Looking for a crypto-friendly bank for daily business

[Paper Chaser]

I'm running a P2P exchange service on some well-known crypto-exchanging platforms. My most accepted currencies are Amazon gift cards by now. More gift cards like Steam, iTunes, Google Play etc. will be accepted in near future.

So basically what I do daily is buying BTC worth around 3 up to 10k (depending on the daily trading volume) which I then will exchange to gift cards which I can use in different ways, i.e. ordering electronics and reselling them.

I have yet to found a bank, may it be regular (which I've heard can't be used anywhere in the world for such matter) or EMI, which could actually handle such large crypto-related transactions.

Like I said, outgoing transactions will only be to buy cryptos and incoming transactions will only be from third party users who pay for the stuff I sell (i.e. electronics).

Any suggestions for or even experiences in that kind of matter?

 

[Saho]

I'm currently using N26 to buy BTC daily and there have been absolutely no problems. Volume is about 2k daily.

 

[reesek]

whats your citizenship?

 

[Paper Chaser]

I'm currently using N26 to buy BTC daily and there have been absolutely no problems. Volume is about 2k daily.

Like every single day? Using a business account? I've heard there are alot, like really alot of guys who had been banned from N26 due to crypto-related transactions.

whats your citizenship?

German; moving to Malta next year. So if that matters any... Does it anyways?

 

[Saho]

Like every single day? Using a business account? I've heard there are alot, like really alot of guys who had been banned from N26 due to crypto-related transactions.


German; moving to Malta next year. So if that matters any... Does it anyways?

Yes, pretty much every single day. N26 doesn't have real business accounts. I've got some friends that use N26 too for crypto-related transactions and there have been no issues so far. Although I'm the only that does it pretty much daily with such amounts. Also I used quite a few different exchangers and everything went smooth. They just asked for a proof of income after having received a total of about 13k€.

If you find some other crypto-friendly bank, you can tell me. I'm a German resident too!

And by the way, if N26 closes your bank account, then you can just proceed normally for about 2 weeks. There's not a lot to lose.

 

[CaptK]

Wirex, have been good to me.

 

[Paper Chaser]

Any other suggestions?

If you browse through the internet you will find many people complaining about N26, Fidor, Revolut etc. It seems like they randomly suspend accounts related to crypto transactions. Since I have a huge daily traffic I cannot risk a suspension.

 

[CaptK]

Like every single day? Using a business account? I've heard there are alot, like really alot of guys who had been banned from N26 due to crypto-related transactions.


German; moving to Malta next year. So if that matters any... Does it anyways?

Be careful with the tax law in Germany it's not easy as they want you to sever all ties completely to gain tax exemption. You can't have any German Bill's, membership, property or business. Your immediate family ie wife and children can not live in Germany.

Wirex are your best bet, large deposits in and out daily and crypto friendly, you can even trade crypto on your account.

 

[JohnLocke]

Any other suggestions?

If you browse through the internet you will find many people complaining about N26, Fidor, Revolut etc. It seems like they randomly suspend accounts related to crypto transactions. Since I have a huge daily traffic I cannot risk a suspension.

You will see this with almost any service provider so the more reliable ones. You must understand that most that complain about a reputable service have most often played funny games with this provider but they don't tell about it in the public. Once they get caught by say Revolut, Fidor or N26 or Transferwise for that sake, they plays the role of victim.

Kraken has by the way been good for me to buy and sell crypto all the time and withdraw to the local bank.

 

[reesek]

what are the fees there to accept payments in euro invoices?

 

[Luganese]

You can issua manually a invoice to the customer and he can pay the amount.

Thats what we are doing with some customers. Pay invoices when they send crypto