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I need an extra account for my Switzerland AG for banking?

EliasIT

EliasIT

Corporate Services
Mentor Group Lifetime
Dec 10, 2010
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#1
I have already a Wise account for my Switzerland AG - everything is going well. However, there is too much money in there now and I would like to follow the evergreen saying, "don't put all your eggs in one basked" !

What is the best alternative to Wise, if possible also not with reporting for now. I'm well aware of that CRS is unavoidable but I'm in a stage in the middle of my journey to completely disappear in a few months. After that, I don't care about CRS any longer.
 
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#2
www.klarpay.com

Klarpay

Multi-currency accounts, global payment acceptance and disbursement for digital businesses.
www.klarpay.com www.klarpay.com
fiat24.com

Fiat24 - Spend your crypto

Extend your payment universe, cross barriers and save on overhead. Designed for both retail users and merchant clients.
fiat24.com fiat24.com

Yapeal – Wir sind keine Challenger Bank. Wir fordern das Banking heraus.

yapeal.ch yapeal.ch

May be this also works
N26,Neon,Revolut

Crypto friendly
SEBA Bank
Sygnum



www.alpian.com

Alpian: Swiss banking excellence. For all.

Banking and investing has never been simpler. Create and manage your ideal investment portfolio with Swiss banking experts at your disposal. Get started now.
www.alpian.com www.alpian.com
 
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#3
klarpay is also in the resource of mentor group gold. Does anyone has experience with them ?
 
#4
EliasIT said:
I have already a Wise account for my Switzerland AG - everything is going well. However, there is too much money in there now and I would like to follow the evergreen saying, "don't put all your eggs in one basked" !

What is the best alternative to Wise, if possible also not with reporting for now. I'm well aware of that CRS is unavoidable but I'm in a stage in the middle of my journey to completely disappear in a few months. After that, I don't care about CRS any longer.
Click to expand...
Don't get the issue with crs.
Can't you open a local account for your corp? Normally your agent should be able to help, substance all kind of compliance is already done by them.
 
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#5
Unfortunately it is not possible, they are not skilled enough. I also don't need any advanced solution, KLARPAY, if they take our business, could be an option. But I am open to more good suggestions.

I'm waiting for KLARPAY to respond, could be a good match if they can be trusted.
 
#6
EliasIT said:
Unfortunately it is not possible, they are not skilled enough.
Click to expand...
Surprising; but let's put it aside.
EliasIT said:
I also don't need any advanced solution, KLARPAY, if they take our business, could be an option. But I am open to more good suggestions.
Click to expand...
I guess that the key factor can be your business. Can you share what business are you in? (Feel free to PM me if you do not like to go public.)
EliasIT said:
I'm waiting for KLARPAY to respond, could be a good match if they can be trusted.
Click to expand...
I have no personal experience with them, I must admit. AFAIK, they are used e.g. by some crypto exchanges to open fiat accounts with dedicated IBANs for their customers. Also Swiss regulation is quite strong (they are regulated by FINMA as a deposit-taking financial institution). But it is worth doing further due diligence.

Re: CRS.
Be advised that any institution with a banking licence in an AEOI/CRS state reports now inevitably – i.e., forget about N26, Revolut, SEBA Bank, Sygnum, Alpian, Yapeal. I personally would be afraid even about Fiat24, Klarpay and Neon, as they have Swiss deposit-taking fintech licence. Switzerland is not Lithuania. The safe bet is (IMO) to go with a bank in non-(AEOI/CRS) country, it is still possible.
 
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#7
EliasIT said:
Unfortunately it is not possible, they are not skilled enough. I also don't need any advanced solution, KLARPAY, if they take our business, could be an option. But I am open to more good suggestions.

I'm waiting for KLARPAY to respond, could be a good match if they can be trusted.
Click to expand...
Revolut is supposed to be easy for Swiss AGs, I know of folks who could get it with even crypto related activities.
No idea about CRS tho, but I would not could count on evading this inside europe.
 
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#8
Forester said:
Switzerland is not Lithuania. The safe bet is (IMO) to go with a bank in non-(AEOI/CRS) country, it is still possible.
Click to expand...
Thank you so much for your response, what bank would you suggest - are there any Neobanks like Wise or similar that would accept Switzerland AG's ?

JackAlabama said:
Revolut is supposed to be easy for Swiss AGs, I know of folks who could get it with even crypto related activities.
Click to expand...
I know Revolut, but they are not for me, I don't like them.
 
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#9
EliasIT said:
Thank you so much for your response, what bank would you suggest - are there any Neobanks like Wise or similar that would accept Switzerland AG's ?
Click to expand...
I would personally prefer North Macedonia, where I am not aware of any neobank – so personal visit is probably necessary. Halkbank (English - Home) or Silk Road Bank (https://silkroadbank.com.mk/index.php?lang=en) would be my options. AFAIK, they accept foreign legal entities. (Silk Road Bank even claims to be backed by a Swiss capital, so might be really open to Switzerland AG ;) but I guess there is some Chinese capital behind :) )
Disclaimer: I have no direct experience with abovenamed banks yet, just some reference from the past and I am thinking about opening an account there in the short- or mid-term future... If there is someone with last-time experience here, I will be happy to read.
EliasIT said:
I know Revolut, but they are not for me, I don't like them.
Click to expand...
Neither I do ;) (Furthermore, it is a bank /with licence/ in the AEOI/CRS country.)
 
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#10
EliasIT said:
Thank you so much for your response, what bank would you suggest - are there any Neobanks like Wise or similar that would accept Switzerland AG's ?


I know Revolut, but they are not for me, I don't like them.
Click to expand...
Have you tried at your "friendly" statebank in your canton?
www.zugerkb.ch

Zuger Kantonalbank

Die führende Bank in der Wirtschaftsregion Zug.
www.zugerkb.ch www.zugerkb.ch

You can also hold cash btw. If you keep your paperwork in order, they have nothing against this and you will be able to pay it back into your business bank account.

Forester said:
I would personally prefer North Macedonia, where I am not aware of any neobank – so personal visit is probably necessary. Halkbank (English - Home) or Silk Road Bank (https://silkroadbank.com.mk/index.php?lang=en) would be my options. AFAIK, they accept foreign legal entities. (Silk Road Bank even claims to be backed by a Swiss capital, so might be really open to Switzerland AG ;) but I guess there is some Chinese capital behind :) )
Disclaimer: I have no direct experience with abovenamed banks yet, just some reference from the past and I am thinking about opening an account there in the short- or mid-term future... If there is someone with last-time experience here, I will be happy to read.

Neither I do ;) (Furthermore, it is a bank /with licence/ in the AEOI/CRS country.)
Click to expand...
Better than to keep good old cash than dealing with such a bank ;)
 
#12
#14
#15
That's very good advise, I will pay them a visit next time I'm around. Will be in January, will update here.
 
#16
You can also give CIM Bank a try.
Small Swiss bank and they can open remotely (no personal visit needed).

They are a bit higher on the fees and don't have mobile banking app but eBanking works well.
Never had any major issues with them.
 
#19
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