US Banking: Would you be interested in this service if it was available?

[Nauru]

Good morning/day/evening to all of the readers of this forum!

I have made a few posts here and there on the forum in the past but I would like to make this discussion post to see how me/my firm's available services could benefit the members here.

Specifically, I'm considering (after upgrading to Mentor Group Gold) to bring an account opening service at one of the reliable credit institutions I work with.

The facts of the account:
- US ACH and Wire connected dedicated account for global businesses (in non-sanctioned countries; clean offshore also accepted) and US LLCs operated by foreigners. No businesses with ECI are currently allowed.
- Incoming payment fees at cost-price, plus 0.5% to 1.5% incoming fee based on risk rating.
- Payments to/from crypto exchanges on US rails accepted.
- The bank offers an on-ramp and off-ramp service from various stablecoins (free of charge or minimal fees based on risk rating; switch between USD and USD-pegged tokens).
- The bank recently acquired an EU EMI and it plans to start offering EUR SEPA accounts in Q1-Q2 2025. For now, pooled EUR SEPA/SWIFT account is offered through some partners as part of their service.

Is this valuable to anybody here? I don't want to start offering a service that there will be no interest in so I would like to make some basic 'market research'. I have seen that the Chase account opening service (obviously a higher level bank) by @yngmind recently got some limitations.

Please note I do not currently solicit or offer this service to OCT members. I will soon upgrade to Mentor Group Gold and then I would create an advertising thread based on the rules of this forum. I am just making this post to see if there is demand for this service because I would like to create a special offer in exchange for the valuable content published here

 

[JohnnyDoe]

How this would be superior to Mercury or Chase?
It could be interesting but the 0.5-1.5% feet has to be justified.

 

[yngmind]

How this would be superior to Mercury or Chase?
It could be interesting but the 0.5-1.5% feet has to be justified.

Agree.

Good morning/day/evening to all of the readers of this forum!

I have made a few posts here and there on the forum in the past but I would like to make this discussion post to see how me/my firm's available services could benefit the members here.

Specifically, I'm considering (after upgrading to Mentor Group Gold) to bring an account opening service at one of the reliable credit institutions I work with.

The facts of the account:
- US ACH and Wire connected dedicated account for global businesses (in non-sanctioned countries; clean offshore also accepted) and US LLCs operated by foreigners. No businesses with ECI are currently allowed.
- Incoming payment fees at cost-price, plus 0.5% to 1.5% incoming fee based on risk rating.
- Payments to/from crypto exchanges on US rails accepted.
- The bank offers an on-ramp and off-ramp service from various stablecoins (free of charge or minimal fees based on risk rating; switch between USD and USD-pegged tokens).
- The bank recently acquired an EU EMI and it plans to start offering EUR SEPA accounts in Q1-Q2 2025. For now, pooled EUR SEPA/SWIFT account is offered through some partners as part of their service.

Is this valuable to anybody here? I don't want to start offering a service that there will be no interest in so I would like to make some basic 'market research'. I have seen that the Chase account opening service (obviously a higher level bank) by @yngmind recently got some limitations.

Please note I do not currently solicit or offer this service to OCT members. I will soon upgrade to Mentor Group Gold and then I would create an advertising thread based on the rules of this forum. I am just making this post to see if there is demand for this service because I would like to create a special offer in exchange for the valuable content published here

Is this an actual bank or an EMI?

I believe there are lot's of such services already, they are OCT sponsors.

 

[Nauru]

How this would be superior to Mercury or Chase?
It could be interesting but the 0.5-1.5% feet has to be justified.

This is a fair point.

Chase: Will now require personal visit, or 1 year of company activity, according to the post from @yngmind. The services here are fully remote. Other than the requirements and risk-tolerance I guess you can't beat one of the largest (if not the largest) business bank amongst US customers.
Mercury: Already a really great product and difficult to beat. This can take foreign businesses, even from many offshore jurisdictions (not only US LLCs like Mercury). Other US fintech solutions don't have this ability. The institution also has the stablecoin on and off ramp included, which is useful for achieving cheaper transactions, sending money to suppliers, withdrawing to yourself and so on. I guess we can also mention that the Mercury backing bank has issues with correctly settling among FinTech partners and is the defendant in many ongoing lawsuits. Mercury itself has been derisking and derisking again where many countries and industries are banned.

There is also a possibility to pay to decrease the incoming transaction fee (I think it can be brought down to 0.35% at the lowest) but I would need to confirm the details regarding prices exactly.

Other than that I guess a cool benefit is a dedicated account manager, so you can speak to somebody available to assist you on different messaging apps, even the general privacy focused ones.

Is this an actual bank or an EMI?

The services provided are by a bank. The institution also has an EMI in the EU now, so it will start offering EUR details next year, as I mentioned.

I believe there are lot's of such services already, they are OCT sponsors.

Which do you mean?

 

[daniels27]

I think you won't attract any serious business due to the junk fees for my payments from Amazon. But edwardjenner still definitely be happy to cash out his stolen cryptos with you.

 

[Nauru]

I think you won't attract any serious business due to the junk fees for my payments from Amazon. But edwardjenner still definitely be happy to cash out his stolen cryptos with you.

Edwardjenner cash out stolen cryptos?

What does this mean? Is it an insult/joke in some way? I'm not familiar with the individual, sorry.

 

[daniels27]

Edwardjenner cash out stolen cryptos?

What does this mean? Is it an insult/joke in some way? I'm not familiar with the individual, sorry.

E

Thread 'Bluffing?'

Aug 26, 2024

If someone on this forum told me that theyre based in dubai and that work with lawyers, bankers, and accountants not only in dubai but have partners in switzerland, nordic countries, and singapore and would help out a client with 10 maybe 15 million usd turning a blind eye to the source of funds, would they be bluffing or quite possibly telling the truth? What are we to make of this? Who does business in dubai? Just who are the people we nod our hellos to as we pass on the street? - symbol of speech

• edwardjenner
• Replies: 11
• Forum: Let's talk body

 

[yngmind]

What will be the price for such service?

 

[JohnLocke]

And I believe the man has received more than enough publicity without following the forum rules. This is far beyond what we will tolerate here. The thread is closed.