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Discussion in 'Business Discussion' started by james David, Jul 9, 2018.
Any suggestion for a good Luxembourgian banks?
Ok I will kick start
Keytrade Bank www.keytradebank.lu
Paypal Bank (joke) www.paypal.lu
This is false information, keytradebank only accept Lux entities
Yes I am wrong you are correct. They only accept foreign companies domiciling in Luxembourg
but the question still valid, we do need a lux banks reliable
Aside from Keytrade I bank (personal account) with BIL bank and BGL BNP Paribas in Luxembourg. I don't think those will have any interest.
Why do you want to bank in Luxembourg out of interest?
because we are seeking for a reliable banking system
Reliable? Bank in Germany, UK or France.. there must be more?
Well your going to be very disappointed then. 'Reliable' and 'banking' do not go together.
I suspect many Lux banks have cold feet for companies outside of the OECD and the EEA. I made a personal visit to a large Asian bank and they kindly declined to do business after a review of the corporate documentation and business plan. Their first question was if I had a half mill Euros deposit for starters. Other Lux banks have asked for higher investments like a mill Euros.
Hmm! I drove past PayPal / Ebay on the main street but didn't pay them a visit.
Yes Lux banks don't tend to venture outside Benelux countries for business. Business case needs to be strong to get in. I only got in while I was living in Lux and managed to hold on to those accounts after I left.
The banks all expect you to show some connection personally or business wise to the country you choose to bank in. So whether we want to accept it or not the options for opening accounts for companies outside their country of domicile is shrinking. We will soon only be left with EMI's in 3-5 years.
I think sooner or later Russian and chines bank will handle the international business better than EU.
In the coming years every country will be forced to decide their geopolitical alliance. The three groups will be:
I think the BRICS banks will win somehow for international business with their own potentially non-SWIFT solution for international trade settlement. As the US trade war with China continues it only a matter of time before China is threatened with being locked out of SWIFT and access to US banks.
we will see, so far I doubt it will be any better. The rich and powerful people want to control the financial world!!
Russian, Chinese, Indian banking system is much more strict in rules and weak in banking stability.
Even if they do international transaction system for their own, who will use them if most of customers market will be in US/EU with sepa/swift?
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