They claim to be associated with Wise and provide a virtual VISA card and a US bank account details just like wise once you pay a 10$ fee, is this legit? planning to use their card to withdraw money from my PayPal account and withdraw the money to other bank account and not keep it there. any advice would be appreciated
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does anyone have any experiences with sifr.com
- Thread starter Stew2k
- Start date
they're actually not affiliated with Wise they just use the same US bank, I just made a 10$ deposit will see if I get the virtual VISA card and try if it works
Probably nothing, usually when you're asked for a pic of yourself holding the passport you're also asked to hold a piece of paper with the date written on it. That would only be available for the date which is written on the paper.
Even if they tried to open an account with those they wouldn't be able to.
just because they are using the same bank does not make them legit!
Checking Archive.org, the website used to be owned by an Estonian company called IZEM OÜ in January 2022 and earlier, but they have removed that mention from the website now. There was also a link to a Reddit page (r/sifr) which is now banned.
There is probably more to be unraveled from a more detailed search.
The absence of any company details about Sifr.com itself is reason enough for me to just close the website and move on with my day.
There is probably more to be unraveled from a more detailed search.
The absence of any company details about Sifr.com itself is reason enough for me to just close the website and move on with my day.
It might be used for identity theft. However — and I don't mean this in a rude way — Algerian passports are not very valuable for such purposes.
The people involved seem to be Algerian. The director of IZEM OÜ is an Algerian person. e-Äriregister – IZEM OÜ
It looks like they had a Swiss company as well at some point, which is now dissolved. Messy. Hope nothing bad happens.
Hello, please feel free to reach out via email, ticket, or via contact details on my signature here.
1- We do provide USD checking account, similar to Wise but have features like domestic wires, virtual visa cards and direct access to bitcoin/crypto trading.
2- You can link your Sifr visa card and Sifr bank account to PayPal (or any platform for the matter) and withdraw balance to it, a balance you can spend, trade, send to friends or hold.
Hope this help, and again, please reach out if you have questions or need help with anything.
We are not associated with Wise, it's the last company we want to partner with (after PayPal, PP is the worst).
It just happen that we have the same sponsoring bank therefor we share the same routing number.
I would disagree, we are a US company and we can't just vanish with customers deposit.
We are a technology company, not a bank, we do not have the capabilities to use (and miss-use) customers assets.
KYC is a regulatory constraint we have to impose to customers, no company want to do it, risk customers data-breach and invest manpower & money in it but that's the cost of running a financial service business.
Pictures of your passport and your private information are not shared with any third party (unless you opt-in for banking, we forward to sponsoring bank), we use an "s3 cold storage" to store encrypted version of the photos.
Obviously true, I would like to point out that a bank will not risk offering its services to a startup company without due diligence.
A lot to unpack here,
Why would we take customers traditional banks don't want to take ? because we are a Bitcoin company and we believe in the values and properties of bitcoin.
How can we offer to deal with USD for high risk countries ? What's a high risk country ? just because someone is born in Egypt (that's a random example) doesn't mean he should't have access to world reserve currency and compete against first world people purely because of his place of birth !
If that same person immigrate to Europe or USA he magically becomes low risk ?
Here is a list of countries we support for USD banking : Sifr Exchange | Commission-Free Bitcoin Trading - we plan on expanding it.
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