Quick question for the pro's

[RSGM]

Hi all,

I was wondering, what is the easiest way to found out if a bank or EMI is keeping to the CRS agreement?
Is Advcash, Payeer, Payoneer tied to this agreement?

Regards,
RSGM

 

[Sols]

Unless you or someone you know and trust works at the EMI in question or at the competent supervising authority, there is really no way to know for sure other than trying it out and seeing what happens.

As an outsider, the best you can do is ask the financial institution.

Generally speaking, banks are complying and EMIs should be complying but some still (supposedly) aren't.

 

[RSGM]

Unless you or someone you know and trust works at the EMI in question or at the competent supervising authority, there is really no way to know for sure other than trying it out and seeing what happens.

As an outsider, the best you can do is ask the financial institution.

Generally speaking, banks are complying and EMIs should be complying but some still (supposedly) aren't.

Thanks for the information, although there are some countries that don't follow and keep to this agreement, yes? The USA being one of these countries

 

[ikan]

From my point of vue : it's very hazardous to question you Bank or Emi and rely their anwswers.

As a country, USA follow it and is one of these countries •••••••• but are the Banks of that country do it ?

Guess if you are banking in USA with local branch of EU banks (Ing, Bnp, Barclays or anyother).
They use same banking softawares and plugs in both side of the Atlantic.
Your personal banker in USA of that EU branch may not even know about CRS plug in is installed and reporting ?

To prevent : bank with 100% USA bank. And do the same for anyother country.
Don't trust the so called flag : Non CRS juridiction - take precautions.

For EMI : I will not trust the answer of front desk Customer Service !