Paysera and CRS Compliance

[offshoreforever]

Hello everybody. I write because I have the following query.

I have an account at Paysera Wallet, an EMI from Lithuania. My question is whether this entity complies with the CRS treaty. I asked and from support they replied that they do not report at all. That although customer data is available to the Lithuanian central bank and information is usually shared between member countries of the European Union, on their part the intention is not to inform.

I know that Lithuania is a CRS country. A traditional bank would surely inform the treasury of my country (I do not reside in the European Union), but in the case of Paysera I am not sure. I also know that other similar entities such as PayPal, Skrill, Neteller, Payoneer and TransferWise, do not report. Perhaps in the case of Paysera it is the same.

For example, TransferWise is from England. That country is CRS Compliance, however it does not make the annual reports for the treasury as a classic bank would. I believe that the case of Paysera may be similar, but just in case I wanted to ask in this forum.

 

[12345]

Hi
I know that paysera is widely spread among shady guys dealing with mlm, hyip etc
So I would assume it does not report but waiting to find out from other users too

 

[offshoreforever]

Hi
I know that paysera is widely spread among shady guys dealing with mlm, hyip etc
So I would assume it does not report but waiting to find out from other users too

I did not know about this. Thanks for telling me.

If that's how you say it, then I can hope that they don't actually report.

Of course, I will wait for other Paysera users to see what they tell me. But what you tell me is already a sign.

 

[Marie Manila]

At least Paysera doesn't ask for TIN.
This could be a sign, that they do not report. But they can also report without TIN. So, no guarantee on that.
By the way, does anybody know, if Paysera is crypto friendly?

 

[offshoreforever]

At least Paysera doesn't ask for TIN.
This could be a sign, that they do not report. But they can also report without TIN. So, no guarantee on that.
By the way, does anybody know, if Paysera is crypto friendly?

That's a good point. They do not ask me for my tax identification number, but they could still inform.

Paysera is not crypto friendly, unfortunately.

 

[JohnLocke]

I know that paysera is widely spread among shady guys dealing with mlm, hyip etc

yet they tighten accepted business and refuse simply legal business activity. Tried to apply and they refused LoL

In regards to CRS and Paysera, I believe they will report if they get forced to it until then they won't.

 

[MurrayRothbard]

Just try to avoid Paysera if you want to avoid problems.

BTW, name + birth date is the same as asking about TIN.

 

[offshoreforever]

Just try to avoid Paysera if you want to avoid problems.

BTW, name + birth date is the same as asking about TIN.

Why do you say I would have problems?

 

[MurrayRothbard]

Why do you say I would have problems?

Same problems as with most EMIs, account freezing, blocking, asking for a lot of documents, etc.

 

[romalo]

Quote from Stripe support chat "tax" department about CRS.

"I can assure you 100% that Stripe does not report your account balance to the Ireland government any time of the year."

Transferwise:
https://wise.com/help/articles/2932394/how-does-tax-work-with-my-wise-account
So this topic is really open and actual guys. Reasonable chance Stripe does NOT report.

With Stripe you can make your own invoices. They allow me to send invoices on Panama company Name, but the Stripe account is registered on Netherlands,( my other company).
I have all this approval black on white in an email from them....That they don't care.

Also I have paid out to random bank accounts. They don't care to where I pay out.

Account got 2 times checked and all was okay. I still think one day they will make drama, but they approved that it was allowed, so...