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Need a bank that will bridge wire transfers between banks

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eiffel

New member
I need help finding a bank that's willing to "bridge" wire transfers, by which I mean receiving $X money and then wiring that same $X to another bank account. My money is legit and I'm not running away from the tax man, so I'm fine with CRS. I don't use corporate vehicles, I have the accounts in my name. I'm not a US resident or citizen (and not European either). I have docs to back up the source of funds. I prefer banks in strong jurisdictions.

I have an account at EPB, and while they at first run a few such bridge transactions, they eventually decided not to allow me to bridge any more. Right now I use a Panamanian bank for bridge wires, but the service has been poor for years, and I would like to find an alternative. Another Panamanian bank that I use has already said they won't do bridge wires.

Here's why I need bridge wires: I use a precious metals holding service that only allows me to link it to one bank account of mine. Because I have more than one bank, when I want to transfer money out of the precious metals company to my account at bank X, the PM company sends the wire to my linked bank account, and then that bank needs to wire that same money to my account at bank X. The problem is, most banks don't want to bridge; they say it's a pain in the ass for their compliance department. This particular PM company is superb in every other respect, so taking my metals somewhere else is simply not an option.
 

eiffel

New member
Outlander, there's no card. It's also not a "PM bank account". It's a company that allows clients like me to trade and store physical precious metals. When I want to withdraw a cash balance, they make a wire transfer from their bank account to my linked bank account, and from here is that I want it to go to a different bank of mine.
 

Outlander

Silver Member
Outlander, there's no card. It's also not a "PM bank account". It's a company that allows clients like me to trade and store physical precious metals. When I want to withdraw a cash balance, they make a wire transfer from their bank account to my linked bank account, and from here is that I want it to go to a different bank of mine.

My question persists. By "PM Bank account" I meant the account you receive the funds from your PM trading. No card there also?
 

eiffel

New member
Sorry, I had misunderstood your question. But the answer is also no, I don't have a card in the bank that I currently use to bridge wire transfer. I could get one, but it wouldn't help. I don't want the money loaded onto a credit card. I want it transferred to another bank, for example, to buy stocks in that other bank's investment account. So a card won't help, I want a new bank that's willing to bridge wire transfers.
 

Admin

Forum Moderator
Staff member
Elite Member
Depending on the amount you swap I would contact a few Swiss banks and travel there to open an account when possible! If your local bank don't want to open an account for you then I would try different banks around your area to see if they are willing to open it.

How much volume are you pushing per month?
 

eiffel

New member
Thanks for the answer, Admin. I would consider travelling to Switzerland a last resort given the cost and hassle, but it's good to know that that's an option if my current bridge bank were to refuse to carry on with those transactions.
Going forward, I estimate that most years I would need to bridge wires for a total less than $200k per year.
As for banks in my country, I prefer to leave my local bank out of it. Wires are expensive in this bank, there's a lot of red tape and more problems. I use it for my local expenses and that's it.
 
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