Nodabank

[NativeLogos]

I got a cold email from Nodabank in Dominica and it looks like they have SWIFT and SEPA which is good but I haven't seen anything on OCT about them. Anyone have any experience with them?

 

[JohnLocke]

Sorry, what is a cold e-mail ?

 

[NativeLogos]

Sorry, what is a cold e-mail ?

It means they email business owners to pitch their product. Similar to cold calling but the email version.

Epico Finance has done so in the past as well and I found some chatter on here about it but haven't for Nodabank. Their solutions sounds up my alley for my clients' needs hence looking for info on them.

 

[Martin Everson]

"Our team will assess your business case and will get back to you as soon as possible with the price proposal"

Yup just keep walking and don't stop

 

[Sols]

Nodabank, more like say no to da bank.

I don't know anything about this bank except that it's in Dominica, which is enough of a red flag for me to run away. Can't remember seeing another jurisdiction with such poor oversight of its banks. Great place if you want to start a bank but lack both the competence and capital to start one in an actual financial center like US, UK, EU, HK, SG.

 

[Forester]

BTW, reputable banks usually do not send any cold e-mails to non-customers...

 

[NativeLogos]

BTW, reputable banks usually do not send any cold e-mails to non-customers...

Indeed, hence my initial suspicion.

And I wouldn't say all Dominica banks are bad. It's just that bad banks are more likely in Dominica due to the lax regulations as someone said. Given my unique needs, banks in jurisdictions like the US and EU will not accept my clients, so off-shore is essentially a must.

 

[JohnLocke]

A bank that spams people with emails they haven't requested is not a proper or serious bank.

 

[seamomar]

Got contacted by Linkedin and then had a call with a "senior" person from that bank. They are keen to grab any business and are more an EMI from a juridiction that is quite lax in reality. Accounts with them are effectively held in depository bank in Asia (Singapore) for USD and GBP and in Bulgaria for EUR. I have not dug more into this as I am not keen to pay €1,500 as compliance fees before having an account.
See attached the schedule of fees as presented to me on 16.05.2025

 

[MrGoodman]

It would be worth a try if not the monthly maintenance fee...

 

[linusAG]

Got contacted by Linkedin and then had a call with a "senior" person from that bank. They are keen to grab any business and are more an EMI from a juridiction that is quite lax in reality. Accounts with them are effectively held in depository bank in Asia (Singapore) for USD and GBP and in Bulgaria for EUR. I have not dug more into this as I am not keen to pay €1,500 as compliance fees before having an account.
See attached the schedule of fees as presented to me on 16.05.2025

Would you mind share their wire instruction/correspondent accounts?

 

[Martin Everson]

Does anyone know if nodabank.com is related to nodabank.ru or just a bad coincidence?

 

[ilke]

Does anyone know if nodabank.com is related to nodabank.ru or just a bad coincidence?

TBMK just a bad coincidence, nodabank.com is from brighty.app (Swiss SRO member and Lithuanian VASP).

I think the service is running on a BaaS on a BaaS (Brighty issues accounts through Breinrock but Breinrock has no access to payment rails, so it is in turn issuing through another BaaS).

Per transaction fees are very high especially for incoming funds and for conversions.

Nodabank.ru was actually quite a good firm for Russian standards (TBH have no idea about nowadays) but I doubt any correlation to this

 

[EliasIT]

Would any of you knowing the bank mind to use them if it is a last resource ?

 

[Martin Everson]

Would any of you knowing the bank mind to use them if it is a last resource ?

If my bloodied hand could reach out of my grave and tap a keyboard then yeah.