Slovak Republic, Czech Republic, United Kingdom, Germany, Liechtenstein, Lithuania
Regular Business Banking Account
We were unable to process incoming payments from our clients worth 500 000 EUR which caused us an unrealized profit of 15 000 EUR and serious reputation damage. Since this is a reoccurring issue with more banks, it creates unnecessary friction for our client base using our services.
We were unofficially told that companies and services working with cryptocurrencies in any way are considered too risky to be served by banks, even though our service is low-risk in terms of AML, and we are considered to be "obliged persons" in regards to AML ourselves. Officially the service was denied without reason.
No, we were not. It was declared that it is an HQ decision not to serve any companies dealing with cryptocurrencies.
We have used different banking institutions but we have been constantly under the pressure that banks will deny to provide their services to us. Thus we are facing an immediate death threat as a company, which causes serious discomfort to our 20,000 customers as well.