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SATABANK someone tried

Discussion in 'Offshore Bank Accounts' started by David97255, Apr 16, 2018 at 14:26.

  1. David97255

    David97255 New Member

    Hi,

    Just applied for a personal account with SATABANK Malta. ( www.sata.bank )
    Wanted to know if someone got experience with them.
     
    diablo likes this.
  2. Martin Everson

    Martin Everson Active Member Mentor Group Sponsor Entrepreneur

    Used them for two years with no complaints. Not put any substantial funds with them just a couple of thousand here and there. Very straight forward bank so far.
     
  3. diablo

    diablo Trusted Member Mentor Group Sponsor Business Angel

    If you get your account please let us know. I'm interested :)
     
  4. Admin

    Admin Forum Moderator The Forum Cleaner

    I just applied to test them, sounds like a good solution and alternative.
     
  5. David97255

    David97255 New Member

    Let s see how much take their compliance take and if they accept at all.
     
  6. Martin Everson

    Martin Everson Active Member Mentor Group Sponsor Entrepreneur

    Just remember sata bank accounts are e-money accounts and hence you have no EU (100k euro) deposit insurance. Sata account are no different than an EMI account. Also sata is considered in Malta an international bank i.e it is no importance to Malta if anything happens to it. Just don't keep more than you are willing to lose. This bank will NOT be bailed out if anything goes wrong.
     
    auric likes this.
  7. auric

    auric Offshore Agent Mentor Group Sponsor Business Angel

    Do they accept crypto currency business ?
     
  8. Martin Everson

    Martin Everson Active Member Mentor Group Sponsor Entrepreneur

    No crypto business and no gray business im afraid. They are very strict and more so than Leupay.

    btw there real time euro wires is excellent. Sending a euro sepa payment to a sata account and seeing it arrive and credited in 3 seconds beats is very nice.

    However if you want EU deposit insurance and a bank in Malta try Ferratum Bank. 8 minutes to open an account online - but not all countries accepted :-(

    Open a Free European Bank Account | Ferratum Bank
     
  9. bountymounty

    bountymounty Active Member Mentor Group Sponsor Entrepreneur

    wow not bad.

    are they as good as satabank also with the fast transfers?
     
  10. Martin Everson

    Martin Everson Active Member Mentor Group Sponsor Entrepreneur

    Never used Ferratum bank personally. DO NOT keep more than 100k Euro there if you do!!!! They are a lender of small unsecured consumer loans. They take your cash and lend it to some bum while offering you an attractive fixed deposit rate for the high risk you undertake.

    However, EU deposit protection (100k) means you can largely ignore risky business model if you have less than 100k to deposit and need an easy account opening.

    btw as a Malta bank it does not offer banking services to Malta residents.