Question Is it ok to transfer from TW to SQ ?

[Edge]

Hi,

Transferwise said the are fine with withdrawing from crypto websites, but you can't send to them.

Swissquote has some crypto offerings, will that be a problem if I send from TW to SQ ?

Thanks

 

[Fred]

Hi,

Transferwise said the are fine with withdrawing from crypto websites, but you can't send to them.

Swissquote has some crypto offerings, will that be a problem if I send from TW to SQ ?

Thanks

Hi, TW stopped accepting Crypto funds recently. At least Kraken don't execute withdraws to TW anymore because they say all the withdraws were rejected.

Swissquote is fine as it's a dedicated swiss IBAN in your personal name and a full bank. Just mention as reference private balance transfer.

 

[Edge]

Hi, TW stopped accepting Crypto funds recently. At least Kraken don't execute withdraws to TW anymore because they say all the withdraws were rejected.

Swissquote is fine as it's a dedicated swiss IBAN in your personal name and a full bank. Just mention as reference private balance transfer.

Ok thanks ..
Do you think the amount matters or not ? Should I do transfers less than 10k or they don't care ?

Kraken is full fledged crypto so I'm not surprised .. As far as I understood from talking to TW support, if you are withdrawing from a website with multiple offerings (crypto is just one of them) it's fine.

 

[Fred]

We work with the rep. Office here in Dubai - they don't have problems with first party incoming funds in your name - even you pay directly your salary from your company bank account they are fine. Only thing they don't like is regular 3rd party incoming funds.

For TW side it's completely fine as you are transfer to a REAL bank account in your name. TW only don't like if the money come for example from Revolut and goes to Paysera.

 

[Edge]

We work with the rep. Office here in Dubai - they don't have problems with first party incoming funds in your name - even you pay directly your salary from your company bank account they are fine. Only thing they don't like is regular 3rd party incoming funds.

For TW side it's completely fine as you are transfer to a REAL bank account in your name. TW only don't like if the money come for example from Revolut and goes to Paysera.

Thank you.

 

[Edge]

One more question since the account on SQ is new and I'm kinda lost ..
There doesn't seem to be multi currency or a way to add different currency accounts ..

Do I need to send CHF to fund the account ? or EUR is fine ?
Thanks

 

[Fred]

One more question since the account on SQ is new and I'm kinda lost ..
There doesn't seem to be multi currency or a way to add different currency accounts ..

Do I need to send CHF to fund the account ? or EUR is fine ?
Thanks

It's a multi currency IBAN.

Just check the correspondence banks they mention somewhere and you can see which currency you can send.

I know for sure EUR and USD.

Maybe they accept all the major currencies like CHF/EUR/USD/GBP and convert all other currencies automatically to USD.

Double check with support anyway.

 

[Edge]

It's a multi currency IBAN.

Just check the correspondence banks they mention somewhere and you can see which currency you can send.

I know for sure EUR and USD.

Maybe they accept all the major currencies like CHF/EUR/USD/GBP and convert all other currencies automatically to USD.

Double check with support anyway.

Thanks I double checked the email and it said "for all currencies".
So I just sent EUR.

 

[Loopylicious]

Thanks I double checked the email and it said "for all currencies".
So I just sent EUR.

Hey buddy, have you continued withdrawing funds from TW to SQ? There have been any problem? I am interested too in withdrawal money from TW to SQ but I want to make sure that there will be no problem with TW doing this kind of transaction, would aprecciate the help, thank you

 

[Edge]

Hey buddy, have you continued withdrawing funds from TW to SQ? There have been any problem? I am interested too in withdrawal money from TW to SQ but I want to make sure that there will be no problem with TW doing this kind of transaction, would aprecciate the help, thank you

Hi,
Yes I transferred everything no problem.
Although I kept individual transfers under 10k USD (I did between 7k and 8k euros per transfer), couple transfers per week every week, like clockwork and now I'm set. (Not sure if that was necessary though, but I had a particular situation withdrawing from etoro to TW, and then sending to SQ) ..

 

[Loopylicious]

Hi,
Yes I transferred everything no problem.
Although I kept individual transfers under 10k USD (I did between 7k and 8k euros per transfer), couple transfers per week every week, like clockwork and now I'm set. (Not sure if that was necessary though, but I had a particular situation withdrawing from etoro to TW, and then sending to SQ) ..

Ok so do you think I won't have problems with TW sending money to SQ or other dedicated personal IBAN platform (Like Dukascopy or Bankera)? I'm planning to received on TW from Paypal like 2 or 3 transactions of 1k per week to send them to my personal IBAN platform. How do you see any potential risk or problem here? Thank you again

 

[Fred]

Ok so do you think I won't have problems with TW sending money to SQ or other dedicated personal IBAN platform (Like Dukascopy or Bankera)? I'm planning to received on TW from Paypal like 2 or 3 transactions of 1k per week to send them to my personal IBAN platform. How do you see any potential risk or problem here? Thank you again

No issue as SQ is a fully regulated physical bank - TW like this.

What they don't like is money coming from EMI and going through to other EMI.