Relayfi discrimination by nationality

[yngmind]

Relay accepts U.S. entities with owners holding non-U.S. citizenship as well as being based outside of the U.S. Relay requires the entity to have an operating presence in the U.S.

We do not provide bank accounts for residents of U.S. sanctioned countries and a few others listed below.

Countries not Supported:​

• Afghanistan
• Albania
• Barbados
• Belarus
• Bosnia And Herzegovina
• Burkina Faso
• Burma (Myanmar)
• Burundi
• Cambodia
• Cayman Islands
• Central African Republic
• Congo, Republic of the (Congo-Brazzaville)
• Congo, Democratic Republic of the (Congo-Kinshasa)
• Cote D'Ivoire (Ivory Coast)
• Cuba
• Cyprus
• Eritrea
• Ethiopia
• Gibraltar
• Guinea
• Guinea-Bissau
• Haiti
• Hong Kong
• Iran
• Iraq
• Jamaica
• Jordan
• Lebanon
• Liberia
• Libya
• Macao
• Madagascar
• Mali
• Malta
• Morocco
• Mozambique
• Nicaragua
• Nigeria
• North Korea
• Pakistan
• Panama
• Philippines
• Russia
• Senegal
• Sierra Leone
• Somalia
• South Sudan
• Sri Lanka
• Sudan
• Syria
• Turkey
• Uganda
• Ukraine
• United Arab Emirates
• Venezuela
• Vietnam
• Yemen
• Zimbabwe

Like WTF, if you have Malta or Cyprus or UAE, Hong Kong, Russia, or Ukraine citizenship, you can't open an account with Relay?

They don't even have those nationalities on the list. Even if they live in another country, they still can't apply.

It's a modern-day discrimination

 

[latindev]

Don't get me wrong but... I as a private entity should be able to work with whoever the f**k I want. That's not discrimination, it's freedom

 

[ivan1911]

Relay is the worse neo bank I ever used. Just terrible .

 

[scooterguy]

Doesn't say anything about citizenship. The restriction is by residency.

 

[Alexmorgan]

Albania, Ethiopia , Malta , Jordan, Barbados and Mororco are not sanctioned by US and not listed as risky countries

So why this bank is trying to ban almost 90% of the world???


If its new regulation from government of US on these banks then its a matter of time before Mercury follow it 2

 

[JohnLocke]

Don't get me wrong but... I as a private entity should be able to work with whoever the f**k I want. That's not discrimination, it's freedom

This is quite appropriate.

 

[Sols]

Albania, Ethiopia , Malta , Jordan, Barbados and Mororco are not sanctioned by US and not listed as risky countries

Check each country on Country Reports – KnowYourCountry and it'll give you a glimpse into why banks might not accept customers from those countries.

Considering the risks posed by those countries relative to how few customers (good customers) they have or expect to be able to get, Relay has probably decided that these countries aren't worth it.

 

[yngmind]

Check each country on Country Reports – KnowYourCountry and it'll give you a glimpse into why banks might not accept customers from those countries.

Considering the risks posed by those countries relative to how few customers (good customers) they have or expect to be able to get, Relay has probably decided that these countries aren't worth it.

The real clowns invented those blacklists and sanctions.

Pay 50% tax = no blacklist
Pay close to 0% = offshore financial center.

Those European clowns are just jealous.
The same French people hate people from Monaco.

Your face when you paid 50% in taxes.

 

[jafo]

Relay accepts U.S. entities with owners holding non-U.S. citizenship as well as being based outside of the U.S. Relay requires the entity to have an operating presence in the U.S.

We do not provide bank accounts for residents of U.S. sanctioned countries and a few others listed below.

Countries not Supported:​

• Afghanistan
• Albania
• Barbados
• Belarus
• Bosnia And Herzegovina
• Burkina Faso
• Burma (Myanmar)
• Burundi
• Cambodia
• Cayman Islands
• Central African Republic
• Congo, Republic of the (Congo-Brazzaville)
• Congo, Democratic Republic of the (Congo-Kinshasa)
• Cote D'Ivoire (Ivory Coast)
• Cuba
• Cyprus
• Eritrea
• Ethiopia
• Gibraltar
• Guinea
• Guinea-Bissau
• Haiti
• Hong Kong
• Iran
• Iraq
• Jamaica
• Jordan
• Lebanon
• Liberia
• Libya
• Macao
• Madagascar
• Mali
• Malta
• Morocco
• Mozambique
• Nicaragua
• Nigeria
• North Korea
• Pakistan
• Panama
• Philippines
• Russia
• Senegal
• Sierra Leone
• Somalia
• South Sudan
• Sri Lanka
• Sudan
• Syria
• Turkey
• Uganda
• Ukraine
• United Arab Emirates
• Venezuela
• Vietnam
• Yemen
• Zimbabwe

Like WTF, if you have Malta or Cyprus or UAE, Hong Kong, Russia, or Ukraine citizenship, you can't open an account with Relay?

They don't even have those nationalities on the list. Even if they live in another country, they still can't apply.

It's a modern-day discrimination

I wonder how the employees and shareholders of RelayFI would feel if they or their loved ones traveled to these countries and were denied essential (hotels, restaurants) & emergency services (medical, hospital, pharmacies, ambulances & dental) based on their affiliations with RelayFI!

PS. There is a movement in many countries doing exactly this to companies who abuse their "freedom".

 

[scooterguy]

Let's be honest guys, no one wants to live or even take a vacation to 95% of the countries in that list.

The guy from Sierra Leone who opened a US corporation is probably living in Europe or Thailand already and thus will have no problems opening the account.

 

[yngmind]

Let's be honest guys, no one wants to live or even take a vacation to 95% of the countries in that list.

The guy from Sierra Leone who opened a US corporation is probably living in Europe or Thailand already and thus will have no problems opening the account.

There are lots of nice countries in the list.

But the problem is, they decline based on citizenship, not residency!

Imagine a guy living in us or in eu with the passport of thoose countries.

 

[jafo]

Let's be honest guys, no one wants to live or even take a vacation to 95% of the countries in that list.

The guy from Sierra Leone who opened a US corporation is probably living in Europe or Thailand already and thus will have no problems opening the account.

I have personally been to 32 of those countries and the people I dealt with there (in business) are better & more honorable people than every single person in my European genealogy, except my mom. I can only speak of me and my "family". I didn't choose them. I did, however, choose my friends. My friends are amazing people. #RealTalk #NoSugarCoating #NoFilters!

Also this:

 

[scooterguy]

I have personally been to 32 of those countries and the people I dealt with there (in business) are better & more honorable people than every single person in my European genealogy, except my mom. I can only speak of me and my "family". I didn't choose them. I did, however, choose my friends. My friends are amazing people. #RealTalk #NoSugarCoating #NoFilters!

Also this:

It's not about the people, it's about the countries themselves. Relay is not banning citizens from those countries, it's banning residents of those countries, which is a very important distinction.

There are lots of nice countries in the list.

But the problem is, they decline based on citizenship, not residency!

Imagine a guy living in us or in eu with the passport of thoose countries.

Proof that they decline based on citizenship?

Edit: Actually you're right, I just tried creating an account with one of those citizenships and the option is not on the list

I guess that sucks but there are many other options for US business owners with those citizenships (though some of them like North Korea are probably a pain for most institutions).

 

[uplana]

Proof that they decline based on citizenship?

As has already been said here, it is their own decision. I don't understand how anyone can believe they are not allowed to do that!

 

[jafo]

As has already been said here, it is their own decision. I don't understand how anyone can believe they are not allowed to do that!

You are 100% correct! 100% their decision! They are FREE to do so! It's a "FREE" world!
*BUT* they also should keep in mind and later NOT complain that if they, their loved ones, or friends ever travel to one of those countries, even by cruise ship, and get deadly ill or need other emergency services, the SAME applies to the citizens/residents of those countries who refuse to treat them:

As has already been said here, it is their own decision. I don't understand how anyone can believe they are not allowed to do that!

An Eye for an Eye!

#RealTalk #NoSugarCoating #NoFilters!

It's not about the people, it's about the countries themselves. Relay is not banning citizens from those countries, it's banning residents of those countries, which is a very important distinction.

Edit: Actually you're right, I just tried creating an account with one of those citizenships and the option is not on the list

*BUT* they also should keep in mind and later NOT complain that if they, their loved ones, or friends ever travel to one of those countries, even by cruise ship, and get deadly ill or need other emergency services, the SAME applies to the citizens/residents of those countries who refuse to treat them.

PS. I've personally witnessed this for decades in awe. As I mentioned before, I was born in a colonized European country (100% European parents). We made very quick money in a Latin American country that was the richest in all of Latin America. Oil-rich! I was only following my father and uncle in their trading business. A lot of great things happened in that country and most of that money moved to Brickell in Miami, Fl. USA and then got foreclosed and repossessed by the host country.
Same with another Latin American gem after that! It was 1-to-1 with the dollar and I sold them so much hospital medical equipment and those days they played ball with cash and offshore havens. No internet and nobody spilling the beans. Their money just got massively devaluated after an "intervention" and required IMF's "funds"
Ad infinitum...

My mainland European cousins are completely unaware of ANY of this, despite my explaining it to them for decades. I don't know if they have low IQ (most probably...runs in the family ) or they have been so well indoctrinated that they can't see the forest for the trees.
Reminds me of the inhabitants of Liberty City, Overtown, etc in Miami. Notwithstanding living in Section 8 areas under squalid conditions
Section 8. The City's Section 8 program is not accepting new applications. We will post to this page with any updates.
these residents boast about living in the greatest & richest country on Earth. Some go without a meal for days. Many are without their meds for months, yet they look down on e.g. Norway, because of "socialism" or whatever the disparaging "Le mot du jour" is.


Oh well...rant over

 

[Forester]

Just two tiny remarks...

Relay accepts U.S. entities with owners holding non-U.S. citizenship as well as being based outside of the U.S. Relay requires the entity to have an operating presence in the U.S.

We do not provide bank accounts for residents of U.S. sanctioned countries and a few others listed below.

Countries not Supported:​

• Afghanistan
• Albania
• Barbados
• Belarus
• Bosnia And Herzegovina
• Burkina Faso
• Burma (Myanmar)
• Burundi
• Cambodia
• Cayman Islands
• Central African Republic
• Congo, Republic of the (Congo-Brazzaville)
• Congo, Democratic Republic of the (Congo-Kinshasa)
• Cote D'Ivoire (Ivory Coast)
• Cuba
• Cyprus
• Eritrea
• Ethiopia
• Gibraltar
• Guinea
• Guinea-Bissau
• Haiti
• Hong Kong
• Iran
• Iraq
• Jamaica
• Jordan
• Lebanon
• Liberia
• Libya
• Macao
• Madagascar
• Mali
• Malta
• Morocco
• Mozambique
• Nicaragua
• Nigeria
• North Korea
• Pakistan
• Panama
• Philippines
• Russia
• Senegal
• Sierra Leone
• Somalia
• South Sudan
• Sri Lanka
• Sudan
• Syria
• Turkey
• Uganda
• Ukraine
• United Arab Emirates
• Venezuela
• Vietnam
• Yemen
• Zimbabwe

Like WTF, if you have Malta or Cyprus or UAE, Hong Kong, Russia, or Ukraine citizenship, you can't open an account with Relay?

They don't even have those nationalities on the list. Even if they live in another country, they still can't apply.

It's a modern-day discrimination

Don't get me wrong but... I as a private entity should be able to work with whoever the f**k I want. That's not discrimination, it's freedom

In my opinion, if this decision is made on their own will and sole discretion, then it is freedom (and it's perfectly OK). If the same decision is made under pressure of a government or generally The State, then it is discrimination (and it's a crime).
Frankly, I am afraid that the latter can be more close to the reality – but I have no proofs of it.

Check each country on Country Reports – KnowYourCountry and it'll give you a glimpse into why banks might not accept customers from those countries.

Considering the risks posed by those countries relative to how few customers (good customers) they have or expect to be able to get, Relay has probably decided that these countries aren't worth it.

Well,
1) I agree that some/many(?) of these countries are problematic (but not all – or, if all, then the list should be much much longer);
2) having said that, I must say that I am not sure whether e.g. the conclusions of FATF are always objective, unbiased and free of a pressure of some influential lobby.

 

[latindev]

In my opinion, if this decision is made on their own will and sole discretion, then it is freedom (and it's perfectly OK). If the same decision is made under pressure of a government or generally The State, then it is discrimination (and it's a crime).

I could agree but they are not allowing Cyprus, Malta, Gibraltar, Cayman Islands and Panama... none of those are blacked out by the US but they know supporting most of the countries in that list is just a pain in the a*s so better to just avoid them. Many small financial institution knows is not worth supporting them so its their freedom to avoid them

 

[Forester]

I could agree but they are not allowing Cyprus, Malta, Gibraltar, Cayman Islands and Panama...

IIRC (I have not checked), all these are (or not so long ago were) on the FATF greylist; Cayman Islands and Panama were even on the blacklist (not without foundation) some time ago.
But of course, I do not know why they really decided as they decided.

 

[Sols]

2) having said that, I must say that I am not sure whether e.g. the conclusions of FATF are always objective, unbiased and free of a pressure of some influential lobby.

Those lists aren't fair, equal, and all-encompassing. Most money laundering and tax evasion happen in US and UK, and you don't see either on those kinds of lists. However, the reality is that financial institutions around the world look at these lists and base decisions on them. So from a purely pragmatic perspective, one should consider what FATF and their ilk say.

 

[Forester]

2) having said that, I must say that I am not sure whether e.g. the conclusions of FATF are always objective, unbiased and free of a pressure of some influential lobby.

Those lists aren't fair, equal, and all-encompassing. Most money laundering and tax evasion happen in US and UK, and you don't see either on those kinds of lists. However, the reality is that financial institutions around the world look at these lists and base decisions on them. So from a purely pragmatic perspective, one should consider what FATF and their ilk say.

Yes, unfortunately...
(I guess you understood that my statement was intentionally in a very diplomatic – or old-fashioned British, if you like – style...)