Relayfi discrimination by nationality

[cyprusbanker]

It will get much worse over the next few years, I am absolutely sure of that!

 

[Alexmorgan]

It will get much worse over the next few years, I am absolutely sure of that!

Its already started

So many getting rejected from this bank and Mercury as main US business EMIs and some real banks are bothering people from some nationalites from opening accounts for their business

 

[yngmind]

Its already started

So many getting rejected from this bank and Mercury as main US business EMIs and some real banks are bothering people from some nationalites from opening accounts for their business

Yeah, things got tough with the US EMI's. It's started with Wise, then Mercury.

Probably in the future, it's only will be possible to get EMI as a nonresident for EU/UK companies.

Later on it won't be possible to have an account with EMI if you have an offshore company, they would require a substance.

So, Cyprus or Malta would be a good option, just because you can create a substance there and pay the minimum amount of tax.

 

[Rome]

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.

Can you share more resources like this? Sounds like you have experience as a compliance officer

 

[Sols]

Can you share more resources like this? Sounds like you have experience as a compliance officer

All the major ones are linked or referenced on KnowYourCountry but there's a few more such as:

Basel AML Index

The Basel AML Index is an independent country ranking and risk assessment tool for money laundering and terrorist financing (ML/TF).

index.baselgovernance.org

Financial Secrecy Index – Tax Justice Network

fsi.taxjustice.net

 

[Dictator]

Your face when you paid 50% in taxes.

It looks like a face after you've gone to a toilet. As if you threw 50% of your money and flushed into it.