this, open company and pay in cash for example in Germany
 

Pup

New member
Yeah any specifications .... Please tell us more about the project, my friends in Italy for cash service are using a german Company with corporate bank account. Due COVID 19 issue it's a big problem to travel
 

Piano

Active Member
Banks in Italy, Germany, Austria, and Switzerland are used to handling large sums of cash, as long as you can prove the origin of the funds. Opening an account is a different story, though, especially if you can't prove any ties to that country. A foreigner walking in wishing to deposit cash is a huge red flag, so you better have a fantastic story and attractive client case to go with it.
Let’s say you have a slip from your bank that shows you took out that amount of cash that you want to deposit in this bank , is that not enough prove ?
 

glengoolie

BANNED MEMBER
to open company bank accounts and deposit cash
if the deposits will be done often, if you go over 5k€, you will have to provide information on source of the money and purpose of the money. also if they are part of business transaction(B2B, B2C) you CANNOT use more than 5k€ cash. it is simply forbidden. i am not sure if it is EU- wise or only in selected countries.

if it will be only the initial capital for the company, one-off payment, i think you should be able to put in more than 5k€ but you still will have to provide source of the money because that is tied to he amount itself. you don't need any proof, you just tell them when they ask but they might not accept the reason(note that if you withdraw large sum, they will ask for source and purpose of the money and can prevent you from taking them out and possibly alert authorities to investigate. i wanted to withdraw 15k two times from two different branches and one was ok with just "for personal use" and i had to argue with the cunt in the other branch before she approved it).

so based on the purpose and your conditions, that you have not provided here, just pick a bank and ask them about these things. i think there will be some variations in different countries but in general this is how things are today. all of this is defined in the laws so you can simply look it up yourself for individual countries because they have to follow the EU legislation.

in essence, the entire system is setup so people don't use cash so everything can be traced through bank transfers under the bs of "money laundering". right now the hustle-free limit i 5k but i heard that might change so ... fuck EU :D
 

Piano

Active Member
if the deposits will be done often, if you go over 5k€, you will have to provide information on source of the money and purpose of the money. also if they are part of business transaction(B2B, B2C) you CANNOT use more than 5k€ cash. it is simply forbidden. i am not sure if it is EU- wise or only in selected countries.

if it will be only the initial capital for the company, one-off payment, i think you should be able to put in more than 5k€ but you still will have to provide source of the money because that is tied to he amount itself. you don't need any proof, you just tell them when they ask but they might not accept the reason(note that if you withdraw large sum, they will ask for source and purpose of the money and can prevent you from taking them out and possibly alert authorities to investigate. i wanted to withdraw 15k two times from two different branches and one was ok with just "for personal use" and i had to argue with the cunt in the other branch before she approved it).

so based on the purpose and your conditions, that you have not provided here, just pick a bank and ask them about these things. i think there will be some variations in different countries but in general this is how things are today. all of this is defined in the laws so you can simply look it up yourself for individual countries because they have to follow the EU legislation.

in essence, the entire system is setup so people don't use cash so everything can be traced through bank transfers under the bs of "money laundering". right now the hustle-free limit i 5k but i heard that might change so ... fuck EU :D
In which country you withdrew that 15K ?
So even to withdraw cash , there are limits !?

Let’s say you have a slip from your bank that shows you took out that amount of cash that you want to deposit for a corporate account in another bank as first time deposit is that slip not enough ?
 

glengoolie

BANNED MEMBER
there are two different contexts here(both related to cash).

the first one is about the amount. anything above 5k, in or out, needs to be explained. the source of the money and the purpose of the money. as long as it is cash, you will be asked by the clerk at the bank. they might say the reasoning is insufficient, they might block the transaction and require actual proof of what you claim or they can escalate it to the police. the larger the sum, the higher chance of trouble.

second part is the transaction itself. if it is for business purposes, like payment for invoice or buying a new car for yourself, you are not allowed to use more than 5k cash, the rest has to be made through bank transfer. i think this used to be 10k but now it was lowered to 5k, but don't quote me on that :)

as far as i know, this is EUs, EU-wide, anti money laundering law.
 
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