Business bank account for crypto reseller from EU to South Africa

[kuvalda204]

Hi,

We have a Cyprus company which buys crypto in EU, resells it in South Africa and sends proceeds back to EU.
We're looking for a new bank account in a reliable bank to scale the operations.

Can you please advise any options/introducers/etc?

 

[Andrew Gooden]

Hi,

We have a Cyprus company which buys crypto in EU, resells it in South Africa and sends proceeds back to EU.
We're looking for a new bank account in a reliable bank to scale the operations.

Can you please advise any options/introducers/etc?

Just type list of Banks at the search section above. A list have been completed by Darkster and updated by others. Check the latest list also keep in mind that the days of Private Banking is almost gone due to Common Reporting Standard or CRS. Most judication have signed up and as far as I know only 12 countries have not so far. There is already a post on that.

 

[kuvalda204]

Just type list of Banks at the search section above. A list have been completed by Darkster and updated by others. Check the latest list also keep in mind that the days of Private Banking is almost gone due to Common Reporting Standard or CRS. Most judication have signed up and as far as I know only 12 countries have not so far. There is already a post on that.

Thank you for your reply. However, we have checked this list already. Most of the institutions there are EMIs which are not working with SWIFT. And most of the rest do not accept non-local companies. We contacted 90 if not 100% of that list already. It's a great compilation, but unfortunately it does not work for us. This is why I asked for recommendations or introducers here.

 

[Andrew Gooden]

Thank you for your reply. However, we have checked this list already. Most of the institutions there are EMIs which are not working with SWIFT. And most of the rest do not accept non-local companies. We contacted 90 if not 100% of that list already. It's a great compilation, but unfortunately it does not work for us. This is why I asked for recommendations or introducers here.

Why not just look for an alternative to Swift and then ditch it? Check out www.moneycorp.com/, Currencies Direct
https://www.travelmoneyoz.com

 

[kuvalda204]

Why not just look for an alternative to Swift and then ditch it? Check out www.moneycorp.com/, Currencies Direct
https://www.travelmoneyoz.com

There are legal implications on the South African side not allowing to use intermediaries in our particular scenario. It has to be a bank account.

 

[Andrew Gooden]

There are legal implications on the South African side not allowing to use intermediaries in our particular scenario. It has to be a bank account.

Interesting! Eh! I have to do a bit of research and get back to you. Hush!

 

[Andrew Gooden]

Thank you for your reply. However, we have checked this list already. Most of the institutions there are EMIs which are not working with SWIFT. And most of the rest do not accept non-local companies. We contacted 90 if not 100% of that list already. It's a great compilation, but unfortunately it does not work for us. This is why I asked for recommendations or introducers here.

CHECK this thread: EMIs that accept SWIFT transfers?

 

[kuvalda204]

Interesting! Eh! I have to do a bit of research and get back to you. Hush!

If it was something simple - I would not ask for advices here )

CHECK this thread: EMIs that accept SWIFT transfers?

Thanks, we checked those already. MisterTango does not do SWIFT, and we can't accept Leopay service risks due to the high volumes.

 

[Andrew Gooden]

If it was something simple - I would not ask for advices here )


Thanks, we checked those already. MisterTango does not do SWIFT, and we can't accept Leopay service risks due to the high volumes.

Sorry, this seem to be a hard one. The world is changing indeed. I hope someone else can be of better assistance. My apologize! Hush!