Someone managed to open an account at bank Frick?

[PinkCat]

Kraken uses them so they must be decent and obviously crypto friendly. I've tried to apply twice in the recent years but they always deny without giving a reason. So has anyone managed to just open account with them without having been introduced?

 

[JohnnyDoe]

I have been rejected with no reason. Quite an unprofessional bunch of kids working there.

 

[Sols]

Yes, but it's very difficult. It doesn't help that they have a terrible attitude about it.

The 500,000 CHF minimum is in reality closer to 1 million CHF, and they really perk up if you give them 5+.

 

[PinkCat]

@WorldCitizen99 your message has been caught in the mess related to restoring the forum from back-up, so we got notifications for it posted but can't read it, please post again if it was valuable

 

[CyprusLaw]

We have a very good relationship with Bank Frick and have actually assisted clients opening accounts on multiple occasions. The minimum deposit requirement can be avoided as well. The average time for opening an account is definitely quite high, but they open it at the end. Happy to discuss with anyone considering Frick

 

[Fred]

We have a very good relationship with Bank Frick and have actually assisted clients opening accounts on multiple occasions. The minimum deposit requirement can be avoided as well. The average time for opening an account is definitely quite high, but they open it at the end. Happy to discuss with anyone considering Frick

I confirm this - it's all about the intro to them.

Ongoing KYC / Transfer Monitoring is for sure higher compared to US based Banks in the Crypto Space nowadays like Customers Bank.

Hint: Kraken OTC Desk can make the intro which requires certain volume but is almost a guarantee for account opening.

They even did start handing out there IBAN's to selected EMI's / OTC Desks for direct settlement.

 

[WorldCitizen99]

@WorldCitizen99 your message has been caught in the mess related to restoring the forum from back-up, so we got notifications for it posted but can't read it, please post again if it was valuable

Hmm interesting
I was just saying that when I applied I got rejected without reason so I asked them why they rejected me and they replied that they have an automated system that reviews the onboarding answers and in my case, it was probably bc I said I would only make an initial deposit of $100,000. The rep then explained that they did not do retail banking but they did do private banking and that the initial deposit req's was more in the ballpark of 500k-1M Euros.

 

[PinkCat]

I confirm this - it's all about the intro to them.

Ongoing KYC / Transfer Monitoring is for sure higher compared to US based Banks in the Crypto Space nowadays like Customers Bank.

Hint: Kraken OTC Desk can make the intro which requires certain volume but is almost a guarantee for account opening.

They even did start handing out there IBAN's to selected EMI's / OTC Desks for direct settlement.

I messaged Kraken support asking if they would make an intro but they denied. How do you contact the OTC desk specifically to make an intro?

 

[bisk]

I messaged Kraken support asking if they would make an intro but they denied. How do you contact the OTC desk specifically to make an intro?

How much have you offered for OTC exchange?