Paysend CRS?

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ricsmond

New member
Hi,
I just registered this forum, and searched a lot but I haven't found information about Paysend so far.
For those who don't know the platform, it's a money transfer option where you can send money to and from a phone number.
But I don't use it that way. It is possible to get money to a credit card that they provide.
I have an anonymous paypal account which I have attached this paysend card. Money can be sent to the card directly for 1% tax, it will arrive within 10 minutes.
And i can start spending. On the paysend page, I don’t see any reference to the CRS report. I asked them in live chat, I attach the answer.
Once again, we do not receive an IBAN account. Only one spending history is shown in the app. We can use EUR,GBP,USD too.
Work like a charm for me...
What do you think about this Paysend? I want to be anonym of course thats the important.

Sincerely Rich
 

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diatessaron

Silver Member
Quick tip, Paypal will automatically send money to your card at the end of the month for free. Paysend is based in UK and UK adopted CRS in 2016 or 2017. I would assume Paysend falls under CRS too.
 

Sols

Staff member
Mentor Group Gold
A financial institution is not required to tell you what and whether they reported under CRS. Front line support usually has no idea about these things anyway. Most terms and conditions include a clause about legally permitted or legally required disclosure which is a catch-all that can include information upon request and automatic exchange of information.

Asking about CRS is a fantastic idea if you want to get your account flagged for suspicion of tax evasion.

IIRC, Paysend is operating under a combination of Spanish, Irish, and UK licenses so any one of those could end up reporting you.
 

ricsmond

New member
A financial institution is not required to tell you what and whether they reported under CRS. Front line support usually has no idea about these things anyway. Most terms and conditions include a clause about legally permitted or legally required disclosure which is a catch-all that can include information upon request and automatic exchange of information.

Asking about CRS is a fantastic idea if you want to get your account flagged for suspicion of tax evasion.

IIRC, Paysend is operating under a combination of Spanish, Irish, and UK licenses so any one of those could end up reporting you.
My question was via in website. Not in the app,and using another ip.
 

tacokai

Mentor Group Gold
Quick tip, Paypal will automatically send money to your card at the end of the month for free. Paysend is based in UK and UK adopted CRS in 2016 or 2017. I would assume Paysend falls under CRS too.
that's very sad but true. It's a no go. As you said your paypal is anonymous but paysend account is verified with your personal details.
 
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