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Is it worth to pay 150 euro / month for Zen.com account?

but there is no justification to ask for tax returns and other general paperwork - such a request is a perfect moment to show the middle finger because it will get way worse, Revolut and Bankera are the last ones who tried this on me
Revolut asked me one time for tax documents, but it was a personal account not a business account. Wise did the same on the business account. But wise did it after 6figs went through the account.
 
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When did Zen & Blackcatcard start asking you for tax related documents? Already in the beginning or after 6figs went through the accounts?
Zen at opening, Blackcatcard when I started moving some money

but there is no justification to ask for tax returns and other general paperwork - such a request is a perfect moment to show the middle finger because it will get way worse, Revolut and Bankera are the last ones who tried this on me
you can’t argue with banking monkeys. Their game, their rules.
 
you can’t argue with banking monkeys. Their game, their rules.
sure, voting with my feet and money

call me naive but I'm very optimistic I will live long enough to see this whole s**t show to fall apart and bank scum begging for customers and behaving like any other business... I like to dream sometimes
 
when it comes to invoices, salaries and other documentation supporting individual transactions then fine, that's what we can generally accept and makes at least a basic sense

but there is no justification to ask for tax returns and other general paperwork - such a request is a perfect moment to show the middle finger because it will get way worse, Revolut and Bankera are the last ones who tried this on me
Yeah, NEVER heard of a brick and mortar bank asking for this , anyone heard different ?
 
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Yeah, NEVER heard of a brick and mortar bank asking for this , anyone heard different ?
Yes, frequently and in all corners of the world. It starts becoming very common when you transact six/seven figures and higher. Banks are required by law to make sure they aren't facilitating tax evasion. One simple method of reducing that risk is to ask to see tax returns.
 
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I don't really base our business on luck but rather on research and negotiations. And that's exactly what I've also started with Zen; we are trying to find out what the right price is for our business, they are looking into it and have promised to come back with an offer. So, I would say it's worth asking once in a while and also being ready to negotiate.

I will update here if we agree on something.
Looks like a good offering unfortunately won't work for me (i don't live in Eurostan).

Would be interested to have an update on the business side though (though no European company either) we do need a fiat payment gateway for retail/commercial service processing.

When did Zen & Blackcatcard start asking you for tax related documents? Already in the beginning or after 6figs went through the accounts?
I applied for Blackcatcard -> never ever got a notification or anything since. not even to say a application had been submitted lol.
 
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Yeah, NEVER heard of a brick and mortar bank asking for this , anyone heard different ?

Yes, frequently and in all corners of the world. It starts becoming very common when you transact six/seven figures and higher. Banks are required by law to make sure they aren't facilitating tax evasion. One simple method of reducing that risk is to ask to see tax returns.
Yes, the same for me. @void: Unfortunately, it can be very well justified by AML measures – as a part of the KYC procedure (to avoid misunderstanding: I do not like it at all and I would like to share your dream :) )
 
Unfortunately, it can be very well justified by AML measures – as a part of the KYC procedure (to avoid misunderstanding: I do not like it at all and I would like to share your dream :)
it may very well be... I'm just saying that for me anything directly unrelated to given transaction is a deal breaker, an impulse to let it go and close my account as such a company is cursed anyways - for now (at least when it comes to institutions I'm dealing with) it's still pretty rare

anyways, bitcoin adoption is growing...
 
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it may very well be... I'm just saying that for me anything directly unrelated to given transaction is a deal breaker, an impulse to let it go and close my account as such a company is cursed anyways - for now (at least when it comes to institutions I'm dealing with) it's still pretty rare

anyways, bitcoin adoption is growing...
NGL, here the USA/IRS is THE BIG winner in the world: Taxpayer Bill of Rights 8: The Right to Confidentiality

sure, voting with my feet and money
Same here! No hesitation! Euphemistically, any question asked of me beyond the minimum to ascertain I am "me", and I shoot first, aim later, and then question the corpse!

That "excuse" that "the government made me do it or I was just following orders" didn't hold water at the Nuremberg trials and certainly will NOT hold water with me. So many lives were destroyed and cut short by others "following orders". Now, it would be nice if the order followers doxxed the names and contacts of those who "made them do it".
 
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Yes, frequently and in all corners of the world. It starts becoming very common when you transact six/seven figures and higher. Banks are required by law to make sure they aren't facilitating tax evasion. One simple method of reducing that risk is to ask to see tax returns.

I assume it's mostly common with banks in countries where people moving to lower taxes or with EMIs. Never heard of anything similar in Tier 1 EU countries, you can transact millions with no questions.
 
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There have indeed been many posts deleted in this thread already. We would appreciate it if you stick to the topic or create a new thread when you change the subject.
 
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banks are required by law in all jurisdictions ?
Yes. Tax evasion is not legal anywhere, not even in places that have zero tax. So there is a possibility that any bank anywhere can ask to see a tax return.

I assume it's mostly common with banks in countries where people moving to lower taxes or with EMIs. Never heard of anything similar in Tier 1 EU countries, you can transact millions with no questions.
I couldn't find a definition anywhere of EU member state tiers and what country is in what tier (nor could I find out how many tiers there are), but I can't think of a single EU country where I haven't come across this request. Except maybe in the Nordic countries where the banks can just get tax returns by asking the local tax authority. Perhaps I just haven't experienced Tier 1 EU. But I have seen these requests from banks in Spain, France, Germany, Netherlands, and Switzerland.

Generally speaking, though, the bigger the bank and/or the bigger the economy of that country is, the less likely it is you'll be asked. Smaller banks and smaller countries have more at stake with each individual client so they are more likely to ask invasive questions.
 
There have indeed been many posts deleted in this thread already. We would appreciate it if you stick to the topic or create a new thread when you change the subject.
You are 100% correct here.

Just to help improve the site...

I just looked at my own comments and then reviewed the title and realized that my comment was off-topic. stupi#21

But this happens a lot because the header/pane is not frozen. It scrolls off the screen, so those who are like me and lacking in IQ forget the topic and while reading through the comments react to the comment. Kind of like when I was a kid playing "telephone" ->
Chinese whispers (some Commonwealth English), or telephone (American English and Canadian English),[1] is an internationally popular children's game in which messages are whispered from person to person and then the original and final messages are compared

So, to avoid this, in Excel and Google Sheets, I implement Freeze Panes:

1700198380995.png


So, I think if the site could lock the header (freeze it), so we can always see the narrow topic at hand, it would minimize absent-minded people like me from wandering off-topic. I took the liberty to create how the screen would roughly look like here:

Scrolling header.png


As you can see, the header is always visible and I won't have to rely on memory (which I have NONE doh948"").

I hope this helps, but I promise to "check into my brain" and confirm the narrow topic before typing.

Thanks,

Jafo
 
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Umm, okay, thanks for the suggestion, and it was indeed a really good one. But now it's like this, you can also see in the URL what the title of the thread is. Besides, I assume that one responds to what is asked in the first post and subsequently keeps it in mind when answering other 'responses' - but I can see from this thread that not many have understood the concept yet.. so we will see if we can tighten up on that doh948""
 
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