Account services, Netbank, Cash Deposit, Cash Handling
Unable to receive deposits from customers, unable to initiate domestic transfers, unable to use domestic card terminals (but instead foreign service provider and times more expensive VISA/MC settlement) due to rejection of international settlement by Nets (domestic acquirer and card terminal provider), unable to deposit cash, unable to get small money, unable to be a part of direct debit and credit systems, unable to use domestic bill (expense) payment system etc.
Our institution has been previously customer of 2 top 5 banks Nordea Bank (until 2016) and Jyske Bank (until 2017). We have had a bank account also in a smaller institution Sparekassen Kronjylland (until 2018). First to terminated relationships due to "de risking", third because we allegedly violated our contract. We have tried to establish banking relations at 20 different banks in Denmark, but without success. There are 3 main reasons for rejection: business area of our institution not operating in sector where the bank wishes to operate, the AML risks related to our operations are too high, ultimate beneficial owner not resident in the country (another EU country Estonia) ,
In a very brief email/letter.
We have challenged the decision of Sparekassen Kronjylland in court (both city court and circuit court) and have lost the case, because the court established that we have breached an oral agreement with the bank not to deposit cash money on the account.
Yes, but not in Denmark. The institution is a part of an international group operating in other countries and one group entity holding payment services license. We have managed to use that entity for transfers and to cover our bills.
Payment services (money remittance), currency exchange