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swissmoney

swissmoney

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Nov 15, 2023
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Hello everyone,



We’re happy to be part of this community.



At swissmoney, we offer a range of services suited for both private and business accounts, including payment cards, crypto capabilities, and multi-currency accounts.



This thread will keep you updated on all things swissmoney. We encourage open discussions, questions, and sharing of insights. Whether you're a current user, considering our services, or simply interested in the evolving world of fintech, we're here to chat!



Looking forward to great discussions and insights.
 
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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.
 
Sols said:






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

Click to expand...

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.
 
Sols said:






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.

Click to expand...

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



I would proceed with extreme caution.
 
TurnedToRobot2 said:






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.

Click to expand...





lol....don't get me excited
 
@Sols, @Konstanz, @jafo : You performed a perfect and highly valuable investigative work. Thanks and hats off!
 
Just out of curiousity, e.g. how bad is Swissmoney against MisterTango/Bankera? As for me they look the same.
 
IllIlllIII said:






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

Click to expand...

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?
 
Clearsky Network said:






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?

Click to expand...

I agree regarding Bankera being a complete garbage and must be avoid 100%.
 
Tried to register with swissmoney without luck. Got stuck on Passport Verification step where for some reason camera couldn't be turned on despite that I tried that process in several browsers/devices.
 
I was able to register and to be approved in 2 minutes ! 10/10 experience.



@IIIIIIII - did you try it with app or web browser?
 
Hi, all, I also joined today with no problems. I haven't done any transactions yet, but was able to register fast and easy and was approved within 30 minutes.



Fees look to be on the high side though
 
Swissmoney, this isn't how you do advertising. These posts will stay here forever and look like posts you paid for. No one will believe they are genuine reviews.
 
Kranders said:






I was able to register and to be approved in 2 minutes ! 10/10 experience.



@IIIIIIII - did you try it with app or web browser?

Click to expand...

I used web app only.
 
Sols said:






Swissmoney, this isn't how you do advertising. These posts will stay here forever and look like posts you paid for. No one will believe they are genuine review

Click to expand...











Sols said:






I think its at least a little irresponsible to make that claim as a staff member of this forum without proof, but your assumption is wrong. I'm not in any way connected to them. I registered on their platform though, which was fast and easy, but I found that their fees are too high so I won't be using them.

Click to expand...
 
Exactly as my case Changa



App is very easy to use, fast and simple. However fees are slightly high, but would recommend for anyone to try it
 
I think its at least a little irresponsible to make that claim as a staff member of this forum without proof, but your assumption is wrong. I'm not in any way connected to them. I registered on their platform though, which was fast and easy, but I found that their fees are too high so I won't be using them.

Click to expand...

I would've posted the exact same thing even if I wasn't a moderator. I wasn't making any concrete statements, assumptions, or conclusions; just an observation that based on the available information, your posts looks suspicious. It looks like something Swissmoney themselves would pay someone to post. But maybe it's a legitimate review that just happens to almost perfectly coincide with another that also looks a little strange.
 
Sols said:






I would've posted the exact same thing even if I wasn't a moderator. I wasn't making any concrete statements, assumptions, or conclusions; just an observation that based on the available information, your posts looks suspicious. It looks like something Swissmoney themselves would pay someone to post. But maybe it's a legitimate review that just happens to almost perfectly coincide with another that also looks a little strange.

Click to expand...

Ok, point taken. I can see how it might have looked.
 
@Kranders @Changa

Could you provide info on fees?



1) Bank Deposit/Withdrawal fees

2) Buy/Sell crypto fees



Is there an account maintenance/hidden fees?
 
I don’t recall because I am not using it and they didn’t have fees on their site. Only when you try to do something, then it tells you the fee for it. They were too high for me
 
IllIlllIII said:






@Kranders @Changa

Could you provide info on fees?



1) Bank Deposit/Withdrawal fees

2) Buy/Sell crypto fees



Is there an account maintenance/hidden fees?

Click to expand...

I use only crypto function on this platform



Deposit usdt, and spend with credit card. Deposit fee is 0 , exchange fee usdt to eur is 0.18 % that i pay.



Bank transfer i tried once i think for a sepa i paid 1 eur fixed fee.
 
daniels27 said:






But you are Swiss and still cool. No?

Click to expand...

Sorry to say so, but if you read his many other posts about banks and EMI's they are always negative - I don't know what he is doing with these banks, but they don't like him
 
daniels27 said:






But you are Swiss and still cool. No?

Click to expand...

No











JohnLocke said:






Sorry to say so, but if you read his many other posts about banks and EMI's they are always negative - I don't know what he is doing with these banks, but they don't like him

Click to expand...

I just call them out for what they are: badly trained stupid monkeys, a plague in our society.



Btw I’m perfectly happy with Revolut, which is nonsensical

And with a few other banks including Mercury, of which I am a shareholder.
 
Sorry









TurnedToRobot2 said:






No





I just call them out for what they are: badly trained stupid monkeys, a plague in our society.



Btw I’m perfectly happy with Revolut, which is nonsensical

And with a few other banks including Mercury, of which I am a shareholder.

Click to expand...



Well, I disagree, thank God for EMIs, cause banks have become WAY too difficult.
 
csp dubai said:






SO CAN WE KNOW IN WICH EMI? THAN?

OR BANK

Click to expand...

Why don't signup for an account with them and check out how they work and with who they work. Writing in capital letters let you look stupid!
 
I see Swissmoney is advertising now here .



is this firm registered in any way in Switzerland as an EMI or something else ?



do they fall under CRS ?






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They are registered SRO in Switzerland. It is not actually license from Swiss FMA. Rather registration for AML purpose.

They also work through UAB Foxpay Lithuanian EMI to facilitate payments.



Everything what seems to be "Swiss" - usually not really is
 
Konstanz said:






They are registered SRO in Switzerland. It is not actually license from Swiss FMA. Rather registration for AML purpose.

They also work through UAB Foxpay Lithuanian EMI to facilitate payments.



Everything what seems to be "Swiss" - usually not really is

Click to expand...

So , they dont even have a license as an EMI ?
 
Piano said:






So , they dont even have a license as an EMI ?

Click to expand...

They do. They own FoxPay, which is a Lithuanian EMI. They also own a licensed crypto exchange in Switzerland. Swissmoney is basically the combination of FoxPay and Bitnuk as one service. You will get Lithuanian IBANs instead of Swiss ones.
 
i not understand do they have some kind of financial license?



who is their correspondent bank>?
 
csp dubai said:






i not understand do they have some kind of financial license?



who is their correspondent bank>?

Click to expand...

They don't have or need a correspondent. They are a classic Lithuanian EMI, which has direct access to the Central Bank and IBAN issuing.
 
csp dubai said:






are you sure the have emi licence, lately emi in lithuania , they are orrible , they ask documents for each transaction lithuania is gone for ever



swissmoney is a brand of Swiss Wealth Management AG. Swiss Wealth Management AG is affiliated with d’Organisme de Surveillance pour Intermédiaires Financiers & Trustees (“SO-FIT”) (affiliation No.: 1179). SO-FIT is a self-regulatory organization approved by the Swiss Federal Financial Markets Supervisory Authority (FINMA) for the supervision of financial intermediaries referred to in article 2 al. 3 of the Swiss federal law on the fight against money laundering and the financing of terrorism (MLA).

Swiss Wealth Management AG is registered with the Swiss Companies Register (company number CHE-105.854.576) with a registered address at Metallstrasse 8, 6300 Zug, Switzerland.





to me they not sounds like they have emi licence, wealth managemnt is not emi sounds a bit risky business



https://www.northdata.com/Curci,+Jonathan,+Genève/nvq

hte director looks like a front man



https://www.northdata.com/Curci,+Jonathan,+Genève/nvqmay be swiss money is legit , but i would not trust with more than 100 000 chf , at least if they will run is easy in ch to attack them in FINMA , that is a seroius body but i do not think you will get your money back



any one knows who is their corespondent bank?

Click to expand...

I don't understand your posts honestly. Nearly everytime I see you post it's about correspondents, what is the point of this information? Also, I already answered your question about this above.



Swiss Wealth Management is the operational company of Swissmoney and the parent of FoxPay and Bitnuk.



FoxPay (Uždaroji akcinė bendrovė) has an Electronic money institution licence (valid from: 2017-09-28) issued by the Central Bank of Lithuania. This is a classic Lithuanian EMI, which is not dangerous or strange in any way. Lithuania is friendly for EMIs - similarly to the Netherlands.



Bitnuk is a classic Swiss SRO and it's supervised by the ARIF. This is a relatively reasonable accreditation for a crypto exchange.



There is no specific fact or proof that Lithuanian EMIs (and only them) ask for SoF on all transactions. And if they do - you might have some pretty suspicious transactions.



And, once more, as I said, Swissmoney does not need any partner banks (or referred to by you as correspondents). Every Lithuanian EMI (or pretty much any EU PSD2 EMI) is connected directly to its respective Central Bank for the processing of SEPA transfers and the issuing of local IBANs. It will have some correspondents for USD, GBP and CHF transfers just because Lithuania uses EUR and EMIs don't work with those currencies directly. But, nearly every bank has that (Revolut Bank UAB has JPMorgan Chase in the UK for USD, as an example), and I don't think you have any real reason to care about that because it's just the entity through which the funds pass, since an EMI won't have accounts with most major banks for receiving.
 
so your vban are issued buy fox pay? i ask about corresponedent because i like to know where my funds are stored

so swiss money has omnibus account in fox pay ?

Fox Pay has direct centrolink? or use some other providers?

Do you have swift ? can you receive usd?

Plese pm me

THANKS
 
csp dubai said:






so your vban are issued buy fox pay? i ask about corresponedent because i like to know where my funds are stored

so swiss money has omnibus account in fox pay ?

Fox Pay has direct centrolink? or use some other providers?

Do you have swift ? can you receive usd?

Plese pm me

THANKS

Click to expand...

@csp dubai



I think you are interested to know their Custodian bank and Correspondent bank



But both you can see on every service, couple steps:



THESE STEPS CAN BE USED TO FIN SERVICE NOT EVEN SWISSMONEY

1. register and try to make 1 EUR deposit via SEPA - You will see their custodian bank who handles the SEPA transactions and one IBAn associated to customers funds. Later on if you have some more knowledge there are trackers to track the total amount of deposits that IBAn has collected from the time it was created.

2. try to make deposit 1 USD or any other minimum amount - you will see their custodian bank account who handles USD transactions via SWIFT.

3. repeat that with any currency you want etc GBP , AED

4. To get to know who is their correspondent bank , simple, try to execute one transaction to your bank account from swissmoney wallet and once it is executed ask them to provide you transaction trace document of so called MT103 in this document in section :53A, B or D will show their correspondent bank ; Section 56A, C or D will show intermediary bank.

5. After all this issue yourself an IBAn with them and look what EMI stands behind , then repeat step NR4 with personal IBAn and you will see who is correspondent bank with your private iban.





Then you will get to the source of truth yourself and you will not need to rely on any answers here.
 
ilke said:






They don't have or need a correspondent. They are a classic Lithuanian EMI, which has direct access to the Central Bank and IBAN issuing.

Click to expand...

Thats not true











Kranders said:






@csp dubai



I think you are interested to know their Custodian bank and Correspondent bank



But both you can see on every service, couple steps:



THESE STEPS CAN BE USED TO FIN SERVICE NOT EVEN SWISSMONEY

1. register and try to make 1 EUR deposit via SEPA - You will see their custodian bank who handles the SEPA transactions and one IBAn associated to customers funds. Later on if you have some more knowledge there are trackers to track the total amount of deposits that IBAn has collected from the time it was created.

2. try to make deposit 1 USD or any other minimum amount - you will see their custodian bank account who handles USD transactions via SWIFT.

3. repeat that with any currency you want etc GBP , AED

4. To get to know who is their correspondent bank , simple, try to execute one transaction to your bank account from swissmoney wallet and once it is executed ask them to provide you transaction trace document of so called MT103 in this document in section :53A, B or D will show their correspondent bank ; Section 56A, C or D will show intermediary bank.

5. After all this issue yourself an IBAn with them and look what EMI stands behind , then repeat step NR4 with personal IBAn and you will see who is correspondent bank with your private iban.





Then you will get to the source of truth yourself and you will not need to rely on any answers here.

Click to expand...



Yeah good idea, only issue is that they charge 100€ for opening up a personal IBAN with Foxpay
 
csp dubai said:






so your vban are issued buy fox pay? i ask about corresponedent because i like to know where my funds are stored

so swiss money has omnibus account in fox pay ?

Fox Pay has direct centrolink? or use some other providers?

Do you have swift ? can you receive usd?

Plese pm me

THANKS

Click to expand...

Why don't you just ask SM..? Support always answers....











Kranders said:






haha thats true , thats why i told they are expensive!

Click to expand...

That's not entirely true... Some time ago I sent a link from the German YT video (+affiliate link from ....) here and with it all SM services were free. Unfortunately the admin warned me and deleted the link. I don't benefit from it, I just wanted to help. Just search YouTube, there is enough advertising for SM



A lot of YouTubers advertise SM... some of them really offer top conditions via their affiliate link... I mean everything for free: VCC, IBAN everything FREE...



But I still have to say that I was not satisfied with SM and closed my account. I already have an allergy to all Lithuanian banks/EMIs etc...
 
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Thanks @padres123 thats valuable information to hear actually.



Just fyi if i would find a better pricing for them , - i would definitely use them.
 
some one here has account with them ? i am sure swiss money is monitoring the convesation ,please giva us some unswer
 
csp dubai said:






some one here has account with them ? i am sure swiss money is monitoring the convesation ,please giva us some unswer

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csp dubai said:






some one here has account with them ? i am sure swiss money is monitoring the convesation ,please giva us some unswer

Click to expand...

They are advertising here, so I encourage you to try them out with 4 digits and return here to share your experience with us. What's the worst that can happen?
 
csp dubai said:






why they not simply give us some answer?

Click to expand...

Because sales, onboarding, compliance etc etc are NOT the same group!

Sales want your business.

Onboarding has requirements but you may get approved

Compliance officers may just close your account because their search, once you are already a client, is above their risk appetite.



Why don't they talk to each other? Because some are NOT even in the same country (or continent) and some may not even know each other. Banking sucks lately!
 
I think in general we should stop trying to smear each other here on the forum. If there is real evidence for a claim, you are welcome to post it here. But much of this is complete fabrication and has no basis in the real world. I also have a suspicion that under some of the usernames, there are people with a background that makes it convenient to badmouth certain services here. We would like to put a stop to that. So, if in the future one cannot argue properly for their claim, and one does not want to listen to reasonable words, well, then we can only start to give warning points and ultimately mute a user for 1 month!
 
JohnLocke said:






there are people with a background that makes it convenient to badmouth certain services here.

Click to expand...

Sometimes badmouthing is useful. It helped me to recover money from a Bahamas bank (not the one I am litigating with). The day after I published a review, a bank monkey called me and promptly returned my money, after one year of vain attempts, in return for deleting the review.

I would so much love to be sued by a bank for defamation
 
JohnLocke said:






I think in general we should stop trying to smear each other here on the forum. If there is real evidence for a claim, you are welcome to post it here. But much of this is complete fabrication and has no basis in the real world. I also have a suspicion that under some of the usernames, there are people with a background that makes it convenient to badmouth certain services here. We would like to put a stop to that. So, if in the future one cannot argue properly for their claim, and one does not want to listen to reasonable words, well, then we can only start to give warning points and ultimately mute a user for 1 month!

Click to expand...

I'm glad you mentioned this...and that is exactly what I was referring to when I wrote:









If one can't afford to spend 4 digits to really have boots-on-the-ground experience, how can anything any of us say provide them the guarantee they are seeking?



If one reads Glassdoor and other similar sites, there is a HUGE attrition ratio at banks, exchanges, and other FIs now. All those beautiful and helpful people I had at Wegelin, Banca Monte Dei Paschi di Siena, BSI, Credit Suisse, etc have disappeared now. Some retired, some moved to other industries, and some moved to other banks that limited their latitudes. So many new and strange faces now with so many new demands that even the regulators have not inked on paper. I have accounts that are +30 years old and some bank monkeys have asked for audited financials, SOF, SOW, etc, etc. Luckily, I "expected" this by reading this forum and reading the experiences of others.



My experience with Wise was great until it wasn't anymore. Apparently, +€6K expenses per month (groceries, pharmacy, medical check-ups, supplements, TRT, restaurants, insurance, fuel) were beyond their appetite risk. I submitted their requested documents and they refused them all, so I cleared my account & "bounced". I only regret NOT having left earlier the moment they asked for the first piece of document. I had to close my account and leave instead of d1cking around with them. My only regret with them.



I have tried most of the banks, FIs, and exchanges mentioned on OCT with the exceptions of those that require huge upfront application fees. Most are above average in today's terms. Some are excellent. Some are comme ci, comme ça. What we were able to do pre-2010 is no longer available. I lament this every day!



Good luck!
 
still i not understand if i put money in swiss money wich istutution willhold my funds?
 
csp dubai said:






still i not understand if i put money in swiss money wich istutution willhold my funds?

Click to expand...

I believe it's safeguarded at Bank Frick if I remember correctly from my meeting with them. But correct me if I am wrong. They may be cooperating with Bank Frick for another activity or safeguarding crypto.
 
Besides thinking that it is unnecessary to post that kind of thing here, it raises some new questions:


Where are you from, which country?
What kind of business do you have?
Where is your company located?
Is it a startup?
What do you sell?
And as we have discussed so many times on this forum, each bank has its policies and rules, and it is they who decide whom they want to onboard or not. The risk appetite is also different, so there are probably not many who can answer why you were rejected.
 
TurnedToRobot2 said:






Sometimes badmouthing is useful. It helped me to recover money from a Bahamas bank (not the one I am litigating with). The day after I published a review, a bank monkey called me and promptly returned my money, after one year of vain attempts, in return for deleting the review.

I would so much love to be sued by a bank for defamation

Click to expand...

Agreed. Can you let me know where you put the review, or was it here? I need to know for future if I have these kinds of issues. I agree they loose way more with bad rep then they gain stealing your money, so its a good tactic to "fight back" if needed id always assumed, about any company. As a digital marketer all my clients a terrified of bad reviews in trusted places, rightly so. Obviously a tactic to only use responsibly as a last resort because you can cause a lot of damage, be responsible with it i tell myself
 
Hello everyone,



We're thrilled to join this knowledgeable community. We're here to help answer any questions you may have, and we encourage you to reach out directly if you're facing any challenges or have specific inquiries.



We're also excited to share that we're preparing a special offer exclusively for forum members, which we will announce soon.



It's a pleasure to be a part of this forum!
 
I've been using swissmoney for a while now. in general, i've been using various providers for off ramping crypto and card to spend money on daily basis. the real cool thing about swissmoney is that their cards come with good flexibility, high limitations. I have cards in other traditional banks too but with swissmoney card if i buy luxury goods in shops, no questions asked, transactions goes smooth, instantly. So far no complaints towards them and I think their IBANs from Bank Frick could be a good tool for managing taxes
 
Marzio said:






Do they offer CH IBANs or LI IBANs?

Click to expand...

It's a LI IBAN which is a tax haven and brings a lot of privileges on a table. but on the downside the fees are pretty high for using LI ibans through swissmoney. If you have access and ability to open account directly from bank frick it would be substantially cheaper. But again... if you need time-effective and convenient alternative than swissmoney is the best option in my opnion.
 
Marzio said:






Do they offer CH IBANs or LI IBANs?

Click to expand...



We offer virtual IBAN from Liechtenstein supporting USD, EUR, CHF, and GBP, and dedicated EUR IBANs from Lithuania. Soon, we'll be introducing Swiss IBANs as well.
 
swissmoney said:






We offer virtual IBAN from Liechtenstein supporting USD, EUR, CHF, and GBP, and dedicated EUR IBANs from Lithuania. Soon, we'll be introducing Swiss IBANs as well.

Click to expand...

What measures does Swissmoney take to guard and secure our personal and corporate details, i.e. passport, photos, emails, correspondence, and all other identifiable data that if left "unattended/unguarded" can lead to identity theft or worse?
 
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.

Click to expand...



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?
 
Last edited:
z00m said:






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.





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?

Click to expand...

From my experience, I've used only for off-ramping crypto and spending it daily by card. The fee wise I think you can get better rates if you do large volumes. Just reach out to support or something. They also have private concierge service. basically, you get a person assigned like a support who is available 24/7 so maybe through that you can get better rates
 
swissmoney said:






Hello everyone,



We’re happy to be part of this community.



At swissmoney, we offer a range of services suited for both private and business accounts, including payment cards, crypto capabilities, and multi-currency accounts.



This thread will keep you updated on all things swissmoney. We encourage open discussions, questions, and sharing of insights. Whether you're a current user, considering our services, or simply interested in the evolving world of fintech, we're here to chat!



Looking forward to great discussions and insights.

Click to expand...

Your Support was very poor no one answer
 
z00m said:






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.





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?

Click to expand...

I had already posted a link from Youtuber. Everything is free at SM via his link. IBAN and VCC ...all for free. Unfortunately the forum admin deleted the link. I don't know why..Just YouTube video!!!!

Yes, I had acc. at SM.. you have to read the whole topic from the beginning











kalikex said:






Your Support was very poor no one answer

Click to expand...

I closed my account for exactly that reason... lack of support. But the deposit FEE from ETH was also super high... So deposit FEE... There's nothing like that anywhere



What still annoys me is that the prices were different for everyone. Each YouTube offered different conditions... For some everything was FREE, for others the card and IBAN cost a lot. So I thought if someone doesn't have fixed prices, it's not OK for me!!!



---------------

Min deposit amount ETH 0.01.

Lower deposit amount will be declined.

Deposit fee amount ETH 0.0075.

---------------
 
Last edited:
jafo said:






What measures does Swissmoney take to guard and secure our personal and corporate details, i.e. passport, photos, emails, correspondence, and all other identifiable data that if left "unattended/unguarded" can lead to identity theft or worse?

Click to expand...



Swissmoney and our partners are regulated and licensed institutions, strictly adhering to data privacy regulations. As a Swiss entity, maintaining the highest security standards to safeguard personal and corporate details is crucial. Without it, we simply wouldn't be allowed to operate.











kalikex said:






Your Support was very poor no one answer

Click to expand...



We wrote you directly, please check your inbox.
 
swissmoney said:






Swissmoney and our partners are regulated and licensed institutions, strictly adhering to data privacy regulations. As a Swiss entity, maintaining the highest security standards to safeguard personal and corporate details is crucial. Without it, we simply wouldn't be allowed to operate.







We wrote you directly, please check your inbox.

Click to expand...

Thanks for Your support
 
So they are just another EMI with high fees and radicilous 15k eur limit?

Is there anything special about them that might incline me to try them?
 
Maybe I was not careful to read all the posts, but is the crypto exchange in Switzerland a member of an SRO? If yes which one?
 
PinkCat said:






So they are just another EMI with high fees and radicilous 15k eur limit?

Is there anything special about them that might incline me to try them?

Click to expand...

The 15k EUR limit is standard practice among financial institutions and aligns with our internal AML policy. However, this annual threshold can be raised to any desired amount, provided you can supply valid SoF.



We recommend signing up on our platform to assess our features and services for yourself. Keep an eye out for a special offer we'll be announcing exclusively for forum members, allowing you to fully experience our platform.









lacomaco said:






Maybe I was not careful to read all the posts, but is the crypto exchange in Switzerland a member of an SRO? If yes which one?

Click to expand...



Bitnuk AG operates under the regulatory supervision of ARIF. You can look it up here.
 
swissmoney said:






The 15k EUR limit is standard practice among financial institutions and aligns with our internal AML policy. However, this annual threshold can be raised to any desired amount, provided you can supply valid SoF.



We recommend signing up on our platform to assess our features and services for yourself. Keep an eye out for a special offer we'll be announcing exclusively for forum members, allowing you to fully experience our platform.





Bitnuk AG operates under the regulatory supervision of ARIF. You can look it up here.

Click to expand...

I have cryptos from 2014-2015. The exchanges no longer exist. What does valid SOF mean ?
 
swissmoney said:






The 15k EUR limit is standard practice among financial institutions and aligns with our internal AML policy. However, this annual threshold can be raised to any desired amount, provided you can supply valid SoF.



We recommend signing up on our platform to assess our features and services for yourself. Keep an eye out for a special offer we'll be announcing exclusively for forum members, allowing you to fully experience our platform.





Bitnuk AG operates under the regulatory supervision of ARIF. You can look it up here.

Click to expand...

Will you respect crypto SoF? I can prove millions if you accept proofs like signing arbitrary message with private key that holds easily onchain trackable millions. However most financial institution like the experts to try or understand this.

On your page you talk about almost limitless cards, can I really get a card that will allow me to charge 100s of thousands on a POS?
 
padres123 said:






I have cryptos from 2014-2015. The exchanges no longer exist. What does valid SOF mean ?

Click to expand...









PinkCat said:






Will you respect crypto SoF? I can prove millions if you accept proofs like signing arbitrary message with private key that holds easily onchain trackable millions.

Click to expand...



We are crypto friendly and can accept signed crypto wallets as a valid SoF to increase limits. We review each request individually, so we may require additional details or explanations from you. I'll reach out to both of you in private to discuss your individual situations.











PinkCat said:






On your page you talk about almost limitless cards, can I really get a card that will allow me to charge 100s of thousands on a POS?

Click to expand...



Regarding the card, our default limit for a single POS transaction is 5k EUR, but we can upgrade to higher limits upon request.
 
swissmoney said:






We are crypto friendly and can accept signed crypto wallets as a valid SoF to increase limits. We review each request individually, so we may require additional details or explanations from you. I'll reach out to both of you in private to discuss your individual situations.







Regarding the card, our default limit for a single POS transaction is 5k EUR, but we can upgrade to higher limits upon request.

Click to expand...

Ok, sounds promising.

Once you prove my SoF, will I be able to make 6 figures wires without constant freezes and problems?
 
TurnedToRobot2 said:






8 days passed and the SoF document is still under review. Not impressed.

Click to expand...

Throw few millions at them and see how they handle it and let us know
 
PinkCat said:






Throw few millions at them and see how they handle it and let us know

Click to expand...

they offer private banking service. if you really have 6 figures to throw it definitely makes sense to take advantage of this service.
 
brunelloch said:






they offer private banking service. if you really have 6 figures to throw it definitely makes sense to take advantage of this service.

Click to expand...



Can you provide more information on this so called private banking services they offer?
 
PinkCat said:






Ok, sounds promising.

Once you prove my SoF, will I be able to make 6 figures wires without constant freezes and problems?

Click to expand...



Standard AML procedures will still apply to wire transactions. However, you can attach the documents explaining the basis of your 6-figure transactions while making the transaction, which will ensure a smooth process.











TurnedToRobot2 said:






8 days passed and the SoF document is still under review. Not impressed.

Click to expand...



Our team checked the system and found no pending documents for limit increase from this date range. I'll reach out in private to escalate this case further.
 
swissmoney said:






Our team checked the system and found no pending documents for limit increase from this date range. I'll reach out in private to escalate this case further.

Click to expand...

My SoF has just been rejected
 
Martin Everson said:






Can you provide more information on this so called private banking services they offer?

Click to expand...

I have a friend who is their client and he spends large sums monthly with swissmoney card. basically, he has this dedicated account manager within so called "concierge service". He has a whatsapp communication with one of the sales guys over there and anytime he has large transactions to make he reaches out this account manager who facilitates the whole transaction to go smooth. It's really similar to what black amex holders get in the nutshell.
 
brunelloch said:






I have a friend who is their client and he spends large sums monthly with swissmoney card. basically, he has this dedicated account manager within so called "concierge service". He has a whatsapp communication with one of the sales guys over there and anytime he has large transactions to make he reaches out this account manager who facilitates the whole transaction to go smooth. It's really similar to what black amex holders get in the nutshell.

Click to expand...



Ok but that is not private banking services or even close to what private banking services are like - as a client of private banking myself. Better to compare to Amex like you did than to make a bold claim that it is anything like private banking services.
 
brunelloch said:






It's really similar to what black amex holders get in the nutshell.

Click to expand...

The only thing Amex centurion holders get is a $4000 annual fee and an account manager (when available) for hotel bookings.
 
TurnedToRobot2 said:






The only thing Amex centurion holders get is a $4000 annual fee and an account manager (when available) for hotel bookings.

Click to expand...



You forgot about the 10€ monthly *FREE* Netflix Subscription though?



Coming back to SwissMoney I can't take a "bank" serious which is affiliated with our German fellow "Prinz Marcus von Anhalt".



I also ran into issue regarding their "live" verification.



This might be suitable addition as an EMI for some but has nothing do with *proper* "Swiss Banking" from my perspective.
 
apres777 said:






You forgot about the 10€ monthly *FREE* Netflix Subscription though?

Click to expand...

Really? How can I get it without calling Brighton and staying on the line for 20 minutes?









apres777 said:






I also ran into issue regarding their "live" verification.

Click to expand...

They use a third party service.









apres777 said:






This might be suitable addition as an EMI for some but has nothing do with *proper* "Swiss Banking" from my perspective.

Click to expand...

Of course they have nothing to do with Swiss Banking. And today Swiss banks are no different from any other banks.
 
swissmoney said:






Hello everyone,



We’re happy to be part of this community.



At swissmoney, we offer a range of services suited for both private and business accounts, including payment cards, crypto capabilities, and multi-currency accounts.



This thread will keep you updated on all things swissmoney. We encourage open discussions, questions, and sharing of insights. Whether you're a current user, considering our services, or simply interested in the evolving world of fintech, we're here to chat!



Looking forward to great discussions and insights.

Click to expand...

Hi I went through the lengthy process of submitting all my company documents and the questionnaire as well as the €450 fee to check my documents. I could log into my company account and see that the process is still pending as it’s not 5 business days yet. But I’ve logged in now and all my information for my company is gone and it has my name as the title, asking me to submit my documents for a personal account. The business account is gone and it’s titled personal account. This is extremely scary… there is a bad glitch, what if my business account was operational with funds and it’s suddenly all gone? How do I have this restored?











IllIlllIII said:






Tried to register with swissmoney without luck. Got stuck on Passport Verification step where for some reason camera couldn't be turned on despite that I tried that process in several browsers/devices.

Click to expand...

You needed to select the trifold camera on their drop down menu. I had the same issue. It would not focus until I found the camera options in their menu.
 
Last edited:
Gjrwings said:






But I’ve logged in now and all my information for my company is gone and it has my name as the title, asking me to submit my documents for a personal account. The business account is gone and it’s titled personal account.

Click to expand...



Reached out in private to escalate this case.
 
Special offer!​

We're excited to present a special opportunity exclusively for the forum members! For the next 7 days, anyone who signs up on our platform using the link will gain free access to all our services. This is your opportunity to test and enjoy our platform at absolutely no cost.



To take advantage of this offer, complete the identity verification after registering, and dive into the full experience of our services.



Please be aware that this offer of free access is only valid for the 7-day period. After this period ends on Monday, the pricing for all accounts will convert to our standard pricing.



Sign up HERE.
 
Last edited:
Cool, but I signed up some time ago and I’m waiting for SoF to be approved. You could provide a code that the unlucky fellas like me can use to obtain the free services.
 
TurnedToRobot2 said:






Cool, but I signed up some time ago and I’m waiting for SoF to be approved. You could provide a code that the unlucky fellas like me can use to obtain the free services.

Click to expand...



I understand that your SoF was rejected, as you've mentioned, and there should be a comment from our compliance team explaining why. Please re-upload your SoF in line with the feedback provided, and it will be approved.











TurnedToRobot2 said:






You could provide a code that the unlucky fellas like me can use to obtain the free services.

Click to expand...



Please send me your user ID in a private message I'll make sure to apply the limited offer pricing to your account.
 
apres777 said:






Coming back to SwissMoney I can't take a "bank" serious which is affiliated with our German fellow "Prinz Marcus von Anhalt".

Click to expand...

Who's that Prinz? first time I am hearing. pardon my ignorance on this one.
 
swissmoney said:






Special offer!​

We're excited to present a special opportunity exclusively for the forum members! For the next 7 days, anyone who signs up on our platform using the link will gain free access to all our services. This is your opportunity to test and enjoy our platform at absolutely no cost.



To take advantage of this offer, complete the identity verification after registering, and dive into the full experience of our services.



Please be aware that this offer of free access is only valid for the 7-day period. After this period ends on Monday, the pricing for all accounts will convert to our standard pricing.



Sign up HERE.

Click to expand...

Is this available for business accounts as well?
 
Martin Everson said:






Ok but that is not private banking services or even close to what private banking services are like - as a client of private banking myself. Better to compare to Amex like you did than to make a bold claim that it is anything like private banking services.

Click to expand...

You didn't fully debank yourself?
 
Martin Everson said:






Ok but that is not private banking services or even close to what private banking services are like - as a client of private banking myself. Better to compare to Amex like you did than to make a bold claim that it is anything like private banking services.

Click to expand...

My friend, private banking is a very generic and extensive term. If you understood from which perspective i meant it, then you'd not need to waste on this conversation any further.
 
Swissmoney is a sham, my application for a business account which comes with an account log in. After a lengthy procedure of providing all documents required (Articles, certificates, extracts, POF, UBO certificates etc,) lengthy questionnaire and the €450 fee plus 5 days to be reviewed. A couple days ago I tried logging in to see if the account showed any progress to find that it was no longer a company account but a personal one asking me to finish my KYC process to onboard. Company account was gone. No explanation. After contacting my account representative, Support numerous times, even on here - I got no response, except an email now saying, “due to our compliance rules and regulatory standards, we are unable to open business account for you at this time. ” How incredibly convenient. Just like Bankera that takes your review fees… Caution Caution!!!
 
We appreciate your feedback and understand your concerns. Our team is dedicated to maintaining high compliance and regulatory standards. In your case, it appears that your company's profile did not meet our criteria, and we cannot work with such companies at the current moment. Please be assured that the onboarding fee has been fully refunded. We apologize for any inconvenience this situation may have caused.
 
Gjrwings said:






Swissmoney is a sham, my application for a business account which comes with an account log in. After a lengthy procedure of providing all documents required (Articles, certificates, extracts, POF, UBO certificates etc,) lengthy questionnaire and the €450 fee plus 5 days to be reviewed. A couple days ago I tried logging in to see if the account showed any progress to find that it was no longer a company account but a personal one asking me to finish my KYC process to onboard. Company account was gone. No explanation. After contacting my account representative, Support numerous times, even on here - I got no response, except an email now saying, “due to our compliance rules and regulatory standards, we are unable to open business account for you at this time. ” How incredibly convenient. Just like Bankera that takes your review fees… Caution Caution!!!

Click to expand...

for a similar reason I closed my personal account with them. Each affiliate or customer received diferent prices. Every YouTuber offers another prices!!!!



Some offer everything for free via their affiliate link (many German Youtubers... ) ...IBAN, cards etc... all for free. Others, however, are completely different. Iban 100-400EUR...WOW. I don't know why they call themselves "Swiss". All services are from LT.... and my experience shows me that everything that has to do with LT doesn't work properly. Not at all for large amounts. Now there is way too much advertising about SM, but let's see if the service works after 2-3 months and if everyone gets the money out as easily as it is advertised!!!!!. (when the Bull Run really starts!) Good luck!!!
 
brunelloch said:






My friend, private banking is a very generic and extensive term. If you understood from which perspective i meant it, then you'd not need to waste on this conversation any further.

Click to expand...



Not too worried about whatever perspective you meant it from but they do not offer anything like private banking...lol.











Tomy223 said:






You didn't fully debank yourself?

Click to expand...

Never said I did
 
swissmoney said:






Special offer!​

We're excited to present a special opportunity exclusively for the forum members! For the next 7 days, anyone who signs up on our platform using the link will gain free access to all our services. This is your opportunity to test and enjoy our platform at absolutely no cost.



To take advantage of this offer, complete the identity verification after registering, and dive into the full experience of our services.



Please be aware that this offer of free access is only valid for the 7-day period. After this period ends on Monday, the pricing for all accounts will convert to our standard pricing.



Sign up HERE.

Click to expand...



To receive an individual IBAN you will still charge 250€ if I understand correctly?
 
How much volume is this useful for before they start foaming at the mouth and falling over backwards?
 
stronco said:






How much volume is this useful for before they start foaming at the mouth and falling over backwards?

Click to expand...

How much substance is there in your comment, what does it contribute?
 
EliasIT said:






How much substance is there in your comment, what does it contribute?

Click to expand...

Its not a comment, its a question, made apparent by the punctuation mark at the end of the sentence.



The substance will depend on what answers the members of the forum can provide. Sort of how I am answering your question.
 
After having provided corporate documents and tax returns I am asked to provide bank statements as SoF to increase the €15k limit. Enough for me, there are better options out there.
 
TurnedToRobot2 said:






tax returns

Click to expand...

Even under the threat of fatal violence, I am NEVER EVER providing ANY of this! This is extremely personal and NOT anyone's business!

I take NO prisoners at such a request!



I take less offense if someone tells me: "We are now at War. Get your weapons ready."
 
jafo said:






Even under the threat of fatal violence, I am NEVER EVER providing ANY of this! This is extremely personal and NOT anyone's business!

I take NO prisoners at such a request!



I take less offense if someone tells me: "We are now at War. Get your weapons ready."

Click to expand...

I agree but my tax returns are not much detailed, they just show the flat tax amount I pay.

Anyway I tried with genuine documents and my patience is exhausted. I’m pretty sure I would be approved in the blink of an eye with fake docs.
 
TurnedToRobot2 said:






I agree but my tax returns are not much detailed, they just show the flat tax amount I pay.

Click to expand...

Oh yes! I remember this now. True. The flat tax "down south". Yep, that's quite different. I can live with that!



I have the "Imposizione secondo il dispendio" and I don't want to reveal that. I travel in Asia and Latin America...if that sh1t gets out, I'm DEAD!

What am I going to do when dozens of armed men with low IQs (<80) (e.g. in Latin America) stop me, unarmed, on "their" road?





https://twitter.com/x/status/1731481399184515191
 
Are you onboarding non-EEA residents (with included plastic debit cards) ?
 
JosephLL said:






Are you onboarding non-EEA residents (with included plastic debit cards) ?

Click to expand...



Yes, we can onboard non-EEA residents. We do not work with sanctioned countries and the US.
 
CoinMaster said:






Can we use your service as an real bank like Wise and Airwallex ?

Click to expand...



Absolutely! Plus, with us, you get the added convenience of being able to sell, buy, and spend crypto.
 
Sent me a email recently, notification in the account, logged in no notification lol.



Noticed I'd never done KYC either so did it, perhaps i'll be able to read the elusive notification now.
 
wellington said:






Sent me a email recently, notification in the account, logged in no notification lol.



Noticed I'd never done KYC either so did it, perhaps i'll be able to read the elusive notification now.

Click to expand...

The same happened to me to day, got email notification for a reply (first time, before there were replies without notification) but there is no new message in the account. Actually they haven't replied about my KYC process in the last 2-3 days.
 
TurnedToRobot2 said:






8 days passed and the SoF document is still under review. Not impressed.

Click to expand...

I finally got round to doing KYC after creating an account years ago, that was about 1 week (or so) back.



Thank you!

We received your application and it is under review. It will take no longer than 2 business days to review it.



Lol.











PinkCat said:






The same happened to me to day, got email notification for a reply (first time, before there were replies without notification) but there is no new message in the account. Actually they haven't replied about my KYC process in the last 2-3 days.

Click to expand...

Glad i'm not the only one then.
 
How is it going with all applications pending ? You are posting here if something goes wrong but not if something goes well? I'm interested in this service that's why I ask??
 
No way for me to pass their DD for increasing the 15k Eur limit. They keep asking for more documents and reply after weeks.

Oh well, I have enough alternatives that work well, so I don’t really need this account.
 
TurnedToRobot2 said:






No way for me to pass their DD for increasing the 15k Eur limit. They keep asking for more documents and reply after weeks.

Oh well, I have enough alternatives that work well, so I don’t really need this account.

Click to expand...

Same here....

that's why I closed my account!!!!
 
PinkCat said:






I'm still in the SoF process, seems to be slowly moving ahead.

Click to expand...

What does it mean slowly? do you rovide all information quickly and as requested or do you spend days on providing such documents, please be honest and let us know?
 
ImKing said:






What does it mean slowly? do you rovide all information quickly and as requested or do you spend days on providing such documents, please be honest and let us know?

Click to expand...



Usually same or next day.





Here is an update and hold to your chairs!

After spending weeks in proving SoF and successfully proving mills $ they are asking me to change my email to a known domain in order to continue!

I'm using paid email with my own domain but seems they prefer to see a gmail or yahoo instead

Such hilarious requirement makes me strongly question their seriousness.
 
PinkCat said:






Usually same or next day.





Here is an update and hold to your chairs!

After spending weeks in proving SoF and successfully proving mills $ they are asking me to change my email to a known domain in order to continue!

I'm using paid email with my own domain but seems they prefer to see a gmail or yahoo instead

Such hilarious requirement makes me strongly question their seriousness.

Click to expand...

We should have smelled b just from the name and logo they chose.
 
TurnedToRobot2 said:






We should have smelled b just from the name and logo they chose.

Click to expand...

yeah i was hesitant to try them but since they spend money to advertise here i thought to give them a chance, oh and they also promised me a high transaction limit card (most cards can do max like 10-15k eur per transaction)



oh well, might have just saved me from having some amount frozen with them indefinitely.
 
PinkCat said:






yeah i was hesitant to try them but since they spend money to advertise here i thought to give them a chance,

Click to expand...

Same reason why I tried









PinkCat said:






oh and they also promised me a high transaction limit card (most cards can do max like 10-15k eur per transaction)

Click to expand...

You can always do SwissBorg,>fiat to personal account,>amex
 
Here is more updates from me.

After telling their support that their requirement is non-sense they actually approved me. But now I don't feel confident about using them, where and how I can check if they are indeed legit and safe to park some funds with them?





@TurnedToRobot2 About this high limit card, do you mean that I just register at SwissBord deposit some fiat into personal account with them and request amex card from them? Pm me if you prerefer, thanks!
 
TurnedToRobot2 said:






No way for me to pass their DD for increasing the 15k Eur limit. They keep asking for more documents and reply after weeks.

Oh well, I have enough alternatives that work well, so I don’t really need this account.

Click to expand...



I'm sorry to hear about your dissatisfaction. However, it's important to note that if the documents provided for SoF were in line with our specified guidelines, there wouldn't have been any issues, and your limit would have been increased accordingly. We don't reject SoF documents without reason. As a regulated business, we have procedures and standards that must be met to ensure compliance and security.











PinkCat said:






yeah i was hesitant to try them but since they spend money to advertise here i thought to give them a chance, oh and they also promised me a high transaction limit card (most cards can do max like 10-15k eur per transaction)

Click to expand...



Regarding the high transaction limit card you mentioned, it's definitely something we can offer. Our team will be in touch with you to discuss the details further and ensure we meet your specific needs.
 
PinkCat said:






I'm sorry to hear about your dissatisfaction. However, it's important to note that if the documents provided for SoF were in line with our specified guidelines, there wouldn't have been any issues, and your limit would have been increased accordingly. We don't reject SoF documents without reason. As a regulated business, we have procedures and standards that must be met to ensure compliance and security.

Click to expand...

The same “procedures and standards” apply to all the other Lithuanian EMIs (as well as banks and brokers in much more reputable jurisdictions, including Switzerland) that have accepted the same SoF I provided.
 
TurnedToRobot2 said:






The same “procedures and standards” apply to all the other Lithuanian EMIs (as well as banks and brokers in much more reputable jurisdictions, including Switzerland) that have accepted the same SoF I provided.

Click to expand...

Maybe they need to practice a deeper and more profound inspection. Can you bend a lil bit more?
 
Finally authorised it seems.

"



We just wanted to remind you about the convenience of using the swissmoney app to access your account. All you need to do is top-up your account and enjoy swissmoney anywhere you go.​





Did You Know That swissmoney Has No Spending Limits?



While traditional finance institutions would require wire transfers for expensive purchases, swissmoney allows you to make large purchases without any hassle. As long as you have provided the required proof of earning documents, you can increase your daily limit as much as you want and make expensive purchases without the added wait, paperwork and inconvenience of a wire transfer.​
 
We apologize for the lengthy onboarding process you've experienced – it's certainly not our standard, and we understand the inconvenience it may have caused. Going forward, we're committed to ensuring a smooth experience on our platform for you. I'll reach out to you in private to discuss more details and address any further concerns you might have.
 
How can I be sure that my account and my funds are secure?​swissmoney employs 2FA authentication to ensure that only you will be able to access your account. Your fiat funds held in dedicated IBANs are protected by the Bank of Lithuania, while pooling accounts in BankFrick are held at the lowest risk exposure level. Your crypto assets are stored in custodial wallets issued to you automatically, designed in a way that denies access to us and swissmoney’s offline cloud storage solution ensures that your private keys do not come into contact with the internet.​

Click to expand...














swissmoney’s offline cloud storage solution​

Click to expand...



Uhmm, offline cloud?
 
Yes Exchanges from EU / LT drive you crazy for large amounts. If the moderator allows me, I could post my link for the perfect provider... Payouts up to 100k - no problem, free CH Iban and much more. I've been testing for 2 months. It's really cool. Many better than Monerium, swapin etc.
 
padres123 said:






Yes Exchanges from EU / LT drive you crazy for large amounts. If the moderator allows me, I could post my link for the perfect provider... Payouts up to 100k - no problem, free CH Iban and much more. I've been testing for 2 months. It's really cool. Many better than Monerium, swapin etc.

Click to expand...

Do that in private or in the Mentor Gold Group.
 
Changa said:






Hi Padres, DM me please

Click to expand...

He can't! Only paid subscribers can initiate DMs.


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Surely, you can afford €0.01/ hour (Bronze Membership) for valuable information, right?
 
Well well well, what do we have here. @swissmoney, you are not solving any problems with your platform, as a matter of fact, you are bringing problems onto the table.



Here's my review:



App is full of bugs. Support is slow. Fees are not transparent and the fact that you have "swiss" in your name but nothing to do with Switzerland makes me suspicious. I tried opening an account, seems like their app is not syncing with their web app, support requests on the app do not update on the web app and vice versa.



I sent a bank statement as a SoF document, highly reputable bank. They saw that I received money from another one of my accounts and wanted me to send the statement from that other account instead, this is where I stopped. Why? Because I have multiple bank accounts and we would end up in a loop with them asking for more statements, which makes no sense because I ALREADY GAVE YOU MY SOF DOCUMENT! You don't need to know more than that.



2/10 rating, giving the 2 because I like the idea, not how it is implemented. I've also noticed a pattern with some of the profiles replying to this topic, but that's not something I want to expand on.
 
Compliance feedback taking long time, I'm not politically exposed and have no complicated corporate structure. Not recommended!



"Swiss" is also misleading, it's a Lithuanian bank.
 
padres123 said:






Yes Exchanges from EU / LT drive you crazy for large amounts. If the moderator allows me, I could post my link for the perfect provider... Payouts up to 100k - no problem, free CH Iban and much more. I've been testing for 2 months. It's really cool. Many better than Monerium, swapin etc.

Click to expand...

Let us know Padres, this is what this forum is for. Helping out.
 
padres123 said:






Yes Exchanges from EU / LT drive you crazy for large amounts. If the moderator allows me, I could post my link for the perfect provider... Payouts up to 100k - no problem, free CH Iban and much more. I've been testing for 2 months. It's really cool. Many better than Monerium, swapin etc.

Click to expand...

You can send me in private too











Rome said:






Uhmm, offline cloud?

Click to expand...

Cloud planet lol











diatessaron said:






Well well well, what do we have here. @swissmoney, you are not solving any problems with your platform, as a matter of fact, you are bringing problems onto the table.



Here's my review:



App is full of bugs. Support is slow. Fees are not transparent and the fact that you have "swiss" in your name but nothing to do with Switzerland makes me suspicious. I tried opening an account, seems like their app is not syncing with their web app, support requests on the app do not update on the web app and vice versa.



I sent a bank statement as a SoF document, highly reputable bank. They saw that I received money from another one of my accounts and wanted me to send the statement from that other account instead, this is where I stopped. Why? Because I have multiple bank accounts and we would end up in a loop with them asking for more statements, which makes no sense because I ALREADY GAVE YOU MY SOF DOCUMENT! You don't need to know more than that.



2/10 rating, giving the 2 because I like the idea, not how it is implemented. I've also noticed a pattern with some of the profiles replying to this topic, but that's not something I want to expand on.

Click to expand...

I also gave up with them, feels unreliable, too many red flags. I also dropped Dukascopy
 
Last edited:
Hi Swissmoney, can I trust in you for a personal account? PRIVACY? the same of swiss banks? I wait your PM ! Tarzan

Dukascopy has an office in Lithuania....forgive me if is wrong!
 
Please stick to the topic in this thread and note that this is a paid thread by Swissmoney! They can choose to have your off-topic comments removed at any time. Discussing other services in an advertising thread is not allowed.
 
Very bad experience on the onboarding for a business account, i did onboarding with a man Quentin, so kind, but ask for tons tons of docs, some i had to pay for that, say all ok, send to compliance department, and without reason reject open the account
 
Wow, they approved my account in 1 week and asked 500 EUR to open Iban account, don't you think that it is too much? The funny thing is that they have https://www.foxpay.lt/ with the same service and ibans for 50 EUR
 
lopukhin said:






Wow, they approved my account in 1 week and asked 500 EUR to open Iban account, don't you think that it is too much?

Click to expand...

Well, IMO it's an adequate onboarding fee for a high-risk business. And if you are Russian, as it may seem from your profile, you are high-risk for an European EMI today...









lopukhin said:






The funny thing is that they have https://www.foxpay.lt/ with the same service and ibans for 50 EUR

Click to expand...

You can give it a try. You will see whether they accept you... (But if I were Russian and wanted an European EMI account now, I would pay 500 EUR immediately.)
 
Forester said:






Well, IMO it's an adequate onboarding fee for a high-risk business. And if you are Russian, as it may seem from your profile, you are high-risk for an European EMI today...



You can give it a try. You will see whether they accept you... (But if I were Russian and wanted an European EMI account now, I would pay 500 EUR immediately.)

Click to expand...

I am Russian, but I have EU residence. I had an account in foxpay, but they asked me to explain every transaction, they asked me to attach documents for every transaction, even for 1 EUR incoming and outcoming EUR, so if I did 5 sepa transactions in one day I needed to send them end explain it 5 times. I closed my account because they were approving transactions sometimes for 1 hour and sometimes for 1 week. Try to imagine, I wanted to pay for my apartment and they confirmed my transaction after I have provided documents in a week. Crazy
 
lopukhin said:






I am Russian, but I have EU residence. I had an account in foxpay, but they asked me to explain every transaction, they asked me to attach documents for every transaction, even for 1 EUR incoming and outcoming EUR, so if I did 5 sepa transactions in one day I needed to send them end explain it 5 times. I closed my account because they were approving transactions sometimes for 1 hour and sometimes for 1 week. Try to imagine, I wanted to pay for my apartment and they confirmed my transaction after I have provided documents in a week. Crazy

Click to expand...

Yes, crazy; but unfortunately quite expectable today for a Lithuanian EMI with your passport. And with another LT EMI (Swissmoney are also LT, AFAIK) it need not be much better, I am afraid.

I do not like it at all but it's the today's reality.

You would be probably better served by some local bank that knows who you are etc. Of course it depends on your particular residency. The anti-Russian psychosis is not equally strong across the EU.
 
Forester said:






Yes, crazy; but unfortunately quite expectable today for a Lithuanian EMI with your passport. And with another LT EMI (Swissmoney are LT, AFAIK) it need not be much better, I am afraid.

Click to expand...

Swissmoney is FoxPay, or at least they are connected entities with some shared ownership, and Swissmoney's dedicated IBANs are provided through them. That's why it is mentioned here, I guess.
 
They charge 500 eur for iban for personal accounts also. Also wires can be expensive since it's a %, not a flat fee. like 3k eur fee to transfer 1m.

So I'm still on the sidelines about using them.
 
ilke said:






Swissmoney is FoxPay, or at least they are connected entities with some shared ownership, and Swissmoney's dedicated IBANs are provided through them. That's why it is mentioned here, I guess.

Click to expand...

Yes, for sure; as @lopukhin already mentioned in his first post (Premium Advertising Partner - swissmoney)...
 
swissmoney said:






I'm sorry to hear about your dissatisfaction. However, it's important to note that if the documents provided for SoF were in line with our specified guidelines, there wouldn't have been any issues, and your limit would have been increased accordingly. We don't reject SoF documents without reason. As a regulated business, we have procedures and standards that must be met to ensure compliance and security.







Regarding the high transaction limit card you mentioned, it's definitely something we can offer. Our team will be in touch with you to discuss the details further and ensure we meet your specific needs.

Click to expand...

Exactly how are you regulated ? Aren’t you in Switzerland because you don’t have to be regulated there (“self regulation “) ? Or does FINMA know you exist ?
 
I paid them 500 EUR to open an account and the denied me to open an iban. I asked them why and they told me that it is their internal decision. I asked them to provide a full answer regarding my EU rights but they prefer not to answer me anymore.
 
You have no right to demand a full explanation, you don't have that with any bank, and to be honest, you won't get it with your local bank either! So stop whining, if they can't onboard you as a customer, it's probably because you are considered high risk.
 
You need to learn LAW if you think what you linked to give you the right! I have a clue now why you don't got that account opened.
 
GDPR does not supersede AML regulations. Courts and regulators have been clear about this. If you were rejected for reasons related to AML and customer screening, you have no legal right to know why.



The rationale for that is that if banks have to start telling people why they were declined, they can use that information to reverse engineer how banks' compliance frameworks function, and use that to their advantage to get around the checks.
 
no one stlll answer my question can some one fiend their license , because i cannot, may be i am retarded
 
csp dubai said:






no one stlll answer my question can some one fiend their license , because i cannot, may be i am retarded

Click to expand...

They don't technically have a license.



Swiss Money is a member of SO-FIT which is a private sector self-regulatory organization (SRO). SO-FIT is supervised by FINMA, but its members are not. So Swiss Money does not hold a license.



However, Swiss Money provides IBANs to its customer through a partnership with an EMI licensed in Lithuania.
 
Sols said:






GDPR does not supersede AML regulations. Courts and regulators have been clear about this. If you were rejected for reasons related to AML and customer screening, you have no legal right to know why.



The rationale for that is that if banks have to start telling people why they were declined, they can use that information to reverse engineer how banks' compliance frameworks function, and use that to their advantage to get around the checks.

Click to expand...

However, how can one tell if the bank isnt simply charging to reject? after all, lets say they charge 100 bucks to open the account only to reject 95-100% of the applicants, and maybe pay someone to post around that they succeeded and are super happy. After all, these EMI would probably take a long time to earn 100 bucks, and this would seem a pretty easy way to just get some money in with no actual work required..

I still remember a time when everyone in here who tried to open an account with a specific EMI from LT got rejected after paying something like 500bucks or so
 
kkein said:






However, how can one tell if the bank isnt simply charging to reject?

Click to expand...

You can't.











kkein said:






after all, lets say they charge 100 bucks to open the account only to reject 95-100% of the applicants, and maybe pay someone to post around that they succeeded and are super happy. After all, these EMI would probably take a long time to earn 100 bucks, and this would seem a pretty easy way to just get some money in with no actual work required..

Click to expand...

The risk is there. Although the regulator will find is strange that they have such a low approval rate. Financial institutions with unusually high or unusually low approval rates will be questioned about the customer acquisition and customer onboarding/screening methods.
 
csp dubai said:






no one stlll answer my question can some one fiend their license , because i cannot, may be i am retarded

Click to expand...

You may contact them [email protected] and ask them, if they answer you, you could post their answer here
 
csp dubai said:






no one stlll answer my question can some one fiend their license , because i cannot, may be i am retarded

Click to expand...

You can find mostly accurate data on whether the particular entity is a member of one of Swiss SRO's here SRO member search and further verify information by searching/enquiring directly with SRO (SO-FIT, VQF, Polyreg)











Sols said:






They don't technically have a license.



Swiss Money is a member of SO-FIT which is a private sector self-regulatory organization (SRO). SO-FIT is supervised by FINMA, but its members are not. So Swiss Money does not hold a license.



However, Swiss Money provides IBANs to its customer through a partnership with an EMI licensed in Lithuania.

Click to expand...



Switzerland has a very interesting regulatory system, which is totally different from what we see in the EU and elsewhere. Actual level of regulatory scrutiny on financial intermediary/SRO member is somewhere in between VASP and small payment/e-money institution registration.



I can't say, based on first hand experience, that FINMA doesn't monitor and/or indirectly influence supervisory control over activities of SRO members. Under Article 16 of AMLA Act, "FINMA shall have the following duties in terms of its supervision of the financial intermediaries under Article 2 paragraph 3



a) it recognises the self-regulatory organisations or withdraws such recognition;

b) supervises the self-regulatory organisations;



c) it approves the regulations issued by the self-regulatory organisations in accordance with Article 25 and any amendments thereto;

d) it ensures that the self-regulatory organisations enforce their regulations"



However, most powers are still vested with SRO itself. There are SROs with different quality of monitoring standards and there are different AML auditors who do most of actual risk assessment works for the SRO.



SO-FIT is "mid-quality" SRO compared to VQF and Polyreg.
 
Virtual cards be added to apple wallet instantly?



Also private Vaults function can be enabled on APPLE IOS?
 
Dear Kranders,



Please note that Accessing Vaults can be done through Settings tab, After that you can access your private wallets.












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I applied for a corporate account, and was told they don't offer SEPA or Swift for new customers.
 
I have applied for an account today to get a personal impression of this service. They have been around for a year on OCT! I can't find any really negative reviews of them, they would properly have shown by now.
 
Dear forum members,



We are happy to announce that from September 1st we are starting with Swiss IBANS, for SEPA AND SWIFT also our principal VISA MEMBERSHIP.



Anyone interested to test it prior to September 1st - DM us.



Swissmoney Team
 
swissmoney said:






Dear forum members,



We are happy to announce that from September 1st we are starting with Swiss IBANS, for SEPA AND SWIFT also our principal VISA MEMBERSHIP.



Anyone interested to test it prior to September 1st - DM us.



Swissmoney Team

Click to expand...

Good news!



Would you mind sharing what will be your SWIFT/BIC code and what will be the first letters of your IBAN?
 
Unless you completely change your dd/KYC procedures I’m not going to waste any more time with attempting to upgrade my account level. There are much better and more reputable EMIs around that are way easier to deal with.
 
TurnedToRobot2 said:






Unless you completely change your dd/KYC procedures I’m not going to waste any more time with attempting to upgrade my account level. There are much better and more reputable EMIs around that are way easier to deal with.

Click to expand...

Care to list one or two of those good EMIs?
 
malcomspen said:






Care to list one or two of those good EMIs?

Click to expand...

I can’t do that in their advertising thread. But you can find a lot of information in the Mentor Gold Group.
 
Last edited:
TurnedToRobot2 said:






I can’t do that in their advertising thread. But you can find a lot of information in the Mentor Gold Group.

Click to expand...

Thank You for the feedback.



We are working hard to make / deliver service to the highest level. Not always it is possible to achieve it in a time frames that would satisfy our clients and us, but hard work beats talent. Every comment is taken into the action and will be used to improve the service.



Meanwhile we will notify you here once the upgraded service is ready to be tested.



Regards.
 
So we better wait until the 1st of September, not long until then.
 
Do you accept nonEEA persons? Do you issue a plastic card for nonEEA persons? Do you have a list of accepted countries? Do you provide a full service, the same swrvice for every accepted country or do you discriminate, for example plastic card for some?
 
JosephLL said:






Do you accept nonEEA persons? Do you issue a plastic card for nonEEA persons? Do you have a list of accepted countries? Do you provide a full service, the same swrvice for every accepted country or do you discriminate, for example plastic card for some?

Click to expand...

Yes we do, Please DM us for more information.
 
swissmoney said:






Yes we do, Please DM us for more information.

Click to expand...

Thanks for tje prompt reply! I'd like to ask a question privately but I'm afraid you have to contact me first.
 
JosephLL said:






Thanks for tje prompt reply! I'd like to ask a question privately but I'm afraid you have to contact me first.

Click to expand...

We will do that. Thanks for the interest.
 
swissmoney said:






Dear forum members,



We are happy to announce that from September 1st we are starting with Swiss IBANS, for SEPA AND SWIFT also our principal VISA MEMBERSHIP.



Anyone interested to test it prior to September 1st - DM us.



Swissmoney Team

Click to expand...

Did this became reality is it implemented already ?
 
@swissmoney, is the update live? The terms of use and the disclaimer have not been modified; Foxpay is still listed as the IBAN provider.
 
Dear community members,



Processes are moving forward even with some delays - we are progressing with last test for SEPA and SWIFT transfers and planing officially to launch SWISS (Letter CH) IBANS and CARDS issuing with 25th-30th of September. All users will receive official announcement.



Terms and conditions are being updated at them moment. Thank you for your patience and trust.





Respectfully,





SWISSMONEY
 
It’s great to see that you’re expanding your business on both the technical and tactical fronts. It feels very trustworthy to have a representative from your company here on OCT. As soon as your platform is upgraded with the new banking connection, I’ll be ready to use your service.
 
swissmoney said:






Dear community members,



Processes are moving forward even with some delays - we are progressing with last test for SEPA and SWIFT transfers and planing officially to launch SWISS (Letter CH) IBANS and CARDS issuing with 25th-30th of September. All users will receive official announcement.



Terms and conditions are being updated at them moment. Thank you for your patience and trust.





Respectfully,





SWISSMONEY

Click to expand...

That’s just within a few weeks, which is great news! I’m looking forward to taking advantage of it once you’ve fully implemented the new bank and IBANs, it’s going to be a game changer.
 
I created an account with you today but can't see the CH IBAN number yet. Will it automatically update as soon as these become available for use?
 
i registered today, completed verification process and then my account got fully deleted like non existent without any feedback or anything.



any similar cases? I really did all per procedure and provided valid documents.



i figured this out when i tried to log back in that my account does not exist.
 
vgahdmi123 said:






i registered today, completed verification process and then my account got fully deleted like non existent without any feedback or anything.



any similar cases? I really did all per procedure and provided valid documents.



i figured this out when i tried to log back in that my account does not exist.

Click to expand...

As I read from another post and as @wellington indicated, you are from Russia or have Russian relations and that's why you face troubles like this, you had the same with Bankera right!



Anyway, the least would be that Swissmoney tell you that they closed your account, wonder why they don't.
 
I dont know what is wrong with you guys and all the russian thing you related to me, wtf, I have never been in Russia in my life, dont posses even any Russian friend.
 
How is the upgrade of your systems going? Have you implemented the new IBAN numbers and switched banks internally, or are there complications delaying the process? An update here would be helpful.
 
They are not very responsive any longer, would like to know if they have implemented the new bank as they said?
 
In media says Swissmoney/foxpay owner was arrested and offices raided by financial crimes authority today
 
Konstanz said:






In media says Swissmoney/foxpay owner was arrested and offices raided by financial crimes authority today

Click to expand...

Correct but I think it is prohibited to discuss about this here. Maybe somewhere else on the website ?
 
I've recently opened an account in swissmoney just for the sport of it, having the account activated a few days ago, however all options on the app were 'greyed out'. Having written to support, I've received a reply saying: "We regret to inform you that due to unforeseen circumstances all services are temporarily unavailable at the moment. Unfortunately, we do not have an estimated timeframe for when they will be restored. While our official page has not been update with this information, rest assured that we are actively working on it. We appreciate your patience and will keep you informed of any updates."
 
Unfortunately, Swissmoney is out of operation for an indefinite period!



The thread will remain closed until there is further clarification regarding Swissmoney.
 
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