Crypto Friendly Offshore personal account

[Fox7]

Let me start by apologising in advance for posting a thread that is similar to another one on here, but my circumstances are a little different.

First, I have really had it with the Australian banks. Crypto is perfectly legal yet we are not allowed to buy/sell/trade bitcoin because they will shut down our accounts. It is not in their T&Cs anywhere yet they do everything they can to stop you from having anything to do with crypto! I even had an overseas transfer to a crypto exchange reversed without my consent or knowledge!

Now that I've vented to you good people, here is what I am looking for:

- An offshore bank that is crypto friendly. I do not trade in big volumes nor is this my full time business. I would say that my total volume per month would be around 15-20K Euro.

- A bank based in Europe that is willing to open an account remotely (or that has reps in Sydney).

- An excuse to explain to my bank why I am transferring money to an offshore account. The purpose of this is not to evade taxes (I do not mind paying them) but merely to trade crypto with no headaches!

- I have looked into Revolut, but it seems that it is mainly geared towards Euro citizens and not Australians (cant get an IBAN).

- This is for an individual and not a business.

I am happy to pay someone knowledgeable who can guarantee to help.

Thanks in advance!

 

[Internationaloff]

Try Mistertango.

 

[mrau]

Hi, everyone in this forum always refer to MisterTango as the best EMI (Electronic Money Institution, similar to a bank) which provides you with a dedicated IBAN account in EUR and it's crypto friendly.
So far, I don't remember that anyone here had mentioned any bank in any jurisdiction which is openly crypto friendly.

 

[Internationaloff]

Hi, everyone in this forum always refer to MisterTango as the best EMI (Electronic Money Institution, similar to a bank) which provides you with a dedicated IBAN account in EUR and it's crypto friendly.

Mistertango is BTC friendly and not the best.

 

[mrau]

Mistertango is BTC friendly and not the best.

I wrote "the best" because it's probably the very only EMI which is both cryptofriendly and provides dedicated IBAN.

 

[Internationaloff]

I wrote "the best" because it's probably the very only EMI which is both cryptofriendly and provides dedicated IBAN.

For this reason Mistertango is one of the first choices.

 

[Fox7]

Thank you both for the recommendation!

I looked into MisterTango and it seems to tick all the boxes - crypto friendly + unique IBAN + ability to receive wire deposits + SEPA transfers in Europe + (I believe) it's available for Australians..

Now I hope that it will not raise any redflags with my bank or the forex exchange that I use!

Are there any non-EMI European banks that you could recommend?

 

[Fox7]

How about CIM Banque? just realised that they do video conferencing

 

[mrau]

Hi, Even though CIM Banque do remote openings their review in this and other forums is not the best and it seems to have quite high fees for everything.
I never heard they are crypto friendly either. Did you?

 

[Fox7]

No you are right, I have read somewhere on this forum and on bitcointalk that they do not support crypto activity.

The search continues

 

[TRAPPIST1]

Mistertango is defiantly crypto friendly but the fees are totally unreasonable there verification process also is not that long. 2018 just started it will be interesting to see what other options emerges. Info about these things usually come up faster on twitter then a regular search e.

Mistertango.com - Lithuania - IBAN bank account EUR - Bitcoin friendly

 

[Fox7]

Very good point about Twitter!

I have signed up with Mistertango and I was pretty much instantly verified.

I have sent support a query and still haven't heard back.

I will be transferring a small amount in the next few days to test it out. I just hope that my bank doesnt flag it and start asking questions as they have been. It will be hard to explain why I am transferring large sums to a bank account in Lithuania lol

 

[TRAPPIST1]

Very good point about Twitter!

I have signed up with Mistertango and I was pretty much instantly verified.

I have sent support a query and still haven't heard back.

I will be transferring a small amount in the next few days to test it out. I just hope that my bank doesnt flag it and start asking questions as they have been. It will be hard to explain why I am transferring large sums to a bank account in Lithuania lol

Nice I might also sign up soon could you also please post about the fee they currently take, they might have changed that since that last forum post from that link. Why not just transfer a small amount at a time it might be better although it might not be worth it.

 

[Fox7]

The fees they charge are super reasonable!

No account maintenance.

10 EUR for SWIFT deposits and 5 EUR for SEPA for NON Europeans. European citizens pay lower fees.

I am transferring a few 100 AUD tomorrow to test it out. I will keep everyone posted.

 

[TRAPPIST1]

Thanks for the info I plan to sign up soon, I recently discovered transferwise there will be no SEPA fees looks promising.
Geld online überweisen | Mit TransferWise Geld ins Ausland versenden

It will be interesting also to see now when revolut starts to expand more.

 

[Martin Everson]

Hi, Even though CIM Banque do remote openings their review in this and other forums is not the best and it seems to have quite high fees for everything.
I never heard they are crypto friendly either. Did you?

Cim Banque does video conf but you are mailing to them original documents etc in post. They are way to expensive for fees also. I doubt they do anything crypto. btw they are not a poor mans bank.

 

[icecold]

What about the Poland bank BZWBK in Poland discussed in another thread here on the forum. They seem to be crypto friendly and also a valid bank!

 

[Fox7]

What about the Poland bank BZWBK in Poland discussed in another thread here on the forum. They seem to be crypto friendly and also a valid bank!

I have already contacted them. They read me the riot act

Dear Customer,

thank you for your message.

To open an account in our bank you need to visit one of our branches with:
1. your passport or EU country ID,
2. document confirming your right of residence issued by polish administration, which are. :
- residence card,
- member?s of the family of an EU citizen residence card
- member?s of the family of an EU citizen permanent residence card
- a document confirming the right of permanent residence
- or Polish identity document of a foreigner,
- or "Declaration of intention to entrust the performance of work to a citizen of the Republic of Armenia, the Republic of BELARUS, THE REPUBLIC OF GEORGIA, THE REPUBLIC OF MOLDOVA, THE RUSSIAN FEDERATION OR UKRAINE signed by the Labor Office.

In case of additional questions, please contact us.

 

[Fox7]

Thanks for the info I plan to sign up soon, I recently discovered transferwise there will be no SEPA fees looks promising.
Geld online überweisen | Mit TransferWise Geld ins Ausland versenden

It will be interesting also to see now when revolut starts to expand more.

Transferwise is not crypto friendly

 

[Fox7]

I have transferred $200 euros from a foreign exchange directly to mistertango today to test it out. I forgot to check if they require the transfers to be out of a bank account in your name?

Also, their customer service seems horrendous. 3 days later 2 tickets and still no word back from them...this does not make me feel confident in transferring large sums.

I also opened an account with OKPay but then I quickly closed it when they stated that the money has to come directly from my bank account.

I am looking at testing other bank / EMIs, I will keep everyone updated and in the meantime, any recommendations are welcomed!