Swissquote

[liroyb]

I was told that Swissquote has now became fully functioning bank and can even accept/send third party transfers. Can anyone confirm?

 

[uranium]

Sending to third party yes
Receiving from third party no

 

[Clank]

I was told that Swissquote has now became fully functioning bank and can even accept/send third party transfers. Can anyone confirm?

I wouldn’t trust to use them as a bank, they restrict transfers to many countries. Use them as a broker.

 

[uranium]

I wouldn’t trust to use them as a bank, they restrict transfers to many countries. Use them as a broker.

Like which countries?

 

[nobel]

I was asked a stupid question once when I paid rent for an apartment. Maybe because it didn't match my residence? I stopped the transfer and used a different bank without being asked.

 

[SCHLOSSFINANZ]

Swissquote doesn't like third party transfers. They have a banking licence and a brokerage licence
but FINMA doesn't allow them transactional banking

 

[uranium]

Swissquote doesn't like third party transfers. They have a banking licence and a brokerage licence
but FINMA doesn't allow them transactional banking

Are you a swissquote customer?
Swissquote prefer not to be used as a bank but that doesn't mean you can't send money out from swissquote.

 

[SCHLOSSFINANZ]

again FINMA licenced Swissquote as a broker with asset management banking. The internal and external
auditor does NOT allow third party payments. They accept a single digit amount per month case by case

 

[cuno]

Swissquote doesn't like third party transfers. They have a banking licence and a brokerage licence
but FINMA doesn't allow them transactional banking

how useful are they if they can't handle third party transfers!

 

[zaybxc]

again FINMA licenced Swissquote as a broker with asset management banking. The internal and external
auditor does NOT allow third party payments. They accept a single digit amount per month case by case

Is this for both personal and business accounts?

 

[Clank]

Is this for both personal and business accounts?

Business I would say even less likely they accept transfers from third party at all.

Only from the members.

 

[zaybxc]

Looking at their website it seems they operate also as a bank for Swiss and middle eastern residents; not so for Europe and rest of the world.

 

[SCHLOSSFINANZ]

it is for both personal and business accounts. Why should they allow third party transfers?
They are a discount broker for trading and investing not a payment provider!

 

[CrazyPanda]

again FINMA licenced Swissquote as a broker with asset management banking. The internal and external
auditor does NOT allow third party payments. They accept a single digit amount per month case by case

Incorrect. I receive a six-figures in my SQ account every month as my IP revenue from a third paty large company. Just inform compliance and get approval

 

[SCHLOSSFINANZ]

yes a regular payment from the SAME originator! But not payments from different people every month, thats the difference.

 

[uranium]

You can send funds out of swissquote to any person you want but let's say once a month or so.

 

[CrazyPanda]

yes a regular payment from the SAME originator! But not payments from different people every month, thats the difference.

The same originator is still considered a third party; it doesn’t matter.

Also, you can’t send many payments to different people every month with personal banking at any bank. They will question you and they will either warn you or close your account. You need to open business bank account for doing business.

 

[SCHLOSSFINANZ]

You can send funds out of swissquote to any person you want but let's say once a month or so.

yes thats exactly what I said