Swissmoney

[z00m]

I saw a Youtuber advertise Digital-first banking solution. When you're crypto bags are too heavy this seems to be an easy way to off ramp into fiat.

You can buy crypto like at an exchange but at the same time you have an IBAN account where you can pay rent. You also get a multi currency credit card. It is regulated in Switzerland. Business and private accounts are available.

They specifically mention on their site, that business accounts for crypto businesses are welcome.

swissmoney is open to a large variety of businesses, unlike traditional service providers. To mention some of the niches, your business can range from cryptocurrency mining and other crypto currency operations, the commerce of the arts, luxury items (cars, boats, and planes), antiques, legal services, financial services, and much more. To learn more about acceptable businesses, please contact our dedicated support team.

I find the idea of an all in one product quite appealing without all the hassle and transaction fees. Not sure if the fees for buying / selling crypto is any good though. The Youtuber also said, it's not too hard to get approved for 6 figure off ramps. I read in a forum to open an account, fees range between 100€ to 500€, depending on the risk assessment.

Does anyone have any experience with swissmoney? Is it any good?

 

[Sols]

I'm wary of anything that uses the word "Swiss" in its branding without being genuinely Swiss. By all accounts, this company is Swiss in name and incorporation only. It looks a lot like a Lithuanian company that for some reason went for Swiss SRO registration instead of getting an EMI license or setting up an EMI agent/distributor agreement. You can tell they aren't meaningfully Swiss because they aren't issuing cards through a Swiss bank but through a Lithuanian EMI. A Swiss company that issues cards would do so in partnership with Swissbankers, Viseca, or another Swiss bank.

That doesn't necessarily mean they are bad or unreliable. It's just a pattern I've seen before and had bad experiences with. Being Swiss is to a lot of people perceived as prestigious in financial services.

I look forward to reading other people's experiences. It's possible SwissMoney is fine.

I edited the title of this thread to be less promotional.

 

[JohnnyDoe]

I'm wary of anything that uses the word "Swiss" in its branding

Always beware of anything “Swiss”, no matter its dna. For example see what happened to a notorious “Suisse” bank
There is nothing cool in being Swiss.

 

[jafo]

I'm wary of anything that uses the word "Swiss" in its branding without being genuinely Swiss. By all accounts, this company is Swiss in name and incorporation only. It looks a lot like a Lithuanian company that for some reason went for Swiss SRO registration instead of getting an EMI license or setting up an EMI agent/distributor agreement. You can tell they aren't meaningfully Swiss because they aren't issuing cards through a Swiss bank but through a Lithuanian EMI. A Swiss company that issues cards would do so in partnership with Swissbankers, Viseca, or another Swiss bank.

That doesn't necessarily mean they are bad or unreliable. It's just a pattern I've seen before and had bad experiences with. Being Swiss is to a lot of people perceived as prestigious in financial services.

I look forward to reading other people's experiences. It's possible SwissMoney is fine.

I edited the title of this thread to be less promotional.

There are a lot of companies registered at this address: Metallstrasse 8 6300 Zug

I would proceed with extreme caution.

 

[Martin Everson]

Always beware of anything “Swiss”, no matter its dna. For example see what happened to a notorious “Suisse” bank
There is nothing cool in being Swiss.

lol....don't get me excited

 

[Forester]

@Sols, @Konstanz, @jafo : You performed a perfect and highly valuable investigative work. Thanks and hats off!

 

[z00m]

I can only agree with Forester. Thx @Sols @Konstanz @jafo

 

[csp dubai]

is just mud or we have any prove of it?
wich is their correspoding bank?

 

[JackAlabama]

is just mud or we have any prove of it?
wich is their correspoding bank?

seems serious. Just have a look at that super dooper youtuber who made ads for this. I bet he/she went quiet now after having sacked in some nice ad money. That surely adds enough another puzzle piece into the picture.

 

[IllIlllIII]

Just out of curiousity, e.g. how bad is Swissmoney against MisterTango/Bankera? As for me they look the same.

 

[wellington]

They've been bombarding me the past few days.

Don't think i'd ever opened an account with them previously.

 

[Clearsky Network]

Just out of curiousity, e.g. how bad is Swissmoney against MisterTango/Bankera? As for me they look the same.

I have only 2 clients using them, so far they only complained about the high fees, but they operate crypto exchanges so no wonder.

Bankera is the worst EMI in my opinion compliance wise, i doubt there can ever be anything worse... But yes they have great fees
Does anyone still use MisterTango?

 

[IllIlllIII]

I have only 2 clients using them, so far they only complained about the high fees, but they operate crypto exchanges so no wonder.

Bankera is the worst EMI in my opinion compliance wise, i doubt there can ever be anything worse... But yes they have great fees
Does anyone still use MisterTango?

I agree regarding Bankera being a complete garbage and must be avoid 100%.