Offshore Bank Accounts

[SilkRoad]

I need an offshore bank account.

Offshore banks offer:
- multiple currencies
- security tokens
- send wires online to other banks
- can open account w/o visiting country the bank is in

I called an offshore bank in the Isle of Man, told them I am a US citizen living in Canada that plays poker professionally and they snap rejected me. They also said they do not open accounts for USA residents ever and the fact that I live in Canada and play poker is too risky.

Can i tell a bank i'm an investor? I'm worried they'll want some proof that I cant provide. Please help.

[TheTemplar]

I didn't tell them anything when I opened it up a couple of years ago. Yet the poker situation was a bit different back then. My brother just opened an offshore account last month. When I see him tomorrow I will ask him which bank he used and what he needed. When I get the info, I will pm you if that is what you want.

[SilkRoad]

Please PM but do NOT post bank names in the thread.

I know what I need (and i have these documents)--most offshore banks require: notarized copy of passport, notarized copy of bank statement/utility bill, introduction letter from your current bank, and to fill out the application form. EVERY application form asks you to list your profession. And if you list self-employed, they want details. They also want to know your average monthly account turnover and the sizes of your wires.

[ftpjesus]

I need an offshore bank account.

Offshore banks offer:
- multiple currencies
- security tokens
- send wires online to other banks
- can open account w/o visiting country the bank is in

I called an offshore bank in the Isle of Man, told them I am a US citizen living in Canada that plays poker professionally and they snap rejected me. They also said they do not open accounts for USA residents ever and the fact that I live in Canada and play poker is too risky.

Can i tell a bank i'm an investor? I'm worried they'll want some proof that I cant provide. Please help.

If you really are in Canada then opening an acct in Canada shouldnt be that big deal honestly. But why do I suspect your not really in Canada.

BTW mentioning US Citizen and Online Poker together was just DUMB.. The bank doesnt need to know what you do with your money its none of there business unless your laundrying funds for drug dealers..

[SilkRoad]

If you really are in Canada then opening an acct in Canada shouldnt be that big deal honestly. But why do I suspect your not really in Canada.

BTW mentioning US Citizen and Online Poker together was just DUMB.. The bank doesnt need to know what you do with your money its none of there business unless your laundrying funds for drug dealers..

Opening a Canadian bank account is not a problem. I have 3 of them. But Canadian banks are almost useless for poker unless you never leave Canada. Especially if you move to a different country every 6 months.

1. Canadian banks do NOT offer real multi-currency accounts (EUR, GBP, and others)
2. Canadian banks do NOT offer security tokens (RSA, digipass, etc)
3. Canadian banks do NOT let me send wires online

Banks DO need to know what you do for a living. Its part of the application form. That is why I am asking if I can say investor. That wouldnt be a lie either. I just dont know if I could back it up to the extent they might require.

I will bet you any amount of money that I am in Canada.

[ftpjesus]

If you really are in Canada then opening an acct in Canada shouldnt be that big deal honestly. But why do I suspect your not really in Canada.

BTW mentioning US Citizen and Online Poker together was just DUMB.. The bank doesnt need to know what you do with your money its none of there business unless your laundrying funds for drug dealers..

Opening a Canadian bank account is not a problem. I have 3 of them. But Canadian banks are almost useless for poker unless you never leave Canada. Especially if you move to a different country every 6 months.

1. Canadian banks do NOT offer real multi-currency accounts (EUR, GBP, and others)
2. Canadian banks do NOT offer security tokens (RSA, digipass, etc)
3. Canadian banks do NOT let me send wires online

Banks DO need to know what you do for a living. Its part of the application form. That is why I am asking if I can say investor. That wouldnt be a lie either. I just dont know if I could back it up to the extent they might require.

I will bet you any amount of money that I am in Canada.

If your in Canada I dont understand what the big issue is with moving funds honestly. CAD and USD are basically PAR. Have you checked with HSBC since they have bank locations worldwide and offer multi-currency GBP, EUR and HKD. Check out HSBC.CA they have services designed for those who travel in and out of Canada so that may fit what you need.. Sorry if I was presuming but Ive run across people on 2+2 with the same complaints and it depends on the bank knowing what you do.. You could claim to be self-employed philanthropist .. My point being obviously was you dont tell them your a professional poker player..

[SilkRoad]

If your in Canada I dont understand what the big issue is with moving funds honestly. CAD and USD are basically PAR.

Moving funds is not an issue while I am in Canada. It becomes an issue when I move to a non-English speaking country with questionable banks, which is something I will be doing soon.

Have you checked with HSBC since they have bank locations worldwide and offer multi-currency GBP, EUR and HKD. Check out HSBC.CA they have services designed for those who travel in and out of Canada so that may fit what you need.. Sorry if I was presuming but Ive run across people on 2+2 with the same complaints and it depends on the bank knowing what you do.. You could claim to be self-employed philanthropist .. My point being obviously was you dont tell them your a professional poker player..

HSBC does provide the services i need, but they shut down accounts that are in any way linked to poker. i could probably make it work, im just worried about documentation they might ask for if i tell them i'm an investor or something.

last time i opened bank account in Canada, had this convo:
teller: what do you for a living?
me: you can put risk management
teller: do you have a company?
me: no
teller: can you be more specific about what you do for a living?
me: fuck.. ok i play poker

and they still opened the account, but i KNOW HSBC will not, and if they do they will close it shortly after (google hsbc poker). If anyone has any advice on how to phrase 'I'm an investor' in such a way that they fuck off, please let me know.

[ftpjesus]

Moving funds is not an issue while I am in Canada. It becomes an issue when I move to a non-English speaking country with questionable banks, which is something I will be doing soon.

Have you checked with HSBC since they have bank locations worldwide and offer multi-currency GBP, EUR and HKD. Check out HSBC.CA they have services designed for those who travel in and out of Canada so that may fit what you need.. Sorry if I was presuming but Ive run across people on 2+2 with the same complaints and it depends on the bank knowing what you do.. You could claim to be self-employed philanthropist .. My point being obviously was you dont tell them your a professional poker player..

HSBC does provide the services i need, but they shut down accounts that are in any way linked to poker. i could probably make it work, im just worried about documentation they might ask for if i tell them i'm an investor or something.

last time i opened bank account in Canada, had this convo:
teller: what do you for a living?
me: you can put risk management
teller: do you have a company?
me: no
teller: can you be more specific about what you do for a living?
me: fuck.. ok i play poker

and they still opened the account, but i KNOW HSBC will not, and if they do they will close it shortly after (google hsbc poker). If anyone has any advice on how to phrase 'I'm an investor' in such a way that they fuck off, please let me know.

My own experience as a dual citizen (US/Canada) is that oddly enough if you have a large enough bank acct alot of times they ask fewer questions because they want your business. You could easily claim you are a daytrader (which isnt entirely a lie) in forex and options. They technically cant legally ask you for your account information per se. My primary forex trading account is overseas in Cyprus due to US law known as Dodd Frank which suddenly banned my ability to trade Gold and Silver on the spec market as well as the audicity to protect little ole me by limiting my leverage to 50:1 instead of 100:1 or 200:1 as some prefer to do.

[shortbus]

I need an offshore bank account.

Offshore banks offer:
- multiple currencies
- security tokens
- send wires online to other banks
- can open account w/o visiting country the bank is in

I called an offshore bank in the Isle of Man, told them I am a US citizen living in Canada that plays poker professionally and they snap rejected me. They also said they do not open accounts for USA residents ever and the fact that I live in Canada and play poker is too risky.

Can i tell a bank i'm an investor? I'm worried they'll want some proof that I cant provide. Please help.

I set mine up using a service I found on 2+2. My account was out of Belize but the fees got pretty high so they moved me to another bank. I cashed out 5 figures from Minted and my wire was frozen by my new bank because it was sent from "Everleaf Gaming" and it came from a strange Albanian bank. I was pretty nervous but the service was able to help me provide "source of funds" documents and it was cleared up. I have had other wires from Intertops and Black Chip that were never flagged; they told me it was because of the bank it came from and the fact that it said "Gaming". For example when I get a wire from BlackChip it says XXXXXXX Family Trust and it has never been questioned.

[Dan Druff]

I need an offshore bank account.

Offshore banks offer:
- multiple currencies
- security tokens
- send wires online to other banks
- can open account w/o visiting country the bank is in

I called an offshore bank in the Isle of Man, told them I am a US citizen living in Canada that plays poker professionally and they snap rejected me. They also said they do not open accounts for USA residents ever and the fact that I live in Canada and play poker is too risky.

Can i tell a bank i'm an investor? I'm worried they'll want some proof that I cant provide. Please help.

I set mine up using a service I found on 2+2. My account was out of Belize but the fees got pretty high so they moved me to another bank. I cashed out 5 figures from Minted and my wire was frozen by my new bank because it was sent from "Everleaf Gaming" and it came from a strange Albanian bank. I was pretty nervous but the service was able to help me provide "source of funds" documents and it was cleared up. I have had other wires from Intertops and Black Chip that were never flagged; they told me it was because of the bank it came from and the fact that it said "Gaming". For example when I get a wire from BlackChip it says XXXXXXX Family Trust and it has never been questioned.

How much did the service cost?

What kind of fees are you paying at the new bank?

How do you have any assurance that this bank won't go under and your money will be gone? Have you found it easy to move the money from that bank to your home bank account?

Also, where are you located? Are you an American?

[shortbus]

I set mine up using a service I found on 2+2. My account was out of Belize but the fees got pretty high so they moved me to another bank. I cashed out 5 figures from Minted and my wire was frozen by my new bank because it was sent from "Everleaf Gaming" and it came from a strange Albanian bank. I was pretty nervous but the service was able to help me provide "source of funds" documents and it was cleared up. I have had other wires from Intertops and Black Chip that were never flagged; they told me it was because of the bank it came from and the fact that it said "Gaming". For example when I get a wire from BlackChip it says XXXXXXX Family Trust and it has never been questioned.

How much did the service cost?

What kind of fees are you paying at the new bank?

How do you have any assurance that this bank won't go under and your money will be gone? Have you found it easy to move the money from that bank to your home bank account?

Also, where are you located? Are you an American?

It was $350

Fees at the new bank cost me 6$ month.
ATM $4 per transaction with $2000 limit a day
Debit purchases $1
wire in is $15 and out cost me around $30 per 10K
*not 100% on all these but should be close

I had no real assurance that the bank wouldn't go under but was willing to gamble. I have since looked them up and they seem to have a good reputation. Moving money has been easy so far and I can order a wire online. Overall the cost still add up but it is a small price to pay.

I am a US player in Illinois

.

[SilkRoad]

hey Mr. Cash.. i drink milkshakes too

I also paid for that service, my main problem was how much info you had send them, and it seemed unnecessary. There's no reason I should be sending them so much sensitive info when I know almost nothing about that company, I dont even the name of the lawyer they use, and they provide no address. In contrast, my CPA has been involved with gambling for years, posts his name, picture, phone number, email, and physical address on the front page of his website. RS's website looks like something I threw together when i was 12 years old.

In my opinion, the only reason they want you to send all your bank documents to them is so they can add themselves to your account as an additional authorized person.

I was still happy to pay the $350 cuz I still learned a bit from it and I found some good banks to use. I also think there are a number of lawyers who can produce 'source of funds' paperwork and are more professional.

[shortbus]

hey Mr. Cash.. i drink milkshakes too

I also paid for that service, my main problem was how much info you had send them, and it seemed unnecessary. There's no reason I should be sending them so much sensitive info when I know almost nothing about that company, I dont even the name of the lawyer they use, and they provide no address. In contrast, my CPA has been involved with gambling for years, posts his name, picture, phone number, email, and physical address on the front page of his website. RS's website looks like something I threw together when i was 12 years old.

In my opinion, the only reason they want you to send all your bank documents to them is so they can add themselves to your account as an additional authorized person.

I was still happy to pay the $350 cuz I still learned a bit from it and I found some good banks to use. I also think there are a number of lawyers who can produce 'source of funds' paperwork and are more professional.

What info did they request that you didn't list in your second post as documents most offshore banks require?
I was slightly uncomfortable sending my documents to them but there is no possible way for them to "add" themselves as additional authorized users. I can clearly see authorized users when I log in to online banking and there is no way to change anything on my account without secure codes that were sent from the bank after I was approved. Not to mention it saves about $100 having them send it in.
If a lawyer could help with source of funds I doubt he would do it for free, they did mine for free.
I've had nothing but a good experience and their customer support is what won me over.
One the flip side I refered a friend, his application took over a month and he also had to supply some additional information like SSN which I did not. He is happy now but overall he would say it was a bad experience. I think it most likely was out of their control.

[SilkRoad]

What info did they request that you didn't list in your second post as documents most offshore banks require?

i think that was all.

I was slightly uncomfortable sending my documents to them but there is no possible way for them to "add" themselves as additional authorized users.

There is a way on one of the application pages if we're talking about the same Caribbean bank (not gonna post the name).

I can clearly see authorized users when I log in to online banking and there is no way to change anything on my account without secure codes that were sent from the bank after I was approved. Not to mention it saves about $100 having them send it in.

i guess this is good news.

If a lawyer could help with source of funds I doubt he would do it for free, they did mine for free.
I've had nothing but a good experience and their customer support is what won me over.

obv a lawyer would charge for it. i just remembered 1 reason they want the info to go thru them--it allows them to act as your agent with the bank and receive a small commission on the money the bank makes off you.

One the flip side I refered a friend, his application took over a month and he also had to supply some additional information like SSN which I did not. He is happy now but overall he would say it was a bad experience. I think it most likely was out of their control.

Now that seems sketchy. Altho ya I dont know the whole story, but its hard to imagine why they would need SSN for an offshore bank.

[Shizzmoney]

Banks DO need to know what you do for a living. Its part of the application form.

Whatever just happened to bringing in a bunch of cash to a Welcome mat?

Guess that is only reserved for Mexican drug cartel leaders, though.