Prominence Bank Comoro Island

[GuevaraGoldberg]

@

Were did you see that? No one is going to pay that amount for an account opening I hope

Here are the fees they published: prominence Bank Basic Fees
and also here

 

[romain]

It's a blacklisted jurisdiction with most banks and payment processors. Worse than Marshall Islands. Don't waste your time.

How well you informed about this jurisdiction? Is it technically possible to incorporate a bank there? Get SWIFT connected for this bank? So far it looks like all the banks from Anjouan were disconnected from SWIFT.

 

[FinTech Avenger]

How well you informed about this jurisdiction? Is it technically possible to incorporate a bank there? Get SWIFT connected for this bank? So far it looks like all the banks from Anjouan were disconnected from SWIFT.

Well, I consider myself informed enough about that "jurisdiction".

It is technically possible to get set of shady banking license bundle from variety of offshore services providers, however, you'd never be sure whether anything was lodged at Anjouan rebel's so called regulatory authority, as there are at least 3 sites posing as being ran by such authority with different lists of banking charters.

Next, as it was already mentioned in this topic, you should note that Anjouan is a separatist region within the union of Comoros. Central Bank of Comoros doesn't recognise "licenses" issued by whatever Anjouan authority.

Therefore, it is not possible to get live SWIFT connection, as SWIFT would refer to the list of valid banking charters published by the Central Bank of Comoros. Most "banks" there only have corporate SWIFT code which is not live and can be obtained through SWIFT partners, some of which are happy to assist any scam (maybe someone here remember Gambian banks?) to get one, as it doesn't allow any sort of real financial messaging.

Summing up, stay away from anything related to Comoros banking.

 

[romain]

Well, I consider myself informed enough about that "jurisdiction".

It is technically possible to get set of shady banking license bundle from variety of offshore services providers, however, you'd never be sure whether anything was lodged at Anjouan rebel's so called regulatory authority, as there are at least 3 sites posing as being ran by such authority with different lists of banking charters.

Next, as it was already mentioned in this topic, you should note that Anjouan is a separatist region within the union of Comoros. Central Bank of Comoros doesn't recognise "licenses" issued by whatever Anjouan authority.

Therefore, it is not possible to get live SWIFT connection, as SWIFT would refer to the list of valid banking charters published by the Central Bank of Comoros. Most "banks" there only have corporate SWIFT code which is not live and can be obtained through SWIFT partners, some of which are happy to assist any scam (maybe someone here remember Gambian banks?) to get one, as it doesn't allow any sort of real financial messaging.

Summing up, stay away from anything related to Comoros banking.

Thanks for the prompt reply! I've talked to Moheli Corp. Service and they confirmed that SWIFT won't integrate any bank there at the moment. How do they work at all? Paying some third-party bank to accept/transfer payments on behalf of them?

What about alternatives to SWIFT? China is working on one, maybe there are other options available as well.

 

[Davis123]

comorros passport h

for those not familiar: comoros had a citizenship by investment scheme . It was very easy by today' s standards and strange as passports were issued in Dubai . Program was denounced as forgery from the new goverment in comoros 3-4 years ago. These passports were issued for 5 years and are not extended by the authorities . One way or the other they had litlle value as travel documents because of limited visa free agreements. If your passport is still valid at the most for one year and you want to get detained or arrested, just try to use the comoros "passport "

I don't think that's correct info. Comoros had this program a few rears ago basically to give some UAE born but but not accepted as UAE citizens were mostly given this passport initially and then it was open for anyone with the money

 

[Sols]

Thanks for the prompt reply! I've talked to Moheli Corp. Service and they confirmed that SWIFT won't integrate any bank there at the moment. How do they work at all? Paying some third-party bank to accept/transfer payments on behalf of them?

I can't speak for any specific bank but that's exactly how it works. If you can't get access to SWIFT, you need to find someone who's willing to offer correspondence (nostro/vostro account) services to you outside of SWIFT. This third-party doesn't have to be a bank. It can be an e-money institution, payment institution, or other non-bank financial service provider which in turn relies on a bank.

What about alternatives to SWIFT? China is working on one, maybe there are other options available as well.

Alternatives are useless until banks actually start using it. Domestic messaging services already exist separate from SWIFT but it gets tricky when you want to cross borders.

 

[romain]

I can't speak for any specific bank but that's exactly how it works. If you can't get access to SWIFT, you need to find someone who's willing to offer correspondence (nostro/vostro account) services to you outside of SWIFT. This third-party doesn't have to be a bank. It can be an e-money institution, payment institution, or other non-bank financial service provider which in turn relies on a bank.

Alternatives are useless until banks actually start using it. Domestic messaging services already exist separate from SWIFT but it gets tricky when you want to cross borders.

Exactly, a particular bank should agree to use this alternative and have some software to support it. Regarding to SWIFT, it's a messaging protocol to assist banks with international payments routing, not actual mean to transfer money?

What is the best source to better understand how SWIFT messaging system work in details? How money actually being transfer once a sender got an instruction that contains a chain of intermediate banks which lead him to the recipient? I'd better read it somewhere and leave my findings here, don't want to waste time of the forum's members with my naive questions, also don't want to post off-topic in this thread as well.

 

[GlobalConsult]

Before I spend 25k on opening an account, I fly there for 2-3k to check the bank on site.

That being said, a Comoros bank can be set up for little investment.

 

[rey skywalker]

hi i had account in credit foncier nothing much 10k but i could not complain, but 25 k for account opening is crazy

 

[sonato]

hi i had account in credit foncier nothing much 10k but i could not complain, but 25 k for account opening is crazy

wait are these fees for opening a simple bank account there....noooo...or ?

 

[csp dubai]

any body understand wich bank they use for deposit ?
it will be very interesting to know , if they correspondent account i means they exist

 

[Sir Gelato]

any body understand wich bank they use for deposit ?
it will be very interesting to know , if they correspondent account i means they exist

They are fake, it is a fake bank

Good evening, by any chance did you go to the bank or did you open an account with them?
I'm interested

It's a fake bank

 

[lory]

Thank you for letting us know. The opening fees are insane, some may be really desperate if he pays so much money in the believing he get an account opened.

 

[csp dubai]

still if they a correspondent bank account, it means they can receive funds , than it means they are not fake am i correct?

 

[mrau]

still if they a correspondent bank account, it means they can receive funds , than it means they are not fake am i correct?

Has anyone ever paid the NON-REFUNDABLE USD/EUR 25.000 account opening fee to find out if they actually have a correspondent bank or not?

 

[myshufflemix]

It's a blacklisted jurisdiction with most banks and payment processors. Worse than Marshall Islands. Don't waste your time.

do you say it is not worse to use a service provider in the payment industry if they are located there, all scam?

Has anyone ever paid the NON-REFUNDABLE USD/EUR 25.000 account opening fee to find out if they actually have a correspondent bank or not?

I hope this question will be negative and no one has paid so much money

 

[Sols]

do you say it is not worse to use a service provider in the payment industry if they are located there, all scam?

I'd make a distinction between useless and scam.

A scam is a criminal activity, which either delivers no services or only delivers them for a little bit before running away with your money.

Useless means it is for all intents and purposes not possible to actually operate an effective, meaningful business due to restrictions imposed by others (such as blacklisting a jurisdiction).

 

[csp dubai]

so anyone has paid 25000? i thinsk is crazy fee as soon as you not have a russsian passport

 

[cuno]

wow - that's me when I saw this thread