CIM Banque

[NicolasMaduro]

Anyone know have tried opening a business account with them lately?

Do they still require a local director?

 

[Sols]

It's been a few months since last but opening business accounts with CIM Banque has become extraordinarily difficult, even for EU based low/medium risk business with local directors and shareholders. They are on a very tight leash with their correspondent banks.

 

[aage]

They are on a very tight leash with their correspondent banks.

what exactly do you mean by that, are they losing their banking network ?

 

[Sols]

what exactly do you mean by that, are they losing their banking network ?

They are a small bank with no real ties to the actual Swiss economy. Correspondent banks regard them as high risk (not quite as bad as typical Caribbean offshore banks) and to ensure continued operation, CIM Banque in turn has had to lower their risk appetite.

I have seen some very strange rejections from them lately. Perfectly fine low-risk EU businesses with no offshore or non-EU connection.

When banks become so aggressive in their onboarding, it's usually due to correspondent banks tightening their grip or a regulator getting involved.

I don't think CIM is about to lose their correspondents, because they are taking steps to ensure they don't onboard dodgy clients. But they are probably over-correcting.

 

[Regis]

Hi there, Mr Sols is right on point about CIM Bank.
CIM BANQUE is totally unfit for Eu business or individuals, beside their total inefficiency at every levels, outrageous fees structures and hidden costs list, their bad reputation from their peers & the local justice department could represent a serious threat. I have personally experienced very suspicious connivance with local justice department; they basically report my account witch took severals years to unfroze... They of course denied it, but the full history of the investigation lead to very little or no doubts. More than 40.000€ were charged by the bank during the period by the way; Company cost 700€, High risk account 300€, Compliance fees, asset blocking fees 1855€, internet fees ...and the list goes on and on.