https://breinrock.com/

[csp dubai]

some one have any experience , i not understand exactly what they are , sols any idea?

 

[Obelix]

Someone told me was a good emi, i contact for an business account, agent was very kind, but 2000 euros to pay for onboarding, if they open the account, but i work with crypto, i told the agent, said no problem always show docs, but i dont want pay 2000 for open, and when send some money perphas will close the account, as CIM Banque did
So no experiences here

 

[jafo]

Someone told me was a good emi, i contact for an business account, agent was very kind, but 2000 euros to pay for onboarding, if they open the account, but i work with crypto, i told the agent, said no problem always show docs, but i dont want pay 2000 for open, and when send some money perphas will close the account, as CIM Banque did
So no experiences here

They are ALL like that...to one extend or another. I would AVOID anyone wanting my money and then telling me I have to pay them for them to have access to MY money! The world has gone mad!

 

[JohnLocke]

I would think a small amount is okay, but as soon as we move up to amounts over 250 EURO or the equivalent in other currencies, it's just too much.

That said, I have no experience with this service.

 

[Forester]

I would think a small amount is okay, but as soon as we move up to amounts over 250 EURO or the equivalent in other currencies, it's just too much.

You speak about onboarding fees, I presume.
Well, for some (really) high-risk business (like gambling, speculative FX, adult industry or high-risk territories involved) I can imagine and stomach even multiply of 250. (However Breinrock claim that they in fact do not accept high-risk industries.) 2000 is really a lot. And, of course, it matters a lot how much they charge upfront regardless of the result and what is really the onboarding fee... BTW, @Obelix, this 2000 EUR was upfront or after successfull onboarding?

Generally, I have never heard about them (this does not mean much). A complete absence of fees at their webpage is not attractive; on the other hand, they seem to be relatively transparent wrt office addresses and phones (of course I do not know whether it is really working). If they claim that “Our customer support team are always ready to assist via phone or email”, it's fine – phone support is not so common. It is interesting that although they claim to have HQ at Cyprus, their logo is clearly Canadian and they have Canadian and UAE licences only + are distributors of US, UK and CH solutions. I wonder inside what framework they are functioning at Cyprus/EU.
To sum it up – perhaps worth some more investigation...

 

[Obelix]

You speak about onboarding fees, I presume.
Well, for some (really) high-risk business (like gambling, speculative FX, adult industry or high-risk territories involved) I can imagine and stomach even multiply of 250. (However Breinrock claim that they in fact do not accept high-risk industries.) 2000 is really a lot. And, of course, it matters a lot how much they charge upfront regardless of the result and what is really the onboarding fee... BTW, @Obelix, this 2000 EUR was upfront or after successfull onboarding?

Generally, I have never heard about them (this does not mean much). A complete absence of fees at their webpage is not attractive; on the other hand, they seem to be relatively transparent wrt office addresses and phones (of course I do not know whether it is really working). If they claim that “Our customer support team are always ready to assist via phone or email”, it's fine – phone support is not so common. It is interesting that although they claim to have HQ at Cyprus, their logo is clearly Canadian and they have Canadian and UAE licences only + are distributors of US, UK and CH solutions. I wonder inside what framework they are functioning at Cyprus/EU.
To sum it up – perhaps worth some more investigation...

They said in case of successfull onboarding..
But i m afraid they open and moths later can close, and loose my money

Finally is what happened to me with a Swiss bank, they study all, i explained, all ok, paid like 2 years of high fees and didnt use so much.
Once start to use, they close my account, saying that compliance have so much work with transfer crypto related, but was something i said on onboarding

So im afraid, pay 2000 for sucess onboarding, and then same .....

 

[uranium]

They said in case of successfull onboarding..
But i m afraid they open and moths later can close, and loose my money

Finally is what happened to me with a Swiss bank, they study all, i explained, all ok, paid like 2 years of high fees and didnt use so much.
Once start to use, they close my account, saying that compliance have so much work with transfer crypto related, but was something i said on onboarding

So im afraid, pay 2000 for sucess onboarding, and then same .....

Please share swiss bank name that closed your account

 

[Obelix]

CIM Banque

 

[Lincoln Burrows]

Breinrock has the most expensive fees I have ever come across; below are the fees for High-Risk businesses without providing any special in return

Onboarding fee: €2,500
Minimum Transaction Fee: €1,000
Minimum Balance: €10,000
Incoming Fee: C2B 2.5% (MIN 50) TBD
Outgoing Fee: B2B 0.75% (MIN 50)

 

[csp dubai]

now all emi must have high fee, the compliance cost is too hi , if they not have centrolink or direct target 2 they go through correspondent that also will charge them

 

[Lincoln Burrows]

Their fees are absurd and they don't provide anything special.

 

[Forester]

now all emi must have high fee, the compliance cost is too hi , if they not have centrolink or direct target 2 they go through correspondent that also will charge them

True;

Breinrock has the most expensive fees I have ever come across; below are the fees for High-Risk businesses without providing any special in return

Onboarding fee: €2,500
Minimum Transaction Fee: €1,000
Minimum Balance: €10,000
Incoming Fee: C2B 2.5% (MIN 50) TBD
Outgoing Fee: B2B 0.75% (MIN 50)

but this is really a lot.
However, anyone is free either to use it or not... There are many EMIs, neobanks and banks, generally.

 

[Sols]

Desperate pricing for desperate clients. Says a lot about who the clientele is and what kind of exposures that creates which a regulator might find interesting one day.

 

[Clearsky Network]

True;

but this is really a lot.
However, anyone is free either to use it or not... There are many EMIs, neobanks and banks, generally.

Breinrock is one of the most expensive EMIs. Onboarding process is not easy.
The onboarding fees are non refundable.
In order to onboard a crypto exchange you must be very organized, have experienced MLRO and screening tools like sumsub. If The director acts as an MLRO and doesn't have a proper education for acting like one, the account will be declined.
C2B accounts are becoming extremely hard to open for startup exchanges. Minimum balance fee is becoming a standard requirement.
In case the exchange has over 6 months of history and meets all the regulatory requirements it is possible to get C2B accounts for as low as 0.3%.
The sad part is that most of the exchanges do not manage to keep their license active for more than 6 months...